GarnerInsights.com has added the report, “Contact Adhesive Market – Global Market Synopsis, Growth Factors, Industry Segmentation, Regional Analysis And Competitive Analysis 2017 – 2025” published by Reports Monitor. The far-reaching research study offers a 360-degree analysis of the market crosswise over different unequivocal elements, including market share by segmentation type, market cost analysis, market effect factors, and marketing strategy and promoting methodology.
An adhesive is a substance that is used to bind two surfaces together. Contact adhesives provide high initial strength. These are based on polymers which can apply to one-side of any surface or both sides, two separate items to bound together and resist their separation. The use of adhesives offers many advantages over binding techniques such as sewing, mechanical fastening, and thermal bonding. Contact adhesives are able to resist fast changes in temperature, moisture, and vibrations. And they are used to bind materials such as paper & board, wood, leather, fabric, metal, rubber, glass, ceramic, and plastic.
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Market Growth Factors:
Adhesives are likely to replace the conventional joining techniques. The usage of contact adhesives in the automobiles and aircrafts reduces the weight which helps to drive this market. Automobile industry started replacing welding activities of engine assembly parts with adhesives to reduce overall weight of the vehicle body which results into fuel efficiency. The glass sheets installed in the large building structures required contacting adhesives to achieve weather proof structure which boost the market share of adhesives market. However, the major challenge for contact adhesive market is easy availability of adhesives and raw material costing for manufacturers. As the use of metal and steel furniture increasing which required welding to produce the final product affect the overall contact adhesive market.
The contact adhesive market is segmented on the basis of technology type which is further sub divided into water-based, solvent-based, hot melt, and pressure sensitive. Water-based adhesives drive overall adhesive market. Water based contact adhesives must be dried completely to obtain optimum adhesion and water resistance particularly on metal substrates. It further classified depend on type such as, neoprene, polyurethane, acrylic, Styrene Butadiene Copolymer (SBC). On end-use industry contact adhesive market is segregated as woodworking, automotive, leather & footwear, and construction.
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Geographically, the contact adhesive market is analysed into North America, Europe, Asia Pacific, Middle East & Africa and LAMEA. Asia Pacific is the largest region in terms of market revenue share which is followed by Europe and North America due to increase in construction as well as repair & maintenance activities.
The major key players for contact adhesive market are 3M Company, Henkel, H.B. Fuller, Bostik, Sika, Illinois Tool Works, Huntsman International, Pidilite Industries Limited, Jubilant Industries, and Royal Adhesives & Sealants. As these companies invested high amount in research and development to develop the market globally.
• On July, 2017, Henkel strengthens its Adhesive Technologies business and complements its technology portfolio with the successful closing of the acquisitions of the global Darex Packaging Technologies business and the Sonderhoff Group.
• On January, 2017, H.B. Fuller Company purchased the industrial adhesives business of Wisdom Worldwide Adhesives, a provider of adhesives for the packaging, paper converting, and assembly markets.
Growth Factors Details:
•Among end-use industries, the industrial segment is projected to lead the Contact Adhesive Market during the forecast period.
•Among types, the Contact Adhesive segment is projected to grow at the highest CAGR during the forecast period.
•Increasing demand for Contact Adhesive in the Asia-Pacific is the major driver for the growth of Contact Adhesive market in the region.