Elastic Adhesive Market to Grow with a CAGR of 6.25% through 2028
Surge in research and development activities is expected to drive the Global
Elastic Adhesive Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Elastic
Adhesive Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Elastic Adhesive Market stood
at USD18.09 billion in 2022 and is anticipated to grow with a CAGR of 6.25% in
the forecast period, 2023-2028. The initiatives taken by government based on Elastic
Adhesive has led to favorable market conditions for the Global Elastic Adhesive
Market. Several factors contribute to the growth of various Elastic Adhesive products.
The Indian
government's ambitious initiative to develop smart cities, with a focus on
creating sustainable and technologically advanced urban areas, is significantly
driving the demand for elastic adhesives and sealants. These versatile and
high-performance materials play a crucial role in various construction
applications, ranging from bonding different materials with exceptional
strength to effectively sealing joints and gaps, ensuring the durability and
longevity of smart city infrastructure.
In addition to
the smart city drive, government initiatives like "Make in India" are
actively promoting the production and adoption of electric vehicles in the
country. As electric vehicles gain momentum, the demand for elastic adhesives
in this sector is also witnessing a remarkable surge. Specifically,
polyurethane adhesives, known for their exceptional flexibility and strong
bonding properties, are extensively used in various aspects of electric vehicle
assembly, including battery pack sealing, interior component bonding, and
structural reinforcement.The combined impact of these government-driven
initiatives on the elastic adhesive market showcases the growing importance of
these materials in shaping the future of construction and electric mobility in
India.
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Elastic Adhesive Market.”
The growth in
the elastic adhesive market can be attributed to multiple factors, including
increased investment in research and development (R&D) by manufacturers.
These dedicated investments have led to significant advancements in adhesive
technology, resulting in the development of new products and the improvement of
existing ones. These innovative adhesive solutions not only offer better
performance but also provide enhanced value to customers, meeting their
evolving needs and requirements.In addition to manufacturer-driven R&D
efforts, government initiatives aimed at promoting research and development in
the industrial sector have played a crucial role in the market's growth. These
initiatives go beyond financial incentives and provide comprehensive support to
companies engaged in research activities. By fostering a collaborative
environment and encouraging knowledge exchange, these initiatives have
accelerated the pace of innovation in the elastic adhesive market.
As a result of
these combined efforts, the elastic adhesive market has witnessed significant expansion,
catering to diverse industries and applications. The continuous investment in
R&D and the support from government initiatives have created a favorable
environment for the development and adoption of advanced adhesive solutions,
driving the market's growth trajectory.
The Global
Elastic Adhesive Market is segmented into resin type, end user, regional
distribution, and company.
Based on its end user, the construction segment held
the largest share in the market. One of the primary advantages of Elastic
Adhesive over mechanical fastening is its exceptional speed and economy of use.
Unlike traditional methods that require drilling, Elastic Adhesive provides a
hassle-free solution that prevents any potential damage or weakening of the substrate.
Its remarkable durability ensures long-lasting performance, making it an ideal
choice for various applications in the building and construction industry.In
the realm of building and construction, Elastic Adhesives find extensive use in
a multitude of tasks, such as tiling, subfloor preparation, and flooring.
Whether it's ensuring a secure and lasting bond between tiles, preparing a
stable foundation for flooring installation, or providing reliable adhesion in
various construction projects, Elastic Adhesives offer a versatile and reliable
solution that meets the demands of professionals and DIY enthusiasts alike.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
This can be attributed to the increasing government
investments, particularly in the building and construction sector within the
region. These investments have fueled economic growth and development, creating
new opportunities for businesses and job seekers. Additionally, rising income
levels, especially among middle-class residents, have contributed to the
overall prosperity of the region. As a result, the economy has experienced
significant expansion, leading to improved standards of living and a vibrant
business environment.
Major companies operating in Global
Elastic Adhesive Market are:
- Henkel AG & CO.
- Sika AG
- 3M Company
- H.B. Fuller Company
- Bostik (Arkema) SA
- DuPont de Nemours Inc
- Weicon GmbH & Co. KG
- Three Bond Co. Ltd.
- Beijing Comens New Materials Co Ltd
- Wacker Chemie AG
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“Growing application of Elastic Adhesive in various
end user industries are key drivers of the Elastic Adhesive market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of Elastic Adhesive with every
passing year are anticipated to register an impressive growth to Global Elastic
Adhesive Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Elastic Adhesive Market By Resin
Type (Polyurethane, Silicone, Silane Modified Polymers (SMP), Others), By End
User (Construction, Industrial, Automotive, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Elastic Adhesive Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Elastic Adhesive Market.
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