Global structural adhesive tape market is expected to flourish at a significant CAGR of 7.2% during the forecast period. Moreover, the global structural adhesive tape market is expected to garner USD 15.3 Billion by the end of 2024.
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The global structural adhesive tape market is segmented into bonding structure type such as single sided bonding and double sided bonding. Among these segments, double sided bonded structural adhesive tape segment is expected to occupy top position in overall structural adhesive tape market during the forecast period.
Advantages and benefits of double sided structural adhesive tape such as high strength and long-term durability are anticipated to trigger the growth of this segment. Moreover, increasing utilization of structural adhesive tape as an alternative to structural silicone and spacer tapes is anticipated to fuel the growth of the global structural adhesive tape market.
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Increasing demand for low weight automobiles is expected to strengthen the growth of structural adhesive tape market during the forecast period. Further, stringent government regulations to increase the fuel efficiency are anticipated to increase the adoption of structural adhesive tape in automotive industry.
Asia Pacific accounted for the highest market share of overall structural adhesive tape market and is expected to continue its dominance over the forecast period. Strong growth in the automotive sector and presence of large shipbuilding companies in the region are expected to accelerate the growth of the structural adhesive tape market in the region.
North America is projected to witness significant growth during the forecast period. Development and expansion of the aviation industry in the region is expected to strengthen the growth of structural adhesive tape market in North America.
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Rising Adoption in Various End Use Industries
Increasing adoption of structural adhesive tape over other alternatives in various end use industries such as automotive, construction and aerospace industry is predicted to significantly impact the growth of the market. Further, augmented demand for high fuel efficient vehicles is anticipated to impetus structural adhesive tape market over the forecast period.
Continuous development of advanced adhesive tapes and increasing expenditure on research & development are poised to fuel the growth of the structural adhesive tape market. Further, increasing demand for customized tapes for specific end use industries is expected to trigger the growth of the global structural adhesive tape market.
Although, volatility in the price of raw material and uncertainties about the supply of raw material are some factors which might dampen the growth of structural adhesive tape market during the forecast period.
The report titled “Structural Adhesive Tape Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global structural adhesive tape market in terms of market segmentation by product, by bonding structure type, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global structural adhesive tape market which includes company profiling of Henkel AG, 3M Company, Ashland Inc., Dow Chemical Company, Sika AG, Scott Bader Co., Arkema, Lord Corporation, Hubei Huitian Adhesive Enterprise Co., and ITW Engineered Polymers. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global structural adhesive tape market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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