The global sales of elastomeric adhesives are slated to grow at a CAGR of around 4.7% to 6% during the forecast period from 2022 to 2032. Growth in the market is mainly driven by rising adoption of elastomeric adhesives across various end-use industries including building & construction, electronics, and automotive.
| Report Attribute | Details |
| Elastomeric Adhesives Market Projected Growth Rate (2022-2032) | 4.7% - 6% CAGR |
Elastomeric adhesives are unique adhesives used for applications like sealing, bonding, coating, etc. across diverse industries. These adhesives have the tendency to stretch and return back to their original size.
Although elastomeric adhesives have been in use for many years, recent technological advancements have ushered in a new light into the market. Thanks to these technological advancements demand for elastomeric adhesives market is touching new heights with improvements in performance parameters such as tensile strength, water resistance, elongation at break etc.
Elastomeric adhesives are being increasingly used for bonding different substrate types, including wood, metals, and plastics. Previously, primer materials were used on substrates before the applications of elastomeric adhesives for achieving superior performance. However, with the passage of time various types of elastomeric adhesives that provide primer-less adhesion were introduced by manufacturers.
Based on type, there are generally three types of elastomeric adhesives available in the market I.e., polyurethanes, silane modified polymers (SMP), and silicones. End users can choose any type of elastomeric adhesive depending on the type of substrate being bonded, design of the joint, and external conditions the bonded surface is expected to face. These adhesives offer effective adhesion and flexibility as well as provide superior chemical and solvent resistance to the bonded surfaces
Products like Polyurethane elastomeric adhesives have the ability to resist cracks arising out of movements of joint materials
Exponential growth of end-use industries such as automotive and construction, growing demand for superior adhesives for bonding and sealing applications, advancements in elastomeric adhesives, and rising consumer awareness about the benefits of elastomeric adhesives are some of the major factors contributing to the growth of elastomeric adhesives market.
In recent years, demand for elastomeric adhesives has witnessed a huge upsurge as they provide various advantages over other types of adhesives. These adhesives provide superior bonding property and offer excellent resistance to chemical hazards, shocks, extreme temperatures, and vibration. Besides this, they are more durable and moisture resistant, thereby helping to provide effective sealing functionality.
Elastomeric adhesives are available in various forms including solutions & dispersions, latex cements, and pressure-sensitive films & tapes. These products are widely used for bonding, sealing and coating applications across diverse industries due to high flexibility.
Growing popularity of elastomeric adhesives due to their ability to work properly even during extreme cryogenic conditions and high temperature environments will fuel their adoption during the forecast period. These adhesives can withstand high impact, vibration or movement of the bonded joint.
Demand for elastomeric adhesives is especially high across automotive, marine, electrical appliance and building & construction sectors. Rapid growth of these industries will eventually create growth prospects for elastomeric adhesives during the forthcoming period.
Despite numerous end uses of elastomeric adhesives, there are some factors that are likely to challenge market growth during the forecast period. One such factor is the availability of alternative adhesives at lower prices.
The Asia Pacific elastomeric adhesives market is anticipated to expand at a higher CAGR over the forecast period, owing to the booming automotive industry, rapid infrastructure development, favorable government support, and presence of a large number of regional and international market players.
Emerging nations like India and China are becoming ideal destinations for elastomeric adhesives due to rapid growth of automotive, electronics, and building & construction industries. These regions hold a large portion of world population, which is a major factor triggering the growth of these industries.
According to Future Market Insights, sales of elastomeric adhesives are slated to rise at a robust pace across North America, owing to the rapid expansion of automotive and construction industries, growing demand for high quality elastomeric adhesives, and presence of leading elastomeric adhesive manufacturers.
Demand for elastomeric adhesives is especially rising across countries like the United States and Canada due to increasing inclination of industries towards high quality adhesives, advancements in elastomeric adhesives, and rising investments by government for developing public infrastructure.
Presence of stringent regulations is prompting end users to use high quality products and elastomeric adhesives with lower emissions of volatile organic compounds (VOC).
Some of the key participants present in the global elastomeric adhesives market include 3M Company, Master Bond Inc., Henkel Corporation, Cemedine Co. Ltd, CRC Industries, Polymeric Systems Inc., Sika Group, Techniseal Inc., Avery Dennison, and The APOC Company among others.
These leading players are increasingly focusing on introducing novel products with better performance and lower prices to attract more and more customers. Besides this, they are partnering and collaborating with end users to increase their sales as well as to expand their presence.
| Report Attribute | Details |
| Growth Rate | CAGR of 4.7% - 6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
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FMI projects the global elastomeric adhesives market to expand at around 4.7% to 6% CAGR through 2032.
Asia Pacific is expected to offer lucrative growth opportunities to the manufacturers of elastomeric adhesives during the forecast period.
3M Company, Master Bond Inc., Henkel Corporation, Polymeric Systems Inc., and Sika Group, are some prominent elastomeric adhesives manufacturers
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