Structural Adhesives Market | Research Report, Global Industry Growth, Competitive Landscape, Development Status, Size, Share, Forecast To 2022


Posted October 15, 2020 by Marketresearchfuture

Structural Adhesives Market | Research Report, Global Industry Growth, Competitive Landscape, Development Status, Size, Share, Forecast To 2022
 
Structural Adhesives Market Overview:
The global structural adhesives market in 2015 was USD ~18.3 billion and is expected to grow at the CAGR of 7.9% between 2016 to 2022.
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.
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Global Structural Adhesives Market Players:
 3M Company
 The Dow Chemical Company
 Ashland Inc.
 SIKA AG
 Henkel AG & Co.
 Lord Corporation
 Scott Bader Company
 Arkema S.A.
 Hubei Huitian Adhesive Enterprise Co.
 Ried B.V. Co.
Segmental Analysis:
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.
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.
Regional Analysis:
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.
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Categories Biotech , Business , Construction
Tags Structural Adhesives Market
Last Updated October 15, 2020