Structural Adhesives Market and their growing penetration in automotive industry

A report by Global Market Insights, Inc., forecasts that the structural adhesives market is set to carve a profitable growth map, accounting for a valuation of USD 7 billion by 2024, given the product’s robust applications in construction, automotive, and aerospace sectors.

The business space of structural adhesives is witnessing a revolution over the past few years and this is rather evident through a recent investment initiative by one of the prominent structural adhesives industry leaders, PPG. The company in October last year announced investing a considerable amount in a 2,100 square foot automotive sealants and adhesives laboratory on its existing 42-acre manufacturing and research facility in Cleveland. As per reliable reports, the facility lays focus on producing and testing vivid varieties of structural adhesives, sealants, and other related products for distinctive automobiles like the passenger cars, SUVs, light trucks, and other commercial vehicles.

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This move has not only strengthened the company’ position in the overall structural adhesives market but has also prompted its rivals to introduce novel innovations in the field, so as to bolster the vertical’s reach in the global polymers and advanced materials industry.

Ongoing construction activities to produce a demand spurt for structural adhesives
Apart from the aerospace and automotive sectors, that have recently entered the structural adhesives business sphere, construction sector has been acquiring a significant share in the overall industry over the past decades. This can aptly be attributed to the increase in government spending on commercial as well as public infrastructure. In fact, as per IBEF and Union Budget 2019-2020, it was pronounced that India has been planning to spend USD 1.4 trillion towards the development of its infrastructure sector in the next five years. This initiative has indeed, raised the demand for structural adhesives in the nation.

Above that, expanding urbanization pertaining to the increased migrations has brought about an uncontrolled growth of residential buildings. Across these constructional applications, structural adhesives find unbound use in window panels, roofing, wall coverings, diverse office and home furniture, and much more.

Geographically, Asia Pacific has been anticipated to emerge as a hotbed for structural adhesives industry attributing to the rapid industrialization and urbanization. Besides, escalating demand for structural adhesives from furniture and construction industries across the region, led by China and India, are poised to lay positive impact on the market growth in the years ahead.

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Paradigm shift from conventional fasteners to structural adhesives in automotive industry: A potential trend

Automotive industry has positioned itself as one of the prominent sectors in the structural adhesives market as it is extensively deploying these adhesives for improving the performance and fuel economy of the vehicles, while reducing the toxic emissions from them. Moreover, the ability to bind composites to metals has become a prime requirement for the auto industry which is currently being furnished by the automotive adhesives.

More so, various automakers have been increasing the adoption of these adhesives to optimize their vehicle performances while allowing them to stand tall in the overall structural adhesives market space.

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Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
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Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.