Elastomeric Adhesives Market – Overview
Elastomeric Adhesives Market was valued at USD 6,030 million in 2022 and is estimated to reach a value of USD 10,250 million by 2033 with a CAGR of 5.2%. Elastomeric adhesives are air-drying contact adhesives built to be utilized to join seams and butt joints.
Elastomeric adhesives & finishes emit high strength bonds, excellent flexibility, weather resistance, and durability, and prove to be vital in applications which demand resistance to vibration, shock, and impact. Impact resistance, high discard strength, and flexibility are the specifications that the products of elastomeric adhesives possess.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 6,030 Million |
Market Forecast in 2033 | USD 10,250 Million |
CAGR % 2023-2033 | 5.2% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Type and application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | 3M, Sika Group, CRC Industries, Master Bond, Avery Dennison, Cemedine, Polymeric Systemsand Techniseal |
Owing to its widespread use in a variety of end-user sectors, particularly construction and transportation the market is established to witness growth at a healthy rate during the forecast period. The factor even played a prime role during the previous forecast period of 2018 to 2021.
Construction operations such as flooring, tiling, tile grout, and subfloor preparation make use of these adhesives and thus the increasing construction activities across the globe are boosting the growth of the market during the forecast period. Apart from this a variety of sectors for purposes such as sealing, glueing, and coating and thus even the applications in these areas are boosting the growth of the market during the forecast period.
Elastomeric Adhesives Market – Key Trends
Increasing Construction Activities To Boost Market
Increasing government spending on construction factors and infrastructural upgradation in their respective countries is estimated to foster the market demand for the product. Also, the rising demand for lightweight automobiles in the automotive sector is driving product demand around the world.
Wide Range Of Usage Of These Adhesives To Foster The Market Growth
Construction operations such as flooring, tiling, tile grout, and subfloor preparation make use of these adhesives and thus the increasing construction activities across the globe are boosting the growth of the market during the forecast period. Apart from this a variety of sectors for purposes such as sealing, glueing, and coating and thus even the applications in these areas are boosting the growth of the market during the forecast period.
Elastomeric Adhesives Market – Geographical Landscape
It is estimated for the Asia Pacific region to witness immense growth in the market. The region is expected to grow at a healthy CAGR of during the forecast period. The market in Europe is projected to grow at a stable CAGR during the forecast period. The rising population in the region of Asia Pacific leading to increasing constriction activities is driving the growth of the market during the forecast period.
The demand for elastomeric adhesives in Latin America is expected to grow at a significant rate in the coming years. The growth is attributed to the increasing demand for high-performance and eco-friendly adhesives in various end-use industries, such as construction, automotive, and packaging.
The construction industry is the largest consumer of elastomeric adhesives in Latin America, driven by the region's growing infrastructure development and renovation activities. The use of elastomeric adhesives in the construction industry offers several benefits, such as improved bonding strength, durability, and resistance to extreme temperatures and harsh chemicals.
Moreover, the increasing demand for lightweight and fuel-efficient vehicles in the automotive industry is driving the use of elastomeric adhesives in the region. Elastomeric adhesives are used for bonding various components in automobiles, such as body panels, trims, and insulation materials, offering improved safety and performance.
The packaging industry is also expected to drive the demand for elastomeric adhesives in Latin America, driven by the increasing demand for eco-friendly and sustainable packaging solutions.
Overall, the growing demand for high-performance and sustainable adhesives in various end-use industries is expected to drive the growth of the elastomeric adhesives market in Latin America in the coming years.
Elastomeric Adhesives Market – Competitive Hierarchy
3M, Sika Group, CRC Industries, Master Bond, Avery Dennison, Cemedine, Polymeric Systemsand Techniseal are the players that are driving the growth of the market during the forecast period.
Elastomeric Adhesives Market- Segmental Assessment
By Type
• Silane Modified Polymers
• Polyurethanes
• Silicones
By Application
• Automotive
• Transportation
• Building and Construction
• Electrical and Electronic Equipment
• Others
Regions
North America
· U.S.
· Canada
· Mexico
Europe
· Germany
· U.K.
· France
· Italy
· Spain
· Russia
· Rest of Europe
Asia Pacific
· China
· Japan
· India
· Australia
· Korea
· Rest of Asia pacific
South America
· Brazil
· Argentina
· Colombia
· Rest of South America
Middle East & Africa
· UAE
· Saudi Arabia
· Egypt
· Oman
· Kuwait
· South Africa
· Rest of MEA
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Market Research Process
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
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Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
The global elastomeric adhesives market was valued at USD 6,030 million in 2022 and is estimated to reach a value of USD 10,250 million by 2033 with a CAGR of 5.2%
Increasing government spending on construction factors and infrastructural upgradation in their respective countries is estimated to foster the market demand for the product.
Some of the major players operating within the market are 3M, Sika Group, CRC Industries, Master Bond, Avery Dennison, Cemedine, Polymeric Systemsand Techniseal
It is estimated for the Asia Pacific region to witness immense growth in the market. The region is expected to grow at a healthy CAGR of during the forecast period.
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