Smart Innovations Are Acting As A Key Growth Factor For Structural Adhesives In 2021: Fact.MR

Market Overview
The demand for structural adhesives witnessed a strong decline in 2020 due to stringent rules and regulations imposed during the Covid-19 pandemic. Lockdown caused a postponement in structural adhesives production and deliveries. As the impact of the pandemic is getting down in 2021, the market players are focusing on stabilizing their position through continuation in their relentless efforts.

In 2021, shifting preferences from welding, rivets, and traditional fastening methods to advanced structural adhesives continue to boost the growing demands for structural adhesives in different sectors.

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Growing Investment in Infrastructure Development: A Key Driver for Structural Adhesive Demand
Growth in infrastructure and increasing government spending on construction and commercial buildings are expected to drive the demand for structural adhesive in the construction sector. Moreover, changing trends in furniture designs are likely to boost the demand further.

In recent years, the use of advanced adhesive technologies has become prominent in the construction sector. Development of processes and technologies for easy healing, recycling, and self-heal of the bonded structure is also gaining traction across the globe with a rise in modern infrastructure.

The demand for polyurethane adhesive is growing owing to the increasing demand for bonding of sheet molding compounds, plastics, and cryogenic applications. Meanwhile, the growth in the marine and transportation industry is driving the demand for methacrylate adhesives. Structural adhesives sales in the transportation industry are likely to increase owing to their ability to reduce weight, enhance composites' structural integrity and increase fuel efficiency.

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Asia Pacific Key to Structural Adhesive Market Growth
East Asia alongwith the South Asian and ASEAN cluster is likely to continue its dominance in the global structural adhesive market. The demand for structural adhesive is growing in India and China owing to the significant rise in the infrastructure and construction sector. India is likely to spend billions on the development of infrastructure. Meanwhile, countries across the globe are showing significant interest in investing in India, with a special focus on renewable energy, real estate, textile, and the automotive sector.

The major demand for structural adhesive in the Asia Pacific is likely to come from automotive, infrastructure, marine, and truck and bus applications. North America and Europe are also expected to witness significant growth in the structural adhesive market. The increasing use of a lightweight and small components in various sectors in the US is driving the demand for structural adhesives in the country.

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Structural Adhesives Market: Segmentation
The structural adhesives market can be segmented as follows:

By Resin Type, the market can be segmented as :
Epoxy
Polyurethane (PU)
Acrylic
Cyanoacrylate

By Application, the market can be segmented as :
Building & Construction
Bus & Truck Manufacturing
Aerospace and Defence Manufacturing
Wind Energy Equipment Manufacturing
Marine Equipment Manufacturing
Rail Equipment and Component
Other (Not Classified Elsewhere)

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