The global contact adhesives market size is projected to grow from USD 2.8 billion in 2023 to USD 3.5 billion by 2028, at a CAGR of 4.3%. The primary drivers for this market include innovations, cost-effective procedures, value-chain optimization, improvements in present applications, and upcoming applications. Research institutes and manufacturers are taking the lead and investing extensively in R&D to advance the technical development of contact adhesives in terms of performance, efficiency, durability, and better end-use product qualities. The contact adhesives market has been expanding in tandem with the construction sector. The contact adhesives market has been driven by an increasing urban population, global economic recovery, and expansion in the automotive and leather & footwear sectors. People are opting for eco-friendly water-based contact adhesives solutions as they become more aware of global warming and environmental issues, creating an opportunity for contact adhesives makers.
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Asia Pacific has the largest market for contact adhesives. The primary end-use sectors of woodworking, automotive, and construction, together with rising demand in the Asia Pacific, are likely to drive the future need for contact adhesives. Contact adhesives are in significant demand throughout Asia Pacific, particularly in China, India, and Southeast Asian countries. The region’s contact adhesives market is being driven by factors such as a growth in residential development, a change in industrial bases from developed to emerging nations, and an increase in the variety of applications. Contact adhesive demand is also expanding rapidly in Indonesia, Vietnam, the Philippines, Malaysia, and Thailand.
People’s increasing disposable income in developing countries, remodeling and renovation of residential and commercial buildings, and people’s shifting preference for sustainable adhesives products are some of the drivers and opportunities for the contact adhesives market. Controlling the cost of contact adhesives, on the other hand, is a big difficulty for this sector. The furniture industry’s preference for furniture made of fiberboard and metal is a key impediment to the contact adhesives business.
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There are various small, medium, and large players operating in the market. Some of the major market players include Henkel AG (Germany), H.B. Fuller (US), Sika AG (Switzerland), Arkema (Bostik SA) (France), 3M (US), Huntsman Corporation (US), Illinois Tool Works Inc. (US), and Pidilite Industries Limited (India). They have adopted various developmental strategies such as investment & expansions, new product launches, mergers & acquisitions, and joint ventures to increase their share in the market.
Henkel AG: Henkel AG manufactures, sells, and distributes home and beauty care products. The company also offers adhesive technology solutions. It works in three divisions: Adhesive Technologies, Beauty Care, and Laundry and Home Care. Adhesives, sealants, and functional coatings are sold by the Adhesive Technologies division to consumers, craftspeople, and industrial users. The Beauty Care section includes hair colorants, hairstyle, hair care, toiletries, skincare, and oral hygiene products. Heavy-duty and specialty detergents, fabric softeners, laundry performance boosters, various fabric-care products, hand and automated dishwashing solutions, and bathroom cleaners, including household, glass, and specialty cleaners, are all available in the Laundry and Home Care section.
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H.B. Fuller: H.B. Fuller is a global adhesives manufacturer, formulator, and marketer. The company has four operating segments: Hygiene, Health and Consumable Adhesives, Engineering Adhesives, Construction Adhesives, and Corporate. It provides adhesives for various applications such as assembly of electronic devices, vehicle assembly, packaging, and flexible packaging. The company has a strong customer base and operates in several countries across Europe, North America, and Asia Pacific, among other regions. With 55 manufacturing sites in 42 countries, H.B. Fuller is a global adhesive supplier that also understands local challenges and priorities. The company’s key competitors are Henkel AG (Germany) and Arkema (France).
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