Contact Adhesives Market Report 2024

This Contact Adhesives market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The contact adhesives market size has grown strongly in recent years. It will grow from $3.32 billion in 2023 to $3.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth during the historic period can be attributed to factors such as evolving consumer preferences, stringent environmental regulations, heightened awareness of health and environmental issues, fluctuations in raw material prices, and overall economic conditions.

The contact adhesives market size is expected to see strong growth in the next few years. It will grow to $4.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth during the forecast period is expected to be driven by industrial demand, an increase in building and renovation projects, geopolitical factors, market consolidation, and enhanced distribution channels. Key trends anticipated in this period include the development of eco-friendly formulations, advancements in performance characteristics, the creation of adhesives for high-tech applications, customization and tailored solutions, and the emergence of smart adhesives.

The anticipated growth in the building and construction sector is expected to significantly drive the expansion of the contact adhesives market. This sector encompasses the planning, design, and execution of various infrastructure projects, including residential, commercial, and industrial buildings. The growth in building and construction is fueled by several factors, such as urbanization, population increase, economic development, and substantial government investments. Contact adhesives play a crucial role in this sector by providing strong and durable bonds for a variety of materials, enabling quick and efficient installations. For example, a report published in June 2023 by the Northern Ireland Statistics and Research Agency indicated that the overall construction industry experienced a 6.5% expansion from the first quarter of 2022 to the first quarter of 2023, with the housing sector growing by 11.1% and the infrastructure subsector by 3.7%. This expansion in the building and construction sector is therefore a key driver of the contact adhesives market.

Leading companies in the contact adhesives market are concentrating on developing innovative products, such as biobased adhesives derived from renewable resources, to maintain a competitive advantage. Biobased adhesives are sourced from renewable materials rather than traditional petrochemical sources, making them more environmentally friendly and sustainable. For instance, in September 2024, Biophilica Ltd., a UK-based biotechnology firm, launched Brightbond, a 100% biobased adhesive that offers bonding performance comparable to traditional PVA adhesives. This adhesive, made entirely from renewable resources, is capable of bonding a wide range of substrates, including plant-based materials, paper, and textiles, while being non-toxic and eco-friendly. Its water-based formula dries clear with a slight tint, making it ideal for aesthetic applications. Brightbond was developed in response to the increasing demand for sustainable manufacturing solutions, supporting a shift toward circular and eco-friendly products.

In June 2024, Meridian Adhesives Group, a U.S.-based manufacturer and innovator of high-performance adhesives, acquired Bondloc UK Ltd. for an undisclosed sum. This acquisition will enable Meridian to expand its adhesive product portfolio and strengthen its market presence by incorporating Bondloc's specialized products. This integration enhances Meridian's capacity to address complex applications across various industries, including automotive, aerospace, electronics, and general manufacturing. Bondloc UK Ltd. specializes in manufacturing adhesives, sealants, and engineering products.\

Major companies operating in the contact adhesives market are The Dow Chemical Company, 3M Company, Akzo Nobel N.V., Sika AG, Huntsman Corporation, Wacker Chemie AG, Bostik SA, Pidilite Industries Limited, Tremco Incorporated, Jubilant Industries Ltd, Franklin International Inc., CRC Industries Inc., Jowat SE, RLA Polymers Pty Ltd, Apollo Roofing Solutions LLC, Benson Polymers Ltd., Helmitin Adhesives Inc., Soudal N.V., Chemical Concepts Inc., Mapei S.p.A., Chemique Adhesives Inc., Everbuild Building Products Ltd.

Asia-Pacific was the largest region in the contact adhesives market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the contact adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the contact adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Contact adhesives are a specific type of adhesive that create a bond when two coated surfaces are pressed together. They are applied to both surfaces, allowed to dry, and then joined to form a strong, immediate bond. Known for their high initial tack and resistance to heat and moisture, contact adhesives are commonly used in industries such as construction and automotive, making them ideal for materials such as wood, metal, and laminates.

The primary types of contact adhesives include solvent-based, water-based, solvent-free, reactive contact, and hot melt. Solvent-based contact adhesives utilize organic solvents to dissolve the bonding agent, allowing for quick and strong adhesion once the solvent evaporates. These adhesives are formulated with various resin types, including neoprene, polyurethane, acrylic, and styrene-butadiene rubber (SBR), enabling them to bond a wide range of substrates such as wood-to-wood, metal-to-metal, plastic-to-plastic, fabric-to-fabric, and multi-substrate combinations. Their applications span across multiple sectors, including construction and building, furniture and woodworking, automotive and transportation, footwear and leather goods, textiles and fabrics, electronics and appliances, packaging, DIY and crafts, among others.

The contact adhesives market research report is one of a series of new reports that provides contact adhesives market statistics, including the contact adhesives industry's global market size, regional shares, competitors with a contact adhesives market share, detailed contact adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the contact adhesives industry. This contact adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The contact adhesives market consists of sales of brushes, rollers, spray guns, and gloves. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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