Catapulting Investments in Infrastructure to Position Structural Adhesives Market at US$ 28.2 Billion by 2032
Demand from Automotive and Aerospace Industries to Structural Adhesives Sales at 6.7% CAGR
The latest study by Fact.MR on the structural adhesive market provides a forecast for the forthcoming decade. The report further elaborates on significant trends such as drivers, challenges, and competitive scenarios dominant in the market. It presents this information across several segments that are classified based on resin type, application and region.
NEW YORK, Sept. 7, 2022 /PRNewswire/ -- The global structural adhesives market is expected to reach a valuation of US$ 28.2 billion by the end of 2032. Analysts anticipate the market will grow at a CAGR of 6.7% during the forecast period from 2022 to 2032.
Soaring investments toward building new infrastructure across the globe is the key factor driving growth in the structural adhesives market. These requirements will continue to increase in developing countries such as India and China. In the construction process, these adhesives are used for multiple purposes such as lamination, flooring, roofing, and others.
Structural adhesives are also highly sought-after among end users in the automotive industry as they have high load-bearing capacity, strength, and faster curing time. They are effective in joining vehicle parts including glass attachments, interior parts, doors, body panels etc. Moreover, structural adhesives also aid in keeping the vehicle light and lightweight cars are the need of the hour.
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Additionally, rapid expansion of aerospace sector is also likely to boost demand for structural adhesives. Leading aircraft manufacturing companies are continuously churning out new planes to meet their delivery timelines.
Some are already lagging in delivery timelines, so the demand from this sector is anticipated to burgeon over the forecast period. Structural adhesives are used for bonding composite parts of an aircraft as they provide better structural integrity and stronger joints. Fresh investments in the aerospace sector will drive the growth of structural adhesives market.
Key Takeaways:
- The structural adhesives market is projected to grow at a CAGR of 6.7% from 2022-2032.
- Europe is expected to account for the largest market share with a 31.6% share of the global structural adhesives market.
- North America holds the second position in terms of market share, and is estimated to make up 28.3% of the global market share in 2022.
- Based on resin type, epoxy structural adhesives are anticipated to witness a steady rise in demand because of their beneficial properties.
- Increasing demand from the automotive industry is expected to steer growth in the global structural adhesives market.
Growth Drivers:
- Rising adoption of structural adhesives for the construction of buildings and investments for improved infrastructure in developing countries to drive growth in the market.
- Sales of structural adhesives are slated to expand at a rapid pace in the aerospace industry, fueling growth.
Restraints:
- Structural adhesives are comprised of volatile organic compounds (VOCs), which are toxic and harmful to humans. This may limit adoption by certain industries.
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Competitive Landscape:
The dominant players in the structural adhesive market are investing heavily to reduce the presence of VOCs, in order to meet the required emission and environmental standards. Meanwhile, some of the other players are developing specialized structural adhesives to meet industry-specific requirements.
In the first half of 2022, Arkema's adhesive division, Bostik, introduced a new adhesive solution, which is part of its 'Responsibly for Hygiene' commitment. The new Nuplaviva i90 Hot-Melt Wetness Indicator is made with renewably-sourced content and is the third solution in the Nuplaviva series of adhesives.
Key Companies Profiled by Fact.MR:
- 3M Company
- Sika AG
- Henkel AG & Co. KGaA
- The Dow Chemical Company
- H.B.Fuller
- Scott Bader Co.
- Uniseal Inc.
- Huntsman Corporation
- Ashland Inc.
- Lord Corporation
- Illinois Tool Works Inc.
- Permabond LLC
- MAPEI
- Ardex
More Valuable Insights on Structural Adhesives Market
In the latest study, Fact.MR offers a detailed study on global structural adhesives market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of structural adhesives through detailed segmentation as follows:
By Resin Type:
- Epoxy Structural Adhesives
- Polyurethane (PU) Structural Adhesives
- Acrylic Adhesives
- Cyanoacrylate
By Application:
- Building & Construction
- Bus & Truck Manufacturing
- Aerospace & Defense Manufacturing
- Wind Energy Equipment Manufacturing
- Marine Equipment Manufacturing
- Rail Equipment & Components
- Others
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Structural Adhesives Market Report
- What is the projected value of the structural adhesives market in 2022?
- At what rate will the global structural adhesives market grow until 2032?
- Which are the factors hampering the growth in the structural adhesives market?
- Which region is expected to lead in the structural adhesives mixes market during 2022-2032?
- Which are the factors driving the structural adhesives market during the forecast period?
- What is the expected market value of the structural adhesives market during the forecast period?
Explore Fact.MR's Coverage on the Chemicals & Materials Domain
Flock Adhesives Market: The global Flock Adhesive market is projected to reach a valuation of US$ 4.6 billion by 2032, expanding at a CAGR of 5.5% through the forecast period of 2022-2032. Application of flock adhesives in paper, textile, and automotive sectors to join materials such as metals, plastics, and rubber is the primary factor driving the demand.
Pressure Sensitive Adhesives Market: Worldwide pressure sensitive adhesives market is estimated to reach US$ 93 billion, growing 1.8x from 2021 to 2031. As per Fact.MR's report, the e-commerce companies and other retailers are seeking pressure sensitive adhesives to improve their operations. Moreover, the food & beverage and pharmaceutical industries are also boosting demand for these adhesives.
UV Cured Adhesives Market: Demand in the UV cured adhesives market surged at a CAGR of 6.7% over the past half-decade. Growth in the market is underpinned by rising application in electronics and medical sectors.
Textile Adhesives Market: The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Check it Out More Reports by Fact.MR on Adhesive Industry
https://www.factmr.com/searches?q=adhesive
About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.
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