Structural Adhesives Market to Grow with a CAGR of 5.68% through 2028
Growing demand from the construction industry and increased
use in the automotive and aerospace industries are factors driving the Global
Structural Adhesives Market in the forecast period 2024-2028.
According to TechSci Research report, “Structural
Adhesives Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Structural Adhesives Market has
valued at USD 19.87 million in 2022 and is anticipated to project robust growth
in the forecast period with a CAGR of 5.68% through 2028.
Technological advancements have played a pivotal role
in the remarkable growth of the global Structural Adhesives market. These
adhesive solutions have evolved significantly, driven by innovations that have
not only improved their performance but also expanded their applications across
various industries.
One of the most notable technological advancements is
the development of high-performance structural adhesive formulations. These
adhesives now offer exceptional bond strength, durability, and resistance to
environmental factors, making them indispensable in critical applications such
as automotive and aerospace manufacturing. They provide the structural
integrity needed to replace traditional mechanical fasteners like bolts and
rivets, resulting in lighter and more fuel-efficient vehicles and aircraft.
Furthermore, the introduction of specialized
structural adhesive formulations tailored for specific materials, such as
composites and plastics, has broadened the range of applications. This
adaptability has enabled structural adhesives to be used in a wide array of
industries, from construction and electronics to marine and renewable energy.
The integration of nanotechnology into structural
adhesive development has also had a profound impact. Nano-engineered adhesives
offer enhanced bond strength at the molecular level, contributing to improved
performance and longevity. These adhesives can withstand extreme conditions,
making them ideal for demanding applications like space exploration and
offshore wind turbines.
Moreover, advancements in application methods and
equipment have revolutionized the efficiency of structural adhesive bonding
processes. Automated dispensing systems with precise control and monitoring
capabilities ensure accurate and consistent adhesive application, reducing
waste and improving overall production efficiency.
In conclusion, technological advancements have
elevated structural adhesives to new heights by enhancing their performance,
versatility, and efficiency. As industries continue to prioritize lightweight
materials, sustainability, and advanced manufacturing processes, the global
Structural Adhesives market is poised for sustained growth. The ongoing pursuit
of innovative solutions and the development of adhesives tailored to specific
industry needs ensure that structural adhesives will remain a vital component
of modern manufacturing and construction for years to come.
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The Global Structural Adhesives Market is segmented
into resin type, substrate, application, regional distribution, and company.
Based on the Resin Type, the epoxy segment emerged as the dominant
player in the global market for Structural Adhesives. Epoxy structural
adhesives are the most popular type of structural adhesive, due to their versatility,
strength, and vibration resistance. They are widely used in aerospace,
automotive, and industrial applications.
Urethane structural adhesives are also popular,
especially in the plastic and rubber industry. They are available in one- and
two-part varieties. Two-part urethane adhesives offer superior vibration
resistance and impact strength. Cyano-acrylic structural adhesives are one-part
adhesives that cure very quickly by reacting with moisture. They are ideal for
high-strength applications where rapid curing is required.
The Asia-Pacific region is poised to experience robust
growth during the forecast period. The Asia-Pacific region is the world's
largest market for structural adhesives, with China being a major consumer. In
2021, China's construction industry is expected to grow by 6%. The Chinese
government is also investing heavily in infrastructure, with 26 projects worth
$142 billion currently in progress.
China is also the world's largest manufacturer of
automobiles, and production is expected to continue to grow in the coming
years. This will drive demand for structural adhesives, especially in the
high-end vehicle manufacturing sector.
India is another major market for structural adhesives
in the Asia-Pacific region. India's construction sector is expected to become
the world's third largest by 2022, and the government is implementing a number
of policies to support the sector, such as the Smart Cities project and Housing
for all by 2022.
The automotive and aerospace sectors are also
significant users of structural adhesives in India. Vehicle production in India
increased by 30% in 2021 compared to 2020. All of these factors are expected to
contribute to strong demand for structural adhesives in the Asia-Pacific region
in the coming years.
Major companies operating in Global Structural
Adhesives Market are:
- Huntsman Corporation
- 3M Company
- H.B. Fuller Adhesives LLC
- Sika AG
- DuPont de Nemours Inc
- Bostik SA
- Ashland Inc.
- Lord Corporation
- Henkel AG & Co KGaA
- MAPEI Corporation
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“The global Structural Adhesives market is witnessing
substantial growth due to several key factors. Structural adhesives, renowned
for their high-strength bonding capabilities, are increasingly replacing
traditional fastening methods like welding and mechanical fasteners in various
industries, including automotive, aerospace, construction, and electronics.
One of the primary drivers of market growth is the
pursuit of lightweight and fuel-efficient materials in the automotive and
aerospace sectors. Structural adhesives contribute to weight reduction and
improved fuel economy, making them an integral part of modern manufacturing
processes.
Additionally, the construction industry's shift
towards energy-efficient and sustainable building practices has led to a surge
in demand for structural adhesives, which provide strong and durable bonds for
materials like composites, plastics, and metals.
Technological advancements have also played a pivotal
role in market expansion. Manufacturers are developing innovative formulations
that offer improved performance, greater flexibility, and enhanced durability.
These advancements cater to the evolving needs of various industries, further
propelling the growth of the structural adhesives market,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Structural Adhesives Market- Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented by Resin Type (Epoxy,
Polyurethane, Acrylic, Methyl Methacrylate, Cyanoacrylate, and Others
(Bismaleimide (BMI), Phenolic, Polyimide, And Silicone)), By Substrate (Metal,
Composite, Wood, Plastic, and Others (Leather, Glass, Ceramic, Concrete)), By
Application (Building & Construction, Automotive, Bus & Truck,
Aerospace, Wind Energy, Rail, Marine, and Others (Agricultural Machinery,
Sports Equipment, And Medical Devices)),
By Region and competition”, has evaluated the future growth potential of Global
Structural Adhesives Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Structural
Adhesives Market.
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