Contact Adhesives Market Report 2024 - Contact Adhesives Market Outlook and Growth
The contact adhesives global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Contact Adhesives Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The contact adhesives market size has grown strongly in recent years. It will grow from $3.32 billion in 2023 to $3.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to consumer preferences, environmental regulations, increasing awareness of health and environmental issues, fluctuations in raw material prices, and economic conditions.
The contact adhesives market size is expected to see strong growth in the next few years. It will grow to $4.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to industrial demand, increased building and renovation projects, geopolitical factors, market consolidation, and distribution channels. Major trends in the forecast period include eco-friendly formulations, advanced performance characteristics, the development of adhesives for high-tech applications, customization and tailored solutions, and smart adhesives.
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Scope Of Contact Adhesives Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Contact Adhesives Market Overview
Market Drivers –
The expansion in the building and construction sector is expected to propel the growth of the contact adhesives market going forward. The building and construction sector involves the planning, design, and execution of infrastructure projects such as residential, commercial, and industrial buildings. The building and construction sector is rising due to several reasons, including urbanization, population growth, economic development, and government investments. Contact adhesives enhance the building and construction sector by providing strong, durable bonds for various materials, facilitating quick and efficient installations. For instance, in June 2023, according to the quarterly construction inquiry published by the Northern Ireland Statistics and Research Agency, a UK-based public authority, from the first quarter of 2022 to the first quarter of 2023, the overall construction industry expanded by 6.5%, with the housing sector of construction increasing by 11.1% and the infrastructure subsector by 3.7%. Therefore, the expansion in the building and construction sector is driving the growth of the contact adhesives market.
Market Trends –
Major companies operating in the contact adhesives market focus on developing innovative products, such as biobased adhesives made from renewable resources, to gain a competitive edge in the market. Biobased adhesives are adhesives derived from renewable resources rather than traditional petrochemical sources. They are designed to be more environmentally friendly and sustainable. For instance, in September 2024, Biophilica Ltd., a UK-based biotechnology company, launched Brightbond, a 100% biobased adhesive that boasts the same bonding performance as traditional PVA adhesives. This 100% biobased adhesive, made from renewable resources, matches the performance of traditional PVA adhesives. It bonds a variety of substrates, including plant-based materials, paper, and textiles, while being non-toxic and environmentally friendly. Its water-based formula dries clear with a slight tint, perfect for aesthetic needs. Developed to address the demand for sustainable manufacturing, it supports a transition to circular, eco-friendly products.
The contact adhesives market covered in this report is segmented –
1) By Type: Solvent-Based, Water-Based, Solvent-Free, Reactive Contact, Hot Melt
2) By Resin Types: Neoprene, Polyurethane, Acrylic, Styrene-Butadiene Rubber (SBR), Other Resin Types
3) By Substrate: Wood-To-Wood, Metal-To-Metal, Plastic-To-Plastic, Fabric-To-Fabric, Multi-Substrate
4) By Application: Construction And Building, Furniture And Woodworking, Automotive And Transportation, Footwear And Leather Goods, Textiles And Fabrics, Electronics And Appliances, Packaging, DIY And Craft, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the contact adhesives market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the contact adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the contact adhesives market are The Dow Chemical Company, 3M Company, Akzo Nobel N.V., Sika AG, Huntsman Corporation, Wacker Chemie AG, Bostik SA, Pidilite Industries Limited, Tremco Incorporated, Jubilant Industries Ltd., Franklin International Inc., CRC Industries Inc., Jowat SE, RLA Polymers Pty Ltd., Apollo Roofing Solutions LLC, Benson Polymers Ltd., Helmitin Adhesives Inc., Soudal N.V., Chemical Concepts Inc., Mapei S.p.A., Chemique Adhesives Inc., Everbuild Building Products Ltd.
Table of Contents
1. Executive Summary
2. Contact Adhesives Market Report Structure
3. Contact Adhesives Market Trends And Strategies
4. Contact Adhesives Market – Macro Economic Scenario
5. Contact Adhesives Market Size And Growth
…..
27. Contact Adhesives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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