Structural Adhesive Market Estimated to Soar Higher By 2027
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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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