Enjoy complimentary customisation on priority with our Enterprise License!
The contact adhesives market share is expected to increase by USD 1.43 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.44%.
This contact adhesives market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers contact adhesives market segmentation by application (woodworking, automotive, footwear and leather, construction, and others) and geography (APAC, Europe, North America, the Middle East and Africa, and South America). The contact adhesives market report also offers information on several market vendors, including 3M Co., American Chemical and Adhesives LLC, Avery Dennison Corp., Buhnen GmbH and Co. KG, Collano AG, Costchem SRL, Franklin International, H.B. Fuller Co., Henkel AG, and Co. KGaA, Hexion Inc., Huntsman International LLC, Intertape Polymer Group Inc., Jowat SE, LINTEC Corp., Parker Hannifin Corp., Pidilite Industries Ltd., Sika AG, Tex Year Industries Inc, The Dow Chemical Co., and Wacker Chemie AG among others.
Download Report Sample to Unlock the Contact Adhesives Market Size for the Forecast Period and Other Important Statistics
The increasing replacement of mechanical fasteners with contact adhesives is notably driving the contact adhesives market growth, although factors such as volatile raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the contact adhesives industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Contact Adhesives Market Driver
The increasing replacement of mechanical fasteners with contact adhesives is one of the major drivers impacting the contact adhesives market growth. Manufacturers are using adhesives in contact applications, owing to their superior product performance and better operation when compared with conventional procedures. The use of contact adhesives eliminates the corrosion associated with the joining of dissimilar metals with different galvanic potential, such as the joining of steel with aluminum. Also, these adhesives require lesser heat input when compared with welding and soldering and reduce the damage to products when rivets or screws are used to join parts and components in various industrial applications. Adhesive bonding is an effective alternative to welding, which offers a better-finished appearance, stress distribution, and better strength performance. Such advantages of contact adhesives are expected to increase their demand during the forecast period.
Key Contact Adhesives Market Trend
Increasing adoption of sustainable products is one of the major trends influencing the contact adhesives market growth. The favorable policies by government bodies on the use of bio-adhesives in consumer and industrial applications are expected to lead to the growth of the contact adhesives market during the forecast period. Regulatory bodies such as the EU and the Food and Drug Administration (FDA) have imposed strict regulations to reduce the consumption of synthetic adhesives, particularly in food contact materials, which will significantly drive the demand in the bio-adhesives market in various end-user applications, particularly in food and beverage packaging. Such factors are expected to drive the growth of the market focus during the forecast period.
Key Contact Adhesives Market Challenge
Volatile raw material price is one of the major challenges impeding the contact adhesives market growth. Contact adhesives are composed of natural or synthetic rubber and have a rubber basis, which helps in bond glass, mirror, ceramics, leather, fabric, many plastics, wood, concrete, stone, and metal-to-porous surfaces. Most polymers are obtained through the energy-intensive process of polymerization. Thus, there is a direct link between crude oil prices and the price and availability of a variety of polymers. In 2020, the spike in March caused by the COVID-19 outbreak and the following global lockdowns was reversed in April, when the demand for the raw materials needed to make adhesives dropped to a multi-year low. The lockdowns resulted in the cancellation/delay of isocyanate and polyol orders, negatively impacting the growth of the global contact adhesive market. The fluctuating prices of raw materials are expected to hinder the growth of the global contact adhesives market during the forecast period.
This contact adhesives market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global contact adhesives market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the contact adhesives market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the contact adhesives market encompasses successful business strategies deployed by the key vendors. The contact adhesives market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The contact adhesives market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the contact adhesives market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
52% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the contact adhesives market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Increased demand for contact adhesives will facilitate the contact adhesives market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 severely affected several countries in APAC, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines. Stringent lockdowns were imposed to prevent the community transmission of the disease. As a result, various companies and manufacturing units witnessed production scarcity, which hampered the growth of the regional market in focus in 2020 and the first half of 2021.
To gain further insights on the market contribution of various segments Request a PDF Sample
The contact adhesives market share growth in the woodworking segment will be significant during the forecast period. The woodworking segment is expected to witness maximum growth during the forecast period owing to the wide range of applications of contact adhesives in waterproofing, tiling, carpeting, insulation, wall, and coverings.
This report provides an accurate prediction of the contribution of all the segments to the growth of the contact adhesives market size and actionable market insights on the post-COVID-19 impact on each segment.
Contact Adhesives Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.44% |
Market growth 2022-2026 |
$ 1.43 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.8 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 52% |
Key consumer countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Co., American Chemical and Adhesives LLC, Avery Dennison Corp., Buhnen GmbH and Co. KG, Collano AG, Costchem SRL, Franklin International, H.B. Fuller Co., Henkel AG and Co. KGaA, Hexion Inc., Huntsman International LLC, Intertape Polymer Group Inc., Jowat SE, LINTEC Corp., Parker Hannifin Corp., Pidilite Industries Ltd., Sika AG, Tex Year Industries Inc, The Dow Chemical Co., and Wacker Chemie AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.