Contact Adhesives Market Growth Rate, Gross Margin, Competitive Situation and Trends, Forecast

An adhesive is a substance that is used to bind two surfaces together. Contact adhesives are adhesives that are employed for high strength binding of different materials. They are also known as semi-structural adhesives. The surfaces of both substrates to be bonded are coated with contact adhesive evenly. Once the adhesive dries by the evaporation of solvent, slight pressure is applied, resulting in high initial strength. The drying process of the adhesives is fast, and the bonded surfaces are very difficult to separate. Thus, correct surface arrangement of the materials before application of the adhesives is very important. The adhesive is able to withstand rapid changes in temperature, moisture, and vibrations. Contact adhesives can be utilized for binding of materials such as paper & board, wood, leather, fabric, metal, rubber, glass, ceramic, and plastic. These adhesives are preferred for products with large surface area.

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The contact adhesives market can be segmented based on dispersion system, raw material, mode of application, end-use industry, and region. Contact adhesives are manufactured in either solvent-based system or water-based system. Raw materials (base polymers) utilized for the production of contact adhesives include polychloroprene, polyurethane, acrylic polymers, styrene butadiene rubber, butyl rubber, and natural rubber. The raw material and its grade and composition varies according to the end-use application of the adhesives. Based on mode of application, the contact adhesives market is divided into spraying, curtain coating, roller coating, and brushing. Spraying is the most widely utilized mode of application of the adhesives. Roller and curtain coatings are employed for flat sheets. In terms of end-use industries, the contact adhesives market can be segmented into footwear, automotive, building & construction, furniture, packaging, and others. Based on region, the contact adhesive market can be segregated into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America.

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Easy and fast adhesion, versatility in adhesion to materials, high strength, flexible bonds, and resistance to aging, heat, oils, and chemicals, are the driving factors of the contact adhesives market. Solvent-based adhesive systems are preferred over water-based systems due to their greater strength and durability. However, commonly used solvents are flammable and toxic. Therefore, additional precautions are required for safe handling of solvent-based systems. Stringent environmental rules and regulations for VOC emission are likely to hamper the market of contact adhesives. On the other hand, water-based systems are safe and eco-friendly, as compared to solvent-based systems. Water based systems require more time to dry and have poor performance as compared to that of solvent-based systems. Polychloroprene is expected to dominate the contact adhesives market due to its high ultimate and shear strength. The polymer is majorly utilized in the footwear industry. Acrylic polymers are estimated to hold a major share of the market by the end of the forecast period due to eco-friendly nature.

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Asia Pacific is anticipated to dominate contact adhesives market due to the rise in number of vehicles and expansion of the automotive industry in the region. China and India are anticipated to hold prominent share of the market due to the expansion of their economies and the increase in buying capacity. Demand for contact adhesives is rising in North America and Europe due to the rise in construction and repair & maintenance activities.

Major players operating in the global contact adhesives market include 3M, Arkema Group, Royal Adhesives & Sealants LLC, Henkel AG & Co., and Wilsonart LLC.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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