The global structural adhesives market size is expected to reach USD 22.47 Billion in 2028 and register a revenue CAGR of 5.8% over the forecast period, according to the latest report by Reports and Data. Rapid global structural adhesives market revenue growth can be attributed to rising demand for structural adhesives from various end-use industries including, automotive, building construction, aerospace, and transportation. Rising need to meet stringent regulations and improve fuel efficiency in the automotive industry is driving steady demand for lightweight materials and increasing usage of mixed materials in automotive design and applications. Rising utilization of mixed materials is also resulting in increasing demand for structural adhesives. The use of adhesive-bonded mixed materials is expected to make a double contribution to light weighting in the automotive industry. The utilization of structural adhesives helps in overcoming the potential downsides of combining mixed materials, which includes prevention of galvanic corrosion between dissimilar metals. Structural adhesives also offer aesthetic advantages with cleaner lines and no rivets, protruding nails, or weld marks, which helps in creating better look and more efficient product builds.
Major players in the market include Henkel AG Co. KGaA, Sika AG, 3M, DuPont de Nemours, Inc., Huntsman International LLC., Illinois Tool Works Inc., Arkema, B. Fuller Company, Ashland Global Specialty Chemicals Inc., and Cabot Corporation.
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Manufacturer like Henkel, 3M and H.B. Fuller Company are increasingly investing in research and development activities for production of structural adhesives that promote cost saving and efficiency without compromising on strength, aesthetics, or impact resistance. The launch of two LOCTITE Universal Structural Bonders by Henkel is expected to create repair solutions and limitless design in industrial applications. The new products combine instant bonding qualities and structural bonding reliability, durability, and strength, which is helping in transformation across the manufacturing industry.
Some Key Highlights From the Report
- In September 2020, Arkema announced the inauguration of a new world-scale industrial adhesives plant in Japan. The new capacities is expected to help Bostik serve its Japanese customers in growing markets of transportation, labelling, electronics, and packaging. The investment in projected to help Bostik in its growth and geographical expansion strategy.
- Epoxy segment is expected to account for largest revenue share in the global structural adhesives market over the forecast period owing to its increasing usage in automotive, industrial, and aerospace applications. The high chemical and thermal resistance coupled with minimum shrinkage and cohesive strength is resulting in its increasing usage.
- Water-based segment is expected to register robust revenue growth over the forecast period. Growing awareness regarding environmental degradation is also contributing to rising demand for water-based structural adhesives as these are eco-friendly, non-hazardous, and contain no VOCs.
- Building construction segment is expected to account for a considerably large revenue share in the global structural adhesives market owing to rising investment by governments in commercial buildings and public infrastructure.
- The structural adhesives market in Asia Pacific is expected to account for largest revenue share over the forecast period. Rapid urbanization and industrialization and increasing constructional activities in developing countries such as China, India, Vietnam, and Indonesia is expected to support revenue growth of the Asia Pacific structural adhesives market during the forecast period.
For the purpose of this report, Reports and Data has segmented the global structural adhesives market based on resin type, technology, application, and region:
Resin Type Outlook (Revenue, USD Billion; 2018-2028)
- Methyl Methacrylate
Technology Channel Outlook (Revenue, USD Billion; 2018-2028)
Application Channel Outlook (Revenue, USD Billion; 2018-2028)
- Building Construction
- Wind Energy
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Questions Addressed in the Structural Adhesives Market Report:
- What revenue CAGR is the global market expected to register over the forecast period?
- What was the global Structural Adhesives market size in 2020?
- What is the expected market size of the global Structural Adhesives market during the forecast period?
- What are the key factors that are expected to drive growth of the global Structural Adhesives market throughout the forecast period?
- Who are the key players operating in the global Structural Adhesives market?
- Which regional market is expected to dominate other regional markets in the global Structural Adhesives market?
- What are the key restraints projected to hamper global market growth over the forecast period?
- What are the key outcomes of 5 force analysis of the global Structural Adhesives market?
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