Elastic adhesives and sealants are used to attach and seal incompatible substrates that must resist vibration, including railroads, buses and washing machines. The superior qualities of elastic adhesives and sealants make them excellent for application in a variety of industries including transportation, building and construction and labelling and packaging. They have strong rubber-like elasticity and adhesive qualities such low contraction distortion after curing. In addition, they have suppleness, a high peel strength, impact resistance and flexibility. The product is commonly utilized in building operations such as subfloor preparation, flooring, tiling and tile grouting. By limiting the usage of nails, lightweight fittings, screws and fillet bonders, elastic adhesives and sealants improve aesthetics in a variety of applications such as consumer durables, glass and windows. These are commonly utilized in flooring, glass and assembling applications.
COVID-19 Impact analysis
- The elastic adhesives and sealants market was negatively affected due to the outbreak of COVID-19 pandemic.
- The demand for elastic adhesives and sealants decreased as the industries such as industrial, construction, automotive, transportation and others were shut down during the COVID-19 pandemic.
- The COVID-19 pandemic has caused the imposition of lockdown due to which the production of elastic adhesives and sealants decreased and the global supply chain was affected.
- The elastic adhesives and sealants market faced downfall of revenue due to the COVID-19 pandemic.
Top Impacting Factors
Demand for glazing and window panel applications is increasing. Many modern high-rise buildings glazing and window panels are joined with adhesives rather than screws, as they give better joining aesthetics, qualities and longer bond life. These structures have better aesthetics and provide excellent UV and weathering protection. Bonding window panes and window panels with elastic adhesives and sealants provides various benefits, including reduced assembly time, lower necessity for cold-conducting metal frames in panes and panels, vibration dampening and high finish quality. The expanding automotive sector, together with the increasing demand for lightweight automobiles, is boosting product demand globally. Furthermore, increasing environmental laws as a result of increased carbon emissions are expected to drive market expansion. Another reason projected to drive the elastic adhesives is rising demand for aeroplanes due to increased air traffic and tourism in emerging markets. Unfortunately, the rate of acceptance of elastic sealants by end users remains low. This poor acceptance rate could be attributed to a lack of knowledge regarding the availability of elastic adhesives and sealants, or to the end user's preference for traditional sealants. This can restrain the growth of the elastic adhesives and sealants market.
- With a booming construction industry and increased government expenditure in infrastructure activities, Asia Pacific was the fastest expanding region in the elastic adhesives market. The Indian government's initiatives, such as the development of smart cities and the construction of the Navi Mumbai International Airport, are expected to boost market growth even further.
- As a result of the recovery of the automobile industry, North America is another major region in the elastic adhesives market. As a result of increased environmental concerns, there is a greater demand for fuel-efficient vehicles, which is propelling market expansion even further. Growing R&D in the aviation industry for the development of electric aircraft is projected to drive product demand in this region.
- Market players are adopting many strategies such as acquisition, mergers, contract, agreement and partnership to expand their business.
- In October 2016, Arkema (Bostik) introduced a high-performance olefin-based elastic attachment adhesive. This product set a new benchmark for olefin adhesive performance and productivity.
- Henkel reached an agreement in May 2017 to buy Sonderhoff Holding GmbH, which provides high-impact sealing solutions for industrial assembly. The company's position in the adhesive technology market will be strengthened as a result of this purchase.
- Henkel began work on its new state-of-the-art Adhesive Technologies plant in Düsseldorf in September 2018. The corporation intended to invest approximately USD 150 million in this project. Once completed, the building will house 350 Henkel experts who will work on developing innovative technologies and applications for a variety of industries.
Key Benefits of the Report
- This study presents the analytical depiction of the elastic adhesives and sealants industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the elastic adhesives and sealants market share.
- The current market is quantitatively analyzed to highlight the elastic adhesives and sealants market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed elastic adhesives and sealants market analysis based on competitive intensity and how the competition will take shape in coming years
Elastic Adhesives and Sealants Market Report Highlights
By End-User Industry
Key Market Players
3M Company, Henkel AG & Co. KGaA, LORD Corporation, Bostik SA, Illinois Tool Works Inc., H.B. Fuller, Arkema SA, Sika AG, Dow Chemical Company, Pidilite Industries Ltd.