Middle East & Africa Contact Adhesives Market - Segmented by Technology, Polymer, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Middle East & Africa contact adhesives market is expected to witness a CAGR of approximately 4.40% during the forecast period, 2018 - 2023. South Africa dominated the Middle East & Africa contact adhesives market in 2017, with a market share of around 48%.
Increasing Demand from the Footwear Industry to Drive the Market
Contact adhesives, as they are fluid and flexible in nature and environment-resistant, are used in shoe manufacturing and leatherwork, which is used in making sports equipment, apparel, accessories, among others. These are used for bonding all parts of shoes, including outsoles, insoles, uppers, among others. The footwear market in the Middle East region is growing at around 5% through the years. The footwear industry in Africa too is rising at a steady rate. The growing footwear industry, coupled with the growing use of contact adhesive in footwear is expected to drive the market through the forecast period.
Solvent-borne - The Dominating Technology Segment
Solvent-borne adhesives are combination of solvents and thermoplastics. Solvent-borne adhesives have better bond performance and are more flexible; hence, they are used in wide range of applications, when compared to water-borne adhesives. Solvent-borne contact adhesives are formulated with organic solvents, which make them less sensitive to contaminate, such as grease and oil, on the substrate to be bonded, compared to other types of adhesives. These adhesives are used to bond a wide variety of surfaces, including vinyl, extrusions, sheeting, fabrics, foam, and flexible plastics. The high strength capabilities of these adhesives also make them ideal for laminating applications, such as kitchen and office counter-tops, doors, partitions, and insulation panels. Growing use of solvent-borne adhesives in footwear, construction, and furniture amongst other applications is expected to drive the market through the coming years.
South Africa - the Largest Market amongst Countries
The South African economy has been in crisis since 2016, with depreciation in its currency value and high unemployment rate that has caused the shrinkage of the economic growth. The government is planning to have a one-stop-shop program that is hoped to improve new businesses. The government has also planned to take on new initiatives for promoting investments and build up consumer confidence. The building & construction industry in South Africa has a positive outlook despite the decline in the market. The increase in demand for housing and the growth in new residents in urban areas have increased; the government’s National Infrastructural Plan is supporting this growth with new projects in the coming future. The construction industry is expected to have positive growth during the forecast period, which is also expected to increase the market for contact adhesives.
Major Players: Henkel AG & Co. KGaA, 3M, H.B. Fuller, Sika AG, XCHEM International, and Arkema Group (Bostik SA) amongst others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand, which technology, polymer, and end-user Industry is dominating the market
Information about the countries, which are expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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