Market Research Report
Global Elastic Adhesives & Sealants Market - 2019-2026
|Published by||DataM Intelligence||Product code||938652|
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|Global Elastic Adhesives & Sealants Market - 2019-2026|
|Published: May 23, 2020||Content info:||
Elastic adhesives & sealants are bonding materials that exhibit strong elasticity, flexibility, and varied adhesive properties. These materials have low contraction or distortion when curing and absorb external stress of vibration and shock. The elastic adhesives & sealants are widely used for windows, consumer durables, and glazing. The elastic adhesives & sealants are compatible with the metal surfaces, painted surfaces, all absorbent mineral substrates, wood, brickwork, and glass. These materials are easy to paint the elastic adhesives & sealants after the completion of the polymerization. The global elastic adhesives & sealants market valued USD XX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
The market is driven by the rising demand for the elastic adhesives & sealants from the glazing and window panel applications as elastic adhesives & sealants are the ideal choice for bonding the glazing and window panels in many new high-rise buildings due to their advantages such as better joining properties, aesthetics, and longer bond life. Moreover, the elastic adhesives & sealants provide the vibration dampening, lesser assembly time, excellent finish quality, and lower requirement for cold-conducting metal frames in glazing and window panes and panels. These materials limit the use of screws, nails, fillet bonders, and lightweight fittings. The elastic adhesives & sealants have demonstrated the improved flexibility/elongation, impact/thermal cycling resistance, peel strength, and long-term durability in comparison to the conventional adhesives & sealants.
There is a rise in the launch of the elastic adhesives & sealants. For instance, in November 2016, Bostik, a member of the Arkema group of companies, had launched a new olefin elastic attachment adhesive. This adhesive is the high-stress hot melt polyolefin adhesive that can be used to attach elastic strands to items such as disposable diapers and adult incontinence products. This product would be marketed under the trademarked name "Brilliance".
In January 2015, L&L had launched the series of the elastic sealants and adhesives, a range of high performance, room temperature curing paste materials formulated to meet the demanding requirements of the global commercial vehicles industry. These products are designed to seal joints in the body structure to prevent water, noise, air, dust, and fumes from intruding into the interior compartment of a commercial vehicle. The range also includes elastic adhesive bonding materials with an excellent balance of strength, elongation and creep resistance for applications requiring robust assembly of dissimilar substrates.
However, there is a lack of awareness regarding the availability of elastic adhesives & sealants is hindering the market growth. There is higher adoption of the conventional sealants in comparison to the elastic adhesives & sealants in the industries. Although the conventional sealants lack the advantages of the elastic adhesives & sealants but the majority of the end-users are satisfied with the existing conventional adhesives & sealants as these conventional adhesives & sealants serve the purpose of bonding substrates together.
The global elastic adhesives & sealants market is segmented based on resin type as polyurethane, silicone, SMP, and others. The SMP segment accounts for the significant market share of XX% in 2019 due to increasing usage of the SMP elastic adhesives & sealants as these adhesives & sealants odorless, free of isocyanates and solvents, and emit no VOCs. There are stringent regulations that prohibit the use of highly toxic solvents with VOC emissions. The SMP elastic adhesives & sealants are made up of silane-modified polymer (SMP) that comprised of the polymer backbone which is terminated by silane groups. The silane groups can be independent or supported by urethane groups. The SMP elastic adhesives & sealants are highly flexible, moisture-curing adhesives and sealants that combine the best properties of silicone and polyurethane. These elastic adhesives & sealants don't require the primers and have adhesion with almost every substrate. These adhesives & sealants are easily paintable. The SMP elastic adhesives & sealants comprised of excellent weathering resistance, color stability, and UV resistance. The market is dominated by the availability of several SMP elastic adhesives & sealants. For instance, Simson's PanelTack HM is a moisture-curing, SMP based elastic adhesive. It is developed for bonding exterior flat facade panels like fibre cement cladding panels and durable plywood panels. It comprised of characteristics such as Solvent- and isocyanate-free, excellent mechanical strength, long term high elasticity with the optimum distribution of strain, good moisture- and weather resistance, simple and fast fixation.
