HOME Research Insight Henkel (Germany), Wacker Chemie (Germany), and Sika (Switzerland) are Some of the Leading Players in the Elastic Adhesive Market



Henkel (Germany), Wacker Chemie (Germany), and Sika (Switzerland) are Some of the Leading Players in the Elastic Adhesive Market


The elastic adhesive market is projected to grow from USD 14.53 Billion in 2017 to USD 20.07 Billion by 2022, at a CAGR of 6.68% between 2017 and 2022. The scope of the report includes elastic bonding adhesives and sealants. The Asia Pacific region is the largest consumer of elastic adhesives across the globe. Elastic adhesives enable improvement in aesthetics of windows and consumer durables by limiting the use of screws, nails, fillet bonders, and lightweight fittings. They have compatibility with metal surfaces, painted surfaces, all absorbent mineral substrates, wood, brickwork, and glass. They can be painted after complete polymerization as well.

The formulation and stringent implementation of various environmental regulations in the European and North American regarding the impact of the adhesives and sealants on the environment are leading to the growth of the elastic adhesive market across the globe. The growing environmental and regulatory concerns over the usage of petroleum-based adhesives in the European and North American regions have led to their replacement by eco-friendly elastic adhesives.

New product launches were among the key strategies adopted by the major players to achieve growth in the elastic adhesive market between 2011 and 2017. This strategy accounted for a share of more than 35% of all growth strategies adopted by key players in the elastic adhesive market from 2011 to 2017. The leading companies in the market have adopted this strategy to develop new and improved elastic adhesives for use in various applications. Henkel (Germany), Wacker Chemie (Germany), and Sika (Switzerland) are some of the leading players, who have adopted this strategy to strengthen their position in the elastic adhesive market between 2011 and 2017.

Besides new product launches, companies operating in the elastic adhesive market have also adopted strategies of expansions and mergers & acquisitions to increase their shares in the elastic adhesive market.

New Product Launches:

In February 2015, Wacker Chemie unveiled its new silane-terminated polymers for the formulation of industrial adhesives used for sealing flat surfaces at the European Coatings Show 2015.

In December 2013, Henkel introduced two new silane-modified polymer adhesives, namely, Teroson MS 930 and Teroson MS 939. These adhesives are used for elastic bonding, coating, and seam & joint sealing on most of the metal, plastic, and composite substrates. They provide high-strength bonds and offer good resistance to ultraviolet light and weather. As such, these adhesives are used in outdoor applications such as heavy equipment, specialty vehicles, trailers, railway cars, panel trucks, buses, and wind turbines.

In July 2013, Sika expanded its polyurethane-hybrid product range by introducing an Original Equipment Manufacturer (OEM) windshield adhesive, namely, Sikaflex-556. It is based on the black-primerless technology of Sika. Sikaflex-556 is a multi-purpose adhesive, which is commonly used for windshield replacement and substrate bonding in vehicles.

Expansions:

In May 2017, Wacker Chemie opened a new technical center for the construction and adhesives applications in Jakarta (Indonesia). This technical facility mainly focuses on polymeric binders that are used in construction applications such as adhesives, waterproofing membranes, and indoor paints. With this expansion, the company aims at strengthening its presence in Southeast Asia.

In March 2017, H.B. Fuller announced the opening of its new office in Dubai. This new office is expected to support the company’s increasing base of customers in the Middle East. It also aims at offering manufacturers of adhesives an alternative source for adhesives and sealants in the emerging markets.

Related Reports:

Elastic Adhesive Market by Resin Type (Polyurethane, Silicone, SMP), End-Use Industry (Construction, Industrial, Automotive & Transportation), Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2022

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