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 Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
Structural Bonding Adhesives Market 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.
Structural Bonding Adhesives Market 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.
Structural Bonding Adhesives 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.
Structural Bonding Adhesives Market 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
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Structural Bonding Adhesives Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Structural Bonding Adhesives Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Structural Bonding Adhesives Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Structural Bonding Adhesives Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Structural Bonding Adhesives Market Size & Forecast, 2018-2028
4.5.1 Structural Bonding Adhesives Market Size and Y-o-Y Growth
4.5.2 Structural Bonding Adhesives Market Absolute $ Opportunity
4.6 Regulatory Landscape
Chapter 5 Global Structural Bonding Adhesives Market Analysis and Forecast By Substrates
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Substrates
5.1.2 Basis Point Share (BPS) Analysis By Substrates
5.1.3 Absolute $ Opportunity Assessment By Substrates
5.2 Structural Bonding Adhesives Market Size Forecast By Substrates
5.2.1 Metal
5.2.2 Composite
5.2.3 Wood
5.2.4 Plastic
5.2.5 Others
5.3 Market Attractiveness Analysis By Substrates
Chapter 6 Global Structural Bonding Adhesives Market Analysis and Forecast By Technologies
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Technologies
6.1.2 Basis Point Share (BPS) Analysis By Technologies
6.1.3 Absolute $ Opportunity Assessment By Technologies
6.2 Structural Bonding Adhesives Market Size Forecast By Technologies
6.2.1 Water-based
6.2.2 Solvent-based
6.2.3 Reactive Adhesives
6.2.4 Others
6.3 Market Attractiveness Analysis By Technologies
Chapter 7 Global Structural Bonding Adhesives Market Analysis and Forecast By Resin Types
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By Resin Types
7.1.2 Basis Point Share (BPS) Analysis By Resin Types
7.1.3 Absolute $ Opportunity Assessment By Resin Types
7.2 Structural Bonding Adhesives Market Size Forecast By Resin Types
7.2.1 Epoxy
7.2.2 Polyurethane
7.2.3 Acrylic
7.2.4 Methyl Methacrylate
7.2.5 Cyanoacrylate
7.2.6 Others
7.3 Market Attractiveness Analysis By Resin Types
Chapter 8 Global Structural Bonding Adhesives Market Analysis and Forecast By Applications
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities By Applications
8.1.2 Basis Point Share (BPS) Analysis By Applications
8.1.3 Absolute $ Opportunity Assessment By Applications
8.2 Structural Bonding Adhesives Market Size Forecast By Applications
8.2.1 Transportation
8.2.2 Construction
8.2.3 Consumer Appliances
8.2.4 Furniture
8.2.5 Industrial Machinery
8.2.6 Others
8.3 Market Attractiveness Analysis By Applications
Chapter 9 Global Structural Bonding Adhesives Market Analysis and Forecast by Region
9.1 Introduction
9.1.1 Key Market Trends & Growth Opportunities by Region
9.1.2 Basis Point Share (BPS) Analysis by Region
9.1.3 Absolute $ Opportunity Assessment by Region
9.2 Structural Bonding Adhesives Market Size Forecast by Region
9.2.1 North America
9.2.2 Europe
9.2.3 Asia Pacific
9.2.4 Latin America
9.2.5 Middle East & Africa (MEA)
9.3 Market Attractiveness Analysis by Region
Chapter 10 Coronavirus Disease (COVID-19) Impact
10.1 Introduction
10.2 Current & Future Impact Analysis
10.3 Economic Impact Analysis
10.4 Government Policies
10.5 Investment Scenario
Chapter 11 North America Structural Bonding Adhesives Analysis and Forecast
11.1 Introduction
11.2 North America Structural Bonding Adhesives Market Size Forecast by Country
11.2.1 U.S.
11.2.2 Canada
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 North America Structural Bonding Adhesives Market Size Forecast By Substrates
