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The contact adhesives market size is estimated to grow by USD 1.15 billion at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth, driven by several key factors. One major trend is the increasing replacement of mechanical fasteners with contact adhesives due to their superior bonding strength and ease of application. Another trend is the increasing adoption of sustainable contact adhesives, as manufacturers seek to reduce their environmental footprint. However, the market is also facing challenges, including the volatile price of raw materials, such as solvents and resins, which can impact the cost of production and profitability. Despite these challenges, the market is expected to continue growing, driven by the benefits of contact adhesives over traditional fastening methods and the demand for more sustainable solutions.
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Contact adhesives are essential binding agents used in various industries for bonding different materials. The market is driven by the increasing demand from industries such as footwear, wooden flooring, residential and commercial construction, and transportation. In the footwear industry, contact adhesives are used for bonding sole-to-sole and sole-to-upper operations. In the wooden flooring sector, water-borne contact adhesives are gaining popularity due to their eco-friendly formulations and low volatile organic compounds (VOCs). Construction activities and commercial applications also contribute significantly to the market growth. Modified polymer technologies and polymer types, such as polyurethane and acrylic, are commonly used due to their excellent adhesion properties and flexibility. In the building and construction, aerospace, and furniture industry, the use of various adhesives, such as epoxy resin, acrylicbased contact adhesives, and neoprenebased segment, is crucial for achieving excellent adhesion and cohesion, while addressing concerns like volatility in raw material prices, VOCs (Volatile Organic Compounds), and the need for high elastic modulus, particularly in applications like bonding metals, glass, and artificial turfs, with innovations also extending to electronic vehicles, e-commerce, and online food deliveries. However, the environmental impact of traditional contact adhesives, which contain high VOCs, is a major concern. In response, there is a growing trend towards water-based formulations, which offer better sustainability and reduced environmental impact. Overall, the market is expected to grow steadily due to the increasing demand for bonding solutions in various industries. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing replacement of mechanical fasteners with contact adhesives is notably driving market growth. Contact adhesives have gained significant traction in various industries, surpassing traditional methods like mechanical or thermal fastening for bonding applications. The industrial landscape has witnessed a shift towards advanced materials and intricate manufacturing requirements, leading to the increased adoption of contact adhesives. These adhesives have become increasingly popular in sectors such as construction, consumer durables, woodworking, packaging, and furniture, where they offer superior product performance and more efficient operation compared to conventional procedures like mechanical fasteners, welding, or other joining methods. Manufacturers are embracing contact adhesives due to their versatility, as they can be used on various substrates, including wood, metal, and plastics.
Furthermore, advancements in hybrid adhesives and eco-friendly formulations, such as water-borne adhesives and solvent-free alternatives, have expanded their applications. The transportation sector and footwear industry have also adopted contact adhesives due to their flexibility and ability to withstand harsh conditions. The market for contact adhesives is influenced by several factors, including consumer preferences, regulatory changes, economic conditions, and sustainability concerns. Pestel analysis reveals that industry trends include growth in construction activities, increasing consumer awareness of environmental impact, and the need for risk management strategies. Cost structures, profitability, and raw material procurement are essential considerations for leading industry players. As the market evolves, manufacturers must stay informed about the latest polymer types, adhesion properties, and technological advancements to remain competitive. Thus, such factors are driving the growth of the market during the forecast period.
Increasing adoption of sustainable products is the key trend in the market. The market encompasses various types of adhesives, with bio-adhesives gaining significant traction due to their eco-friendly formulations. These adhesives, derived from natural polymeric substances, are free from harmful chemicals like formaldehyde and are sourced from renewable plant or animal resources. The market growth is driven by the increasing consumer preference for sustainable products, stringent regulatory requirements, and favorable economic conditions. Industries such as footwear, wooden flooring, construction activities, and transportation are major consumers of contact adhesives. Bio-adhesives offer several advantages, including superior adhesion properties, flexibility, and low environmental impact. In the footwear industry, for instance, bio-adhesives are used to bond various components, providing durability and comfort.
