Elastic adhesives are used to join two materials with a coating of these adhesives. These adhesives offer impact resistance, high discard strength, and flexibility. The global elastic adhesive market is growing at a decent rate and is expected to achieve good growth during the forecast period. This is attributed to the extensive use of these adhesives in various end-user industries, majorly in construction and transportation.

They are also majorly consumed for glazing, which has limited the use of screws, nails, and others, which has contributed towards the market growth. Along with that, these adhesives are widely used in construction activities including flooring, tiling, tile grout, and subfloor preparation.

On the basis of resin type, the elastic adhesive market is categorized into polyurethane, silicone, silyl modified polymers, and others. The polyurethane segment is anticipated to lead the market in the coming years.

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Polyurethane type resin is commonly used for bonding windscreen, side and rear windows of cars, tractors, trucks, and others. However, the highest CAGR is projected to be registered by the silyl modified polymers category in the market during the forecast period, as it possesses high chemical stability against external agents which includes ultraviolet light and oxygen.

The major challenge identified in the market, which can hinder the market growth is the lack of knowledge among end-user industries with regards to profits offered by these adhesives, which is anticipated to hold back the expansion of the elastic adhesive market during the forecast period.

The elastic adhesives market is fragmented; however, the majority of market share is captured by some major players having a global footprint and vast product portfolio. This is making it difficult for small players to compete in the market.

The most prominent players operating in the elastic adhesives industry are Henkel AG & Co., KGaA, Arkema Group, DowDuPont, Inc., 3M Company, Wacker Chemie AG, H.B. Fuller, ThreeBond Holdings Co., Ltd, CEMEDINE Co., Ltd., Mapei Construction Products India Pvt. Ltd., and SAMEDIA.

Source: VynZ Research