11.6.1 Metal
11.6.2 Composite
11.6.3 Wood
11.6.4 Plastic
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis By Substrates
11.8 Absolute $ Opportunity Assessment By Substrates
11.9 Market Attractiveness Analysis By Substrates
11.10 North America Structural Bonding Adhesives Market Size Forecast By Technologies
11.10.1 Water-based
11.10.2 Solvent-based
11.10.3 Reactive Adhesives
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis By Technologies
11.12 Absolute $ Opportunity Assessment By Technologies
11.13 Market Attractiveness Analysis By Technologies
11.14 North America Structural Bonding Adhesives Market Size Forecast By Resin Types
11.14.1 Epoxy
11.14.2 Polyurethane
11.14.3 Acrylic
11.14.4 Methyl Methacrylate
11.14.5 Cyanoacrylate
11.14.6 Others
11.15 Basis Point Share (BPS) Analysis By Resin Types
11.16 Absolute $ Opportunity Assessment By Resin Types
11.17 Market Attractiveness Analysis By Resin Types
11.18 North America Structural Bonding Adhesives Market Size Forecast By Applications
11.18.1 Transportation
11.18.2 Construction
11.18.3 Consumer Appliances
11.18.4 Furniture
11.18.5 Industrial Machinery
11.18.6 Others
11.19 Basis Point Share (BPS) Analysis By Applications
11.20 Absolute $ Opportunity Assessment By Applications
11.21 Market Attractiveness Analysis By Applications
Chapter 12 Europe Structural Bonding Adhesives Analysis and Forecast
12.1 Introduction
12.2 Europe Structural Bonding Adhesives Market Size Forecast by Country
12.2.1 Germany
12.2.2 France
12.2.3 Italy
12.2.4 U.K.
12.2.5 Spain
12.2.6 Russia
12.2.7 Rest of Europe
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Europe Structural Bonding Adhesives Market Size Forecast By Substrates
12.6.1 Metal
12.6.2 Composite
12.6.3 Wood
12.6.4 Plastic
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis By Substrates
12.8 Absolute $ Opportunity Assessment By Substrates
12.9 Market Attractiveness Analysis By Substrates
12.10 Europe Structural Bonding Adhesives Market Size Forecast By Technologies
12.10.1 Water-based
12.10.2 Solvent-based
12.10.3 Reactive Adhesives
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis By Technologies
12.12 Absolute $ Opportunity Assessment By Technologies
12.13 Market Attractiveness Analysis By Technologies
12.14 Europe Structural Bonding Adhesives Market Size Forecast By Resin Types
12.14.1 Epoxy
12.14.2 Polyurethane
12.14.3 Acrylic
12.14.4 Methyl Methacrylate
12.14.5 Cyanoacrylate
12.14.6 Others
12.15 Basis Point Share (BPS) Analysis By Resin Types
12.16 Absolute $ Opportunity Assessment By Resin Types
12.17 Market Attractiveness Analysis By Resin Types
12.18 Europe Structural Bonding Adhesives Market Size Forecast By Applications
12.18.1 Transportation
12.18.2 Construction
12.18.3 Consumer Appliances
12.18.4 Furniture
12.18.5 Industrial Machinery
12.18.6 Others
12.19 Basis Point Share (BPS) Analysis By Applications
12.20 Absolute $ Opportunity Assessment By Applications
12.21 Market Attractiveness Analysis By Applications
Chapter 13 Asia Pacific Structural Bonding Adhesives Analysis and Forecast
13.1 Introduction
13.2 Asia Pacific Structural Bonding Adhesives Market Size Forecast by Country
13.2.1 China
13.2.2 Japan
13.2.3 South Korea
13.2.4 India
13.2.5 Australia
13.2.6 South East Asia (SEA)
13.2.7 Rest of Asia Pacific (APAC)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Asia Pacific Structural Bonding Adhesives Market Size Forecast By Substrates
13.6.1 Metal
13.6.2 Composite
13.6.3 Wood
13.6.4 Plastic
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis By Substrates
13.8 Absolute $ Opportunity Assessment By Substrates
13.9 Market Attractiveness Analysis By Substrates
13.10 Asia Pacific Structural Bonding Adhesives Market Size Forecast By Technologies
13.10.1 Water-based
13.10.2 Solvent-based
13.10.3 Reactive Adhesives
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis By Technologies
13.12 Absolute $ Opportunity Assessment By Technologies
13.13 Market Attractiveness Analysis By Technologies
13.14 Asia Pacific Structural Bonding Adhesives Market Size Forecast By Resin Types
13.14.1 Epoxy
13.14.2 Polyurethane
13.14.3 Acrylic
13.14.4 Methyl Methacrylate
13.14.5 Cyanoacrylate
13.14.6 Others
13.15 Basis Point Share (BPS) Analysis By Resin Types
13.16 Absolute $ Opportunity Assessment By Resin Types
13.17 Market Attractiveness Analysis By Resin Types
13.18 Asia Pacific Structural Bonding Adhesives Market Size Forecast By Applications
