COVID-19 Analysis on Structural Adhesives Market, Development Trends, Key Manufacturers and Competitive Analysis 2022

Structural adhesives are adhesives capable of curing over time and acting as a cohesive agent between two substrates. The adhesives are able to distribute the stress between the materials without losing structural integrity. Applications in building & construction, furniture, transportation, and automotive sectors are likely to lead to its increased production. The global structural adhesives market report by Market Research Future (MRFR) looks at developments in adhesives as well as new technologies designed to increase the properties of adhesives. It contains drivers, trends, threats, and estimations for players for the period of 2016 to 2022 (forecast period).

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Market Scope

The global structural adhesives market is projected to exhibit a CAGR of 7.9% over the forecast period. It was valued at USD 18.3 billion and 2016 and bound for a gradual increase by the end of 2022. The use of adhesives in the automotive industry for joining components from steel and plastics can drive its demand exponentially. Large number of subsidies given to automotive companies can lead to their investments in units in developing economies and fuel the need for structural adhesives. Massive demand for passenger cars in China and India can act as a viable catalyst for growth.

Rapid investments in public infrastructure, development of commercial buildings, and renovation and refurbishment of old structures can fuel the demand for adhesives. Changing tastes of customers and penchant for modern designs can bode well for the market. Developments in adhesive formulations for improving their properties will be instrumental in increasing their demand. Composite materials require tougher adhesives to stay resistant to extreme temperatures. For this purpose, nano-silica particles are added to epoxy formulas to increase the mechanical and thermal strength.

But fluctuating raw material prices and environmental regulations pertaining to the environment can hamper the market growth.

Competitive Outlook

Arkema S.A., 3M Company, Ried B.V. Co., Lord Corporation, Scott Bader Company, Hubei Huitian Adhesive Enterprise Co., SIKA AG, Ashland Inc., The Dow Chemical Company, and Henkel AG & Co. are some of the notable players profiled in the global structural adhesives market.

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Segmentation

The global structural adhesives market is segmented by product type and application.

By product type, the global market is segmented by acrylic, cyanoacrylate, urethanes, epoxy, and others. Urethanes are expected to lead the market owing to their economic prices and high elastic strength. Properties of flexibility and durability for bonding dissimilar materials can fuel the segment growth. Cyanoacrylic adhesives can witness high growth due to rapid setting and low toxicity. Lastly, the epoxy structural adhesives segment can command a remarkable share of the market due to their temperature resistance and high strength used for lowering the noise in automobiles.

By application, it is segmented into furniture, transportation, automotive, building & construction, and others. The building & construction application can induce massive demand in the global structural adhesives market due to infrastructural needs in developed and developing economies. Applications in roofing, flooring, and lamination will require such adhesives. Moreover, investments in construction of airports, industrial buildings, and hospitals are predicted to evoke the demand in the market till 2023.

Regional Analysis

The global structural adhesives market has been studied with regard to four key regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

APAC accounted for the largest market share owing to constant demand from furniture and construction sectors and rapid industrialization. Thailand, Indonesia, India, and China can contribute heavily to the market due to sops and subsidies being provided to adhesive manufacturers.

North America accounted for a respectable market share owing to the slow growth of end-use industries and rise of consumer spending in the U.S.

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This release was published on openPR.