PUNE, India, February 1, 2018 /PRNewswire/ --
ReportsnReports.com adds Contact Adhesive Market Report is forecast to reach $4.97 billion by 2022 from $3.87 billion in 2017 at a CAGR of 5.15% during (2017-2022) driven by properties such as less cure time, strong bond, and better adhesion to a variety of substrates in contact adhesive products; while the said market is slowly shifting from traditional solvent-based adhesives to water-based adhesives driven by the requirement of environmental compliance for various end-use industries. Technological advancements are expected to fuel the demand for contact adhesives in mature markets such as North America and Europe.
Browse 86 Market Data Tables and 39 Figures spread through 131 Pages and in-depth TOC on "Contact Adhesive Market by Resin Type (Neoprene, Polyurethane, Acrylic, SBC), Technology (Solvent-Based, Water-Based), End-use Industry (Woodworking, Leather & Footwear, Automotive, Construction) - Global Forecast to 2022" http://www.reportsnreports.com/reports/1314464-contact-adhesive-market-by-resin-type-neoprene-polyurethane-acrylic-sbc-technology-solvent-based-water-based-end-use-industry-woodworking-leather-footwear-automotive-construction-global-forecast-to-2022.html .
The contact adhesives market has a diversified and established ecosystem of upstream players such as raw material suppliers, and downstream stakeholders, such as manufacturers, vendors, end users, and government organizations. Key players operational in the market include Henkel (Germany), 3M (US), Bostik (France), H.B. Fuller (US), Illinois Tool Works (US), Sika (Switzerland), Pidilite Industries (India), and Royal Adhesives & Sealants (US).
The Asia Pacific region is the largest contact adhesives market and is expected to witness the highest growth during the forecast period. High economic growth, growth in manufacturing industries, availability of cheap labor, growing end-use markets, and global shift of production facilities from developed markets to emerging markets are some of the key factors driving the contact adhesives market in Asia Pacific.
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Rising demand from Asia Pacific will drive the growth of the contact adhesives market. The growing demand for superior adhesives in various applications from end-use industries, such as woodworking, automotive, and construction, is expected to fuel the growth of the contact adhesives market, while stringent regulations by regulatory bodies are expected to restrain the manufacturing of solvent-based contact adhesives globally. For example, health organizations are regulating the use of chemical-based products in applications where human exposure to such chemicals can lead to serious health hazards.
Automotive is projected to be the fastest-growing application segment of the Contact Adhesive Market during the forecast period. Owing to the growing domestic demand, increasing income levels, and easy access to resources, APAC has emerged as the leading consumer as well as producer of automobiles. The demand for contact adhesives from the automotive industry in the Southeast Asian countries, such as the Philippines, Thailand, Singapore, Malaysia, and Vietnam, is increasing. The rising demand for contact adhesives for critical applications in the emerging countries such as India and China is also expected to drive the market.
Order a copy of "Contact Adhesive Market by Resin Type (Neoprene, Polyurethane, Acrylic, SBC), Technology (Solvent-Based, Water-Based), End-use Industry (Woodworking, Leather & Footwear, Automotive, Construction) - Global Forecast to 2022" research report at http://www.reportsnreports.com/purchase.aspx?name=1314464 .
The report covers the contact adhesives market and its applications across different industry verticals and regions. It aims at estimating the market size and potential of the contact adhesives market across different formulating technologies, types, end-use industries, and regions. The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
In the process of determining and verifying the contact adhesives market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted. The break-up of the primary interviews is given below:
- By Company Type: Tier 1 - 27%, Tier 2 - 46%, and Others - 27%
- By Designation: C-level - 36%, Director level - 28%, and Others - 36%
- By Region: North America - 18%, Europe - 27%, Asia-Pacific - 46%, RoW - 9%
Note: Others include sales managers, marketing managers, and product managers. RoW includes Middle East, Africa and South America. The tiers of companies are defined based on their total revenues in 2015: Tier 1 = >USD 7 billion, Tier 2 = USD 500 million to USD 7 billion and Tier 3 = < USD 500 million.
Another research titled Low VOC Adhesive Market Global Forecast to 2022 says, the market size of low VOC adhesive is estimated to be $41.58 billion in 2017 and is projected to reach $55.29 billion by 2022, at a CAGR of 5.9%. The polyurethane chemistry segment of the low VOC adhesive market is projected to register the highest CAGR during the forecast period. The low VOC adhesive market in Asia-Pacific is projected to register the highest CAGR during the forecast period. Companies such as H.B. Fuller (U.S.), Henkel (Germany), Dow (U.S.), Sika (Switzerland), Bostik (France), 3M (U.S.), Huntsman (U.S.) have been profiled in this 167 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1228849 .
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