Structural Adhesives Market

Structural Adhesives Market Size (2023-2028):

The structural adhesives market was expected to valued to be USD 16.0 billion in 2022 and is estimated during the conjecture period to reach USD 20.4 billion by 2028, at a compound annual growth rate of 9.3%.

Structural adhesives are known for excellent mechanical performance while enabling weight reduction. These adhesives provide high strength, load-bearing ability, flexibility, and impact resistance, along with heat, fatigue, and solvent resistance. All structural adhesives provide at least one thousand psi of overlap shear strengthening to the substrate. A wide variety of substrates like steel, aluminum, copper, plastics, rubber, glass, wood, and others are used to bond in the structural adhesives market.

The augmented use of modified epoxies and polyurethane adhesives, along with the rising penetration of methyl methacrylate adhesives in industries like wind energy, marine, automotive, and building & construction are promoting the expansion of the global structural adhesives market. The augmenting demand for lightweight and low carbon-emitting automobiles and aircraft, along with the call for green and sustainable products are foreseen to fuel the demand for structural adhesives in the next 5 years.

The major factors promoting the market boom are the rise in the worldwide construction and automotive sectors. However, growing environmental and health concerns are likely to hinder the growth of this business in the future. Growing research on underwater structural adhesives is foreseen to provide lucrative opportunities. North America influences the worldwide market with the largest consumption from the United States.

Drivers and Restraints in the Structural Adhesives Market

The emerging middle-class population, changing lifestyle, and improving the standard of living in China, India, and Mexico is leading to increasing demand for high-quality products.

Driving the demand for structural adhesives is the construction sector where applications like carpet adhesives, tiling adhesives, wallpapers, and exterior insulation systems are increasing. The floor systems, interior wallboard, and panels are major applications of the structural adhesives market. These adhesives offer wall exteriors free from marks caused by nails or screw heads by their use. To hold curtain wall panels and insulating glass units in place are used in construction adhesive. The primarily driven by the growth in population, urbanization, and increasing income in countries by augmenting demand for permanent, non-slum houses across India and other developing countries like Brazil, China, Indonesia, and Vietnam.

Epoxies are extensively used in rigid bonding because of their high strength, while polyurethane is used in flexible bonding and acrylic in rigid to flexible bonding with high resistance to impact and fatigue. The selection of adhesives mainly depends on the substrate type, strength, environmental conditions, and other aspects. As a result, the limitations related to each adhesive restrict the implementation of specific adhesives in numerous applications.

Owing to the rising demand for eco-friendly or green products in various applications, the need for green adhesives or those with low VOC is increasing. Stringent regulations by the USEPA, Europe’s REACH, Leadership in Energy and Environmental Design, and other regional regulatory authorities have forced manufacturers to make eco-friendly adhesives with low VOC levels. The global demand for environment-friendly or green buildings is acting as a catalyst for the growth of this market.

Developed countries such as the United States, Germany, the United States, Japan, and other Western countries have well-established infrastructure for the public, commercial, and transport sectors. The developed infrastructure offers low prospects for new constructions. Manufacturers need to come up with innovative products to capture newer markets like the medical, agricultural, healthcare, and food packaging sectors.

STRUCTURAL ADHESIVES MARKET REPORT COVERAGE

The structural adhesives market is segmented into the following categories as per the research report.

Structural Adhesives Market - By Resin Type

• Epoxy

• Polyurethane

• Acrylic

• Methyl Methacrylate

• Cyanoacrylate

• Others

Epoxy resin adhesive to foreseen to rule the overall structural adhesives market in the following years. Epoxy is the most used structural adhesive because of the ability to adhere to many types of materials, which has high strength, less emission of Volatile Organic Compounds, and has the ability to sustain heavy load in structural adhesives market.

Structural Adhesives Market - By Substrate

• Metal

• Composite

• Wood

• Plastic

• Others

Epoxy structural adhesives have immense applications in end-use sectors like buses & trucks, aerospace, and railways for bonding various substrates. They provide high strength along with mechanical, thermal, and electrical properties in the market.

Structural Adhesives Market - By Application

• Building & Construction

• Automotive

• Bus & Truck

• Aerospace

• Wind Energy

• Rail

• Marine

• Others

The wind energy segment is estimated during the calculated period to register the highest compound annual growth rate by 2024. This growth is contributed to the increasing demand for renewable sources of energy. The increased employment of adhesives in wind turbine blades, including rotor blades, is accelerating the development of the global structural adhesives market

Structural Adhesives Market - By Technology

• Solvent-based
• Water-based
• Others

Regulations on solvent-based adhesives including VOC (Volatile Organic Compounds) are driving the demand for water-based structural adhesives. They are led to an increase in the development of new structural adhesives using eco-friendly formulations.

Structural Adhesives Market - By Region

• North America

• APAC

• Europe

• Middle East & Africa

• South America

In the global structural adhesives market, Asia Pacific is the largest and fastest-growing region. China is a major consumer in the Asia Pacific region due to the rapid industrialization, shift in the manufacturing bases of end-use industries, and an increase in the number of applications of the structural adhesives market.

North America and Europe are considered saturated markets, however, the rising technological progressions in sporting goods and medical applications are foreseen to accelerate the demand in these regions over the calculated period.

Some of the leading players in the structural adhesive market are

1. Henkel

2. Sika AG

3. 3M Company

4. Arkema 

5. Huntsman

6. Hubei Huitian Adhesive Enterprise Co.

7. Scott Bader

8. SIKA AG

9. Lord Corporation

10. Dow Chemical Company

11. Ashland

12. ITW