Structural Adhesives Industry Analysis and Future Scope

Global Structural Adhesives Market Size, Share, Growth and Future Scope

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Factors such as the swift shift of the transportation sector from traditional fasteners to structural adhesives and the surging number of infrastructure projects will help the structural adhesives market grow at a CAGR of 5.2% during the forecast period (2019–2024). According to P&S Intelligence, the market revenue will surge from $11,677.9 million in 2018 to $15,683.0 million by 2024. Additionally, the rising demand for electric vehicles (EVs), on account of the rising levels of vehicular pollution and mounting government support, will facilitate the market growth.

At present, the transportation industry is shifting from traditional fasteners to structural adhesives owing to the cost-effectiveness, eco-friendliness, exceptional aesthetics, lower differential expansion rates, and high fuel economy offered by the latter. Due to these advantages, a high volume of structural adhesives is being used in the production of high-structural-strength airplanes, ships, and automobiles. Additionally, structural adhesives serve as a protective inert barrier between corrosive metals and a natural watertight barrier in automobiles, airplanes, and ships.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/structuraladhesives-market/report-sample Thus, the booming EV sales act as a major growth driver for the structural adhesives market across the world. According to the International Energy Agency (IEA), 7,114,262 battery electric cars and 4,226,493 plug-in hybrid electric cars will be sold in 2025. EV battery assembly and related operations require such adhesives due to their high bonding strength. Additionally, the mounting production and rising advancements in electrical equipment, such as transformers, junctions, and transmission towers, will propel the demand for structural adhesives as they help in minimizing costs, weight, and assembly times.

Currently, companies operating in the structural adhesives market are taking strategic measures such as geographical expansions, product launches, and mergers and acquisitions to consolidate their position. For example, H.B. Fuller Company acquired Royal Adhesives & Sealants LLC for $1.6 billion in October 2017. With this acquisition, H.B. Fuller Company improved its specialty and high-value products used in the medical, construction, electronics, transportation, and renewable energy industries. Other key players taking such strategic measures include Henkel AG & Co. KGaA, DuPont de Nemours Inc., Arkema Group, and 3M company.

The type segment of the structural adhesives market is categorized into acrylic, epoxy, cyanoacrylate, polyurethane, and others. Among these, the acrylic category generated the highest revenue in 2018 due to the large application

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base of such structural adhesives. They are used in footwear, woodworking, building and construction, and do-it-yourself (DIY) applications due to their exceptional sheer and peel strength. Such materials bond well with metals and plastics in the aforementioned applications.

Globally, the Asia-Pacific (APAC) structural adhesives market generated the highest revenue during the historical period (2014–2018), and it is also expected to demonstrate the fastest growth during the forecast period. This can be primarily owed to the flourishing construction industry owing to the mounting infrastructure investments. Additionally, the expanding automotive, packaging, and manufacturing industries will fuel the demand for structural adhesives in the region. In APAC, China will account for the largest share due to the flourishing industrial and infrastructure sectors in the country.

Browse full report at: https://www.psmarketresearch.com/marketanalysis/structural-adhesives-market Thus, the growing preference for structural adhesives over traditional fasteners in the transportation industry and burgeoning EV demand will support the market growth in the foreseeable future.

Market Size Breakdown by Segment Based on Type •

Epoxy

•

Polyurethane

•

Acrylic

•

Cyanoacrylate

Based on Technology •

Solvent-Based

•

Water-Based

•

Solid Reactive

Based on Application •

Building & Construction

•

Aerospace

•

Automotive

•

Footwear

•

Do-It-Yourself (DIY)

•

Woodworking

•

Wind Energy

Geographical Analysis

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•

•

•

•

North America o

U.S

o

Canada

Europe o

Germany

o

U.K.

o

France

o

Italy

o

Belgium

Asia-Pacific o

China

o

Japan

o

India

o

South Korea

Rest of the World o

Brazil

o

Mexico

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