Asia Pacific is the largest consumer of contact adhesives. The growing number of residential and commercial buildings, coupled with increasing population and growing urbanization, mainly in China and India, is projected to drive the woodworking and leather & footwear industries during the forecast period.
Mergers & acquisitions was the key strategy adopted by the major players to achieve growth in the contact adhesives market between 2012 and 2017. This strategy accounted for a share of 51% of all growth strategies adopted by key market players. Companies adopted this strategy to provide improved products and develop contact adhesives for use across new applications. 3M (US), Henkel (Germany), Sika (Switzerland), Bostik (France), H.B. Fuller (US), Royal Adhesives and Sealants (US), and Pidilite Industries (India) are some of the leading players that adopted this strategy between 2010 and 2016.
Besides mergers & acquisitions, companies adopted other strategies such as new product launches; investments & expansions; and partnerships, contracts & agreements to increase their share in the contact adhesives market.
In June 2016, H.B. Fuller acquired Cyberbond, which has helped the company enhance its overall product offerings in the contact adhesives market.
In April 2016, H.B. Fuller acquired Advanced Adhesives to expand its business operations in Australia and New Zealand. With this acquisition, the company is expanding its offerings for a wide range of industries, including woodworking applications
In December 2015, H.B. Fuller acquired TONSAN Adhesive. This acquisition will help the company strengthen its position in the overall adhesives market.
In September 2014, Pidilite Industries acquired the adhesive business of Blue Coat (India) for USD 43 million. The business segment includes woodworking adhesives, paint products, and wood preservatives. With this acquisition, Pidilite has strengthened its business in the Indian market.
In September 2014, H.B. Fuller announced the agreement to purchase Royal Adhesives & Sealants. This business consistently delivers industry-leading growth rates, EBITDA margins, and free cash flow that are expected to enhance H.B. Fuller’s position as a leader in the global adhesives market.
In August 2016, Henkel expanded its business platform by the launch of a new website for adhesives portfolio in furniture and building components, which is expected to help customers get in-depth knowledge about products and their applications.
New Product Launches:
In October 2015, Henkel presented its product Purbond, under LOCTITE brand, a well-known brand for structural engineered wood at an event named LIGNA. This will help the company display its products and get a competitive advantage over other companies.
In June 2015, At LIGNA 2015, H.B. Fuller announced the launch of new adhesives products for woodworking applications. With this, the company is expected to increase its foothold in the woodworking market.
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
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