Escalated environmental regulations as a result of escalated carbon emissions are predicted to drive market expansion

Elastic Adhesive Product Description:

The elastic adhesives market is predicted to grow from USD 16.7 billion in 2020 to USD 22.9 billion in 2025, with a compound annual rate of 6.7% between 2020 and 2025. Elastic adhesives are adhesives general purpose applications that offer exceptional resistance to a wide variety of material types. After curing, these products form a strong, rubber-like and flexible body. In addition, elastic adhesives find a large number of applications in the automotive sector such as the joining and fixing of vehicle parts. The product is also employed in the bonding and sealing of medical, electrical and electronic devices. Additionally, elastic adhesives are employed to seal a large number of household items, as well as to bond plastics, metals, and rubber. In addition, these products offer excellent resistance to shock and vibration and provide relaxation from stress.

Impact of Covid 19 on the Elastic Adhesive Market:

Due to the effects of the COVID-19 coronavirus, worldwide chemical production decreased 3.3% in March 2020 and 1.3% in April 2020. In August 2020, production escalated 2.7% by year. compared to the previous month. Although chemical production escalated in the former Soviet Union from January to March 2020, until it fell by a modest 0.1 percent in April and May 2020, production declined in most of the world during this period. Among all world regions, the Asia-Pacific decline in March was the largest, at 5.4%. In April 2020, India experienced the largest drop in monthly production of any country in the world, at 15.9% that month. Several European countries also posted some of the biggest production drops this month.

Market drivers and restraints:

The massive use of the product in the construction and building, packaging and labeling, and transportation sectors will guide the expansion of the elastic adhesives industry during the anticipated years. These products provide rubber-like elasticity and low distortion after shrinkage cure. Besides that, they also offer high peel strength, impact resistance, and flexibility to the articles. All these beneficial features will drive the expansion of the industry over the estimated period. Furthermore, elastic adhesives are widely employed in flooring, basement preparation and plowing in the construction industry. The booming construction sector in developing countries such as China and India will increase market penetration in the coming years. Apparently, strict enforcement of environmental laws that ensure air pollution reduction will create lucrative expansion paths for the elastic adhesives industry during the foreseen period. The booming tourism sector, as well as the aviation sector, will increase product sales. The product is widely employed in construction activities such as tile coating, flooring, tile grouting, and subfloor preparation. The rapidly expanding construction industry in developing economies like India and China, coupled with rising disposable income, is escalating market expansion. Escalated spending on construction activities by the government for infrastructure development is likely to drive market expansion in the regions. The expansion of the automotive industry coupled with the growing call for light vehicles is driving call for products around the world. In addition, escalated environmental regulations as a result of escalated carbon emissions are predicted to drive market expansion. Another factor that is predicted to drive the expansion of elastic adhesives is the escalating call for aircraft with the increase in air traffic and the expansion of tourism in emerging countries.

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Report segmented as:

By resin type:

·       Polyurethane

·       Silicone

·       SMP

By end use industry:

·       Construction

·       Industrial

·       Automotive & transportation

Geographical analysis:

The expansion of the market in Asia-Pacific during the estimated period is due to the escalated allocation of funds for the construction of solid infrastructure in the region. Furthermore, the launch of smart city project initiatives in countries such as China and India will lead to the expansion of the regional market in the coming years. Another prominent region in the elastic adhesives market is North America due to the rebirth of the automotive industry. Escalating call for fuel efficient vehicles due to growing environmental concerns is driving market expansion. Escalating R&D in the aviation industry for the development of electric aircraft is likely to stimulate call for products in this region. Europe is predicted to see significant expansion during the review period, with escalating call for light commercial vehicles due to the emission targets set by the European Union. Also, escalated consumption of packaged food and beverages due to convenience and improved shelf life is predicted to drive market expansion. Latin America is predicted to experience considerable expansion in the expansion of the automotive industry, particularly in Brazil and Mexico. The Middle East and Africa are predicted to experience moderate expansion during the period under review due to escalating call resulting from escalated sales of vehicles manufactured by Groupe PSA.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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