According to the new market research report “Elastic Adhesives & Sealants Market by Resin Type (Polyurethane, Silicone, SMP), End-Use Industry (Construction, Industrial, Automotive & Transportation), Region (North America, Europe, APAC, South America, Middle East & Africa) – Global Forecast to 2024″, The market is projected to reach USD 22.3 billion by 2024 at a CAGR of 6.3% during the forecast period. The growth of end-use industries such as construction, industrial, and automotive & transportation as well as growing demand for silicone and SMP adhesives are the key factors driving the elastic adhesives & sealants market.
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The elastic adhesives & sealants market is projected to grow from USD 16.4 billion in 2019 to USD 22.3 billion by 2024, at a CAGR of 6.3%, between 2019 and 2024. Elastic adhesives & sealants provide improved aesthetics in various applications such as windows, consumer durables, and glazing by limiting the use of screws, nails, fillet bonders, and lightweight fittings. These are widely used in applications such as glazing, flooring, and assembling.
Based on resin, the polyurethane (PU) segment is estimated to account for the largest share during the forecast period. Polyurethanes are used mainly for bonding windscreens, side and rear windows of passenger cars, trucks, tractors and special vehicles, as they have better adhesion and paintability characteristics. Due to their high elongation properties and stronger bonding, PU adhesives are used in bonding windscreens and windows of passenger cars, trucks, tractors, and special vehicles. They are also used for bonding fiberglass-reinforced plastic elements such as roof, side, and frontal panels.
Browse and in-depth TOC on “Elastic Adhesives & Sealants Market – Global Forecast to 2024”
89 – Tables
40 – Figures
176 – Pages
The elastic adhesives & sealants market is projected to grow from USD 16.4 billion in 2019 to USD 22.3 billion by 2024, at a CAGR of 6.3% between 2019 and 2024. The growth of end-use industries such as construction, industrial, and automotive & transportation as well as the growing demand for silicone and SMP adhesives are key factors driving the elastic adhesives & sealants market.
The key market players are Henkel AG & CO. KGAA (Germany), Arkema S.A. (France), H.B. Fuller Company (US), DowDuPont Inc. (US), Sika AG (Switzerland), and 3M Company (US). These players have adopted various strategies, such as investment & expansion and merger & acquisition between 2015 and 2019, to enhance their market shares and expand their global presence.
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Henkel is engaged in consumer and industrial businesses. The company operates through various segments, including adhesive technologies; laundry & home care, and beauty care, and corporate. The company’s adhesive technologies segment is a leader in the adhesives market across all the end-use industries, globally. The company manufactures elastic adhesives & sealants under this segment. Henkel markets elastic adhesives & sealants under brand names, LOCTITE, and TEROSON. The company has a strong portfolio for this market, covering major resins such as PU and SMP. Henkel has operations in North America, Latin America, APAC, Europe, Middle East, and Africa. The company focuses on R&D to maintain its leading position in the adhesives business.
Arkema S.A. is a global player in specialty chemicals and advanced materials market. Arkema is among the top four adhesives & sealants producers in the world. It operates through three business segments, namely, High Performance Materials, Industrial Specialties, and Coating Solutions. Arkema has 137 production sites across 50 countries. The company operates three R&D centers (France, China, and the US) and 11 technical centers. It has over 400 researchers that work on new generation adhesives. Arkema markets its elastic adhesives & sealants offering under its brands such as 1100 Series, 2100 Series, 2200 Series, and 70- Series.
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