Furthermore, advancements in hybrid adhesive technologies and the development of water-borne and solvent-free adhesives have expanded the application scope of bio-adhesives. The use of these adhesives in industries such as construction and transportation is expected to grow, driven by the need for high-performance, low-emission adhesives. The market is subjected to various external factors, as identified through PESTEL analysis, including consumer behavior changes, regulatory changes, economic conditions, supply chain management, sustainability, and risk management strategies. Raw material procurement and cost structures are crucial factors influencing the profitability of leading industry players. Some of the key players in the market include 3M, Henkel AG & Co. KGaA, H.B. Fuller Company, and Sika AG. The market trends indicate a shift towards the use of bio-based adhesives, driven by the need for sustainable and environmentally friendly solutions. The industry is expected to continue growing at a CAGR of more than 13% during the forecast period. Thus, such trends will shape the growth of the market during the forecast period.
Volatile raw material price is the major challenge that affects the growth of the market. Contact adhesives are essential binding agents used in various industries, including footwear, wooden flooring, construction activities, and the transportation sector. These adhesives, which have a rubber basis, enable the bonding of diverse substrates such as glass, mirror, ceramics, leather, fabric, plastics, wood, concrete, stone, and metal-to-porous surfaces. The primary polymers used in contact adhesives are obtained through the energy-intensive process of polymerization, making their production linked to crude oil prices. In 2020, the contact adhesive market experienced a significant downturn due to the COVID-19 pandemic. The global lockdowns in March led to a spike in demand for raw materials, only to be followed by a drop to a multi-year low in April as demand plummeted for isocyanate and polyol orders. This negatively impacted the growth of the market. Eco-friendly formulations, such as water-based and solvent-free adhesives, have gained popularity due to increasing consumer preferences for sustainability and regulatory changes.
Furthermore, advancements in hybrid adhesives, which combine the benefits of water-borne and solvent-free adhesives, have improved adhesion properties, flexibility, and reduced environmental impact. The contact adhesive market is influenced by various factors, including consumer behavior changes, regulatory changes, economic conditions, supply chain management, sustainability, and risk management strategies. Cost structures, profitability, and raw material procurement are critical elements impacting the industry's growth trends. Leading industry players include 3M, Henkel AG & Co. KGaA, H.B. Fuller Company, Sika AG, and Ashland Global Holdings Inc. As the market evolves, it is essential to stay informed about the latest industry trends and adapt to the changing business landscape. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co.- The company offers 3M Fastbond, which creates a very high strength, high temperature resistant bond with up to a four hour bonding range.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Woodworking segment is estimated to witness significant growth during the forecast period. The market encompasses various industries, including footwear, wooden flooring, construction activities, and the transportation sector. Water-borne adhesives, specifically eco-friendly formulations, have gained significant traction due to increasing consumer preferences for sustainability. These water-based and solvent-free adhesives offer advantages such as improved adhesion properties, flexibility, and reduced environmental impact.
