The global structural adhesives market was valued at US$ 9,419.4 Mn in 2017. It is anticipated to expand at a CAGR of 6.98% from 2018 to 2026, according to a new research report titled ‘Structural Adhesives Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global structural adhesives market is driven by a rise in demand for structural adhesives from the building & construction and wind energy sectors worldwide. In terms of demand, Asia Pacific accounts for a dominant share of the global structural adhesives market.
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Increase in Demand for Lightweight and Low-carbon Emitting Vehicles and Aircraft are Driving the Structural Adhesives Market
The automotive industry is continually working toward designing lightweight and fuel-efficient vehicles that can reduce carbon dioxide emissions significantly. Stringent regulations regarding carbon dioxide emissions are being imposed worldwide. Structural adhesives play an important role in reducing carbon dioxide emissions. They provide vehicles with structural strength. They possess the ability to bond various surfaces together. Use of structural adhesives makes vehicles lighter, quieter, and safer compared to mechanical fastening methods such as welding, bolting, and soldering. Structural adhesives are known to distribute load evenly across a surface, resulting in better efficiency compared to mechanical fastening, which generates local stress in parts joined. Currently, around 15 kilograms of adhesives are used in an average car. This amount is likely to increase in the next few years. Structural adhesives are preferred for use in interiors, exteriors, and engine compartments of aircraft, due to their advantages over other types of adhesives. Structural adhesives carry higher weight loads and improve uniform distribution of stress and strain across the joints. They also maintain the integrity and strength of materials, as there is no hole, rivet, or fastening element to weaken the structure. The above-mentioned factors are projected to fuel demand for structural adhesives worldwide during the forecast period.
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Stringent Environmental Regulations in North America and Europe are Hampering the Structural Adhesives Market
Volatile organic compounds (VOC) emitted during the use of structural adhesives pose a threat to the environment. Several countries have set guidelines restricting the amount of VOCs emitted during the usage of structural adhesives in industries. Manufacturing operations are bound by regulations and rules with respect to evaluation, registration, storage, usage, handling, and transportation of certain substances and their emissions, effluents, and other wastes. Violation of these regulations is expected to lead to legal obligation in future business activities. These environment-related regulations restrain the demand for structural adhesives in the residential and non-residential construction sector, as violation of these government regulations is projected to attract heavy penalties. Rapid industrialization and urbanization have increased air pollution, which has affected the health of people across the globe.
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Urethane Segment to Dominate Global Structural Adhesives Market
Based on type, the global structural adhesives market has been segmented into epoxy, acrylic, cyanoacrylate, urethane, and others. The others segment comprises silicon, anaerobic adhesives, and vinyl acetates. The urethane segment accounted for a leading share of the global structural adhesives market in 2017. The segment is likely to remain highly attractive during the forecast period, due to the cost-efficient and fast-curing nature of urethanes. Also, urethanes provide strong bonding to larger areas, which provides them a competitive advantage over other types of adhesives.
Automotive Segment to Lead Market
Based on end-use industry, the global structural adhesives market can be divided into automotive, building & construction, marine, aerospace, wind energy, and others. The others segment includes sporting goods, electronics, and furniture. Automotive was a highly attractive segment of the global structural adhesives market in 2017, due to a rise in demand for structural adhesives for use in recreational vehicles and lightweight vehicles. Structural adhesives are used significantly in the automotive industry, as they can provide better adhesion to distinct substrates such as steel and plastics.
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High Degree of Competition among Players Operating in Structural Adhesives Market
The degree of competition among players operating in the structural adhesives market in the China is high, due to the presence of a large number of players producing structural adhesives in the country. Key players operating in the global structural adhesives market are Henkel AG & Co. KGaA, 3M, Sika AG, Huntsman International LLC, Illinois Tool Works Inc., H.B. Fuller, Ashland, DowDuPont, Bostik, and LORD Corporation.
Global Structural Adhesives Market, by Type
- Epoxy
- Acrylics
- Urethane
- Cyanoacrylate
- Others
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