Market Size
The global structural adhesives market reached US$ 17,846.2 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 23,766.0 million by 2031 The market is expected to exhibit a CAGR of 3.7% during the forecast period (2024-2031).
A structural adhesive is a substance that binds components together to create bonds with high strength, high modulus and permanent nature. Within the parameters of the design, it must be able to transmit structural stress without losing structural integrity. As a result, it significantly supports the structural integrity of constantly stressed assemblies during their anticipated service lives in rather harsh service conditions. Structural adhesives are of various types, such as epoxy, polyurethane, cyanoacrylate and acrylic.
Market Summary
| Metrics | Details |
| CAGR | 3.7% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Type, End User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rising demand for structural adhesives in automobile manufacturing
The key players have increased their investments in the structural adhesives market as a result of the increasing use of structural adhesives in the automotive sector, which has boosted the product's market share. For instance, DELO introduced a structural adhesive for hybrid car batteries in 2021. The thermally conductive adhesive DELO-DUOPOX TC8686 was developed for high-volume serial manufacturing.
DELO-DUOPOX TC8686 is currently being used to assist the company’s growth. The low-voltage batteries found in hybrid vehicles work particularly well with DELO-DUOPOX TC8686 as it allows for the binding of battery cells to the battery casing by successfully dispersing heat generated during use.
Increasing construction activities
Large glass panes are bonded to the building's frame using structural adhesives, giving the building a decorative structure. As high-rise building construction increases, so does the demand for structural adhesives. Comparing structural adhesives to more conventional methods of installing glass panes, like screws and bolts, has several advantages, including better thermal efficiency and less energy use.
Environmental Concerns
The environmental impact of structural adhesives has become a growing concern for many industries and consumers. The use of adhesives can result in emissions of volatile organic compounds (VOCs), hazardous air pollutants (HAPs) and greenhouse gases (GHGs) during manufacturing, application, and disposal. The emissions can contribute to air pollution, ozone depletion and climate change, which can have negative effects on human health and the environment.
As a result, many governments and regulatory agencies around the world have implemented stricter regulations and guidelines for the use and disposal of adhesives. For example, the European Union's REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) regulation restricts the use of certain chemicals in adhesives and requires companies to provide information on the safety and environmental impact of their products. In the U.S., the Environmental Protection Agency (EPA) regulates the use and disposal of adhesives under the Clean Air Act and Clean Water Act.
Market Segment Analysis
The global structural adhesives market is segmented based on type, end user, and region.
The cohesiveness and adherence of acrylics
The acrylic adhesives segment is expected to witness significant growth over the forecast period. Acrylic adhesives are two-part resin-based glues made of acrylic or methylacrylic polymers (also known as methylmethacrylate, acrylate, or MMA). It is very strong and resistant to environmental damage, and excellent at binding things together.
Acrylic sealants are the industry standard for strength. The primary reasons for it are its cohesion and adhesion properties. Moreover, it is available in a variety of viscosities, cure temperatures, cure periods, and other special characteristics.
Market Geographical Share
The rapid growth of manufacturing and construction industries in Asia-Pacific
Asia-Pacific is expected to witness substantial market growth in the global structural adhesives market over the forecast period. This is owing to the region's booming manufacturing and construction sectors. Another factor boosting the market growth is the rising demand for structural adhesives from the local automotive industry.
In automotive uses like bonding panels, body frames, and engines, structural adhesives are frequently used because they offer high strength and stiffness, reduce weight and boost fuel economy.
Market Companies
The major global players in the structural adhesives market include 3M, Scott Bader Company Ltd, LORD Corporation, Henkel AG & Co. KGaA, Dow, Cabot Corporation, Ashland, Riëd B.V, SIKA AG, and H.B. Fuller.
Key Developments
- According to a Scott Bader announcement, Elixir and Scott Bader collaborated to offer Crestabond structural adhesives throughout India. The collaboration was announced on October 11, 2022.
- On August 31, 2021, Ashland LLC, an entirely owned company of Ashland Global Holdings Inc., formally agreed to sell Arkema, its performance adhesives business, for about US$ 1.65 billion.
- Sika decided to purchase The Yokohama Rubber Co., Ltd.'s Hamatite adhesives division on April 28, 2021. Hamatite is a top producer of adhesives and sealants for the automotive and construction sectors in Japan.
Why Purchase the Report?
- To visualize the global structural adhesives- market segmentation based on type, end user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of structural adhesives market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global structural adhesives market report would provide approximately 53 tables, 51 figures and 206 pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