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The Woodworking segment was the largest segment and was valued at USD 1.49 billion in 2018. Advancements in hybrid adhesives, utilizing different polymer types, have been instrumental in enhancing the performance of contact adhesives. Factors such as consumer behavior changes, regulatory compliance, economic conditions, and supply chain management influence the market dynamics. Sustainability and cost structures are critical considerations for leading industry players, driving growth trends in the market. Pestel analysis reveals key external factors, including regulatory changes, raw material procurement, and risk management strategies, impacting the industry. The transportation sector's growth, particularly in emerging economies, presents significant opportunities for market expansion. Consumer behavior shifts towards eco-friendly alternatives and advancements in technology continue to shape the market landscape.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Contact adhesives play a pivotal role in various industries, including footwear, wooden flooring, construction activities, and the transportation sector. The market for contact adhesives is witnessing significant growth due to advancements in eco-friendly formulations, such as water-borne adhesives and solvent-free, water-based adhesives. These adhesives offer superior adhesion properties, flexibility, and sustainability, aligning with consumer preferences for environmentally friendly products. The footwear industry is a major consumer of contact adhesives, with polyurethane adhesives being the most commonly used type. In the wooden flooring sector, contact adhesives ensure strong bonding between different layers and substrates. Construction activities also rely heavily on contact adhesives for bonding various materials, such as tiles, insulation, and roofing. The transportation sector, particularly the automotive industry, uses contact adhesives for assembling various components, including interior panels, carpets, and trim parts. The increasing focus on sustainability and consumer behavior changes are driving the demand for eco-friendly adhesives in this sector. Industry trends include advancements in hybrid adhesive technologies, raw material procurement strategies, cost structures, and profitability. Pestel analysis reveals regulatory changes, economic conditions, and risk management strategies impacting the market. Sustainability and supply chain management are key areas of focus for leading industry players, including 3M, Henkel, and H.B. Fuller.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Industrial Adhesives Market: Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, Germany, UK - Size and Forecast
Adhesive Market: Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Germany, India, UK - Size and Forecast
Adhesive Tapes Market: Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Japan, Germany, India - Size and Forecast
Contact adhesives are essential binding agents used in various industries to join different substrates permanently. The market is driven by the growth in the footwear industry, construction activities, transportation sector, and wooden flooring. Water-borne adhesives, including water-based and solvent-free, are gaining popularity due to their eco-friendly formulations and improved adhesion properties. Advancements in hybrid contact adhesives, combining the benefits of both water-borne and solvent-based adhesives, are a significant growth trend. The polymer types used in contact adhesives, such as acrylics, rubber-based, and polyurethane, influence their flexibility and adhesion properties. Environmental impact, consumer preferences, regulatory changes, and economic conditions are crucial factors influencing the market. Sustainability and consumer behavior changes are driving the demand for eco-friendly and cost-effective adhesives. Leading Epoxy ResinContact adhesives market players include 3M, Henkel AG & Co. KGaA, H.B. Fuller Company, and Sika AG.
Furthermore, supply chain management, risk management strategies, and profitability are essential considerations for these players. Raw material procurement and cost structures are critical factors impacting the profitability of contact adhesive manufacturers. In industries such as leather and footwear, bookbinding, and plastic adhesives, the use of solventbased goods and lowVOC glue is essential, while poly (vinyl acetate) emulsions, acrylic and methyl methacrylate monomers, and neoprene are preferred for Onecomponent adhesives and twocomponent adhesives; additionally, SBC (Styrene-Butadiene Copolymer) is used for Bonding metals and glass. Pestel analysis reveals that political, economic, social, technological, environmental, and legal factors influence the market. Regulatory changes and economic conditions significantly impact the market's growth. Consumer preferences for eco-friendly and cost-effective adhesives are driving the demand for water-borne adhesives. In conclusion, the market is expected to grow due to the increasing demand from various industries, advancements in hybrid adhesives, and the shift towards eco-friendly formulations. Effective supply chain management, risk management strategies, and sustainability are essential for market players to maintain profitability.
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Market Scope |
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Report Coverage |
Details |
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Page number |
143 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2024-2028 |
USD 1.15 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.23 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 47% |
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Key countries |
China, US, Germany, UK, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
3M Co., American Chemical and Adhesives LLC, Avery Dennison Corp., Buhnen GmbH and Co. KG, Collano AG, Costchem SRL, Dow Inc., Franklin International, H.B. Fuller Co., Henkel AG and Co. KGaA, Hexion Inc., Huntsman Corp, Intertape Polymer Group Inc., Jowat SE, LINTEC Corp., Parker Hannifin Corp., Pidilite Industries Ltd, Sika AG, Tex Year Industries Inc, and Wacker Chemie AG |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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