PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1316319
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1316319
The global contact adhesives market size is projected to grow from USD 2.8 billion in 2023 to USD 3.5 billion, at a CAGR of 4.3%. The advancements in adhesives production are mostly determined by the raw materials, technology, and applications to which they cater. The demand for raw materials in terms of finished product attributes and ease of processing is always growing. Solvent-based and water-based methods are essential in the production of contact adhesives. These technologies are also preferred by manufacturers since they save process time and expenditure. In North America and Europe, there is a strong push to replace solvents and solvent-based adhesives in order to reduce VOC emissions. As a result, the need for water-based and reactive adhesives has increased.
The water-based segment is expected to register one of the highest market share during the forecast period
Water-based contact adhesive is a type of adhesive that is intended for use in areas where the use of flammable solvents is forbidden or restricted. Because water-based contact adhesive is non-flammable, it provides a safer alternative to solvent-based adhesives. It has very little VOC and VHAP, making it a more ecologically friendly solution. Water-based contact adhesive appears white but dries clear, resulting in a better surface. It is a strong adhesive that may be used for a range of tasks, including gluing decorative laminates to substrates.
The polyurethane segment in resin type is expected to register one of the highest CAGR during the forecast period
Polyurethane-based adhesives are robust due to the creation of polyurethane, which is produced by reacting a polyol with an isocyanate. To generate the repeated urethane bond, the isocyanate group interacts with the hydroxyl group of polyols. The structural bonding and sealing of vehicle windscreens is the most important use of polyurethane contact adhesives. They are also particularly successful in large-area metal and composite panel bonding. Contact adhesives based on thermoplastic polyurethane have several uses in industrial and domestic settings. They may attach varied substrates such as metals, plastics, rubbers, glassware, ceramics, and woods because to their strong polarity and hydrogen bonding between the polyurethane and the substrate. Because of the isocyanate group's particular reactivity, polyurethane may be tailored to a variety of purposes.
Europe contact adhesives market is estimated to capture one of the highest share in terms of volume during the forecast period
In terms of value, Europe is the third-largest contact adhesives market, accounting for 17.3% in 2022. The Registration, Evaluation, Authorization, and Restriction of Chemical Substances (REACH) regulation governs the European market, monitoring and issuing guidelines to preserve the environment and avoid health dangers caused by chemicals. REACH's strict regulatory framework has resulted in a continuous decrease in the usage of high VOC-emitting contact adhesives. The European contact adhesives market is also influenced by changes in raw material availability, as well as raw material and energy costs.
The key companies profiled in this report are Henkel AG (Germany), H.B. Fuller (US), Sika AG (Switzerland), Arkema (Bostik SA) (France), 3M (US), Huntsman Corporation (US), Illinois Tool Works Inc. (US), Pidilite Industries Limited (India), and others.
This research report categorizes the contact adhesives market by Technology (Water-based, Solvent-based), Resin Type (Neoprene, Polyurethane, Acrylic, SBC, and Others), End-Use Industry, and Region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the contact adhesives market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, and agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the contact adhesives market. Competitive analysis of upcoming startups in the contact adhesives market ecosystem is covered in this report. Reasons to buy this report: The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall contact adhesives market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
(Business overview, Products offered, Recent Developments, MNM view)**