Rubber Repair Adhesives Market size, share & Growth

 

Rubber Repair Adhesives Market

The Rubber Repair Adhesives Market is expected to grow at a robust CAGR over the forecast period (2020-2027).

The factors driving growth of the Rubber Repair Adhesives Market includes increasing application of rubber adhesives in the maintenance of rubber conveyor belts, pulleys and rollers, expansion of the mining and construction industries, and improvements in the living standards. For instance, the revenue generated by the construction industry across United States is expected to reach USD 10.50 billion by the end of 2022, expanding at a CAGR of 3.90%, over the forecast period (2022-2025), which will accelerate the Rubber Repair Adhesives Market size in the approaching years. Moreover, technological advancements in rubber adhesives, rise in Government’s expenditure on infrastructure projects around the world, rise in the launch of new products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic alliances, and collaborations between enterprises, growing disposable incomes and rising population growth rates, are further contributing towards the market growth. 

However, growth of the Rubber Repair Adhesives Market is hindered due to variations in the prices of raw materials.

The prominent players operating in the Rubber Repair Adhesives Market includes H.B. Fuller Company, Henkel AG & Co. KGaA, Sika AG, Belzona International Ltd., ITW Performance Polymers, Rema Tip Top AG, Fourthane, Parker Hannifin Corporation, 3M Company and Eli-Chem Resins UK Limited, among others.

Based on Application, the Conveyor Belts segment is predicted to capture the largest market share during the forecast period attributed to its increasing application in construction, mining, and quarrying industries

Conveyor belts needs repair and maintenance owing its exposure in harsh environments, which is pushing growth of the segment.

Based on End-Use Industry, the Mining & Quarrying segment is projected to expand at a remarkable CAGR over the forecast period

As per the Rubber Repair Adhesives Market Global Forecast, increasing application of rubber repair adhesives across mining, cement manufacturing and quarrying industries to protect screw conveyors and conveyor belts, is propelling segment’s growth.

Based on Region, the Asia-Pacific region is estimated to grow at a significant CAGR during the forecast period

According to the Rubber Repair Adhesives Market Analysis, expansion of the construction industry, technological advancements in rubber repair adhesives, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the factors driving the market growth in the Asia-Pacific region.

Key Developments

  • In 2019, Parker Hannifin Corporation, completed the acquisition of LORD Corporation, a manufacturer of advanced adhesives and coatings, as well as vibration and motion control technologies. Through this acquisition, the company planned to strengthen Parker Hannifin Corporation’s business portfolio and expand its materials science capabilities.
  • In 2019, Sika AG acquired Crevo-Hengxin to expand its target market for sealing and adhesives products in China and the Asia Pacific region.
  • In 2018, Meridian Adhesives Group acquired Evans Adhesive Corporation, manufacturers of industrial adhesives. The company planned to expand its product portfolio of the Meridian Adhesives Group.

Market Segmentation

Segmentation by Process

  • Hot Bond
  • Cold Bond

Segmentation by Application

  • Conveyor Belts
  • Tanks & Vessels
  • Pipes & Fittings
  • Others

Segmentation by End-Use Industry

  • Mining & Quarrying
  • Cement & Aggregate
  • Steel
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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