Northbrook, IL 60062 -- (SBWIRE) -- 10/18/2023 -- The report "Contact Adhesive Market by Resin Type (Neoprene, Polyurethane, Acrylic, SBC), Technology (Solvent-Based, Water-Based), End-use Industry (Woodworking, Leather & Footwear, Automotive), Region (North America, Europe, APAC, MEA)- Global Forecast to 2028", 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 contact adhesives market is divided into five key regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. In terms of demand, Asia Pacific is expected to be the market leader over the forecast period. The expansion of the housing and commercial sectors has given the contact adhesives industry a much-needed boost. Growing sectors such as leather and footwear and automotive are propelling the Asia Pacific contact adhesives market forward.

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271 market data Tables
51 Figures
245 Pages

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The solvent-based segment is expected to account for one of the largest shares in 2023.
Adhesives are created utilizing solvents in solvent-based technologies, which evaporate during drying and are often cycled back into the process. Solvent-based adhesives are used in specialized applications such as porous woodworking substrates, where water-based or solvent-free adhesives fail to fulfill technical criteria. Cost, safety, productivity, and compliance with clean air or VOC standards have all contributed to a significant fall in demand for solvent-based adhesives, with the trend turning towards water-based, solvent-less, or reactive alternatives. Solvent-based adhesives are excellent for both porous and non-porous surfaces, and once the liquid has dried, leaving just the bonding agent left, they provide strong adhesion. They also stick to surfaces better than many other types of water-based adhesives.

Asia Pacific is expected to account for one of the largest share in 2023.
Asia Pacific is predicted to be the fastest-growing market in terms of value over the projection period. The region's contact adhesives sector is being driven by a vast and increasing population base, as well as a shift in manufacturing from North America and Europe to Asia Pacific. Asia Pacific is predicted to have the highest CAGR of 5.3% throughout the projection period.

The key players in the contact adhesives market 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).

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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.

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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