New York, United States , June 25, 2024 (GLOBE NEWSWIRE) -- The Global Structural Adhesives Market Size Expected to Grow from USD 13.41 Billion in 2023 to USD 22.83 Billion by 2033, at a CAGR of 5.46% during the forecast period 2023-2033.
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Structural adhesives, or load-carrying adhesives, are adhesives that may set on a substrate and preserve two distinct surfaces that are the same or different through surface contact. These adhesives are sensitive to shock, vibrations, and temperature changes, yet they efficiently preserve the bonded surfaces even after withstanding pressures for a substantial amount of period. The market for structural adhesives will get more traction as the transportation industry expands. Investments made in lightweight and efficient vehicles in the aerospace industry also have an impact on the country's use of structural adhesives. In the building and construction sector, structural adhesives are also used for a number of other tasks, including countertop lamination, carpet installation, ceramic tile restoration and plasterboard lamination. In the modern architecture and construction business, acrylic-based structural adhesives are gaining popularity due to their advantages such as greater adhesive strength, affordability, and appealing look. When taken as a whole, these factors raise the need for structural adhesives, which in turn drives market growth. However, the cost of producing flexible displays is higher than that of conventional displays due to the need for specialised materials and advanced procedures. This pricing factor is impeding market penetration and broad adoption.
Browse key industry insights spread across 199 pages with 110 Market data tables and figures & charts from the report on the " Global Structural Adhesives Market Size, Share, and COVID-19 Impact Analysis, By Product (Urethane, Epoxy, Acrylic), By Technology (Water-based, Solvent-based), By Application (Transportation, Construction), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The epoxy segment is expected to hold the largest share of the global structural adhesives market during the anticipation timeframe.
Based on the product, the global structural adhesives market is categorized into urethane, epoxy, and acrylic. Among these, the epoxy segment is expected to hold the largest share of the global structural adhesives market during the anticipation timeframe. It can also be used in automotive, aerospace, and other industrial applications due to its heat and chemical resistance, low shrinkage, and cohesive strength, which accelerates the expansion of epoxy-based structural adhesives.
The water-based segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the technology, the global structural adhesives market is categorized into water-based, and solvent-based. Among these, the water-based segment is expected to grow at the fastest CAGR during the anticipation timeframe. Structural adhesives based on water start as liquids and solidify as they evaporate. These adhesives are often made by mixing water, polymers, and additives. Adhesives based on water are very heat resistant.
The transportation segment is expected to hold a significant share of the global structural adhesives market during the anticipation timeframe.
Based on the application, the global structural adhesives market is categorized into transportation, and construction. Among these, the transportation segment is expected to hold a significant share of the global structural adhesives market during the anticipation timeframe. Structural adhesives are showing the required performance in transportation applications because of their ability to withstand thermal expansion and electrical conductivity.
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Asia Pacific is projected to hold the largest share of the global structural adhesives market over the anticipation timeframe.
Asia Pacific is projected to hold the largest share of the global structural adhesives market over the anticipation timeframe. China, Japan, India, and South Korea are all contributing to the growth of the Asia-Pacific market. The market is growing as a result of strong economic expansion, increased building activity, and rising disposable income. The greatest construction sector in the world is located in the Asia-Pacific region, and it is expanding quickly as a result of factors including population expansion, rising middle-class incomes, and urbanisation. As a result of the expanding home construction markets in China and India, the Asia-Pacific area is expected to experience the highest rate of housing expansion.
Europe is expected to grow at the fastest CAGR growth of the global structural adhesives market during the anticipation timeframe. The EU has established essential (legal) requirements that sellers must follow in order to gain access to the European market. The highly developed European aerospace sector creates aero engines, unmanned aerial vehicles, helicopters, high-class jets, and civil aircraft using precise hand tools. The increasing use of structural adhesives in the wind energy industry presents a significant opportunity for European vendors of these materials.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Structural Adhesives Market are Henkel AG & Co. KGaA, Sika AG, 3M, DuPont, Huntsman Corporation, Avery Dennison Corporation, Ashland Global Specialty Chemicals Inc, Lord Corporation, Arkema S.A., Scott Bader Co., and Other Key Vendors.
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Recent Developments
- On February 2023, Arkema is working with MultiMaterial-Welding, the licensor of Woodwelding® technology, and WW Technologies, a technology likening company, to create a novel fixation method utilising Rilsan® Polyamide 11. With the use of ultrasonic energy, WW technologies offer effective, economical, and environmentally friendly fixation solutions that create bindings in porous materials such sandwich panels, non-compatible polymers, and foams.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global structural adhesives market based on the below-mentioned segments:
Global Structural Adhesives Market, By Product
- Urethane
- Epoxy
- Acrylic
Global Structural Adhesives Market, By Technology
- Water-based
- Solvent-based
Global Structural Adhesives Market, By Application
- Transportation
- Construction
Global Structural Adhesives Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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