Structural Adhesive Market Size, Share & Trends , Outlook at a CAGR of 6.98% from 2018 to 2026

The global structural adhesives market was valued at US$ 9,419.4 Mn in 2017. It is anticipated to expand at a CAGR of 6.98% from 2018 to 2026, according to a new research report titled 'Structural Adhesives Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026,' published by Transparency Market Research (TMR)  The global structural adhesives market is driven by a rise in demand for structural adhesives from the building & construction and wind energy sectors worldwide. In terms of demand, Asia Pacific accounts for a dominant share of the global structural adhesives market.

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Increase in Demand for Lightweight and Low-carbon Emitting Vehicles and Aircraft are Driving the Structural Adhesives Market

The automotive industry is continually working toward designing lightweight and fuel-efficient vehicles that can reduce carbon dioxide emissions significantly. Stringent regulations regarding carbon dioxide emissions are being imposed worldwide. Structural adhesives play an important role in reducing carbon dioxide emissions. They provide vehicles with structural strength. They possess the ability to bond various surfaces together. Use of structural adhesives makes vehicles lighter, quieter, and safer compared to mechanical fastening methods such as welding, bolting, and soldering. Structural adhesives are known to distribute load evenly across a surface, resulting in better efficiency compared to mechanical fastening, which generates local stress in parts joined. Currently, around 15 kilograms of adhesives are used in an average car. This amount is likely to increase in the next few years. Structural adhesives are preferred for use in interiors, exteriors, and engine compartments of aircraft, due to their advantages over other types of adhesives. Structural adhesives carry higher weight loads and improve uniform distribution of stress and strain across the joints. They also maintain the integrity and strength of materials, as there is no hole, rivet, or fastening element to weaken the structure. The above-mentioned factors are projected to fuel demand for structural adhesives worldwide during the forecast period.

Stringent Environmental Regulations in North America and Europe are Hampering the Structural Adhesives Market

Volatile organic compounds (VOC) emitted during the use of structural adhesives pose a threat to the environment. Several countries have set guidelines restricting the amount of VOCs emitted during the usage of structural adhesives in industries. Manufacturing operations are bound by regulations and rules with respect to evaluation, registration, storage, usage, handling, and transportation of certain substances and their emissions, effluents, and other wastes. Violation of these regulations is expected to lead to legal obligation in future business activities. These environment-related regulations restrain the demand for structural adhesives in the residential and non-residential construction sector, as violation of these government regulations is projected to attract heavy penalties. Rapid industrialization and urbanization have increased air pollution, which has affected the health of people across the globe. Several developing as well as developed countries are facing pressure from domestic and international regulatory bodies to formulate regulations and principles about control of VOC emissions in order to lower the levels of pollution. Air pollutants, such as VOCs, particulate matter, carbon monoxide, oxides of nitrogen, and sulfur dioxide, cause serious health hazards to agriculture and climate worldwide. VOCs are major air pollutants in urban areas. Emission standards have been fixed to facilitate the effective control of air pollution. These standards have set permissible limits that are formulated by organizations such as the Central Pollution Control Board, Ministry of Environment & Forests, Bureau of Indian Standards, World Health Organization, and National Emissions Inventory. The National Emissions Inventory is a combination of data collected from various sources, including the industrial sector, EPA models, and numerous state and local agencies.

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Urethane Segment to Dominate Global Structural Adhesives Market

Based on type, the global structural adhesives market has been segmented into epoxy, acrylic, cyanoacrylate, urethane, and others. The others segment comprises silicon, anaerobic adhesives, and vinyl acetates. The urethane segment accounted for a leading share of the global structural adhesives market in 2017. The segment is likely to remain highly attractive during the forecast period, due to the cost-efficient and fast-curing nature of urethanes. Also, urethanes provide strong bonding to larger areas, which provides them a competitive advantage over other types of adhesives.

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