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“The contact adhesives market is projected to grow at a CAGR of 5.15% from 2017 to 2022”
The contact adhesives market is projected to grow from USD 3.87 billion in 2017 to USD 4.97 billion by 2022, at a CAGR of 5.15% between 2017 and 2022. The growing demand for superior adhesives in various applications from end-use industries, such as woodworking, automotive, and construction, is expected to fuel the growth of the contact adhesives market, while stringent regulations by regulatory bodies are expected to restrain the manufacturing of solvent-based contact adhesives globally. For example, health organizations are regulating the use of chemical-based products in applications where human exposure to such chemicals can lead to serious health hazards.
“Automotive is projected to be the fastest-growing application segment of the market during the forecast period”
The automotive segment is expected to be the fastest-growing application segment of the contact adhesives market during the forecast period. Owing to the growing domestic demand, increasing income levels, and easy access to resources, APAC has emerged as the leading consumer as well as producer of automobiles. The demand for contact adhesives from the automotive industry in the Southeast Asian countries, such as the Philippines, Thailand, Singapore, Malaysia, and Vietnam, is increasing. The rising demand for contact adhesives for critical applications in the emerging countries such as India and China is also expected to drive the market.
“Rising demand from Asia Pacific is a key factor expected to drive the growth of the contact adhesives market”
The Asia Pacific region is the largest market for contact adhesives and is expected to witness the highest growth during the forecast period. High economic growth, growth in manufacturing industries, availability of cheap labor, growing end-use markets, and global shift of production facilities from developed markets to emerging markets are some of the key factors driving the contact adhesives market in Asia Pacific.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of the primary interviews is given below:
- By Company Type: Tier 1 – 27%, Tier 2 – 46%, and Others – 27%
- By Designation: C-level – 36%, Director-level – 28%, and Others – 36%
- By Region: North America – 18%, Europe – 27%, Asia Pacific – 46%, RoW – 9%
Note: Others include sales managers, marketing managers, and product managers.
RoW includes Middle East, Africa and South America
The tiers of companies are defined based on their total revenues in 2015: Tier 1 = >USD 7 billion, Tier 2 = USD 500 million to USD 7 billion, and Tier 3 =
Key companies profiled in this market research report include Henkel (Germany), 3M (US), Bostik (France), H.B. Fuller (US), Illinois Tool Works (US), Sika (Switzerland), and Pidilite Industries (India), among others.
The report covers the market for contact adhesives and its applications across different industry verticals and regions. It aims at estimating the market size and potential of the contact adhesives market across different formulating technologies, types, end-use industries, and regions. The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
Reasons To Buy the Report
The report will help market leaders/new entrants by providing them the closest approximations of revenues in the contact adhesives market. This report will also help stakeholders better understand the market’s competitive landscape and gain insights to position their businesses and formulate market strategies. The report will also help stakeholders understand the pulse of the market, and acquire information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on contact adhesives offered by top market players
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the contact adhesives market Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for contact adhesives across varied regions Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the contact adhesives market Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the contact adhesives market