Global Structural Bonding Adhesives Market by Substrates, (Metal, Composite, Wood, Plastic, and Others), by Technologies, (Water-based, Solvent-based, Reactive Adhesives, and Others), by Resin Types (Epoxy, Polyurethane, Acrylic, Methyl Methacrylate, Cyanoacrylate, and Others), by Applications (Transportation, Construction, Consumer Appliances, Furniture, Industrial Machinery, And Others), and by Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Market Outlook:

The global structural bonding adhesives 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. Structural adhesives are developed to improve manufacturing processes and final products for a variety of composite, metal, and plastic components by forming bonding that support loads (via load-bearing joints) and are commonly referred to as a "load-bearing" adhesive. The product is subjected to shock, vibration, chemical exposure, temperature changes, and a variety of other potentially weakening or destructive forces while remaining connected.

Market Dynamics

Growing demand for structural bonding adhesives from several end-use industries

Structural bonding adhesives are sticky materials that are used to connect two surfaces. Structural adhesives are designed to improve production processes and end products for a wide range of composite, metal, and plastic components by generating load-bearing bonding. In the future, fabricators in the aerospace, automotive, construction wind energy, marine, and other industry sectors are anticipated to switch to bonding products. Furthermore, using these items in industrial applications saves money and allows for a fast cycle time. Another key driving force in the global structural bonding adhesives market is sustainability. Structural adhesives are critical in the construction industry, as they provide resilience to materials such as architectural membranes, caulks, wires and cable, and roofs. The market is expected to grow, due to increased use of structural adhesives in aerospace applications for weight reduction and improved bonding.

High Demand for Adhesives in Building & Construction and Wind Energy Applications

Infrastructure needs are growing in both developing and developed economies, due to growing urbanization, which is driving the structural bonding adhesives market. A large number of bonding products are required in construction applications such as flooring, laminating, and roofing. The market is expected to be fueled by infrastructure investment in airports, educational institutes, hospitals, industrial structures, and water infrastructure. New applications in the construction industry, including carpet adhesives, tiling adhesives, wallpapers, and exterior insulation systems, are driving the demand for structural bonding adhesives. The structural adhesives market is growing, due to increasing use of adhesives in wind turbine blades for bonding components such as rotor blades.

Strict Regulations by Various Governments

Strict government rules regarding sealants and adhesives used in the aircraft industry are expected to hamper the demand for structural bonding adhesives in the forecast period. Specific laws and criteria for structural adhesive production have been established by international organizations such as the United States Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA). In North America, the OTC RACT Rule regulates common pollutants that harm the ozone layer, the environment, and human health and is increasingly focusing on VOC emission limitations on a variety of final products. These factors are anticipated to hinder the market growth during the forecast period.

Different Characteristic Limitations of Various Adhesives

Mechanical qualities and features of structural adhesives differ from each other. Epoxies adhesives are used in rigid bonding, as they have a high shear strength, polyurethane is used in slightly flexible bonding, as it has high strength, and acrylic adhesives is used in hard to slightly flexible bonding, as it has high impact and fatigue resistance. Each type of adhesive has its own set of limitations. As a result, the type of adhesive to use is determined by the application. The type of adhesive to use is determined by the material to be bonded, the required strength, environmental conditions, and other factors. Materials used in the fabrication of airplanes require intense and extensive testing and adhesives that are heat-resistant, robust, moisture-resistant, and resist extreme weather conditions. As a result, the limitation associated with each adhesive limits the applications in which it is used.

Technological Advancements in Structural Bonding Adhesives

Increasing R&D and technological advancement in the structural bonding adhesive market is creating immense opportunities for the key players. Development of mechanical properties including high strength, high load-carrying capacity, high-temperature resistance, and fatigue resistance are driving its use in building and construction applications, which creates growth opportunities for the market. Recent advancements in the field of structural adhesives include the launch of ARALDITE 2000 Adhesive Core Range by Huntsman Advanced Materials in September 2020, which helps organizations increase productivity by up to 80%. The solution features nine high-performance adhesives that simplify product selection, save stock-keeping unit costs, and cut worker training time.

