The global Structural Adhesives Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.
Global Structural Adhesives Market is slated to witness a lucrative surge over the years ahead, subject to its extensive end-use applications in automobiles, marine, water & sewer, construction, furniture, and aviation & aerospace sectors.
Exceptional bonding & light weight features coupled with the strong adhesion for dissimilar as well as similar substrates will impel the global market demand. According to Global Market Insights, Inc., “Structural adhesives industry value is anticipated to surpass USD 7 billion by 2024, growing at a CAGR of more than 4% over 2016-2024.”
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Reasons to Buy This Report:
1. Structural Adhesives Market size & share forecast by product & application 2016-2024
2. Growth drivers, pitfalls & industry challenges
3. Key Structural Adhesives Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
The differentiating factor of Structural Adhesives Market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook.
Considering the regional trends, Europe structural adhesives industry, which produced a revenue of over USD 1 billion in 2015, is expected to experience a notable surge over the coming timeframe. Large presence of reputed aviation & aerospace and automobile firms across the region will push the growth. APAC structural adhesives market revenue, worth USD 2 billion in 2015, is slated to display a remarkable growth over the years ahead. Thriving shipbuilding business along with high expenditure on construction activities will spur the revenue. China, Japan, India, and South Korea are likely to be the key regional revenue drivers.
Structural adhesives are also used in leather, composites, wood, concrete & tiles, metals, and plastics. Structural adhesives market share in the plastics sector, worth USD 1 billion in 2015, will grow at a rate of 4.5% over 2016-2024. The product’s exceptional plastic bonding capability will push the revenue. Composites application, which accounted for 30% of the overall share in 2015, is set to significantly drive structural adhesives industry revenue in the near future.
Structural adhesives industry in the automobile sector, having attained a revenue of USD 1 billion in 2015, is expected to witness a lucrative expansion in the future. The product’s ability to reduce the automobile weight and enhance the vehicle performance will boost the development. Aviation & aerospace applications are forecast to grow at a CAGR of 4% over 2016-2024, driven by the product’s ability to impart durability, compressive strength, high quality finish, and aesthetic value to the aircraft.
Cyanoacrylate, Polyurethane, Silicone, Epoxy, Methyl Methacrylate, and Acrylic are the key structural adhesives products. Acrylic structural adhesives industry, which produced a revenue of more than USD 1.5 billion in 2015, is expected to witness a high surge over the years ahead due to its ability to bond metals and plastic.
Asia Pacific will be a promising region in structural adhesives market in the forecast spell. India and China registered escalating construction spending through government initiatives and private investments. Many automobile giants are establishing their manufacturing base in emerging economies of Asia Pacific due to abundancy of cost effective labors.
Highly mature shipbuilding industries in China, South Korea, and Japan will also drive the regional market. Asia Pacific registered more than USD 2 billion for the overall structural adhesives market in 2015 and will flourish at a healthy rate in the coming years.
High constructional activities in the U.S., coupled with highly developed aviation industry will bolster the North America structural adhesives market. Moreover, the presence of several automotive giants such as Ford, Bombardier, and General Motors in the U.S. and Canada will also signify the product demand. North America accounted for over a fifth of the overall market up to 2024.
Structural adhesives market is moderately fragmented with major players in Europe and North America. Manufacturers indulge in mergers and acquisitions to increase their footprint to serve multiple and diverse market. They also focus on continuously expanding their product portfolio in order to meet specific customer demands. For instance, L&L Products introduced A-K540, a structural adhesive that provides robust and fast curing adhesion for low surface energy plastics.
Key manufacturers in structural adhesives market are 3M Company, Illinois Tool Works, Lord Corporation, Arkema, Scott Bader, SIKA AG, L&L Products, Dow Chemical Company, Ashland, Henkel AG, Master Bond, Panacol-Elosol, Elantas, Parson Adhesives, Hubei Huitian Adhesive Enterprise, and Permabond.
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