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

Elastomeric Adhesive Market was valued at US$ 18.85 Bn. in 2022. Global Elastomeric Adhesive Market size is expected to grow at a CAGR of 5.8 % through the forecast period.
Elastomeric Adhesive Market Overview:
Elastic adhesives are used to unite two materials that have been coated with them. Impact resistance, high discard strength, and flexibility are all features of these adhesives. The Elastomeric adhesive market is growing at a reasonable rate and is likely to growth more during the forecast period. This is due to its widespread use in a variety of end-user sectors, particularly construction and transportation. They are also commonly used for glazing, which has reduced the need for screws, nails, and other materials, resulting in market growth. These adhesives are also commonly used in construction operations such as flooring, tiling, tile grout, and subfloor preparation. Elastomeric adhesives are special adhesives that are used in a variety of sectors for purposes such as sealing, gluing, and coating. These adhesives tend to stretch before returning to their previous size.To know about the Research Methodology :- Request Free Sample Report
Elastomeric Adhesive Market Dynamics:
Demand for glazing and window panel applications is increasing. several trendy high-rise buildings use adhesives instead of screws to connect the glazing and window panels as a result adhesives provide higher connexion qualities, aesthetics, and bond life. These structures are a lot of enticing and supply glorious ultraviolet and weathering protection. the employment of elastomeric adhesive to bond window panes and window panels has numerous blessings, together with vibration wetting and reduced assembly time. high finish quality and fewer cold-conducting metal frames in panes and panels are required. The market for elastomeric adhesives is primarily driven by developed infrastructure designs, architectural setups, and the benefits of glass. Manufacturers still overlook additional benefits such as enhanced flexibility/elongation, impact/thermal cycling resistance, peel strength, and long-term durability, which can be acquired by employing elastomeric adhesives to retain lower end-product costs.

Market Drivers: The rising demand from end-users rising demand from developing countries, and increased adoption of these adhesives in the construction industry are the primary drivers driving the elastomeric adhesive market growth. The rapidly expanding building industry in developing nations like China and India, together with rising income levels, is boosting the market growth Furthermore, rising government spending on construction activities and infrastructural development in their respective countries is expected to boost the market demand for these adhesives. In addition, the increased demand for lightweight automobiles in the automotive industry is boosting product demand around the world.

Market Challenges: The lack of information among end-user about the profits offered by these adhesives is expected to hold back the growth of the elastomeric adhesive market during the forecast period, according to the primary issue identified in the market.

Elastomeric Adhesive Market COVID-19 Insight: The onset of the COVID-19 pandemic had a significant impact on the Elastomeric adhesives market. During the COVID-19 epidemic, demand for elastomeric adhesives fell as businesses such as construction, automotive, transportation, and others were shut down. The COVID-19 epidemic prompted a lockdown, resulting in lower production of elastomeric adhesives and disruption to the global supply chain. The COVID-19 epidemic reduced sales in the elastic adhesives sector.
Segment Analysis:
Based on Type, The market is divided into PU, silicone, and Silane-modified polymers (SMP). During the forecast period, polyurethane is expected to have the largest market share. The market based on PU has great toughness, abrasion resistance, flexibility, and strength, as well as a low cure temperature, outstanding low-temperature resistance, strong environmental resistance, and adherence to a wide range of substrates.

Based on the Application, the market is divided into Building & construction, industrial, and automotive, Electrical and Electronic equipment, and transportation segments based on application type. During the forecast period, the automotive category is expected to be the fastest-growing section of the market. Elastomeric adhesives are employed where moderate adhesion, but significant elongation are required. The use of elastic adhesives with multi-functional qualities reduces the number of different processing, allowing vehicle manufacturers to operate more efficiently. They are to employ in a variety of automotive applications, including the front windshield, side glass, and car body. Moreover, the consumer saves money on fuel by using lightweight and elastic bonded materials. These factors are expected to boost demand for elastomeric adhesive in the automotive market.
Elastomeric Adhesive Market Regional Insights:
The Asia Pacific region dominated the market with a 60 % share in 2022. The Asia Pacific region is expected to witness significant growth at a CAGR of 5.6% through the forecast period. Asia-Pacific elastomeric Adhesive market is expected to develop at the highest rate during the forecast period, with China, Japan, India, and Indonesia being the prominent countries with promising growth prospects. The Asia-Pacific region's potential market is driven by increased growth from various packaging sectors and increasing economic conditions. New product advancements, new research and development projects, and increased demand from various end-use industries have all contributed to the Asia-Pacific region's growing demand for elastic adhesives and sealants. During the Forecast period, North America and Europe are expected to offer significant growth prospects.

The objective of the report is to present a comprehensive analysis of the 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 have 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 market dynamic, and structure by analyzing the market segments and projecting the Elastomeric Adhesive Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.
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Elastomeric Adhesive Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 18.85 Bn.


Forecast Period 2023 to 2029 CAGR:
5.8%
Market Size in 2029:
US $ 27.97 Bn.


 Segments Covered:
by Type
Silane Modified Polymers
Polyurethanes
Silicones


by Application
Automotive
Transportation
Building and Construction
Electrical and Electronic Equipment



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)
Elastomeric Adhesive Market Key Players
1. Henkel AG& CO.KGaA
2. Sika AG
3. 3M
4. Bostik(Arkema)
5. H.B. Fuller Company
6. Weicon
7. Threebond
8. Cemedine
9. DOW Chemical
10. Wacker Chemie
11. Mapei
12. Grupo Celo
13. Beijing Comens New Material
14. Recoll
15. Aderis
16. Shanghai

Frequently Asked Questions:

1] What segments are covered in the Global Elastomeric Adhesive Market report?
Ans. The segments covered in the Elastomeric Adhesive Market report are based on Product Type and End User.

2] Which region is expected to hold the highest share in the Global Elastomeric Adhesive Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Elastomeric Adhesive Market.

3] What is the market size of the Global Elastomeric Adhesive Market by 2029?
Ans. The market size of the Elastic Adhesive Market by 2029 is expected to reach US$ 27.97 Bn.

4] What is the forecast period for the Global Elastomeric Adhesive Market?
Ans. The forecast period for the Elastomeric Adhesive Market is 2023-2029.

5] What was the market size of the Global Elastomeric Adhesive Market in 2022?
Ans. The market size of the Elastomeric Adhesive Market in 2022 was valued at US$ 18.85 Bn.