Market Size - USD 14.42 Billion in 2020, Market Growth - at a CAGR of 5.8%, Market Trends - Rising demand for sustainable structural adhesives
New York, New York--(Newsfile Corp. - July 21, 2021) - Global structural adhesives market size is expected to reach USD 22.47 Billion in 2028 and register a revenue CAGR of 5.8% during the forecast period, according to the latest report by Reports and Data. Rapid global structural adhesives market revenue growth can be attributed to increasing construction activities and smart city projects in developing countries. Governments of various countries are increasingly investing in development of more enhanced commercial buildings and public infrastructure is expected to drive demand for structural adhesives.
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Structural adhesives are utilized in the construction industry for structural applications such as bonding of ceramic tiles to concrete, concrete to concrete, construction panels, masonry, sealing metal parts into concrete, outside doors, composite bonding, civil engineering, structural glass and metal bonding. Structural adhesives have applications in various industries including design and assembly, production and manufacturing, commercial vehicles, electrical machinery, process industries, and component manufacturing as these offer good chemical, temperature, and moisture resistance. Companies such as 3M offers a wide range of epoxies that are built on legacy Scotch-Weld chemistry pioneered and trademarked for composites over 30 years ago. 3M Scotch-Weld Epoxy Adhesive offers good fatigue performance and has the ability to withstand automotive E-coat and powder-coating temperatures.
Rising demand for more sustainable structural adhesives is expected to also drive growth of the structural adhesives market during the forecast period. Major players like 3M, Henkel, H.B. Fuller Company, Ashland Global Specialty Chemicals Inc., and Arkema are increasingly investing in the production of eco-friendly structural adhesives with low VOC levels in order to comply with stringent regulations.
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Some Key Highlights from the Report
- In June 2019, Henkel announced the launch of a new manufacturing facility in Spain, which is solely dedicated to aerospace products. Germany-based Henkel has been supplying structural adhesives and surface treatment solutions to aircraft manufacturers and equipment suppliers for several years. The company launched the new manufacturing facility in order to meet growing demand for high-performance solutions in the aerospace industry owing to major focus on incorporating light weighting materials and to enhance fuel efficiency and automation.
- Cyanoacrylate segment revenue is expected to register a rapid growth rate over the forecast period. Cyanoacrylate is widely utilized in industry machinery, medical devices, consumer goods, household appliances, automotive electronics, and construction applications owing to non-flammable, solvent-free, and environmentally safe advantages, and are formulated with 100% solid material, which significantly reduces fire risks during the manufacturing process.
- Water-based segment is expected to register robust revenue growth over the forecast period. Manufacturers are increasingly investing in production of water-based structural adhesives in comparison to solvent-based in order to comply with stringent regulation regarding minimization of VOC emissions.
- Wind energy segment revenue is expected to expand significantly over the forecast period owing to rising utilization of structural adhesives as bonding components in wind turbine blades.
- The structural adhesives market in Asia Pacific is expected to account for largest revenue share over the forecast period. Government initiatives and private-public collaborations for development of enhanced commercial buildings and public infrastructure is expected to boost growth of the structural adhesives market in the region.
Some 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, H.B. Fuller Company
- Ashland Global Specialty Chemicals Inc.
- Cabot Corporation.
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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)
- Polyurethane
- Epoxy
- Cyanoacrylate
- Methyl Methacrylate
- Acrylic
- Others
- Technology Channel Outlook (Revenue, USD Billion; 2018-2028)
- Water-based
- Solvent-based
- Others
- Application Channel Outlook (Revenue, USD Billion; 2018-2028)
- Automotive
- Building & Construction
- Wind Energy
- Aerospace
- Others
- Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
- North America
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