Elastic Adhesives Market Size 2022 with Strategies to Boost Growth, Top Key Players Analysis, Business Demand, CAGR Status and Forecast 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Elastic Adhesives Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Elastic Adhesives Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Elastic Adhesives Market products.

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Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.

Global Elastic Adhesives Market was valued at USD 15.67 Billion in the year 2018. Global Elastic Adhesives Market is further estimated to grow at a CAGR of 6.8% from 2019 to reach USD 24.84 Billion by the year 2025. In the Global Elastic Adhesives Market, by region, Asia Pacific region holds the highest Market share in 2018 and the European Market is considered as the fastest growing in the forecasted period owing to their Market demands. At a country level, China and India in Asia-Pacific are projected to grow strongly in the coming years. The Asia Pacific elastic adhesive Market has grown over the past few years due to the rising income level of the middle-class population and increasing government investments.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The segmentation is done on the basis of type, by application and by region. On the basis of types, the Polyurethane segment is projected to be the largest and the fastest-growing adhesive type segment of the Elastic adhesives Market. The segmentation is done on the basis of application the Building Maintenance segment is projected to be the fastest-growing application segment of the Elastic adhesives Market. This growth can be attributed to the expansion of the construction Market in the APAC region.

Major market players in Elastic Adhesives Market are Henkel AG & Co. KGaA, Wacker Chemie, 3M Company, The Dow Chemical Company, Sika AG, H.B. Fuller Company, Weikon, Cemedine Co. Ltd., Arkema (Bostik), Threebond, and other 9 more companies detailed information is provided in the report. In 2014, Henkel AG & Co., KGaA, a German chemical, and consumer goods company, introduced two new products – Teroson EP 5065 and Tereson MS 9221 widely suitable for structural adhesions in vehicle components.

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SWOT analysis of Elastic Adhesives Market

Growing demand for the elastic adhesive in APAC Region
Increasing investment in the residential and non-residential construction Market

Changing government regulations and norms.
Lack of Acceptance from End Users

Increasing spending on construction activities by the government
Infrastructural development

Growing environmental regulations

Elastic Adhesives Market Overview, By Application
*Building Maintenance
*Floor Covering
*Domestic Appliances

Elastic Adhesives Market Overview, By Type
*Silicone Modified Polymers

Elastic Adhesives Market Overview, By Region
North America
*Rest of Europe
*Rest of Asia-Pacific
*Latin America
*Middle East & Africa

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Reasons to Purchase this Report
*Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
*Provision of market value (USD Billion) data for each segment and sub-segment
*Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
*Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
*Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
*Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
*The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
*Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
*Provides insight into the market through Value Chain
*Market dynamics scenario, along with growth opportunities of the market in the years to come
*6-month post sales analyst support

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