The global elastic adhesive market is experiencing significant growth due to its versatility and excellent adhesive strength across various industries. In building and construction activities, elastic adhesives are favored for their ability to form durable bonds with a wide range of materials. Similarly, the automotive and transportation industries rely on these adhesives to enhance the durability and performance of their products. The rubber-like elastic bond formed by these adhesives further contributes to their widespread use. With increasing demand for high-performance bonding solutions, the global elastic adhesive market is expected to witness continued expansion in the coming years.
According to Data Bridge Market Research, the Global Elastic Adhesive Market is to grow at a CAGR of 6.5% in the forecast period of 2022 to 2029.
“Growing demand from the automotive and transportation industries facilitate market growth”
The growing demand from the automotive and transportation industries serves as a significant driver of the global elastic adhesive market. Elastic adhesives offer excellent bonding and sealing properties, making them suitable for various automotive applications, including panel bonding, glass bonding, and structural bonding. The transportation sector's expansion, including the increasing use of electric vehicles, lightweight materials, and advanced assembly methods, further boosts the demand for elastic adhesives. As automotive manufacturers seek high-performance and durable bonding solutions to meet stringent safety and efficiency standards, the adoption of elastic adhesives continues to rise, propelling the market growth.
What restraints the growth of the global elastic adhesive market?
“Rate of acceptance of elastic sealants”
The rate of acceptance of elastic sealants can act as a restraint on the global elastic adhesive market. While the demand for elastic adhesives is growing steadily, some industries and applications may still prefer traditional adhesives or other alternatives. This slower rate of acceptance could be due to factors such as cost concerns, performance uncertainties, or a lack of awareness about the benefits of elastic sealants. Manufacturers and suppliers may face challenges in convincing certain segments of the market to adopt elastic adhesives over conventional options, limiting the market's overall growth potential in specific regions or industries.
Segmentation: Global Elastic Adhesive Market
The elastic adhesive market is segmented on the basis of resin, type, and end-user.
- On the basis of resin type, the market is segmented into polyurethane, silicone, and SMP.
- On the basis of type, the market is segmented into acrylic, and rubber.
- On the basis of end-user, the market is segmented into construction, industrial, automotive, and transportation.
Regional Insights: Asia-Pacific dominates the Global Elastic Adhesive Market
The Asia-Pacific region's dominance in the elastic adhesive market is attributed to several factors. The region's growing income levels, especially among the middle-class population, have increased the demand for construction and building projects, leading to a rise in elastic adhesive consumption. Additionally, governments in the region are investing significantly in infrastructure development, further boosting the demand for elastic adhesives in the construction sector.
North America is expected to exhibit lucrative growth during the forecast period due to the expansion of end-use industries such as construction, industrial, automotive, and transportation. The construction industry's robust growth, driven by urbanization and renovation projects, fuels the demand for elastic adhesives in construction applications. Similarly, the increasing industrial and automotive activities in the region propel the use of elastic adhesives for various bonding and sealing purposes. These factors combined contribute to the positive outlook for the elastic adhesive market in North America.
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The Prominent Key Players Operating in the Global Elastic Adhesive Market Include:
- Henkel Adhesives Technologies India Private Limited (India)
- Sika AG (Switzerland)
- Arkema (France)
- Dow (U.S.)
- 3M (USA)
- H.B. Fuller Company (U.S.)
- Wacker Chemie AG (Germany)
- Weicon (Germany)
- THREEBOND INTERNATIONAL, INC. (Japan)
- Cemedine (Japan)
- New Polyurethane Technologies (Npt) (U.S.)
- CELO (Spain)
- Mapei (Italy)
- Beijing Comens New Materials (China)
- Hermann Otto GmbH (Germany)
- Kleiberit (Germany)
- Soudal (Belgium)
- Jowat (Germany)
- Recoll (France)
- Aderis (U.S.A)
- Shanghai Sepna Chemical Technology (China)
- Permabond (U.K.)
- Tremco Illbruck (Germany)
- Illinois Tool Works Inc. (U.S.)
- Dymax (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global elastic adhesive market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Elastic Adhesive Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
