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Elastic Bonding Adhesive and Sealant Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 140 Pages
  • January 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5025747

The market for elastic bonding adhesive sealant is expected to register a CAGR of greater than 5% globally during the forecast period. Elastic adhesives are based on special denatured polymer and have strong rubber-like elasticity with adhesion properties.

Key Highlights

  • The increasing applications of elastic bonding adhesives in the automotive and transportation industry are contributing to the growth and driving the demand. Moreover, the growing demand for high-rise buildings is also expected to drive the market.
  • On the flip side, the stringent regulations for the production of these adhesives are expected to hinder the market growth. Moreover, the unfavorable conditions arising due to the COVID-19 outbreak is also expected to hamper the market growth.
  • Asia-Pacific is the largest market for these adhesives due to the established industrial production and growth in the construction industry.

Key Market Trends

Automotive and Transportation to Dominate the Market

  • Elastic adhesives and sealants have a range of characteristics and physical properties, such as good cohesion, adhesion, elasticity, high cohesive strength, flexibility, and improved peel strength.
  • It provides environmental resistance from corrosion, UV light, saltwater, rain, and other weathering conditions, and maintains adhesive chemistry and physical bond. Therefore, it has a wide range of applications.
  • The market is quite extensive and includes many applications in the transportation industry, such as aircraft and aerospace, railways, vehicle assembly, marine, windshields, automotive module sealing, etc.
  • The global automotive manufacturing sector is growing at a consistent rate, with Asia-Pacific and Europe witnessing steady growth in the total number of motor vehicles produced.
  • However, the trend changed in 2019 with the aforementioned regions witnessing a decline in automotive production. Factors, such as low costs of skilled labor, abundant availability of raw materials, and regular advances in the manufacturing technologies, are encouraging many automotive OEMs to emphasize on expanding their production facilities in the regions.
  • Major car manufacturers, such as Chevrolet, Daimler, Jeep, Audi, Volvo, and Kia, have either set up their automotive manufacturing facilities or are planning to start new facilities in the Asia-Pacific region. This is expected to increase the demand for elastic bonding adhesives and sealants during the forecast period.

The Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is expected to be the dominating region in the elastic adhesives market, with the steady growth in the new construction projects and established industrial and automotive industry.
  • Countries, like China, India, Indonesia, Thailand, and Vietnam, are the key countries attracting the demand for these adhesives.
  • China remains the industrial base in the region with recognized automotive manufacturing. The country produces approximately 50% of the automotive of the total production in the region. Other major automotive producing nations include Japan, India, South Korea, and Thailand.
  • Japan and South Korea also possess a well-positioned shipbuilding industry in the region, which is also likely to add up to the demand for these adhesives.
  • China and India are witnessing investment in the construction sector, as the demand for commercial and residential building is on the rise. The investment slowed down due to the sudden outbreak of COVID-19. However, it is expected to gain pace by 2021 again.
  • These factors are expected to majorly contribute to the demand for elastic bonding adhesives and sealants during the forecast period.

Competitive Landscape

The global elastic bonding adhesive sealant market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Henkel AG & Co. KGaA, Arkema SA, H.B. Fuller Company, Sika AG, and 3M.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Applications in the Automotive and Transportation Industry
4.1.2 Growing Demand for High-rise Buildings
4.2 Restraints
4.2.1 Unfavorable Conditions Arising Due to the COVID-19 Outbreak
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5.1 Product
5.1.1 Silyl and Silane Modified Polymers
5.1.2 Polyutrethane
5.1.3 Silicone
5.1.4 Other Products
5.2 End-user Industry
5.2.1 Automotive and Transportation
5.2.2 Building and Construction
5.2.3 Industrial
5.2.4 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom France Italy Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Arkema SA
6.4.3 Cemedine
6.4.4 Dow
6.4.5 H.B. Fuller Company
6.4.6 Henkel AG & CO. KGAA
6.4.7 Sika AG
6.4.8 ThreeBond Holdings Co. Ltd
6.4.9 Mapei SpA
6.4.10 Weicon GmbH & Co. KG
6.4.11 Jowat SE
7.1 Adhesive Bonding Leading to Revolutionary Advances for Safety and Ease of Application
7.2 Other Opportunities

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 3M
  • Arkema SA
  • Cemedine
  • Dow
  • H.B. Fuller Company
  • Henkel AG & CO. KGAA
  • Sika AG
  • ThreeBond Holdings Co. Ltd
  • Mapei SpA
  • Weicon GmbH & Co. KG
  • Jowat SE