18-Sep-2020 | Zion Market Research
As per the analysts at Zion Market Research, the global elastic adhesive market is anticipated to attain a value of around USD 23.46 billion by 2026, from about USD 16.80 billion in 2019, registering around 6.7% CAGR during the forecast period. Few of the prominent players in the global elastic adhesive market are 3M, H.B. Fuller Company, DowDuPont Inc., Henkel AG & CO. KGAA, Threebond Holdings Co., Ltd., Weicon GmbH & Co. KG, Arkema (Bostik), Sika AG, Cemedine Co., Ltd., and Beijing Comens New Materials Co., Ltd. This market is extremely fragmented and the key contenders have utilized several approaches like expansions, new product launches, joint ventures, agreements, acquisitions, partnerships, and others to strengthen their presence within the market. To cite, a deal was inked by Henkel AG & CO. KGAA in May 2017 to purchase Sonderhoff Holding GmbH, which provides high-impact sealing products for industrial assembly. The firm, with this acquirement, will underpin its status within the adhesive technologies business.
Rising Demand From End-Use Industries Projected To Drive Global Market Growth
The growth of the global elastic adhesive market is projected to be mainly driven during the forecast period by the rising product demand from the end-use industries such as transport, construction, & so on together with the increasing requirement for low-carbon-emitting automobiles. Furthermore, the growing need from the panel & glazing applications, increasing need from developing countries, and innovations in adhesive bonding resulting in ease of application are few other factors anticipated to boost the growth of the global market in the years to come. Nevertheless, the dearth of alertness among end-users with regards to the advantages of the elastic adhesives is predicted to hamper the expansion of the elastic adhesive market to some extent.
By End-Use Industry, Automotive & Transportation Segment To Witness Highest Growth Rate
Elastic adhesives are utilized in places needing temperate bonding but high elongation. For makers of the automobile, using elastic adhesives with their multi-functional traits decreases the number of discrete processing steps and allows a more efficient production process. Also, they find several applications in vehicles, like side glass, car body, and front glass windshield. In addition, the purchaser also profits from fuel savings by using elastic-bonded and lightweight materials. Thus, all these factors are projected to fuel the need for elastic adhesives in automotive & transportation further boosting the market growth.
Asia Pacific Region Projected To Dominate The Global Market During The Forecast Period
Regionally, the Asia Pacific region is expected to govern the global elastic adhesives market during the forecast period. The considerable regional growth can be attributed to factors such as the rising requirement from the packaging industries and the enhancing economic conditions. Furthermore, new R&D projects, product innovations, and rising need from numerous end-use industries are also anticipated to augment the elastic adhesive market growth in the Asia Pacific.
Browse the full “Global Elastic Adhesives Market - By End-Use Industry (Industrial, Construction, And Automotive & Transportation), By Resin Type (Silicone, Polyurethane, And SMP), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/elastic-adhesive-market
The global elastic adhesive market is segmented as follows:
By End-Use Industries
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