Global Elastic adhesive Market to Witness Huge Growth by 2024

Elastic adhesive are used to join two materials with a coating of these adhesives. These adhesives offers impact resistance, high discard strength, and flexibility. The global elastic adhesive market is growing at a decent rate and expected to achieve the 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 the construction activities including flooring, tiling, tile grout, and subfloor preparation.

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The major factors that are driving the elastic adhesive market growth are the rising demand from end-user industries, increasing demand from developing countries, and increasing implementation of these adhesives in construction industry. Rapidly expanding construction industry in the developing countries such as China and India along with the rising level of income is augmenting the growth of the market.

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.

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Asia-Pacific is projected to witness the highest growth in the elastic adhesive market during the forecast period. The regional elastic adhesive industry has seen a significant growth in the recent years. This is attributed to the increasing income level of the middle-class population, rising government investment in various industries, particularly construction. The shift in manufacturing bases from developed to developing countries due to the stringent regulations and low labor is also among the major factors that are driving the demand of these adhesives 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.

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This release was published on openPR.