Structural Adhesives Market Size

Structural Adhesives Market Size

Structural Adhesives Market size will likely cross USD 7 billion by 2024 with gains at over 4% between 2016 and 2024 due to a unique ability to offer excellent bond strength and fast curing capability for both similar and dissimilar substrate in automobile industry.

The product is utilized to reduce the overall vehicle weight and improve the performance & safety. These specialty adhesives are used for exterior as well as interior applications in automobiles like hoods, doors, deck lid flanges, roof panels and interior dashboards. Development in spending capacity and rising living standards of the middle-class populace in emerging economies will propel the automobile market. Additionally, increasing awareness regarding the advantages of light weight vehicles and fuel economy will also have a positive impact on the structural adhesives market share throughout the forecast timeframe.

Another factor that will drive the structural adhesive demand is its extensive application in bonding airframes and aircraft & helicopter components. These specialty adhesives deliver high quality finish required for crucial applications in aircraft fabrication like bonding of honeycomb sandwich panels to provide rigidity to interior panels and weight reduction, core filling materials to provide reinforcement on primary substrates & structural components, etc.
 

Rising disposable income, increasing trend of global tourism, and reduction in air fares owing to intense competition among air liners has resulted in affordable air travelling which will propel the growth of aerospace industry throughout the forecast timeframe. Increasing military expenditure to manufacture highly maneuverable, lightweight, and heavily equipped fighter planes will also drive the product demand in near future. However, strict government regulations regarding adhesives and sealants used in aerospace industry might hinder the structural adhesives market in the forecast timeframe.