An adhesive is a substance that is used to bind two surfaces together. Contact adhesives are adhesives that are employed for high strength binding of different materials. They are also known as semi-structural adhesives. The surfaces of both substrates to be bonded are coated with contact adhesive evenly. Once the adhesive dries by the evaporation of solvent, slight pressure is applied, resulting in high initial strength. The drying process of the adhesives is fast, and the bonded surfaces are very difficult to separate. Thus, correct surface arrangement of the materials before application of the adhesives is very important. The adhesive is able to withstand rapid changes in temperature, moisture, and vibrations. Contact adhesives can be utilized for binding of materials such as paper & board, wood, leather, fabric, metal, rubber, glass, ceramic, and plastic. These adhesives are preferred for products with large surface area.
The contact adhesives market can be segmented based on dispersion system, raw material, mode of application, end-use industry, and region. Contact adhesives are manufactured in either solvent-based system or water-based system. Raw materials (base polymers) utilized for the production of contact adhesives include polychloroprene, polyurethane, acrylic polymers, styrene butadiene rubber, butyl rubber, and natural rubber. The raw material and its grade and composition varies according to the end-use application of the adhesives. Based on mode of application, the contact adhesives market is divided into spraying, curtain coating, roller coating, and brushing. Spraying is the most widely utilized mode of application of the adhesives. Roller and curtain coatings are employed for flat sheets. In terms of end-use industries, the contact adhesives market can be segmented into footwear, automotive, building & construction, furniture, packaging, and others. Based on region, the contact adhesive market can be segregated into Asia Pacific, Europe, Middle East & Africa, North America, and Latin America.
Easy and fast adhesion, versatility in adhesion to materials, high strength, flexible bonds, and resistance to aging, heat, oils, and chemicals, are the driving factors of the contact adhesives market. Solvent-based adhesive systems are preferred over water-based systems due to their greater strength and durability. However, commonly used solvents are flammable and toxic. Therefore, additional precautions are required for safe handling of solvent-based systems. Stringent environmental rules and regulations for VOC emission are likely to hamper the market of contact adhesives. On the other hand, water-based systems are safe and eco-friendly, as compared to solvent-based systems. Water based systems require more time to dry and have poor performance as compared to that of solvent-based systems. Polychloroprene is expected to dominate the contact adhesives market due to its high ultimate and shear strength. The polymer is majorly utilized in the footwear industry. Acrylic polymers are estimated to hold a major share of the market by the end of the forecast period due to eco-friendly nature.
Asia Pacific is anticipated to dominate contact adhesives market due to the rise in number of vehicles and expansion of the automotive industry in the region. China and India are anticipated to hold prominent share of the market due to the expansion of their economies and the increase in buying capacity. Demand for contact adhesives is rising in North America and Europe due to the rise in construction and repair & maintenance activities.
Major players operating in the global contact adhesives market include 3M, Arkema Group, Royal Adhesives & Sealants LLC, Henkel AG & Co., and Wilsonart LLC.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.