Structural Adhesives Market, By Product (Urethanes, Epoxy, Acrylic), Technology (Water Based, Solvent Based, Others), Application (Transportation, Construction, Consumer Appliances, Furniture), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Africa, and the South America) – Market Size & Forecasting to 2028

The global structural adhesives market size is predicted to succeed in USD 23 billion by 2028, expanding at a CAGR of 6.4% from USD 14 billion in 2019, over the forecast period. Increasing production of vehicles and aircraft are anticipated to spice up the expansion of the market. 

Replacement of fasteners with advanced adhesives is anticipated to open new market opportunities for vendors over the approaching years. Fabricators in aerospace, automotive, wind energy, marine, and other industrial sectors are likely to shift to bonding products within the future. Moreover, the utilization of those products in industrial applications is additionally beneficial within the reduction of cost and fast cycle time.

Sustainability is another major drive within the global structural adhesives market. Adhesives are increasingly getting used to make lightweight cars to scale back fuel emissions and to construct energy efficient buildings, which are expected to spice up demand for bio-based polymers extracted from renewable resources.

International organizations like the U.S. Environmental Protection Agency (EPA) and also the Food & Drug Association (FDA) have laid down specific regulations and guidelines for structural adhesive production. OTC RACT rule in North America regulates common pollutants that negatively impact the ozonosphere, environment, and human health; it's also increasingly targeting VOC emission limits on a variety of ultimate products.

Specific products for marine, industrial, and wind blade applications are now being developed by many companies. For example, UK based Gurit is concentrated on the assembly of adhesives, which are primarily used for infusion and hand layup processes for epoxy-based composites. Yacht building is another niche segment application where positive demand for products has been observed in recent years.

Increasing development of latest products is driving market growth. Manufacturers are focused to beat formulating and technical challenges. This has pushed the utilization of latest designs and materials in industrial manufacturing. Increased demand for bonding with the need of flexibility and strength is gaining prominence within the automotive industry. There's also a requirement to scale back the vibrations and noise within the automobiles, which may further boost the products demand within the sector. Large assemblies in buses and commercial trucks also are projected to contribute to industry growth.

Key Insights of Structural Adhesives Market:

  • In terms of revenue, urethanes held highest market share in 2019. the expansion during this segment is attributed to increasing demand of plastics in automotive and other industrial sectors
  • In terms of volume, cyanoacrylic segment is projected to grow at a highest CAGR during forecast period. High industrial output from end-use industries is fueling the demand for this segment
  • In terms of volume, water-based adhesive accounted for majority of share in 2018. Growing got to reduce the VOC emissions has boosted the demand for water-based products
  • Asia Pacific was leading region in 2019. the expansion of the region is attributed to expansion of end-use industries in India and China
  • In terms of revenue, Europe is projected to grow at a significant CAGR from 2019 to 2028 on account demand from aerospace and automotive industries
  • Some of the key players present within the structural adhesives market are 3M Company, DOW, Sika AG, Henkel AG & Co and Ashland Inc. Many players are into development of latest products for niche categories. Increasing R&D expenditure to further boost the demand for competition within the industry

The Structural Adhesives market segmentation is based on Product, Technology, Application, and Region.

Product Outlook:

Based on product, the structural adhesive market has been categorized into acrylic, epoxy, urethanes, cyanoacrylic. Urethanes held highest market share in 2018 and anticipated to witness a prominent growth over subsequent seven years. Urethane products have wide applications in plastic bonding in construction and automotive. The demand for plastics is observing incessant growth in several end-use industries. As per PlasticsEurope, production of plastics rose to 64.4 million tons in 2017 from 60 million tons in 2016. Properties like low toxicity and fast setting rate of cyanoacrylic products is projected to help the increasing demand. These properties enable their use in applications like medical devices, industrial machinery, household appliances and commodity. High production output from aforementioned applications is projected to make a positive impact on the market.

