Global Structural Bonding Adhesives Market Expected to Reach USD 18,840.9 Million by 2028

According to a recent market study published by Growth Market Reports, titled, "Global Structural Bonding Adhesives Market” by substrates, technologies, resin types, applications, and regions: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at USD 12,958.8 Million in 2020 and is projected to reach USD 18,840.9 Million by 2028, expanding at a CAGR of 5.3% during the forecast period owing to increased demand from end-use industries such as construction, transportation, and furniture.

Demand for automobile plastics is boosted by the growing trend of lightweight materials. Plastic and aluminum are lightweight materials that assist automobiles to be light and fuel-efficient. Demand for structural adhesive products is expected to rise, due to increased adhesion requirements for materials such as steel, magnesium, and plastic.

Global Structural Bonding Adhesives market has been fragmented based on substrates, technologies, resin types, applications, and by region. In terms of substrates, the global structural bonding adhesives market is segmented into metal, composite, wood, plastic, and others. Based on technologies, the global structural bonding adhesives market is segmented into water-based, solvent-based, reactive adhesives, and others. In terms of resin types, the global structural bonding adhesive market is segregated into epoxy, polyurethane, acrylic, methyl methacrylate, cyanoacrylate, and others.

On the basis of applications, the global structural bonding adhesives market is segregated into transportation, construction, consumer appliances, furniture, industrial machinery, and others. Based on regions, the global structural bonding adhesives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The structural adhesives market is expected to grow rapidly, due to the unique ability to deliver great bond strength and fast curing capabilities for similar and different substrates in the automobile industry. The product is used to reduce total vehicle weight while increasing performance and safety. Structural bonding adhesives are employed in hoods, doors, deck lid flanges, roof panels, and interior dashboards for both external and interior applications in automobiles. These are major factors that are expected to boost the structural bonding adhesives market in the coming years. Additionally, rising awareness about the benefits of light-weight automobile and low carbon-emitting vehicles is expected to boost the market over the forecast period. 

As per Growth Market Reports industry analyst Divyanka Sankhe “Demand for green adhesives or those with low VOC is increasing, as the demand for eco-friendly or green products in various applications increases. The United States Environmental Protection Association (USEPA), Registration, Evaluation, Authorization, and Restrictions of Chemicals (REACH) in Europe, Leadership in Energy and Environmental Design (LEED) in the US, and other regional regulatory bodies have all pushed manufacturers to develop environmental-friendly adhesives with low VOC levels. As a result of these regulations, there is a growing tendency in the worldwide structural adhesives market for environmental-friendly or green buildings, which provides an opportunity for the development of green and sustainable adhesive solutions”.

The effect of COVID-19 pandemic situation has led to the closure of several non-essential businesses reducing the demand for industrial goods in the world, which in turn, is affecting several industries worldwide. Increasing R&D activities for developing new, cost-effective, and innovative products are expected to fuel market growth.

Key Takeaways from the Study

• The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period, due to growing electronics and automotive industry, which in turn, increased the need for structural adhesives in the region.
• The transportation segment is expected to expand at a significant CAGR during the forecast period, due to rising automobile, aircraft, and shipbuilding industries.
• The water-based segment is anticipated to hold a significant share of the market during the forecast period. Water-based adhesives are typically non-hazardous and environmental-friendly, as they contain no volatile organic compounds (VOCs). They have a high solid content, consistent binding, and are non-flammable.
• The epoxy segment is anticipated to hold a significant share of the market during the forecast period. Epoxy is the most commonly used structural adhesive, as it sticks to a variety of materials, has high strength, emits less volatile organic compound (VOC) during the curing process, and resists high load.

Report Scope

Target Audience

• Supply-side: Structural Bonding Adhesives products manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Drug Development Centers, Hospitals, Academic and Research Institutes, others.
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
• Associations and Industry Bodies: Food and Drug Administration (FDA), International Trade Centre (ITC), World Health Organization, United States Environmental Protection Association (USEPA), Registration, Evaluation, Authorization, and Restrictions of Chemicals (REACH), Leadership in Energy and Environmental Design (LEED) and Others.