Structural Adhesives Market Industry Segments, Share, Growth, Trends, Demand, by 2023

Market Synopsis:

The global Structural Adhesives Market Grew to USD ~18.3 billion in 2016 with the CAGR of ~7.9% from 2016 to 2022. High demand of lightweight metals and composites in applications such as automotive, transportation, building & construction and furniture are expected to fuel the overall demand of structural adhesives in future. Structural adhesive used in automotive are known for providing better adhesion between distinct substrates such as steel and plastics. Thus, these composites are used in doors, window glass attachments, brakes and clutch plates and others. On account of high demand for passenger car in countries like China and India, automotive industry requires adhesives with structural integrity and strong bonding properties that is expected to impact the global structural adhesive market growth.

Increasing government spending in public infrastructure and commercial buildings is likely to drive the demand of structural adhesive in construction application such as window panels, roofing, and wall coverings. Changing consumer lifestyle with changing trends in furniture designs for building and construction application is going to boost the demand. Fluctuation in raw material price and strict environmental regulation can hamper the market in the coming years.

Water based structural adhesive is largely used in rigid joiningsuch as furniture panels, automotive assembly, joint cements and household appliances. Stringent regulations of environment agencies regarding presence of volatile organic compound (VOC) in solvent based adhesives has positively complimented the water based structural adhesive. The structural adhesive market is segmented into product types such as epoxy, acrylic, cyanoacrylate, urethanes and others. Urethane adhesive are priced less and are highly preferable with respect to elastic bonding in application such as automotive and construction. They possess properties such as high elasticity, durability and flexibility when used among dissimilar materials. These factors are expected to contribute towards growth of structural adhesives market which has started since in forecasted period from 2016 to 2022. Cyanoacrylic adhesives is expected to witness high growth owing to the properties such as low toxicity and faster setting. High industrial output along with its abovementioned properties will drive the growth of cyanoacrylic adhesives. Epoxy adhesives provides high strength and temperature resistance which are highly preferable to enhance the rigidity and reduce noise of automotive components such as turbine and blade. These factors are expected to drive the demand of structural adhesive market in future.

Asia Pacific accounts for the largest market share owing to rapid industrialization and growing demand from construction and furniture industries. China, India, Thailand and Indonesia are the fastest growing regions of global structural adhesive due to government tax incentives, subsidies provided and easy availability of raw material and labor. North America is expected to witnessed a steady growth due to slow growth of industries post-recession and increase in consumer spending particularly in U.S. that will drive the demand of this market.

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Intended Audience

  • End-product manufacturers.
  • Raw material suppliers
  • Traders and distributors of structural adhesives
  • Potential investors
  • Government bodies and research organization

Study Objectives of Structural Adhesives Market:

  • To study market overview of the structural adhesives.
  • To estimate market size by product, raw material, product type and application.
  • To provide insights about market drivers, restrains and opportunities.
  • To provide geographical market analysis and future outlook for North America, Europe, Asia, along with rest of the world (ROW).
  • To analyze the global structural adhesives market based on various factors- supply chain analysis, Porters Five Force analysis etc.
  • To provide strategic profiling of the key players in the market, broadly analyzing their core competencies.
  • To evaluate competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global structural adhesives

Key Players

The global manufacturing companies are increasing investment in R&D for technological advancement in structural adhesive. The key players in this segment are 3M Company, The Dow Chemical Company, Ashland Inc., SIKA AG, Henkel AG & Co., Lord Corporation, Scott Bader Company, Arkema S.A., Hubei Huitian Adhesive Enterprise Co., Ried B.V. Co. and others.

Reasons to buy

  • This report includes an in-depth study analysis of structural adhesives market.
  • It covers market segmentation by raw material, by product type and by application.
  • It helps in identifying region wise major suppliers and understanding consumption patterns.
  • The report provides useful and premium insights about global structural adhesives market that will support investments in structural adhesives and allied companies by providing details on the fastest growing segments and regions.
  • In addition, it will provide key findings that will help companies to improve profitability by using supply chain strategies and cost effectiveness on various products mentioned in the report.
  • The data used in the report is primarily based on primary interviews with major producing companies and industry experts which are supported by authentic industry data from secondary sources.

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