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Global Structural Adhesive Market projected to Reach USD 28 Billion by 2026
Global Structural Adhesive Market
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The structural adhesive is a strengthening agent that holds two bodies together. The rise in demand from furniture, transportation, and consumer appliances is expected to propel the growth of structural adhesives in the forecasted period.
The rise in demand for lightweight material by the automotive industry is likely to become a major driver of structural adhesives. For manufacturing, lightweight parts plastic and aluminum are used in the automotive industry. According to one research, reducing the vehicle weight by 10%, increase the fuel economy by 6% to8%. Structural adhesives join the aluminum and plastic parts easily.
The growing construction industry is projected to create demand for furniture, roofing, and flooring. These applications would need structural adhesives which will create demand for the structural adhesives. One of the major disadvantages of structural adhesive is that it has low resistance to high temperatures. Therefore, it is risky to use structural adhesives in places where heat can be generated. Also, the aging of structural adhesives weakens the bond. The structural adhesives which sustain at high temperature and with high bond strength are expected to have a lucrative opportunity in the near future.
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On the basis of product, the structural adhesive market is bifurcated as acrylic, urethanes, epoxy, cyanoacrylic and others (silicone, anaerobic, methacrylates). Urethanes are projected to have momentous demand in the forecasted period. The products made from urethanes are having their applications in the automotive and construction market, which is expected to propel the urethanes market in the forecasted time.
In addition to this, in terms of the technology market is classified as solvent-based, water-based and others. The stringent regulations in North America and Europe by the government authorities are limiting the growth of solvent-based adhesives. In order to keep a cope with the existing regulations, manufacturers are likely to get shifted to the water-based adhesives.
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Moreover, according to the application, the structural adhesive market is bifurcated as furniture, transportation, consumer appliances, construction and others (medical devices, industrial machinery, packaging). It is expected that transportation is expected to create significant demand in the forecasted period owing to demand generated by the automotive, and shipbuilding.
According to the region, the market is bifurcated such as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The Asia Pacific is a prominent revenue-generating region that accounted for around 50% of the total market in 2019. The high population concentrated in the Asia Pacific region is expected to increase the consumption of structural adhesives in the forecasted period.
The leading players of the structural adhesives market include H.B. Fuller, Ashland Inc., Sika AG, Ried BV, Illinois tool works, Henkel AG & Co., Scott Bade Company, Lord Corporation, 3M Company, and Others.
This report segments the Structural Adhesive market as follows:
Global Structural Adhesive Market: By Product Segmentation Analysis
Acrylic
Urethanes
Epoxy
Cyanoacrylic
Others (Silicone, Anaerobic, Methacrylates)
Global Structural Adhesive Market: By Technology Segmentation Analysis
Solvent-based
Water-based
Others
Global Structural Adhesive Market: By Application Segmentation Analysis
Furniture
Transportation
Consumer Appliances
Construction
Others (Medical Devices, Industrial Machinery, Packaging)
Global Structural Adhesive Market: Regional Segmentation Analysis
North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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