Rubber Repair Adhesives Market to Surge at a Robust Pace in Terms of Revenue Over 2025| MarketsandMarkets™
Rubber repair adhesives are used to repair and bond rubber surfaces and components. They have been specifically designed to bond rubber to rubber, rubber to metal, rubber to plastic, and other combinations. Rubber repair adhesives are widely used in many industries, including automotive, medical, and aerospace. They are also utilized in the production of rubber seals and gaskets. Rubber repair adhesives are expected to grow in demand as demand for rubber components and parts rises, as does the need for rubber part repair and maintenance.
The report "Rubber Repair Adhesives Market by Process (Hot Bond, Cold Bond), Application (Conveyor Belts, Tanks & Vessels, Pipes & Fittings, and Others), End-use Industry (Mining & Quarrying, Cement & Aggregate, Steel and Others), Region - Global Forecast to 2025", is expected to grow from USD 291 million in 2020 to USD 354 million by 2025, at a CAGR of 4.0% during the forecast period.
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Rubber repair adhesives used in the hot bond process comprises the major share of the market in terms of value.
The global rubber repair adhesives market is expected to grow at a healthy CAGR from 2020 to 2025. This is primarily due to rising demand for rubber repair adhesives in the automotive, construction, and other industries. The hot bond process, which requires the use of rubber repair adhesives for a strong bond, is a popular method for bonding rubber components. During the forecast period, this factor is expected to drive market growth. Furthermore, rising demand for rubber repair adhesives in the automotive industry is expected to boost market growth. In the near future, the growing demand for electric vehicles is expected to create lucrative opportunities for the rubber repair adhesives market.
Conveyor belts are the largest application of rubber repair adhesives during forecast period
Conveyor belts account for more than 40% of the total market share during the forecast period. This is due to rising demand for conveyor belts in industries such as food and beverage, automotive, and construction. The demand for rubber repair adhesives is expected to rise during the forecast period due to the increased demand for efficient conveyor belts for the safe and efficient transfer of material and equipment. During the forecast period, the increasing demand for conveyor belts from the food and beverage industry is expected to drive demand for rubber repair adhesives.
The mining & quarrying end-use industry accounted for the largest share in the global rubber repair adhesives market
The mining and quarrying end-use industry held the largest share of the global rubber repair adhesives market in 2020. This is because rubber repair adhesives are used in a variety of applications, including sealing, filling, and repairing of rubber components used in mining and quarrying processes. The increasing demand for rubber repair adhesives from the mining and quarrying industries is expected to drive market growth during the forecast period. Furthermore, rising demand for rubber repair adhesives for use in the automotive and construction industries is expected to propel market growth in the coming years.
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The key players in the market include LORD Corporation (US), Fourthane (Chile), 3M (US), Henkel AG & Co. KGaA (Germany), Sika AG (Switzerland), H.B. Fuller Company (US), Belzona International Ltd. (England), Rema Tip Top AG (Germany), ITW Performance Polymers (US) and Eli-Chem Resins UK Limited (UK) and others.
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