13.18.1 Transportation
13.18.2 Construction
13.18.3 Consumer Appliances
13.18.4 Furniture
13.18.5 Industrial Machinery
13.18.6 Others
13.19 Basis Point Share (BPS) Analysis By Applications
13.20 Absolute $ Opportunity Assessment By Applications
13.21 Market Attractiveness Analysis By Applications
Chapter 14 Latin America Structural Bonding Adhesives Analysis and Forecast
14.1 Introduction
14.2 Latin America Structural Bonding Adhesives Market Size Forecast by Country
14.2.1 Brazil
14.2.2 Mexico
14.2.3 Rest of Latin America (LATAM)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Latin America Structural Bonding Adhesives Market Size Forecast By Substrates
14.6.1 Metal
14.6.2 Composite
14.6.3 Wood
14.6.4 Plastic
14.6.5 Others
14.7 Basis Point Share (BPS) Analysis By Substrates
14.8 Absolute $ Opportunity Assessment By Substrates
14.9 Market Attractiveness Analysis By Substrates
14.10 Latin America Structural Bonding Adhesives Market Size Forecast By Technologies
14.10.1 Water-based
14.10.2 Solvent-based
14.10.3 Reactive Adhesives
14.10.4 Others
14.11 Basis Point Share (BPS) Analysis By Technologies
14.12 Absolute $ Opportunity Assessment By Technologies
14.13 Market Attractiveness Analysis By Technologies
14.14 Latin America Structural Bonding Adhesives Market Size Forecast By Resin Types
14.14.1 Epoxy
14.14.2 Polyurethane
14.14.3 Acrylic
14.14.4 Methyl Methacrylate
14.14.5 Cyanoacrylate
14.14.6 Others
14.15 Basis Point Share (BPS) Analysis By Resin Types
14.16 Absolute $ Opportunity Assessment By Resin Types
14.17 Market Attractiveness Analysis By Resin Types
14.18 Latin America Structural Bonding Adhesives Market Size Forecast By Applications
14.18.1 Transportation
14.18.2 Construction
14.18.3 Consumer Appliances
14.18.4 Furniture
14.18.5 Industrial Machinery
14.18.6 Others
14.19 Basis Point Share (BPS) Analysis By Applications
14.20 Absolute $ Opportunity Assessment By Applications
14.21 Market Attractiveness Analysis By Applications
Chapter 15 Middle East & Africa (MEA) Structural Bonding Adhesives Analysis and Forecast
15.1 Introduction
15.2 Middle East & Africa (MEA) Structural Bonding Adhesives Market Size Forecast by Country
15.2.1 Saudi Arabia
15.2.2 South Africa
15.2.3 UAE
15.2.4 Rest of Middle East & Africa (MEA)
15.3 Basis Point Share (BPS) Analysis by Country
15.4 Absolute $ Opportunity Assessment by Country
15.5 Market Attractiveness Analysis by Country
15.6 Middle East & Africa (MEA) Structural Bonding Adhesives Market Size Forecast By Substrates
15.6.1 Metal
15.6.2 Composite
15.6.3 Wood
15.6.4 Plastic
15.6.5 Others
15.7 Basis Point Share (BPS) Analysis By Substrates
15.8 Absolute $ Opportunity Assessment By Substrates
15.9 Market Attractiveness Analysis By Substrates
15.10 Middle East & Africa (MEA) Structural Bonding Adhesives Market Size Forecast By Technologies
15.10.1 Water-based
15.10.2 Solvent-based
15.10.3 Reactive Adhesives
15.10.4 Others
15.11 Basis Point Share (BPS) Analysis By Technologies
15.12 Absolute $ Opportunity Assessment By Technologies
15.13 Market Attractiveness Analysis By Technologies
15.14 Middle East & Africa (MEA) Structural Bonding Adhesives Market Size Forecast By Resin Types
15.14.1 Epoxy
15.14.2 Polyurethane
15.14.3 Acrylic
15.14.4 Methyl Methacrylate
15.14.5 Cyanoacrylate
15.14.6 Others
15.15 Basis Point Share (BPS) Analysis By Resin Types
15.16 Absolute $ Opportunity Assessment By Resin Types
15.17 Market Attractiveness Analysis By Resin Types
15.18 Middle East & Africa (MEA) Structural Bonding Adhesives Market Size Forecast By Applications
15.18.1 Transportation
15.18.2 Construction
15.18.3 Consumer Appliances
15.18.4 Furniture
15.18.5 Industrial Machinery
15.18.6 Others
15.19 Basis Point Share (BPS) Analysis By Applications
15.20 Absolute $ Opportunity Assessment By Applications
15.21 Market Attractiveness Analysis By Applications
Chapter 16 Competition Landscape
16.1 Structural Bonding Adhesives Market: Competitive Dashboard
16.2 Global Structural Bonding Adhesives Market: Market Share Analysis, 2020
16.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
16.3.1 3M
16.3.2 Ashland
16.3.3 Arkema
16.3.4 DELO
16.3.5 DuPont
16.3.6 Henkel AG & Co. KGaA
16.3.7 HERNON MANUFACTURING INC
16.3.8 Adhesives Technology Corporation
16.3.9 Huntsman International LLC
16.3.10 ITW Performance Polymers
16.3.11 Master Bond
16.3.12 Parker Lord
16.3.13 Parson Adhesives, Inc.
16.3.14 Scott Bader Company Ltd
16.3.15 Sika AG