Structural Adhesives Market

The global structural adhesives market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing demand in the automotive and construction sectors.

Structural adhesives are the form of adhesives that are used to join materials such as thermoplastics, composites, metals, and others. Automotive, transportation, maritime, HVAC, wind energy, industrial assemblies, and construction are key industries that extensively utilize these solutions for various applications. These adhesives provide a variety of advantages over traditional fastening adhesives. Structural adhesives can also be defined as load-bearing adhesives owing to its ability to harden on the surface and solidify between two dissimilar surfaces.

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These adhesives can tolerate tremendous pressure for a long period but they become weak if they are subjected to a lot of vibrations, shock, or temperature changes. Structural adhesives offer a wide range of uses in a variety of sectors. Structural adhesives are used in aircraft manufacturing to bond metal and composite components along with extensive used to repair damages. These are also used in construction work for bonding drywall or fixtures to walls or ceilings and in the automotive industry to connect various parts without the need for welding in many components.

The COVID-19 outbreak has posed negative impact on the structural adhesives market due to imposed restrictions and enforced lockdowns by respective regulatory bodies, which resulted in disruption in demand and supply chain globally. The market is expected to recover soon as emergency lockdown is lifted by the government gradually across the globe.

Market Trends, Drivers, Restraints, and Opportunities

• Growing demand for various applications in the aerospace industry is expected to boost the market in the coming years.
• Increasing use of adhesive for binding in construction works and growing expansion of construction activities in developing countries are key factors driving the market.
• Strict regulations for eco-friendly materials along with increasing environmental and health concerns regarding the use of adhesives is anticipated to hinder the market expansion during the projected period.
• Different characteristic limitation related to several adhesives present a major challenge. This is anticipated to hamper the market growth in the projected period.
• Increasing demand for green, non-hazardous, and sustainable structural adhesives is projected to create significant growth opportunities for the market in the near future.

Scope of Structural Adhesives Market Report

The report on the global structural adhesives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Structural Adhesives Market Segment Insights

Construction segment to grow at a rapid pace

Based on end-users, the global structural adhesives market is divided into automotive, wind energy, construction, aerospace, and others. The construction segment is expected to grow at a rapid pace during the forecast period owing to rising use of structural adhesive to harden the surface and solidify between two dissimilar surfaces. However, the automotive segment is anticipated to hold a key share of the market in the coming years due to replacement of fasteners with adhesives, which helps in wide usage of the solution.

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Epoxy segment to expand at a considerable CAGR

On the basis of resin types, the market is segregated into polyurethane, methyl methacrylate, epoxy, acrylic, cyanoacrylate, and others. The epoxy segment is projected to expand at a considerable CAGR during the forecast period attributed to the ability to sustain heavy load. Additionally, other factors influencing its rising adoption include superior bonding power, sustainability to produce, heavy load-bearing, and excellent ability to bind several different kinds of surfaces. This is expected to drive the segment further.

North America to constitute a key market share

In terms of regions, the global structural adhesives market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to the expansion of the construction and manufacturing sectors across the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period attributed to the increased industrial output and economic growth of major economies in the region.

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Segments

The global structural adhesives market has been segmented on the basis of

End-users

• Automotive
• Wind Energy
• Construction
• Aerospace
• Others

Resin Types

• Polyurethane
• Methyl Methacrylate
• Epoxy
• Acrylic
• Cyanoacrylate
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• H.B. Fuller
• Henkel AG & Co. KGaA
• 3M Co.
• DuPont
• Arkema S.A.

Competitive Landscape

Key players competing in the global structural adhesives market are Henkel AG & Co. KGaA; DuPont; Arkema S.A.; H.B. Fuller; and 3M Co. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.