Contact Adhesives Market Growth Steady at 5.15%
The Asia-Pacific region is reportedly the largest contact adhesives market.
The contact adhesives market is forecast to reach $4.97 billion by 2022 from $3.87 billion in 2017 at a compound annual growth rate (CAGR) of 5.15%. This market is driven by properties such as: less cure time, strong bond, and better adhesion to a variety of substrates in contact adhesive products. The contact adhesives market is reportedly slowly shifting from traditional solvent- 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.
The Asia-Pacific region is reportedly 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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