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 the 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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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 offers a versatile and reliable solution that meets the demands of professionals and DIY enthusiasts alike.
Based on region, the 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 the 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 the competitive landscape and the presence of well-established companies in the market who are dedicated to enhancing their productivity of Elastic Adhesive with every passing year is 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 the Global Elastic Adhesive Market.
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Table of Content-Elastic Adhesive Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Global Elastic Adhesive Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Resin Type (Polyurethane, Silicone, Silane Modified Polymers (SMP), Others)
4.2.2. By End User (Construction, Industrial, Automotive, Others)
4.2.3. By Region
4.2.4. By Company (2022)
4.3. Market Map
4.3.1. By Resin Type
4.3.2. By End User
4.3.3. By Region
- Asia Pacific Elastic Adhesive Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Resin Type
5.2.2. By End User
5.2.3. By Country
5.3. Asia Pacific: Country Analysis
5.3.1. China Elastic Adhesive Market Outlook
5.3.1.1. Market Size & Forecast
5.3.1.1.1. By Value
5.3.1.2. Market Share & Forecast
5.3.1.2.1. By Resin Type
5.3.1.2.2. By End User
5.3.2. India Elastic Adhesive Market Outlook
5.3.2.1. Market Size & Forecast
5.3.2.1.1. By Value
5.3.2.2. Market Share & Forecast
5.3.2.2.1. By Resin Type
5.3.2.2.2. By End User
5.3.3. Australia Elastic Adhesive Market Outlook
5.3.3.1. Market Size & Forecast
5.3.3.1.1. By Value
5.3.3.2. Market Share & Forecast
5.3.3.2.1. By Resin Type
5.3.3.2.2. By End User
5.3.4. Japan Elastic Adhesive Market Outlook
5.3.4.1. Market Size & Forecast
5.3.4.1.1. By Value
5.3.4.2. Market Share & Forecast
5.3.4.2.1. By Resin Type
5.3.4.2.2. By End User
5.3.5. South Korea Elastic Adhesive Market Outlook
5.3.5.1. Market Size & Forecast
5.3.5.1.1. By Value
5.3.5.2. Market Share & Forecast
5.3.5.2.1. By Resin Type
5.3.5.2.2. By End User
- Europe Elastic Adhesive Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Resin Type
6.2.2. By End User
6.2.3. By Country
6.3. Europe: Country Analysis
6.3.1. France Elastic Adhesive Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Resin Type
6.3.1.2.2. By End User
6.3.2. Germany Elastic Adhesive Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Resin Type
6.3.2.2.2. By End User
6.3.3. Spain Elastic Adhesive Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Resin Type
6.3.3.2.2. By End User
6.3.4. Italy Elastic Adhesive Market Outlook
6.3.4.1. Market Size & Forecast
6.3.4.1.1. By Value
6.3.4.2. Market Share & Forecast
6.3.4.2.1. By Resin Type
6.3.4.2.2. By End User
6.3.5. United Kingdom Elastic Adhesive Market Outlook
6.3.5.1. Market Size & Forecast
6.3.5.1.1. By Value
6.3.5.2. Market Share & Forecast
6.3.5.2.1. By Resin Type
6.3.5.2.2. By End User
- North America Elastic Adhesive Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Resin Type
7.2.2. By End User
7.2.3. By Country