Elastic Adhesive Market by Resin Type (Polyurethane, Silicone, SMP), End-Use Industry (Construction, Industrial, Automotive & Transportation), Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2022
“The elastic adhesive market is projected to grow at a CAGR of 6.68%, in terms of value from 2017 to 2022.”
The elastic adhesive market is projected to grow from USD 14.53 billion in 2017 to USD 20.07 billion by 2022, at a CAGR of 6.68% between 2017 and 2022. The scope of the report includes elastic bonding adhesives and sealants. The growing use of superior adhesives and sealants in vehicles and in glazing and flooring applications is expected to fuel the growth of the elastic adhesive market across the globe. However, the lack of awareness among end users about the benefits offered by elastic adhesives is expected to restrain the growth of the elastic adhesive market during the forecast period.
“The automotive & transportation segment of the elastic adhesive market is projected to grow at the highest CAGR during the forecast period.”
The automotive & transportation segment of the elastic adhesive market is projected to grow at the highest CAGR between 2017 and 2022. The high growth of this segment of the market can be attributed to the increased use of elastic adhesives in different applications such as direct glazing. The use of elastic adhesives not only improves aesthetics of automobiles but also reduces their weight, thereby enhancing their fuel efficiency and limiting their carbon emissions. Earlier, adhesives were used for windshield bonding. Presently, they are also used for laminating, bonding, tail lighting, and assembling automotive interior components. Adhesives are also used in headliners and interior trims, among others. Currently, adhesives are developed to ensure compliance with the stringent environmental regulations formulated to keep carbon emissions to a minimum level.
“The rising demand for elastic adhesives from the Asia Pacific region is a key factor expected to drive the growth of the elastic adhesive market in the region during the forecast period.”
The Asia Pacific elastic adhesive market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific elastic adhesive market is driven by a number of factors such as the rising population of the region, which leads to increased demand for residential and commercial buildings, and improving economy of the region that results in improved infrastructure, which, in turn, leads to the growth of the construction and industrial sectors. The Asia Pacific region is a leading consumer of elastic adhesives across the globe due to the growing use of elastic adhesives in residential, commercial, and infrastructural applications. The elastic adhesive market in countries such as China, India, Thailand, and Indonesia, among others is witnessing strong growth due to the increasing population and flourishing public and residential infrastructures. Thus, the rising demand for elastic adhesives from the emerging economies is projected to drive the growth of the Asia Pacific elastic adhesive market during the forecast period.
In the process of determining and verifying the size of several segments and subsegments of the elastic adhesive market gathered through secondary research, extensive primary interviews have been conducted. The break-up of the primary interviews has been given below:
• By Company: Tier 1 – 41%, Tier 2 – 33%, and Others – 26%
• By Designation: C Level – 35%, Director Level – 36%, and Others – 29%
• By Region: Asia Pacific – 29%, Europe – 27%, North America – 26%, South America – 10%, and the Middle East & Africa – 8%
Note: Others include sales managers, marketing managers, and product managers.
The tiers of companies are defined based on their total revenues in 2016: Tier 1: revenue =>USD 1 billion, Tier 2: revenue between USD 100 million and USD 1 billion, and Tier 3: revenue =<USD 100 million.
The key companies profiled in this research report on the elastic adhesive market include Henkel (Germany), 3M (US), Arkema (France), Weicon (Germany), Wacker Chemie (Germany), and Sika (Switzerland), among others.
The report covers the market for elastic adhesives and its applications across different industry verticals and regions. It aims at estimating the size of the elastic adhesive market and its potential across different resin types, end-use industries and applications, and regions. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments undertaken by them, and key growth strategies adopted by them to sustain their position in the elastic adhesive market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants by providing them the closest approximations of revenues in the elastic adhesive market. This report is also expected to help the stakeholders obtain an improved understanding of the competitive landscape of the market and gain insights to position their businesses and formulate market strategies. The report is also expected to help stakeholders understand the pulse of the market, and acquire information on key drivers, restraints, challenges, and opportunities influencing the growth of the elastic adhesive market.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on elastic adhesives offered by the top market players
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the elastic adhesive market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for elastic adhesives across varied regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the elastic adhesive market
Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the elastic adhesive market
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