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

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 - 2030). 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

March 2023: 3M Company announced the acquisition of Nanolink, a developer of high-performance elastic adhesives. The acquisition is expected to strengthen 3M's position in the growing market for elastic adhesives.
April 2023: Huntsman Corporation launched a new line of elastic adhesives for the medical device industry. The adhesives are designed to be biocompatible and meet the strict regulatory requirements for medical devices.

Intended Audience

• Elastic adhesives manufacturers


• Traders and distributors of elastic adhesives


• Research and development institutes


• Potential investors


• Raw material suppliers


• Nationalized laboratory

Report Attribute/Metric	Details
Market Size	2030: USD 31.82 Million
CAGR	(2022- 2030) : 6.3% CAGR
Base Year	2021
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	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