Increasing Number of Partnerships and Acquisitions

Increasing number of strategies such as mergers & acquisitions, agreements, partnerships, and product launches among companies to establish themselves as providers of structural bonding adhesives is anticipated to create lucrative opportunities in the market in the near future. Rising adoption of various strategies including the development of low-temperature-cured, water-based structural adhesives by market players to increase their presence and share in the market is expected to create growth opportunities in the market.

Segmental Outlook

By Substrates Segment

Based on substrates, the global structural bonding adhesives market is segmented into metal, composite, wood, plastic, and others. The composite segment is anticipated to hold a significant share of the market during the forecast period, owing to its increasing application in automotive and aerospace industries to replace metal parts and reduce overall weight. These specialty adhesives are known for their ability to adhere to a variety of substrates, including plastics, metal, composite, and wood, without requiring mechanical joining techniques such as fasteners, which lead to mechanical failures. The plastic segment is expected to hold a substantial share of the market during the forecast period, due to its increasing usage in automobile sector to reduce the weight of vehicles.

By Technologies Segment

Based on technologies, the global structural bonding adhesives market is segmented into water-based, solvent-based, reactive adhesives, and others. The solvent-based segment is expected to hold a substantial share of the market during the forecast period, due to its excessive use in different manufacturing industries for its high bond strength properties. Solvent-based adhesives are used in a wide range of applications in different industries such as aircraft, automobile, and construction.

By Resin Types Segment

In terms of resin types, the global structural bonding adhesive market is segregated into epoxy, polyurethane, acrylic, methyl methacrylate, cyanoacrylate, and others. Epoxy structural adhesives are strong and have good mechanical, thermal, and electrical qualities. Need for high-performance epoxy resin adhesive increased in North America, particularly for automotive, aviation, industrial maintenance, and concrete coatings applications.

By Applications Segment

On the basis of applications, the global structural bonding adhesives market is segregated into transportation, construction, consumer appliances, furniture, industrial machinery, and others. The transportation segment is expected to expand at a significant CAGR during the forecast period, due to rising automobile, aircraft, and shipbuilding industries. Fasteners are replaced with adhesives to make the assembling process easier for automakers. Furthermore, reducing fasteners assists manufacturers in reducing vehicle weight, which improves fuel efficiency. The construction sector benefited from the introduction of polyester-based and epoxy products. One of the main drivers of the market is the need for houses by the growing population. Adhesives are used in construction to combine substrates including glass, dense concrete, metals, plastic, and hardwood, among others.

Region Wise Outlook

Based on regions, the global structural bonding adhesives market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 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 market in countries such as India, China, and Southeast Asia has rapid population and economic growth, as well as rising industrial production. China is expected to continue to be a significant consumer and producer in the region. The market in regions such as North America and Europe is estimated to expand at a substantial CAGR during the forecast period, due to increasing automotive, healthcare, and aviation industries with increasing urbanization in the region.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Structural Bonding Adhesives Market
• Historical, Current and Projected Market Size in terms of Value
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Structural Bonding Adhesives Market Performance

Segments

• Metal
• Composite
• Wood
• Plastic
• Others

• Water-based
• Solvent-based
• Reactive Adhesives
• Others

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

• Transportation
• Construction
• Consumer Appliances
• Furniture
• Industrial Machinery
• Others

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

• 3M
• Ashland
• Arkema
• DELO
• DuPont
• Henkel AG & Co. KGaA
• HERNON MANUFACTURING INC
• Adhesives Technology Corporation
• Huntsman International LLC
• ITW Performance Polymers
• Master Bond
• Parker Lord
• Parson Adhesives, Inc.
• Scott Bader Company Ltd
• Sika AG

Competitive Landscape

Key players in the market include 3M, Ashland, Arkema, DELO, DuPont, Henkel AG & Co. KGaA, HERNON MANUFACTURING INC, Adhesives Technology Corporation, Huntsman International LLC, ITW Performance Polymers, Master Bond, Parker Lord, Parson Adhesives, Inc., Scott Bader Company Ltd, and Sika AG.