Contact Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Technology (Water-borne, Solvent-borne, and Other Technologies), Polymer (Neoprene, SBR, Acrylic Copolymer, and Other Polymers), End-user Industry (Consumer Durables, Packaging, Automotive, Furniture, Footwear Leather, Construction, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Contact Adhesives Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: <5 %

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Market Overview

The contact adhesives market is expected to register a CAGR of around 5%, during the forecast period. The major factors driving the growth of the market studied is the robust growth in demand from Asia-Pacific, with the growth of the manufacturing sector. On the flipside, volatility in raw material prices and stringent environmental regulations regarding VOCs are some of the major concerns for the studied market.

  • The neoprene-based segment dominated the market. It is likely to grow during the forecast period, owing to the rising demand from the footwear and construction industry.
  • The shifting focus toward water-borne adhesives is likely to provide opportunities for the studied market, during the forecast period.
  • Asia-Pacific dominated the global market, due to robust demand from the growing industries, such as construction, automotive, footwear, furniture, and packaging.

Scope of the Report

The scope of the contact adhesives market report includes:

Technology
Water-borne
Solvent-borne
Other Technologies
Polymer
Neoprene
SBR
Acrylic Copolymer
Other Polymers
End-user Industry
Consumer Durables
Packaging
Automotive
Furniture
Footwear Leather
Construction
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Construction Industry to Dominate the Market Demand

  • Contact adhesives, owing to their characteristics and physical properties (such as good cohesion, adhesion and elasticity, high cohesive strength, flexibility, high elastic modulus of substrate, resistance from thermal expansion, environmental resistance from UV light, corrosion, sal twater, rain, and other weathering conditions), have extensive use in the construction industry.
  • They are mainly used in wooden flooring and artificial turf, owing to their property of strain crystallization. Though the use of contact adhesive in the construction sector is considered to be steady, the market is, however, expected to be affected at present, owing to the declining sector in the country.
  • Countries such as the United States, China, India, etc., are the major countries where the construction industry is booming. With the increasing population in such countries, the demand for construction is also growing.
  • For instance, according to the World Bank, globally, by 2020, the construction industry expenditure is likely to reach around USD 11.9 trillion. 
  • Such an increase in the construction industry is likely to increase the demand for the contact adhesive market over the forecast period. 
Contact Adhesives Market Revenue

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share. The robust demand from industries, such as automotive, construction, footwear, furniture, and packaging, are likely to drive the growth of contact adhesives in the region.
  • The following Asia-Pacific countries, such as China, India, Indonesia, Pakistan, and Bangladesh, are among the top 10 most populous countries in the world. Moreover, the population in such countries is increasing continuously, which is expected to significantly add to the demand for footwear in the coming years.
  • The Chinese government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities, over the next 10 years.
  • The Indian government’s target of investing USD 120.5 billion, for developing 27 industrial clusters, is expected to boost commercial construction in the country.
  • China already has numerous airport construction projects under the planning or developing phase. The Indian government also plans to construct 100 new airports, by 2032.
  • In addition, residential and commercial construction is also increasing in countries, such as the Philippines, Vietnam, and Indonesia.
  • Moreover, with such robust growth in construction activities, the demand and production in the furniture market are expected to increase at a robust rate, in the coming years.
  • Countries in the region, such as India, Indonesia, Malaysia, and Thailand, have been witnessing an increase in investment and production in the automotive industry. Besides, China stands to be the largest automotive producer in the world.
  • Though production declined in China during 2018, the automotive production is expected to increase in the future, driven by the government and automaker’s efforts toward developing and increasing the sales of electronic vehicles.
  • The region is also witnessing the fastest growth in the global packaging industry, where countries, such as China and India, have been leading the market. Factors, such as e-commerce, online food deliveries, and innovation and development in the packaging industry, have been driving the growth of the packaging industry in the region.
  • Hence, all such market trends are likely to drive the demand for contact adhesives in the region, during the forecast period.
Contact Adhesives Market Regional Trends

Competitive Landscape

The contact adhesives market is fragmented in nature, with few players accounting for a small share of the market demand. Some of the major players in the market include Sika AG, Henkel AG & Co. KGaA, H.B. Fuller Co., Bostik (Arkema), and 3M, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Expanding Manufacturing Sector in Asia-Pacific

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Volatility in Raw Material Prices

      2. 4.2.2 Stringent Environmental Regulations regarding VOCs

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Raw Material Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology

      1. 5.1.1 Water-borne

      2. 5.1.2 Solvent-borne

      3. 5.1.3 Other Technologies

    2. 5.2 Polymer

      1. 5.2.1 Neoprene

      2. 5.2.2 SBR

      3. 5.2.3 Acrylic Copolymer

      4. 5.2.4 Other Polymers

    3. 5.3 End-user Industry

      1. 5.3.1 Consumer Durables

      2. 5.3.2 Packaging

      3. 5.3.3 Automotive

      4. 5.3.4 Furniture

      5. 5.3.5 Footwear Leather

      6. 5.3.6 Construction

      7. 5.3.7 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 AdCo (UK) Limited

      3. 6.4.3 Arkema Group (Bostik Sa)

      4. 6.4.4 Collano Adhesives AG

      5. 6.4.5 DELO Industrial Adhesives

      6. 6.4.6 H.B. Fuller Company

      7. 6.4.7 Helmitin Adhesives

      8. 6.4.8 Henkel AG & Co. KgaA

      9. 6.4.9 Huntsman International LLC

      10. 6.4.10 ITW Performance Polymers (Illinois Tool Works Inc.)

      11. 6.4.11 Jowat Corporation

      12. 6.4.12 Mapei SpA

      13. 6.4.13 Pyrotek

      14. 6.4.14 Sika AG

      15. 6.4.15 Dow

      16. 6.4.16 Intact Adhesives (KMS Adhesives Ltd)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Shifting Focus toward Water-borne Adhesives

**Subject to Availability

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Frequently Asked Questions

The Contact Adhesives Market market is studied from 2016 - 2026.

The Contact Adhesives Market is growing at a CAGR of <5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Henkel AG & Co. KGaA, H.B. Fuller, Bostik (Arkema), Sika AG, 3M are the major companies operating in Contact Adhesives Market.

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