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"The Global Contact Adhesives Market is expected to reach the US $ 6.5 Mn by 2028 at a CAGR of 5.2% During the Forecast Period."
The contact adhesives market is mainly driven by increased growth in the demand from automobile manufacturers etc. The contact adhesives market is on high demand as they are applied for their high strength of bonding nature with varied types of materials. These contact adhesives are otherwise known as semi-structural adhesives that have a wide usage among the automobile companies. The substrate surfaces are coated and bonded with the application of contact adhesives enabling it to have a good bonding strength due to the application of certain processes contributing to the increase in the demand of these adhesives.
It has a fast drying time that enables these adhesives to be bonded with different substrates that are very difficult to separate. Thus, contact adhesives are capable of resistance against extremities in temperature, moisture, and vibrations. The contact adhesives market is plunging due to its utilization for binding of materials including paper & board, wood, leather, fabric, metal, rubber, glass, ceramic, and plastic. The adhesives are utilized on the products having a large surface area.
The adhesive manufacturers are putting heavy investments contributing to the development of contact adhesives with superior technology. These adhesives are either in the solvent-based or water-based system that has a varying degree of VOC components in these adhesives. Such features of adhesives are contributing to the higher demand for the contact adhesives market. The contact adhesives constitute raw materials that are available moderately and hence used in the production of contact adhesives that include polychloroprene, polyurethane, acrylic polymers, styrene-butadiene rubber, butyl rubber, and natural rubber thus, their demand is high. In the production of adhesives, the composition of raw materials grades depends on the end-user. The contact adhesives are widely applied in spraying, curtain coating, roller coating, and brushing hence it is demanded heavily. The contact adhesives are mostly utilized through spraying. These contact adhesives are employed for roller and curtain coatings for flat sheets. In terms of end-use industries, contact adhesives are heavily used among footwear, automotive, building & construction, furniture, packaging, and others.
Contact adhesion market is stimulated because of its peculiar qualities such as 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 mostly opted over water-based systems due to their higher strength and durability. The most commonly used solvents are flammable and toxic thus, they require a higher caution while handling these substances. Globally the governments are enforcing environmentally friendly policies that could hamper the growth of the contact adhesion market. In a comparison of these solvents, the water-based contact adhesives constitute of low VOC and are having greater time to dry with a less bonding strength. Such factors are contributing to the market demand for contact adhesives.
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.
Construction Industry to Lead in the Consumption of Contact Adhesives Market:
The market growth of contact adhesives is mainly contributed through its distinctive properties such as physical properties including environmental resistance, water, flexibility, the high elastic modulus of the substrates and resistance towards the different extremities. Such characteristics are attributed to the support in the extensive usage in the construction industry. The contact adhesive market is growing rapidly due to its application in the artificial turf, wooden work for the property of strain crystallization. The usage of contact adhesives is steady, especially in the construction industry.
The market of contact adhesives is impacted that shall decrease the market share of these adhesives because of the decline in the construction industry especially in developed nations such as the US, Japan and some of the European nations. This especially depends upon the political and economic factors of these nations that are limiting the rise of the contact adhesives market. There is also a substantial growth of the construction industry contributing to the rise of the contact adhesives market among developing countries. It is because these nations have a growing population thus a plunge in the need for basic amenities of infrastructure and housing is essentially increasing. There is a substantial amount of investments made by the construction industry and is projected to have a healthy growth during the forecast period, hence attributed to the growth of the contact adhesives market share.
The property of these adhesives to bond themselves as dry adhesive films does have a strong initial strength as these Contact Adhesives are polymer-based. This characteristic feature of contact adhesives is substantially contributed to the .high demand in the market that could have different features including laminating applications. The adhesives are highly utilized for bonding large areas of non-porous substrates due to their drying before bonding. The footwear industry is also having a huge demand for contact adhesives due to an increase in the global population along with a rise in sports activities had stimulated this market demand.
Asia Pacific Market to Dominate the Global Demand of Contact Adhesives:
The Asia Pacific region is developing at a rapid rate in various industries such as construction, footwear, furniture, and packaging and automotive that has substantiated the economy of this region. The countries such as India, China, Indonesia and Bangladesh, etc which has imposed various trade policies that are liberal in nature has significantly contributed to fuelling up the contact adhesives market. Moreover, these countries have an increasing amount of population that is demanding the variety of footwear contributing to the increase in the application of contact adhesives. The governments of this region had huge planes in developing their infrastructure that could facilitate the growing population in this nation such as megacities for the forecast period.
Some of the countries in this region are also investing in the development of industrial clusters that shall drive the construction industry which could exponentially boost the application of contact adhesives. Additionally, the contact adhesives could be fuelled by the initiation of new airport projects where there is a huge consumption of these contact adhesives boosting its market share. The underdeveloped nations are also slowly increasing their investments in developing commercial and residential constructions contributing to its market demand.
Such factors are also influencing the growth of demand in the furniture market where there is a significant demand for the contact adhesives application. The region is also observing an increased demand for automotive products that are plunging market share of contact adhesives in the global market. Such developments in this region could be attributed to the rise in the disposable income of the population that is accounted for to boost the market share of contact adhesives.
The global contact adhesives market is fragmented hence organizations need to offer distinct products that are suitable to the respective application. Key competitors operating in the contact adhesives market are 3M Company, Delo Industrial Adhesives, Pytotek Inc, Sika Ag, Adco Limited, Collano Adhesives AG, and Helmtin Inc., Royal Adhesives & Sealants LLC, Huntsman International LLC., and Jowat Se.
Key Segments of Contact Adhesives Market:
- Styrene-Butadiene Copolymer
- Solvent Based
- Leather & Footwear
- North America
- Asia pacific
- Latin America
- Middle east & Africa