RUBBER REPAIR ADHESIVES MARKET PROJECTED TO REGISTER A CAGR OF 4.0 PERCENT THROUGH 2025


RUBBER REPAIR ADHESIVES MARKET PROJECTED TO REGISTER A CAGR OF 4.0 PERCENT THROUGH 2025

The "Rubber Repair Adhesives Market by Process (Hot Bond, Cold Bond), Application (Conveyor Belts, Tanks and Vessels, Pipes and Fittings, and Others), End-use Industry (Mining and Quarrying, Cement and Aggregate, Steel and Others), Region - Global Forecast to 2025," report has been added to ResearchAndMarkets.com's offering. The rubber repair adhesives market is projected to register a CAGR of 4.0 percent, in terms of value, between 2020 and 2025. The global market size of these adhesives was $281.0 million in 2019, and is projected to reach $354.2 million by 2025. In many industries such as mining and quarrying, cement and aggregate, and steel industries, rubber repair adhesives have a high demand for repairing rubber conveyor belts, pulleys and rubber linings of tanks and vessels, pulleys and rollers. The cement and aggregate end-use industry dominated the global rubber repair adhesives market. The cement and aggregate industry is the major indicator of the global construction industry. The construction sector has a high demand for cement and aggregates globally. As the global construction sector is growing at a burgeoning rate owing to private and government funding, there is a high demand for cement and aggregate industry and rubber repair adhesive used in the cement and aggregate industry. Rubber repair adhesives used in the hot bond process for repair of conveyor belts application have high demand from the global mining and quarrying, cement and aggregate and steel industries for repairing conveyor belts. This is owing to their superior performance and non-carcinogenic formulations. Adhesives used in the cold bond process have a low growth rate as they have carcinogenic content and not preferred in many countries for repair solutions. Conveyor belts is the major application of rubber repair adhesives and have high demand from mining and quarrying, cement and aggregate and steel industries. These industries are well established and are growing at a rapid pace globally. These industries employ rubber conveyor belts in large numbers that are subjected to damage due to material transport and need rubber repair adhesives in large quantities. Hence, conveyor belts as the fastest-growing application segment is projected to be the fastest-growing in rubber repair adhesives market in terms of value. APAC is projected to be the fastest-growing region in the rubber repair adhesives market during the forecast period. China and India in the region are the two major markets that are growing at a significant pace in the region due to the presence of established mining and quarrying, cement and aggregate and steel, chemical, water treatment and oil and gas end-use industries in the region. These industries use rubber repair adhesives-based in conveyor belts, pulleys, pipes and fittings, tanks and vessels, pump housing and rollers.

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