The key players operating in the structural adhesives market are Henkel AG & Co. KGaA (Germany), 3M Company (US), Sika AG (Switzerland), Huntsman International LLC (US), Illinois Tool Works Inc. (US), H.B. Fuller (US), Ashland (US), The Dow Chemical Company (US), Bostik (France), and LORD Corporation (US).
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The structural adhesives market is forecast to reach $15.72 billion by 2022 from $11.17 billion in 2017 at a CAGR of 7.1% during (2017-2022) driven by the growing trend and demand for lightweight and low carbon emitting vehicles, the growing demand from applications like building & construction, bus & truck, automotive, wind energy, marine, aerospace, rail, and others.
Key Target Audience:
- Structural Adhesives Manufacturers
- Raw Material Suppliers
- Traders, Distributors, and Suppliers of Structural Adhesives
- Regional Manufacturers’ Associations and General Adhesives & Sealants Associations
- Government and Regional Agencies and Research Organizations
- Investment Research Firms
- Research Institutions and Organizations
- Traders, Distributors, and Suppliers of Technology, Chemicals, or Components
Asia Pacific structural adhesives market is projected to grow at the highest CAGR during the forecast period. Among regions, the Asia Pacific is expected to be the fastest-growing structural adhesives market.
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Growth is mainly attributed to booming economies such as China, India, and Taiwan, among other few smaller countries, such as Indonesia, and Vietnam. China is the leader in the market for structural adhesives in terms of demand in the Asia Pacific.
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Among resins, the cyanoacrylate segment in the structural adhesives market is projected to grow at the highest CAGR during the forecast period, 2017 to 2022. Structural adhesives based on the cyanoacrylate resin offer distinct advantages as these are one-part solvent-free adhesives that cure immediately at room temperature and offer high bonding strength.
These therefore provide optimized and efficient bonding solutions for various substrates.
The composites substrate segment of the structural adhesives market is projected to grow at the highest CAGR during the forecast period, 2017 to 2022. The use of composites in different applications reduce weight and increase efficiency, as composite materials (fiber reinforced plastic and glass fiber reinforced plastic) are lighter than metals, concrete, and brick.
These structural adhesives provide strong bonds, and high chemical and heat resistance.
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In the process of determining and verifying the structural adhesives market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted. Breakup of primary interviews:
- By Company Type: Tier 1 - 38%, Tier 2 - 32%, and Tier 3 - 30%
- By Designation: C-level - 33%, D-level - 32%, and Others - 35%
- By Region: North America - 28%, Europe - 32%, Asia-Pacific - 30%, Middle East & Africa - 6%, and South America - 4%
This report provides a detailed segmentation of the structural adhesives market on the basis of resin, substrate, application, and region. With respect to resin, the structural adhesives market has been segmented into epoxy, polyurethane, acrylic, methyl methacrylate, cyanoacrylate, and others.
On the basis of substrate, the market has been segmented into metals, plastics, wood, composites, and others.
On the basis of application, the market has been segmented into building & construction, bus & truck, automotive, wind energy, marine, rail, aerospace, and others. On the basis of region, the market has been segmented into the Asia Pacific, Europe, North America, South America, and the Middle East & Africa.