Elastic Adhesive Market is expected to grow at Significant CAGR from 2019 to 2030.
Elastic adhesives are used for bonding and sealing dissimilar substrates such as buses, trains and washing machines that need to withstand vibration. Superior properties possessed by the elastic adhesives make them suitable for use in various industries such as building & construction, transportation, and packaging & labeling. They offer strong rubber-like elasticity and adhesive properties such as low contraction distortion when curing. They also offer high peel strength, flexibility, and impact resistance.
The global elastic adhesive market is driven by increasing investment in the residential and non-residential construction industry. The product is widely used in the construction activities such as tiling, flooring, tile grout, and subfloor preparation. Rapidly expanding construction industry in the developing economies such as India and China coupled with rising disposable income is augmenting the market growth. Increasing spending on construction activities by the government for the infrastructural development is likely to drive the market growth across regions.
Expanding automotive industry with the increasing demand for lightweight vehicles is fuelling the product demand worldwide. Furthermore, growing environmental regulations as a result of rising carbon emissions are likely to propel the market growth. Surging demand for aircraft with climbing air traffic and growing tourism in the emerging nations is another factor expected to drive the elastic adhesives growth.
In 2014, Henkel AG & Co., KGaA, a German chemical and consumer goods company, introduced two new products – Teroson EP 5065 and Tereson MS 9221 widely suitable for structural adhesions in vehicle components. In 2015, another key player Arkema, a global manufacturer of specialty chemicals and advanced materials, acquired Bostik, one of the largest adhesives and sealants companies. This acquisition is expected to strengthen Arkema to become a world leader in specialty chemicals and high-performance materials.
Some of the key players in the global elastic adhesives market are Henkel AG & Co., KGaA (Germany), Arkema (France), DowDuPont (U.S.), 3M (U.S.), Wacker Chemie AG (Germany), H.B. Fuller (U.S.), CEMEDINE Co., ltd (Japan), ThreeBond Holdings Co., Ltd (Japan), WEICON GmbH & Co.KG (Germany), Mapei Construction Products India Pvt Ltd (India), and SAMEDIA (Germany).
Elastic Adhesives Market share, by the application (%)
Asia Pacific was the fastest growing region in the elastic adhesives market with the growing construction industry along with rising investment in the infrastructure activities by the government. Initiatives taken by the Indian government such as the development of smart cities and construction of Navi Mumbai International Airport is likely to augment the market growth further. Additionally, surging demand for the automobiles as a result of increased spending on the automobiles is propelling the market growth.
North America is another prominent region in the elastic adhesives market as a result of reviving the automotive industry. Increasing demand for fuel-efficient vehicles as a result of rising environment issues is driving the market growth further. Rising R&D in the aviation industry for the development of electric aircraft is likely to stimulate the product demand in this region.
Europe is likely to witness a significant growth during the review period with surging demand for lightweight commercial vehicles as a result of emission targets set by the European Union. Furthermore, increasing consumption of packaged food products and beverages due to convenience and improved shelf life is set to propel the market growth.
Latin America is expected to witness a considerable growth with respect to expanding automotive industry, especially in Brazil and Mexico.
The Middle East and Africa are likely to witness moderate growth during the review period due to growing demand as a result of increasing vehicle sales manufactured by the PSA Groupe.
The global elastic adhesives market is segmented into type, application, end-use industries, and region.
On the basis of type, the market is segregated into silicone modified polymers, silicone, polyurethane, and others. The silicone type is further sub-segmented into denatured silicone and blend of denatured silicone and epoxy.
Based on the application, the market is segmented into building maintenance, floor covering, automobiles, aircraft, ships, domestic appliances, and others.
Based on the end use industry, the market is segmented into construction, transportation, packaging & labeling, electronics, and others.
Based on the region, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
|Market Size||2030: Significant Value|
|CAGR||(2022- 2030) : Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application, End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Henkel AG & Co., KGaA (Germany), Arkema (France), DowDuPont (U.S.), 3M (U.S.), Wacker Chemie AG (Germany), H.B. Fuller (U.S.), CEMEDINE Co., ltd (Japan), ThreeBond Holdings Co., Ltd (Japan), WEICON GmbH & Co.KG (Germany), Mapei Construction Products India Pvt Ltd (India), and SAMEDIA (Germany)|
|Key Market Opportunities||Increasing spending on construction activities by the government for the infrastructural development|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Elastic adhesives are mainly used for bonding together machines that are expected to undergo significant vibration.
Major applications of elastic adhesives include building maintenance, floor covering, automobiles, aircrafts, ships, and domestic appliances.
Growth of the construction industry is likely to be the major driver for the elastic adhesives market.
Asia Pacific is the fastest growing regional market for elastic adhesives, due to the growing construction industry in the region.
Leading players in the elastic adhesives market include Henkel, Arkema, and DowDuPont, among others.