Structural Adhesives Market Research Report, By Application, Region and Forecast to 2031
The global structural
adhesives market was valued at US$ 9,419.4 Mn in 2017. It is
anticipated to expand at a CAGR of 6.98% from 2018 to 2026, according to a new
research report titled ‘Structural Adhesives Market: Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by
Transparency Market Research (TMR) The global structural adhesives market
is driven by a rise in demand for structural adhesives from the building &
construction and wind energy sectors worldwide. In terms of demand, Asia
Pacific accounts for a dominant share of the global structural adhesives
market.
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Increase in Demand for Lightweight and Low-carbon Emitting
Vehicles and Aircraft are Driving the Structural Adhesives Market
The
automotive industry is continually working toward designing lightweight and
fuel-efficient vehicles that can reduce carbon dioxide emissions significantly.
Stringent regulations regarding carbon dioxide emissions are being imposed
worldwide. Structural adhesives play an important role in reducing carbon
dioxide emissions. They provide vehicles with structural strength.
They possess the ability to bond various surfaces together. Use of
structural adhesives makes vehicles lighter, quieter, and safer compared to
mechanical fastening methods such as welding, bolting, and soldering.
Structural adhesives are known to distribute load evenly across a surface,
resulting in better efficiency compared to mechanical fastening, which
generates local stress in parts joined. Currently, around 15 kilograms of
adhesives are used in an average car. This amount is likely to increase in the
next few years.
Structural adhesives are preferred for use in interiors,
exteriors, and engine compartments of aircraft, due to their advantages over
other types of adhesives. Structural adhesives carry higher weight loads and
improve uniform distribution of stress and strain across the joints. They also
maintain the integrity and strength of materials, as there is no hole, rivet,
or fastening element to weaken the structure. The above-mentioned factors are
projected to fuel demand for structural adhesives worldwide during the forecast
period.
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Asia Pacific Dominates Global Structural Adhesives Market
Based
on region, the global structural adhesives market has been classified into
North America, Europe, Asia Pacific, Middle East & Africa, and Latin
America. In terms of value and volume, Asia Pacific was a leading region of the
global market in 2017. The market in the region is anticipated to expand at a
rapid pace during the forecast period, owing to expansion in the automotive
& construction industry and presence of major manufacturers of structural
adhesives in the region. Europe and North America are significant consumers of
structural adhesives.
However, countries in the European Union are developing new
policies that compel manufacturers to produce bio-based adhesives in order to
reduce impact on the environment. These government policies are becoming
increasingly stringent for manufacturers of structural adhesives. The
structural adhesives market in Latin America is projected to expand at a
sluggish to moderate pace during the forecast period, as demand for structural
adhesives in these regions is anticipated to rise in the next few years, due to
an expansion in the automotive industry in these regions.
High Degree
of Competition among Players Operating in Structural Adhesives Market
The
degree of competition among players operating in the structural adhesives
market in the China is high, due to the presence of a large number of players
producing structural adhesives in the country. Key players operating in the
global structural adhesives market are Henkel AG & Co. KGaA, 3M, Sika AG,
Huntsman International LLC, Illinois Tool Works Inc., H.B. Fuller, Ashland,
DowDuPont, Bostik, and LORD Corporation.
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Automotive Segment to Lead Market
Based
on end-use industry, the global structural adhesives market can be divided into
automotive, building & construction, marine, aerospace, wind energy, and
others. The others segment includes sporting goods, electronics, and furniture.
Automotive was a highly attractive segment of the global structural adhesives
market in 2017, due to a rise in demand for structural adhesives for use in
recreational vehicles and lightweight vehicles. Structural adhesives are used
significantly in the automotive industry, as they can provide better adhesion
to distinct substrates such as steel and plastics.
Global Structural
Adhesives Market, by Type
·
Epoxy
·
Acrylics
·
Urethane
·
Cyanoacrylate
·
Others (Including Silicon, Vinyl Acetate, and
Anaerobic Adhesives)
Global Structural
Adhesives Market, by End-use Industry
·
Automotive
·
Building & Construction
·
Aerospace
·
Marine
·
Wind Energy
·
Others (Including Sporting Goods, Electronics,
Furniture)
Expansion of Product Portfolio in Aerospace Structural Adhesives
Generating Incremental Opportunities
Demanding
applications in the aerospace industry are generating incremental opportunities
for companies in the structural adhesives market. Aircraft structural
materials, engines, and parts require high-quality aerospace structural
adhesives to ensure a safe & reliable fleet for airline operators.
Applications such as lightning strike protection materials, metal bonding,
composite joining, and surface preparation end uses are translating into
value-grab opportunities for manufacturers.
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