Contact Adhesives Market To Generate $3,645.2 Million Revenue by 2030

The global contact adhesives market revenue is expected to reach USD 3,645.2 million by 2030, exhibiting a CAGR of 4.5% during 2024–2030.

The market is driven by the surging demand for these adhesives from the building & construction sector, specifically in Asia-Pacific; growing manufacturing sector, and increasing adoption of automobiles. The leather & footwear industry also uses these adhesives extensively. Further, these agents are undergoing technological innovations as a result of the increasing focus on sustainability.

Also referred to as semi-structural adhesives, contact adhesives are used for high-strength bonding of various materials. They are different from other adhesives as they form a permanent bond if a little pressure is applied. Moreover, they come in many types, each of which has distinct applications and benefits. They possess excellent adhesion and resistance against thermal expansion and environmental elements.

Wooden flooring and artificial turfs use contact adhesives to a large extent because of their strain crystallization. The increasing population, fast urbanization, and surging disposable incomes in developing nations, such as India and China, are propelling the growth of the construction sector, which, as a result, is boosting the contact adhesives market advance.

Polyurethane Accounted for Largest Share

The polyurethane category holds the largest revenue share, of 40%, under the resin type segment, and it will advance with a rate of 4.3% over the forecast period.

Solvent-based adhesives continue to be extensively utilized in numerous sectors, such as industrial assembly, woodworking, and building & construction, owing to their excellent adhesion to a wide variety of substrates, including metals, plastics, wood, and fabric.

Further, manufacturers are continuously trying to bring technological advancements to these materials due to the strict regulations regarding sustainable development and carbon footprint reduction. In this regard, in November 2022, Huntsman Polyurethanes, a business unit of Huntsman Corporation, announced that it has developed a bio-based polyurethane system from vegetable oil for low-carbon automotive acoustics applications. This innovation will help in lowering the carbon footprint of automotive carpet back-foaming significantly.

Construction Industry Dominates Market

The construction industry dominates the end user segment of the market, due to the extensive usage of contact adhesives in a variety of applications in this sector and its fast growth in emerging economies, such as India and China. These adhesives are primarily used in wooden flooring, installing roofing, and assembling furniture. The surging population in developing countries adds to the demand for housing, thus leading to construction on a massive scale.

Further, the automotive sector contributes significant market revenue, owing to the increase in the population, which propels the demand for automobiles. Adhesives are used to bond different trim pieces, such as dashboards, door panels, and headliners, to create a smooth and seamless finish and increase durability. The fast curing of adhesives is also a main factor in reducing the time a vehicle spends along the assembly line.

Top companies manufacturing contact adhesives are Henkel AG & Co. KGaA, H.B. Fuller Company, Sika AG, Arkema S.A., 3M Company, Huntsman Corporation, Illinois Tool Works Inc., Pidilite Industries Limited, Jubilant Industries Ltd., and Ashland Inc.