New York, Aug. 21, 2019 (GLOBE NEWSWIRE) -- The rise in demand from the Panel and Glazing Applications, developments in Adhesive Bonding technology and the increase in the use of Silicone Elastic Bonding Sealants & Adhesives have resulted in boosting the elastic adhesive market.

The global elastic adhesive market is forecast to reach USD 29.76 Billion by 2026, according to a new report by Reports and Data. The elastic adhesive market is forecasted to witness a significant growth during the forecast period. Elementary factors like expansion of end-user industries like construction sector & automotive industry, associated increased demand for this type of adhesive, the rise in demand from the Panel & Glazing Applications, developments in in Adhesive Bonding technology and the increase in use of Silicone Elastic Bonding Sealants & Adhesives have resulted in propelling the growth of the market.      

The rise in demand for Lightweight and Low Carbon Emitting Vehicles are also spurring the expansion of the market. The underlying reason being, to reduce the weight of vehicles, metal pins are increasingly replaced with heavy-duty adhesives, which results in increase in demand for elastic adhesives. Its traits like flexibility and extreme absorption of shock and vibration make it appropriate for use in the automotive industry. Furthermore, various research and developmental activities associated with the market are increasing the awareness about this type of adhesives. Yonsei University College of Medicine has conducted one of such mentionable researches. They emphasized on observing the impact of elastic adhesive tapes on lymphatic flow in the hind leg of rabbit. The study came up with the conclusion that enhancing the area of application of the tape increases the lymph flow rate. The findings of the study provided with a therapeutic method for patients with peripheral lymphedema.     

In context of region, North America holds a considerable market share. Factors like increasing demand for low weight automotive that are low carbon-emitting and fuel-efficient have resulted in increased application and expansion of the market in this region.     

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Further key findings from the report suggest

  • The elastic adhesive market held a market share of USD 17.23 Billion in the year 2018 with a grow at a rate of 6.4% during the forecast period.
  • In context to Resin type, the Polyurethane segment generated the highest revenue of USD 8.10 Billion in 2018 with a growth rate of 6.7% during the forecast period. The revenue generated by the Polyurethane segment is attributed to the expansion of the automotive sector and its extensive application for bonding windscreens, and rear & side windows in different types of automotive.
  • Among the different types of resins used for manufacturing elastic adhesives, the Silane Modified Polymers (SMP) segment is projected to witness the fastest growth rate of 7.7% during the forecast period, which is expected to generate USD 6.25 Billion by 2026. Absence of NCO group in SMP and the rise in awareness about hazardous substances contributes to the increased popularity and growth rate experienced by this type of resin.
  • In the context of End-users, the market has been segmented into Transportation, Construction, Electronics, Packaging & labeling, and Others. Among these segments, the Construction segment can be seen to lead the market occupying the largest market share of 49.0% in 2018, with the growth rate of 6.6% during the forecast period. Traits of this type of the adhesives like fast curing, considerable stress recovery, and adherence provided to non-primed surfaces, and protection of surfaces from abrasion makes it an appropriate choice for the construction industry. 
  • In regards to Application, Building maintenance segment generated the highest revenue of USD 5.51 Billion in 2018 with a CAGR of 6.7% during the forecast period. Revenue generated by this segment is attributed to increasing investment in infrastructural development and applicability of elastic adhesive on diverse substrates.
  • In regards to region, North America holds the second-largest markets share of 25.0% in 2018 with a CAGR of 6.3% during the forecast period. Factors like increasing demand for low weight automotive that are low carbon-emitting and fuel-efficient have resulted in increased application and expansion of the market in this region.
  • Key participants include 3M, Henkel, Arkema, Sika, DOW Chemical, Wacker Chemie, H.B. Fuller, Threebond, Weicon, and Cemedine.

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Segments covered in the report:

For the purpose of this report, Reports and Data have segmented the global elastic adhesive market according to Resin Type, End-user, Application, and Region:                     

Resin Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

  • Silane Modified Polymers (SMP)
  • Polyurethane
  • Silicone
  • Others

End-user Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

  • Transportation
  • Construction
  • Electronics
  • Packaging & labeling
  • Others

Application Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

  • Floor covering
  • Building maintenance
  • Automobile
  • Domestic appliances
  • Ships
  • Aircraft
  • Others

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Regional Outlook (Volume, Kilo Tons; and Revenue, USD Billion; 2016-2026)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of the Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Middle East & Africa
    • Latin America
  • Brazil

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