Structural Adhesives Market size worth over $7bn by 2024
Published Date: August 12, 2019 Authors: Kiran Pulidindi, Soumalya Chakraborty
Structural Adhesives Market share will surpass USD 7 billion by 2024; according to a new research report by Global Market Insights, Inc.
Rapid development in global construction sector will propel the structural adhesives market demand during the study period. These specialty adhesives are extensively used for fiber composite materials, wood and cellulose materials, ceramics, glass and stone. Total construction spending in USA increased by over USD 250 billion between 2014 and 2018. During the same period, residential and non-residential construction spending in USA experienced a growth of over 40% and 15% respectively. Rising population, high standard of living, and increasing spending power are few factors augmenting the construction activities in the country.
Emerging economies in Asia Pacific region like China and India have raised their spending on infrastructure development and construction activities over the last few years. Favorable government initiatives and norms coupled with heavy investments are some of the major aspects prospering the development of construction sector in Asia Pacific region. Rapid urbanization, increasing population, and rise in disposable income will augment the housing demand in coming years. This trend will prosper the application of these specialty adhesives in construction industry in coming years.
Strict regulations related to aerospace adhesives and sealants, authorized by regulatory bodies like ASTM, SAE international, AITC, ANSI, DIN and ISO, coupled with occupational hazards allied with the product might hamper the structural adhesives market growth during the study period.
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Browse key industry insights spread across 180 pages with 277 market data tables & 12 figures & charts from the report, “Structural Adhesives Market Size By Component (Single, Double), By Product (Polyurethane, Epoxy, Acrylic, Cyanoacrylate, Methyl Methacrylate, Silicone), By Application (Composites, Metals, Plastics, Concrete & Tiles, Wood, Leather), By End-User (Automobiles, Aviation & Aerospace, Marine, Construction, Furniture, Water & Sewer), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Growth of double component category is propelled by its widespread usage for crucial and high load bearing joint applications. It will have more than half of the industry share during the forecast timespan.
Based on volume, epoxy product type had more than 25% structural adhesives market share. This product has the ability to adher to many materials, provides good strength, resistance towards creeping under load, provides resistance to chemical corrosion as well as has excellent temperature resistance.
Plastic application segment will have more than 20% share in the structural adhesives market throughout the study period. Rapid urbanization in today’s world has resulted in high dependency on materials that can bond plastics. Majority of products consist of plastic in some form or the other and these specialty adhesives are extensively used to upgrade mechanical and aesthetics characteristics by replacing rivets, welds, screws and nails in plastics. Plastic bonding can be reliably done with oily and contaminated surfaces by using the product.
Aviation & aerospace sector will have more than 4% growth rate throughout the study period. These specialty adhesives are extensively used in this industry owing to various positive characteristics such as high transition temperature, fast setting characteristics, superior durability and toughness, good compressive strength, cyclic fatigue resistance and excellent peel strength. Asia Pacific, the world’s fastest growing region in air travel, has witnessed significant development in aerospace industry in the last few years and will have an approximate growth of more than 5% in air traffic in the following two decades.
North America region will have substantial market share throughout the study period. Increasing construction activities coupled with highly mature aviation industry in the U.S. will propel the regional structural adhesives market share. Moreover, highly developed automotive industry, comprising of various automotive giants like General Motors, Bombardier and Ford in Canada and the U.S. will also augment the structural adhesive demand.
Key participants in structural adhesives market include Henkel AG, Arkema, 3M Company, L&L Products, Ashland, Lord Corporation, Dow Chemical Co, SIKA AG, Parson Adhesives and Scott Bader.
Structural adhesives industry research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2016 to 2024, for the following segments:
Structural Adhesives Market by Components
- Single component
- Double component
Analysis by Product
- Methyl methacrylate
- Concrete & tiles
Structural Adhesives Market by End-User
- Aviation & aerospace
- Water & sewer
The above structural adhesives market information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- South Africa