Elastic Adhesive Market- Global Industry Analysis and Forecast (2023-2029)

Elastic Adhesive Market size was valued at US$ 19.74 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 6.6% from 2023 to 2029, reaching nearly US$ 30.89 Bn.
Elastic Adhesive Market Overview:
Elastic Adhesive Market is expected to reach US$ 30.89 Bn. by 2029. After curing, elastic adhesives generate a robust, flexible rubber-like elastic body. It can be utilised in a wide range of fields since it is a highly functional universal adhesive that is resilient to vibration and impact and has great stress relaxation. This report focuses on the different segments of the Elastic Adhesive market (Resin, End-Use Industries, and Region). The major industry players and regions are thoroughly examined in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a thorough examination of today's quick advancements in a variety of industries. The major data analysis for the historical era from 2017 to 2020 is presented using facts and numbers, visualisations, and presentations. The market drivers, restraints, opportunities, and challenges for Elastic Adhesive are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Elastic Adhesive market.To know about the Research Methodology :- Request Free Sample Report
Elastic Adhesive Market Dynamics:
Demand from the glazing and window panel industries is increasing. Many modern high-rise buildings use adhesives rather than screws to attach the glazing and window panels because adhesives offer better joining qualities, aesthetics, and bond life. These structures are more aesthetically pleasing and have excellent UV and weathering resistance. The use of elastic adhesives and sealants to bond window panes and window panels has various advantages, including vibration dampening, reduced assembly time, improved finish quality, and a reduced need for cold-conducting metal frames in panes and panels. The market for elastic adhesives is driven largely by developed infrastructure designs, architectural setups, and the benefits of glass.

End consumers are still hesitant to utilise elastic sealants. This poor acceptance rate could be owing to a lack of knowledge regarding the availability of elastic adhesives and sealants, or it could be due to the end user's preference for traditional sealants. End users are content with the results obtained with traditional adhesives and sealants, despite the fact that these adhesives lack the benefits of elastic sealants but serve the function of attaching surfaces together. Manufacturers still overlook additional benefits such as greater flexibility/elongation, impact/thermal cycling resistance, peel strength, and long-term durability, which can be acquired by employing elastic adhesives & sealants, in order to retain lower end-product costs.
Elastic Adhesive Market Segment Analysis:
The Elastic Adhesive Market is segmented by Resin, and End-Use Industries.

Based on the Resin, the market is segmented into Polyurethane, Silicone, SMP, and Others. Polyurethane resin segment is expected to hold the largest market share of xx% by 2029. Because of their superior adhesion and paintability, polyurethanes are commonly used to bind windscreens, side and rear windows of passenger cars, lorries, tractors, and special vehicles. PU adhesives are used to bond the windscreens and windows of passenger cars, lorries, tractors, and special vehicles due to their high elongation qualities and stronger bonding. They're also employed to adhere fiberglass-reinforced plastic pieces like roof, side, and frontal panels together.

Based on the End-Use Industries, the market is segmented into Construction, Industrial, and Automotive & transportation. Automotive & transportation End-Use Industries segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Elastic adhesives and sealants offer a variety of features and characteristics, including good cohesion, adhesion, elasticity, high cohesive strength, flexibility, and improved peel strength. It protects the adhesive chemistry and physical bond from corrosion, UV light, seawater, rain, and other weathering conditions in the environment. As a result, it has a wide range of uses. Various applications in the transportation industry, such as aircraft and aerospace, railways, vehicle assembly, marine, windshields, automotive module sealing, and so on, make up the market. The global automobile manufacturing sector is booming at a steady pace, with Asia-Pacific and Europe seeing constant increases in overall car production.

However, in 2021, the trend reversed, with vehicle manufacturing falling in the aforementioned locations. Many automotive OEMs are focusing on developing their manufacturing facilities in the regions due to factors such as low skilled labour prices, ample raw material availability, and regular developments in manufacturing technologies. Car companies such as Chevrolet, Daimler, Jeep, Audi, Volvo, and Kia have either established or plan to establish vehicle manufacturing plants in the Asia-Pacific region. During the forecast period, this is expected to boost demand for elastic bonding adhesives.
Elastic Adhesive Market Regional Insights:
Asia-Pacific region is expected to dominate the Elastic Adhesive Market during the forecast period 2022-2029. Asia-Pacific region is expected to hold the largest market share of xx% by 2029. With steady growth in new building projects and established industrial and automotive industries, Asia-Pacific is expected to be the leading region in the elastic adhesives market. China, India, Indonesia, Thailand, and Vietnam are among the leading countries driving demand for these adhesives.

China continues to be the region's economic powerhouse, with well-known car manufacturing. Approximately half of the entire automobile manufacturing in the region is produced in the country. Japan, India, South Korea, and Thailand are also big automobile producers. In addition, Japan and South Korea have a strong shipbuilding industry in the region, which is expected to boost demand for these adhesives.

As the demand for commercial and residential construction rises, China and India are seeing increased investment in the construction sector. Due to the unexpected emergence of COVID-19, investment stopped. However, by 2023, it is expected to pick up again. During the forecast period, these factors are expected to have a significant impact on the demand for elastic bonding adhesives and sealants.The objective of the report is to present a comprehensive analysis of the Global Elastic Adhesive Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Elastic Adhesive Market dynamic and structure by analyzing the market segments and projecting the Global Elastic Adhesive Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Elastic Adhesive Market make the report investor’s guide.
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Elastic Adhesive Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 19.74 Bn.


Forecast Period 2023 to 2029 CAGR:
6.6%
Market Size in 2029:
US $ 30.89 Bn.


 Segments Covered:
by Resin
• Polyurethane
• Silicone
• SMP
• Others


by Application
• Building Maintenance
• Floor Covering
• Automobiles


by End-Use Industries
• Construction
• Industrial
• Automotive & transportation



Elastic Adhesive Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Elastic Adhesive Market Key Players are:
• Henkel (Germany)
• Arkema (France)
• 3M (US)
• Weicon (Germany)
• Sika (Switzerland)
• Wacker Chemie (Germany)
• DOW Chemical (US)
• Threebond (US)
• H.B. Fuller (US)
• Cemedine (Japan)
• Mapei (Italy)
• Grupo Celo (Spain)
• Beijing Comens New Materials (China)
• Hermann Otto (Germany)
• Kleiberit (Germany)

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Elastic Adhesive Market?
Ans. Asia Pacific region is expected to hold the highest share in the Elastic Adhesive Market.

2] Who are the top key players in the Elastic Adhesive Market?
Ans. Henkel (Germany), Arkema (France), 3M (US), Weicon (Germany), and Sika (Switzerland) are the top key players in the Elastic Adhesive Market.

3] Which segment is expected to hold the largest market share in the Elastic Adhesive Market by 2029?
Ans. Polyurethane resin segment is expected to hold the largest market share in the Elastic Adhesive Market by 2029.

4] What is the market size of the Elastic Adhesive Market by 2029?
Ans. The market size of the Elastic Adhesive Market is expected to reach US $30.89 Bn. by 2029.

5] What was the market size of the Elastic Adhesive Market in 2022?
Ans. The market size of the Elastic Adhesive Market was worth US $ 19.74 Bn. in 2022.