Contact Adhesives Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2024-2030

Contact Adhesives Market size is forecast to reach $4.1 billion by 2030, after growing at a CAGR of 5.5% during 2024-2030. The rise in demand for solvent- and water-borne adhesives from residential, commercial, and industrial sectors drives the growth of the contact adhesives market during the forecast period. Whereas, the growing construction activities and transportation sector across the developed and developing economies also contribute to the growth of the global contact adhesive market size over the study period.

A noteworthy trend in the contact adhesives market is the increasing emphasis on eco-friendly formulations. As environmental consciousness rises, manufacturers are shifting towards the development and adoption of contact adhesives that are free from volatile organic compounds (VOCs) and other harmful substances. Water-based and solvent-free formulations are gaining traction, aligning with stringent regulatory requirements and customer preferences for sustainable and low-impact adhesive solutions. This trend not only reflects a commitment to environmental responsibility but also caters to the growing demand from industries seeking greener alternatives for bonding applications.

The contact adhesives market is witnessing a trend driven by advancements in hybrid and modified polymer technologies. Manufacturers are investing in research and development to create innovative formulations that combine the best attributes of different polymer types. Hybrid contact adhesives often blend the strengths of solvent-based and water-based systems, providing improved adhesion properties, flexibility, and reduced environmental impact. Additionally, modified polymer technologies enhance performance characteristics, offering solutions tailored to specific applications and substrates. This trend reflects the industry's commitment to continuous improvement and meeting evolving customer needs for adhesives with enhanced versatility and efficacy.

                                         

The “Contact Adhesives Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Adhesive Bandages Market.

 

 

● The COVID-19 pandemic has had both direct and indirect impacts on the contact adhesives market. The initial phase of the pandemic witnessed disruptions in supply chains, manufacturing operations, and a decline in construction and automotive activities, which are key end-users of contact adhesives. Lockdowns, travel restrictions, and reduced consumer spending contributed to a slowdown in construction projects and a decline in automotive manufacturing, directly affecting the demand for contact adhesives. However, as the world adapted to the new normal, certain trends emerged within the contact adhesives market. The increased focus on remote work and changing consumer behavior drove a surge in e-commerce, leading to an uptick in demand for packaging materials and related adhesives.

● Geopolitical events, such as conflicts or wars, can have indirect impacts on global trade, supply chains, and economic stability. In the context of the contact adhesives market, potential consequences may include disruptions in the supply chain for raw materials, changes in manufacturing costs, and uncertainties in demand from regions affected by the conflict.

Among the regions, in 2023, the APAC region dominated the Contact Adhesives market with a share of more than 35%, followed by North America and Europe. The growing aviation and automotive industries across the region are contributing to the growth of the contact adhesives market in the APAC region. According to OICA, APAC automotive sales witnessed a growth of over 6.52% during 2024-2030, with Southeast Asian countries having huge potential to grow. Additionally, the growing demand and sales of electric vehicles in China, South Korea, Japan, and India are also driving the growth of the APAC region in the global market.

The solvent-borne segment held the largest share of more than 35% in the Contact Adhesives market in 2023 due to being widely used in various adhesive applications including retail consumer (DIY), construction, footwear, and woodwork and joinery. The pressure-sensitive and the specialty of forming a high-performance bond to a broader range of substrates drives the demand for solvent-borne contact adhesives over the forecast period. Whereas, due to stringent environmental regulations across the United States and Europe and the presence of significant amounts of volatile organic compounds (VOCs) in solvent-borne adhesives compared to water-borne contact adhesives, restraint the growth of this segment in the global contact adhesives market during the forecast period.

The packaging segment is projected to witness substantial growth of CAGR 6.3% over the forecast period owing to the increased urbanization and growing consumer preferences for packaged food. The growth of the e-commerce sector is also contributing to the growth of the packaging segment, which in turn drives the growth of the global contact adhesive industry market over the forecast period. Additionally, the more fast-paced and on-the-go lifestyle of consumers, growing middle-class income, and rise in demand for single-use packaging products with environment-friendly further propels the growth of this market. Whereas, more stringent norms and regulations are driven by consumer food safety is also impacting contact adhesive. Furthermore, the growing need to fight with the global food waste battle drives the demand for packaging that keeps the food products fresh for a longer time and can be easily resealed.

The properties of contact adhesives include resistance from thermal expansion, well resistance to corrosion, and weathering conditions, high cohesive strength, the high elastic modulus of a substrate, and environmental resistance especially from UV light, which makes it extensively useful for application in the building and construction industry. In building and construction, contact adhesives are used for carpet layment, countertop lamination, drywall lamination, roofing, wall coverings, and resilient flooring among others. Whereas, the growing trend of timber buildings in European countries like Germany and Norway and the robust growth in construction activities in the Middle East region including UAE, Qatar, and Saudi Arabia drives the growth of the contact adhesive share during the forecast period.

Contact adhesives are used in various applications of construction, transportation, industrial, electronic, and consumer, among others. The growing environmental awareness among consumers and stringent environmental norms from developed and developing regions drive the demand for contact adhesives with low Volatile organic compounds (VOC) emitting material like water-borne adhesive. Governments globally are focusing on green practices to reduce the impacts of chemicals on human health and the environment. At present, Contact Adhesives are required to meet the inevitably strict environmental standards, as developing countries like China and India are updating instructions to control emissions which will further boost the adoption of Contact Adhesives.

The growth of electric vehicles is a good sign for the environment as well as for the global market growth. On the other side, the declining growth of diesel-based vehicles become a challenging factor for the growth of this market. In automotive, contact adhesive technology is used in car interiors and exteriors, improving the appearance, comfort, and safety of cars. However, the rising shift towards environment-friendly vehicles in developed and developing nations would hamper the growth of existing diesel engine vehicles and also impact the Contact Adhesives market over the forecast timeframe. Furthermore, due to stringent CO2 emission standards from Europe, North America, and the APAC region, the vehicle manufacturers shifting away from diesel technology in response to tighter NOX emission standards, which in turn hamper the growth of diesel-based vehicles. Additionally, the ban imposed on the sale of diesel vehicles across European countries like the Netherlands, Germany, and France and the emerging Euro-VI and BS-VI norms in Europe and India further hamper the growth of the diesel vehicle market. In order to meet zero-emission targets under the “Paris Climate Accord” in 2017, the French government has announced that it will ban diesel and gasoline-powered vehicles completely and switch to electric-powered vehicles by 2040. This ban on diesel vehicles acts as a challenging and restraining factor for the growth of the global contact adhesive market size.

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Adhesive Bandages Market. The top 10 companies in this industry are listed below: