Structural Adhesives Market is expected to grow at ~7.9% CAGR during 2016-2022

Market Synopsis of Global Structural Adhesives Market:
The Global Structural Adhesives Market grew to USD ~18.3 billion in 2016 with the CAGR of ~7.9% from 2016 to 2022. High demand of lightweight metals and composites in applications such as automotive, transportation, building & construction and furniture are expected to fuel the overall demand of Structural Adhesives in future. Structural Adhesive used in automotive are known for providing better adhesion between distinct substrates such as steel and plastics. Thus, these composites are used in doors, window glass attachments, brakes and clutch plates and others. On account of high demand for passenger car in countries like China and India, automotive industry requires adhesives with structural integrity and strong bonding properties that is expected to impact the Global Structural Adhesive Market growth.

Water based structural adhesive is largely used in rigid joiningsuch as furniture panels, automotive assembly, joint cements and household appliances. Stringent regulations of environment agencies regarding presence of volatile organic compound (VOC) in solvent based adhesives has positively complimented the water based structural adhesive. The Structural Adhesive Market is segmented into product types such as epoxy, acrylic, cyanoacrylate, urethanes and others. Urethane adhesive are priced less and are highly preferable with respect to elastic bonding in application such as automotive and construction. They possess properties such as high elasticity, durability and flexibility when used among dissimilar materials. These factors are expected to contribute towards growth of Structural Adhesives Market which has started since in forecasted period from 2016 to 2022. Cyanoacrylic Adhesives is expected to witness high growth owing to the properties such as low toxicity and faster setting. High industrial output along with its abovementioned properties will drive the growth of Cyanoacrylic Adhesives. Epoxy adhesives provides high strength and temperature resistance which are highly preferable to enhance the rigidity and reduce noise of automotive components such as turbine and blade. These factors are expected to drive the demand of Structural Adhesive Market in future.

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Asia Pacific accounts for the largest market share owing to rapid industrialization and growing demand from construction and furniture industries. China, India, Thailand and Indonesia are the fastest growing regions of Global Structural Adhesive due to government tax incentives, subsidies provided and easy availability of raw material and labor. North America is expected to witnessed a steady growth due to slow growth of industries post-recession and increase in consumer spending particularly in U.S. that will drive the demand of this market.

Market Highlights:
The global structural adhesive market is growing considerably due to increase in usage of plastics in automotive industry to reduce weight, enhance corrosion resistance and durability in order to increase fuel efficiency along with reducing carbon emissions that will propel the structural adhesive market growth. Automobile industry requires lightweight metals that has strong bonding properties between dissimilar substrates such as steel-plastic and steel-magnesium that are used in door panels, window-glass attachment, brakes and friction plates. Thus, booming automobile industry due to increase in demand for passenger car will contribute in growth of structural adhesive market in future.

Structural adhesive is segmented into product types, technology and application. On basis of product types, structural adhesive is segmented into epoxy, acrylic, urethane, cyanoacrylate and others. Urethane structural adhesive dominates the market demand owing to its low cost and properties such as high elasticity and durability which are extensively used in applications such as automobile and construction. These factors are expected to contribute to its demand over the forecasted year. Cyanoacrylic adhesive possess properties such as low toxicity and fast setting which will make it ideal for application in industrial machine tools, medical devices, household appliances and consumer goods. Moreover, these properties will fuel the growth of cyanoacrylic adhesive market in the coming years.

Based on technology, structural adhesive is segmented into water based and solvent based. Factors such as rapid drying rate, water resistant and semi-flexibility are favoring its usage in various bonding applications such as joint cements, wall covering, household appliances and automotive assembly. Strict environmental regulation regarding presence of VOC in solvent based adhesives has positively impacted the growth of water based adhesives. Government concern regarding exposure to harmful chemicals and volatility in raw material prices can hamper the market in future.

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Major structural adhesives applications include construction, transportation, automobile and furniture. Increasing plastic consumption in transportation industry such as automobile and aircraft is expected to boost the market demand of structural adhesive. Rapid industrialization and increase in government spending for improving public transport and infrastructure for the betterment of the society has anticipated to be the major driving factor of structural adhesives market. Changing lifestyle of consumer along with innovations in furniture designs are boosting the demand of the market in emerging economies like India, China and Mexico. Organic solvent based adhesives are used in medical devices and usage of this is growing drastically. Packaging and industrial machinery are anticipated to contribute to structural adhesive market’s demand till 2022 and it has started since 2016.

APAC is the largest regional market followed by North America and Europe. Asia Pacific exhibits highest market share due to increase in investment in building, construction and electronic appliances. Increasing automobile, furniture and construction industry in China, India, Indonesia and Thailand owing government tax incentives and low cost of raw material and labor is expected to favor the structural adhesive market growth. North America witnessed a moderate growth due to slow economic growth post-recession. Europe also witnessed a stable growth owing to economic problems such Brexit.

Key Points from Table of Contents:

11. Company Profiles

11.1 3M Company
11.1.1 Overview
11.1.2 Financials
11.1.3 Product Portfolio
11.1.4 Business Strategies
11.1.5 Recent Development

11.2 The Dow Chemical Company
11.2.1 Overview
11.2.2 Financials
11.2.3 Product Portfolio
11.2.4 Business Strategies
11.2.5 Recent Development

11.3 Ashland Inc.
11.3.1 Overview
11.3.2 Financials
11.3.3 Product Portfolio
11.3.4 Business Strategies
11.3.5 Recent Development

11.4 SIKA AG
11.4.1 Overview
11.4.2 Financials
11.4.3 Product Portfolio
11.4.4 Business Strategies
11.4.5 Recent Development

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