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Structural Adhesive Market Estimated to Soar Higher By 2027

09-19-2018 08:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

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Structural Adhesive Market Estimated to Soar Higher By 2027

Particularly designed to bind almost all metals, thermoplastics, composite materials and few other dissimilar substrates, structural adhesives are unique type of adhesives that are used in many applications such as industrial assemblies, transportation, wind energy, automotive, construction, marine, and HVAC. Use of structural adhesives has been increasing in applications in the aerospace industry owing to their remarkable advantages over some other procedures of fastening. Nitrile Phenolic and Epoxies are two adhesives that grab major share of structural adhesive markets and they are expected to remain substantial in the near future, however their percentage of share is likely to come down during the projected period. On the other hand modified acrylics and urethanes have greater growth potential and are likely to capture remarkable revenue share in the structural adhesives market.

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Structural Adhesive Market- Drivers

Rising demand of structural adhesive in various applications particularly in aerospace and automotive is fuelling the growth of structural adhesive market. Remarkable growth of the market in Asia Pacific due to rising awareness about good quality products and growing population are likely to create positive impact on structural adhesive market. Increasing constructional activities such as bridges, dams, railroad crossing, tunneling, airports are boosting the growth of the structural adhesive market. One type of structural adhesive called as epoxy adhesives are expected to witness tremendous growth throughout the projected period. An increasing usage of epoxy adhesives across the globe particularly in niche applications is expected to spur the growth of the structural adhesives market.

Structural Adhesive Market- Restraints

Ease and proficiency in conventional joining methods such as nuts, welding, mechanical fasteners, and bolts have been translating into certain OEMs ignoring the performance attributes of structural adhesives, which is expected to hinder the growth of the global market for structural adhesives. Due to environmental concerns, regulatory authorities such as Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and Environment Protection Agency (EPA) are continuously taking measures to restrict the usage of structural adhesives in order to reduce the adverse effects on the environment; this is major aspect which is impeding the growth of structural adhesive market.

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Structural Adhesive Market- Regional Overview

Latin and North America, Europe, Asia-Pacific, MEA are some of the regions which are examined to deeply understand the market for structural adhesive. After detail study of the market it has been observed that Japan and Asia-Pacific together are likely to dominate the structural adhesive market. The demand for structural adhesive has been increasing since last few years from these two regions followed by Western Europe and North America. The major reasons behind the exponential growth of structural adhesive market in Asia-Pacific region are increasing demand from applications such as building and construction, automotive, aerospace and bus & truck. Some other factors which are making the region a strategic destination in terms of structural adhesive market are increasing developments and innovations in end use industries, ever increasing population as well as competition between manufacturers.

Structural Adhesive Market- Key Vendors

Arkema, Hubei Huitian Adhesive Enterprise Co. Henkel AG, Scott Bader, 3M, SIKA AG, Ashland, Dow Chemical Company, Lord Corporation, and ITW are some of the key vendors involved in the structural adhesive market

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