Contact Adhesives Market size is forecast to reach $7 billion by 2025, after growing at a CAGR of 5.5% during 2020-2025. The rise in demand for solvent- and water-borne adhesives from residential, commercial, and industrial sector drives the growth of contact adhesives market during the forecast period. Whereas, the growing construction activities and transportation sector across the developed and developing economies also contribute to the growth of global contact adhesive market size over the study period.
- In the Asia-Pacific region, in 2019, China dominates the Contact Adhesives market owing to increasing demand from applications such as the automotive and aviation industries.
- The growing popularity of environment-friendly adhesive and economically viable technologies is likely to aid in the market growth of waterborne contact Adhesives.
- Contact adhesives can be used to bond large areas of non-porous substrates due to their high initial strength makes them ideal for various laminating applications include auto-adhesion and packaging of paper boards.
- Stringent VOC norms considered as a restraining factor for the growth of global contact adhesive market size during the study period.
Geography – Segment Analysis
Among the regions, in 2019, the APAC region dominated the Contact Adhesives market with a share of more than 35%, followed by North America and Europe. The growing aviation and automotive industries across the region are contributing to the growth of the contact adhesives market in the APAC region. According to OICA, APAC automotive sales witnessed a growth of over 6.52% during 2012-2018, with South East Asian countries having huge potential to grow. Additionally, the growing demand and sales of electric vehicles in China, South Korea, Japan, and India are also driving the growth of APAC region in the global market.
Drivers – Contact Adhesives Market
- Growing building and construction industry
- Implementation of Stringent Environment Regulations
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Contact Adhesives market. In 2019, the market of Contact Adhesives top 10 companies accounting for xx% of the share. Major players in the Contact Adhesives Market outlook are Henkle Corporation, 3M, H.B. Fuller, Illinois Tool Works, Sika AG, Pidilite Industries, Huntsman International, Royal Adhesives & Sealants, LLC, and Ashland Inc., Permabond LLC., Arkema S.A. (BostiK), among others.
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