(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 09, 2021, 05:28 /Comserve / -- Middle-East and Africa Contact Adhesives Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
Middle-East and Africa contact adhesive market is expected to grow at a CAGR of more than 3% during the forecast period. The demand for contact adhesive is widely driven by the robust growth in construction activities. However, stringent VOC emission regulations may affect the growth of the studied market.
- The neoprene-based segment dominated the market. It is likely to grow during the forecast period, owing to the rising demand from the footwear and construction industry.
- The shifting focus toward water-borne adhesives is likely to offer opportunities for the contact adhesive market in the region.
- Saudi Arabia stands to be the largest market for contact adhesive in the region, with consumption being majorly driven by the growing demand from end-user industries, such as packaging, construction, and woodworking.
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Key Market Trends
Building and Construction Industry to Drive the Market Demand
- Contact adhesives' properties such as good cohesion, adhesion and elasticity, high cohesive strength, flexibility, high elastic modulus of substrate, resistance from thermal expansion, environmental resistance from UV light, corrosion, salt water, rain, and other weathering conditions, makes it extensively useful for application in construction industry.
- They are mainly used in wooden flooring and artificial turf, owing to their property of strain crystallization.
- Countries, such as Saudi Arabia, Qatar, United Arab Emirates, and Egypt has been witnessing strong growth in construction investments and activities. The growth of construction industry in the region is majorly fueled by the Middle Eastern countries' efforts to develop non-oil sectors.
- Hence, such trends leading to the growth of construction industry is expected to propel the consumption of contact adhesive for construction applications in the region.
Saudi Arabia to Dominate the Market
- Saudi Arabia dominate the consumption of contact adhesive in the region, where the growth in construction, footwear, packaging and consumer goods segments have been driving the consumption of contact adhesive.
- Saudi Arabia is focusing on establishing itself as the new automotive hub in the Middle East. Though the country is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs) to open their production plants in the Kingdom, to develop the domestic auto industry.
- The country is embarking a large number of residential and commercial projects which is expected to increase the demand for adhesives and sealant for construction applications. Besides, there are numerous construction projects (including construction of hotels, hospitals, entertainment city, etc.) in line for development. With such projects scheduled to be completed within the next five years, the demand for acrylic adhesives is likely to increase for applications in construction industry.
- The packaging industry in Saudi Arabia is one of the major drivers for the contact adhesive market. With increasing demand for instant foods, the demand for safe, and sustainable packaging is growing at a rapid pace, which is further likely to offer opportunities for the studied market.
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- Hence, all such trends are likely to drive the growth of contact adhesive market in the country during the forecast period.
Competitive Landscape
The Middle-East and Africa contact adhesive market is fragmented in nature. Some of the key players in the market includes 3M, Arkema Group, H.B. Fuller, Sika AG, and Henkel AG & Co. KGaA, amongst others.
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Report
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Robust Growth in Construction Activities
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Stringent Environmental Regulations Regarding VOC Emissions
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
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