Better durability and enhanced bonding characteristics of rubber adhesives have opened new avenues of growth across industries such as construction, mining, automotive, electronics and aerospace. Off these, construction and mining industries are expected to reflect higher lucrativeness apropos to use of rubber adhesives. The rubber adhesives market has remained influenced with growing use in various applications such as in carpet layment, roofing, floor underlayment, tiling, drive belts and conveyor belts. Their use in these industries remains pivotal in driving market growth on the global front.
Synthetic Rubber Adhesives to Witness Higher Adoption Owing to Their Functional Benefits
Demand for synthetic rubber adhesives as compared to their natural counterparts is expected to witness momentous growth in the coming years. Natural rubber adhesives have various functional limitations. They are not suitable for applications that require robust reinforcement or in harsh and adverse environments. Natural rubber adhesives are not resilient to solvents and oils and do not perform well in applications with high loads. Moreover, other backdrops associated with natural rubber such as increasing prices and political and regional constraints apropos to establishment of rubber plantations have influenced the development of synthetic rubber. On the contrary, synthetic rubber adhesives offer enhanced abrasion resistance, higher elasticity, better resistance against heat and aging, higher insulation quotient, better resilience to oil and grease and are flame retardant. This aspect is expected to influence their use across a broader range of applications, consequently contributing to the rubber adhesives market growth.
Increasing Application in Conveyor Belt Maintenance to Spur Rubber Adhesives Market Growth
Use of rubber adhesives across various industrial applications has remained instrumental in driving their market growth worldwide. Their use particularly in conveyor belts is expected to increase at a significant rate in the years to follow. Conveyor belts are used in various industries such as mining and construction, to name a few. Belts reinforced with steel cords or nylon is an expensive affair of a conveyor system. Owing to extreme conditions, abrasive nature of material transported and harsh environment lead to wear and tear of the conveyor belts. To reduce the burden of additional cost, their maintenance plays a crucial role in increasing service life, which can be achieved using rubber adhesives. This has propelled the use of rubber adhesives in repairing and enhancing conveyor belt life, thus reducing operational costs. In this background, high demand in conveyor belt applications is expected to largely contribute to the revenue and valuation of the rubber adhesives market.
Asia Pacific’s Rubber Adhesives Market to Witness Upsurge – India and China Likely to be on the Driving Seat
Increasing demand for adhesives across emerging economies in Asia Pacific owing to a significant growth in the construction and automotive sector remains instrumental in fuelling growth of the rubber adhesives market. Asian countries such as China and India are poised to significantly contribute towards the valuation of the rubber adhesives market in Asia Pacific in the following years. The impressive expansion of the construction sector in China is expected to provide potential opportunities for use of rubber adhesives. Likewise, buoyancy in the construction industry in India is likely to provide various growth pathways apropos to demand for rubber adhesives.
India and China are expected to lead Asia Pacific’s construction industry as their respective governments focus on powering infrastructure growth. According to the Ministry of Housing and Urban-Rural Development, construction industry in China will maintain its contribution of 6% to the national GDP, with a valuation of around US$ 890 billion in 2022. This sector is considered of high political importance than in other Asian countries. Moreover, in the beginning of 2022, Chinese government has laid a five-year development plan for China’s construction sector. Also, construction of 6.5 million rental units are being planned and 219,000 old units would be refurbished, the Ministry added. That said, growth in the construction sector is expected to provide high growth potential with respect to adoption of rubber adhesives in the following years.
Other Asian countries are also poised to showcase higher lucrativeness for the rubber adhesives market. For instance, according to Australian Construction Industry Forum (ACIF), substantial growth in the construction sector in Australia is likely to be seen. Construction of new air ports, new road construction and construction of residential and commercial buildings are in the offing. That said, manufacturers of rubber adhesives can focus on the Asia Pacific on the back of its higher attractiveness, making it an opportunistic region for rubber adhesives market.
Rubber Adhesives Market: Competitive Landscape
Few of the key players in the rubber adhesives market include 3M, Henkel AG, Huntsman Corporation, LORD Corporation, DOW Chemical Company and KGAA.
Global Rubber Adhesives Market is Segmented as Below:
Key Elements Included In The Study: Global Rubber Adhesives Market
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