Elastic Adhesive Market Research Report Information By Type (Silicone Modified Polymers, Silicone), Application (Building Maintenance, Floor Covering, and Automobiles), By End-Use (Construction, Transportation), By Region - Forecast till 2030
ID: MRFR/CnM/4573-HCR | 100 Pages | Author: Anshula Mandaokar | May 2023
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Elastic Adhesive Market
Elastic Adhesive Market is projected to be worth USD 31.82 Million by 2030, registering a CAGR of 6.3% during the forecast period (2022 - 2028).
$31.82 Billion
6.3%
Asia Pacific
2022 - 2028
Elastic Adhesives Market Overview
Elastic Adhesive Market is projected to be worth USD 31.82 Million by 2030, registering a CAGR of 6.3% during the forecast period (2022 - 2028). Elastic adhesives are used to connect and seal incompatible substrates that must endure vibration, such as buses, railroads, and washing machines. The elastic adhesives' superior qualities make them excellent for application in a variety of industries, including building and construction, transportation, and packaging and labeling. They have high rubber-like elasticity and adhesion characteristics, including little contraction distortion during curing. They're also tough, flexible, and impact-resistant. Increased expenditure in the residential and non-residential construction industries is driving the worldwide elastic adhesive market. Tile, flooring, tile grout, and subfloor preparation are just a few of the applications for the product. The global product demand is being fueled by the expanding automotive sector and the growing desire for lightweight automobiles. The market is being boosted by the rapidly expanding building industry in developing economies like India and China, as well as increased disposable income. The government's increased investment in construction operations for infrastructural development is expected to drive market growth across regions. The global product demand is being fueled by the expanding automotive sector and the growing desire for lightweight automobiles. Growing environmental laws as a result of rising carbon emissions are also expected to drive market expansion. Another factor projected to fuel elastic adhesives growth is the rising demand for airplanes due to rising air traffic and increased tourism in emerging economies.
Key Players
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 (%)
Regional Analysis
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.
Segmentation
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.Recent Development
Henkel AG & Co., KGaA, a German chemical, and consumer goods firm, developed two new products in 2014: Teroson EP 5065 and Tereson MS 9221, both of which are well-suited for structural adhesions in car components. Another important player emerged in 2015. Bostik, one of the world's major adhesives and sealants companies, was acquired by Arkema, a global developer of specialty chemicals and innovative materials. Arkema's position as a global leader in specialty chemicals and high-performance materials is projected to be strengthened as a result of this acquisition.
Intended Audience
- Elastic adhesives manufacturers
- Traders and distributors of elastic adhesives
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2028: USD 31.82 Million |
| CAGR | (2022- 2028) : 6.3% CAGR |
| Base Year | 2021 |
| Forecast Period | 2021 to 2028 |
| 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 | increasing investment in the residential and non-residential construction industry Surging demand for aircraft with climbing air traffic and growing tourism in the emerging nations |
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.
Key Questions Answered
- ✅ Global Market Outlook
- ✅ In-depth analysis of global and regional trends
- ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅ To understand the capability of the major players based on products offered, financials, and strategies.
- ✅ Identify disrupting products, companies, and trends.
- ✅ To identify opportunities in the market.
- ✅ Analyze the key challenges in the market.
- ✅ Analyze the regional penetration of players, products, and services in the market.
- ✅ Comparison of major players’ financial performance.
- ✅ Evaluate strategies adopted by major players.
- ✅ Recommendations
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