Press release
Structural Adhesives Market Size, Revenue, Comprehensive Research Study, Demand, Growth, Segmentation and Forecast to 2024
At present, the transportation industry is shifting from traditional fasteners to structural adhesives owing to the cost-effectiveness, eco-friendliness, exceptional aesthetics, lower differential expansion rates, and high fuel economy offered by the latter. Due to these advantages, a high volume of structural adhesives is being used in the production of high-structural-strength airplanes, ships, and automobiles. Additionally, structural adhesives serve as a protective inert barrier between corrosive metals and a natural watertight barrier in automobiles, airplanes, and ships.
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The type segment of the structural adhesives market is categorized into acrylic, epoxy, cyanoacrylate, polyurethane, and others. Among these, the acrylic category generated the highest revenue in 2018 due to the large application base of such structural adhesives. They are used in footwear, woodworking, building and construction, and do-it-yourself (DIY) applications due to their exceptional sheer and peel strength. Such materials bond well with metals and plastics in the aforementioned applications.
Globally, the Asia-Pacific (APAC) structural adhesives market generated the highest revenue during the historical period (2014–2018), and it is also expected to demonstrate the fastest growth during the forecast period. This can be primarily owed to the flourishing construction industry owing to the mounting infrastructure investments. Additionally, the expanding automotive, packaging, and manufacturing industries will fuel the demand for structural adhesives in the region. In APAC, China will account for the largest share due to the flourishing industrial and infrastructure sectors in the country.
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Thus, the growing preference for structural adhesives over traditional fasteners in the transportation industry and burgeoning EV demand will support the market growth in the foreseeable future.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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