Further, the market is also classified based on end-users as construction, industrial, and automotive & transportation. The construction segment accounts for the highest market share of XX% in 2019 owing to the high usage of the elastic adhesives & sealants for structural and non-structural bonding on construction sites. There is growing adoption of the elastic adhesives & sealants for bonding the materials such as plastics, composites, and acrylics in the modular construction. The elastic adhesives & sealants are more favorable in comparison to the traditional techniques that cannot withstand the heat of welding, bolts may hamper the aesthetics, or cannot be bonded with other techniques. The elastic adhesives & sealants provide strong bonding and excellent stress recovery to retain shape after being pulled or bent. The durable fire-resistant or chemical resistant elastic adhesives & sealants are used for bonding the walls, facades, windows, walkways and balconies, floor bathrooms and kitchens applications for residential or commercial buildings.
By region, the global elastic adhesives & sealants market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, Asia Pacific dominated the global elastic adhesives & sealants market and expected to witness the highest CAGR during the forecast period due to the high usage of the elastic adhesives & sealants in the automotive and construction industries. There is growing awareness regarding the benefits of elastic adhesives & sealants. The Asia Pacific region provides lucrative opportunities to the market players owing to the rising industrial development and improving economic conditions. The growing manufacturing and processing sectors shall stimulate market growth over the forecasted period. It is further expected that the Asia Pacific region shall maintain its dominant market position over the forecasted period.
North America is expected to have positive market growth due to the increasing construction activities. There is rising government investment for construction activities. The rising research and development activities in the aerospace sector shall increase the development of the electric planes that require the use of the elastic adhesives & sealants. The growing supply for fuel-efficient vehicles shall boost the market demand for elastic adhesives & sealants.
The global elastic adhesives & sealants market is highly competitive with the presence of several international and local markets. Henkel AG & Co., H.B. Fuller Company, 3M, DowDuPont Inc., Sika AG, Bostik (acquired by Arkema), Weicon GmbH & Co. KG and Beijing Comens New Materials Co., Ltd are the leading market players with significant market share.
The major players are using product development, novel product launch, market expansion, capacity utilization, and product diversification strategies for holding their position in the market. For instance, L&L has expanded its sealant offerings by formulating a series of innovative one-component sealant/adhesives that completely cure at room temperature. The company includes the materials with a range of mechanical properties, from elastic sealants to creep resistant elastic adhesives.
In July 2015, Bostik S.A (acquired by Arkema S.A.) had extended its hot melt pressure sensitive adhesives (HMPSA) production capacities with the opening of a new plant, at its manufacturing facility in Bangalore, India. The development would enhance Bostik's ability to serve customers in the disposable hygiene sector. Bostik supplies solutions for demanding applications including elastic attachment, wetness indication, and stretch.
In November 2017, Bostik S.A (acquired by Arkema S.A.) had expanded its manufacturing capacities with the opening of a new facility in Gujarat. The new plant would serve the fast-growing demand in India for adhesives in industrial markets.
The companies are entering into the collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for Elastic Adhesives & Sealants and their expansion across the globe. For instance, in January 2020, Bostik S.A (acquired by Arkema S.A.) had acquired the LIP Bygningsartikler AS (LIP), the Danish leader in tile adhesives, waterproofing systems, and floor preparation solutions. This acquisition would help the company to grow its adhesives business through bolt-on acquisitions which complement Bostik's geographic presence, product ranges, and technologies.
In July 2018, Henkel had signed an agreement to acquire Aislantes Nacionales S.A., a major player in the Chilean tile adhesive and building materials market. This acquisition would help the company to enter the attractive Chilean building materials market in a strong position.
In January 2016, TerraVerdae BioWorks had entered into a strategic partnership agreement with PolyFerm Canada, a Canadian biopolymer company focused on developing renewable & biodegradable alternatives to petrochemical-based elastomers. This partnership expands TerraVerdae's product and technology portfolio into the high growth market of biodegradable thermoelastomers. This partnership would allow the company to provide the customers with the most comprehensive product portfolio of biodegradable polymers and opens up significant opportunities in a new, high-growth market.
In February 2015, Arkema S.A. had acquired the Bostik S.A. from Total S.A. Under the terms of the agreement, Bostik S.A would constitute a new business unit i.e. specialty adhesives within Arkema's high-performance materials segment.