Technology Outlook:

Water based technology held the very best structural adhesives market share in 2019 and is anticipated to take care of its position during the forecast period. Water based products are environment-friendly and economically viable and have wide bonding application in leather, wood, paper, and textiles. In terms of volume, solvent based products are forecast to grow at a CAGR of 5.7% over subsequent seven years. Increasing got to lower the volatile compound (VOC) emissions during manufacturing is anticipated to hinder the market growth for these products. VOC emissions even have a harmful effect on human health, therefore, are strictly regulated by EPA and European Union legislation. Increasing penetration of reactive and other technologies is creating a positive impact on the market. Reactive product forms a permanent bond and offers resistance to heat, chemicals, and moisture. Enhanced durability and better bond strength in extreme environments of products are likely to profit the industry growth during the forecast period.

Application Outlook:

Transportation application is projected to witness lucrative growth on account of the expansion of automotive, aerospace, and shipbuilding sectors. Replacement of fasteners with adhesives can simplify the assembly process for automakers. Moreover, reduction of fasteners can help manufacturers to scale back the vehicle weight, in turn, improving fuel efficiency. The development of polyester-based and epoxy products has widened their scope within the housing industry. Rising housing needs for the population is one among the key drivers for the market. In construction, adhesive finds application in joining substrates like glass, dense concrete, metals, plastic and hardwood among others. The products utilized in consumer appliances must be capable to face up to high temperatures. Many appliances also witness moisture exposure, vibrations and warmth. Elastomeric products can help to beat the aforementioned challenges in appliances like microwaves and cooktops.

Regional Outlook:

Asia Pacific was the leading region and accounted for majority of the general volume in 2019. High population and economic process and increased industrial output in India, China, and Southeast Asia are key growth factors for the region. China is projected to stay key consumer and producer within the region. In terms of revenue, Europe is projected to achieve a lucrative CAGR of 4.0% during the forecast period on account of the assembly of vehicles in Germany, France, Italy, and Spain. Increasing bonding requirements for substrates like glass, plastics, metals, and composites during automobile manufacturing is projected to help the expansion within the region. The expansion is especially attributed to the expansion of the development and manufacturing sectors in Brazil and Argentina. Moreover, as per the UNCTAD 2018 report, FDI inflows in Brazil and Argentina increased by 10% due to the top of a recession.

Competitive Landscape

Market vendors are targeting advancement in adhesives through the event of materials with desired molecular properties. Improvement in bonding strength is anticipated to stay a key focus area for the market vendors. A number of the businesses within the market are vertically integrated and this helps them to realize a competitive edge over other players. Partnership agreements and technological advancement are expected to drive competition within the industry. A number of the players in this sector include The Dow Chemical Company, 3M Company, Sika AG, Henkel AG & Co., Lord Corporation, Ashland Inc., Scott Bade Company and Ried BV.

This report also includes the profiles of key Structural Adhesives market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new Structural Adhesives launch, new Structural Adhesives developments, and other latest industrial developments.

Key Developments in structural adhesives market:

  • In September 2018, Industrial adhesive manufacturer DELO developed a new adhesive that achieves up to three times the strength of its predecessor products at high temperatures. DELO MONOPOX HT2860 can also be inductively cured, which significantly accelerates manufacturing processes. Among other applications, the epoxy resin is used in electric motors.

What Does This Report Provide?

This report provides a detailed understanding of the global Structural Adhesives market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Product

  • Urethanes
  • Epoxy
  • Acrylic

By Technology

  • Water Based
  • Solvent Based
  • Others

By Application

  • Transportation
  • Constructiond
  • Consumer Appliances
  • Furniture

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Product
    • By Technology
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Product
    • By Technology
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Product
    • By Technology
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Product
    • By Technology
    • By Application
  • Middle East & Africa
    • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
    • By Product
    • By Technology
    • By Application
  • South America
    • By Country (Brazil, Argentina, Colombia, Rest of South America)
    • By Product
    • By Technology
    • By Application

Reasons to Buy This Report:

  • Market size estimation of the Structural Adhesives market on a regional and global basis
  • Unique research Usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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