USD 19.07 Billion
Report ID:
SQMIG15E2301 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
94 |
Figures:
76
Global Structural Adhesive Market size was valued at USD 20.19 Billion in 2022 and is poised to grow from USD 21.38 Billion in 2023 to 33.82 Billion by 2031, at a CAGR 5.9 % during the forecast period (2024-2031).
The increase can be attributed to the increased demand for structural adhesives in the construction industry as a result of expanding construction activity around the world. Rapid modernization and expansion of the building and automobile sectors in developing nations such as China and India are expected to fuel structural adhesive demand in the coming years. Increasing R&D initiatives, as well as a growing preference for novel solutions with high bond strength, shorter curing time, and lower hazardous emissions, are projected to boost the global market for water-based adhesives.
Adhesive producers provide over 250,000 unique products for a wide range of uses. Global demand for low-carbon emitting & lightweight automobiles is expected to drive demand for adhesives in use in transportation. Furthermore, the increased demand for environmentally friendly supplies is predicted to boost product demand in the coming years, as is a greater emphasis on energy conservation, water retention, & sustainable energy production in building and construction.
Structural adhesives have a crucial part in determining overall vehicle weight in automobile manufacturing, resulting in lower carbon emissions through increased fuel efficiency. Because of their endurance and ability to attach incompatible substrates like metal, wood, and polymers, structural adhesives are rapidly replacing mechanical fasteners and welds. Such adhesives are frequently used in the aerospace and automotive sectors, where cost and manufacturing time are critical factors in raw material selection. The total cost & durability of materials and manufacturing procedures dictate the majority of design decisions in the automotive industry. Rising demand for lightweight materials and automotive parts is likely to drive market expansion in the coming years.
The rise of light commercial vehicles, novel passenger vehicles, and new aircraft with high composite material penetration is expected to stimulate the structural adhesives sector. Over the projection period, automotive and aerospace are likely to be the biggest application markets for adhesive in composites. Other uses that require lightweight components with powerful benefits are also predicted to drive the market. Despite fierce competition from alternative materials, demand for structural adhesives & composites is increasing, particularly in applications needing fuel economy, outstanding performance, weight reductions, and other advantages.
The creatorCOVID-19 has a short-term negative influence on the worldwide structural adhesives business due to its widespread use in the automobiles industrial, & construction industries. According to a report provided by the National Centre of Information in April 2020, the manufacturing sector fell by about 30% in March 2020 compared to March 2019. The drop was caused by the closure of automobile companies and factories.
Global Market Size
USD 19.07 Billion
Largest Segment
Water-based
Fastest Growth
Water-based
Growth Rate
al Structural Adhesive Market size was valued at USD 19.07 Billion in 2021 and is poised to grow from USD 20.19 Billion in 2022 to USD 31.87 Billion by 2030, at a CAGR 5.9% CAGR
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The global structural adhesive market is segmented on the basis of product, technology, application, and region. Based on product, the market is segmented into urethane, epoxy, acrylic, cyanoacrylate, and others. Based on technology, the market is segmented into water-based, solvent-based, and others. In terms of application, the market is segmented into transportation, construction, consumer appliances, furniture, and others. Based on region, the global Structural Adhesive Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Structural Adhesive Market Analysis by Product
The epoxy product segment dominated the market, accounting for 23.7% of total revenue in 2022. Its significant proportion is due to the increasing use of epoxy as a bonding agent in end-use industries. Epoxy structural glue provides excellent bonding and is suitable for a wide range of substrates. It guarantees exceptional strength in permanent bonding applications. The most common applications for epoxy are aerospace, automotive, and industrial. They are vibration-resistant bonding, making them the ideal aluminum glue when used as an automobile structure & panel adhesive.
In addition to their use in the plastics and rubber industries, urethane adhesives also have a promising future. Urethanes are classified as one-part or two-part. When two-part urethane structure adhesives are mixed, they react and cure without the need for moisture. Because they are reasonably flexible, two-part urethane adhesives provide great vibration resistance and bonding impact when cured. Urethanes are used to glue wood, concrete, plastic, & rubber together.
Cyanoacrylates are one-part materials that cure quickly when exposed to moisture. As the response is so swift, clamping time is minimal. Cyanoacrylates are designed for high-strength applications such as snugly tailored joints, small bond areas, & rapid curing.
Structural Adhesive Market Analysis by Technology
The water-based technology segment held the biggest revenue share of 46.6% in 2022. Its significant market share is due to its increasing use in offering strong heat resistance. Water-based structural adhesives start out as a liquid, but when the water evaporates, they solidify. Adhesives are typically created by combining chemicals, water, and polymers. Water-based adhesives are highly resistant to heat. Their compatibility in recyclable substrates is well recognized. These adhesives have a low volatile organic compound (VOC) concentration, are flexible, and are odorless. They are suitable for use on Stainless Steel roller and nozzles.
Solvent-based structural adhesives are used in applications such as tape, medical, and packaging. These are the most often used adhesives due to their great resilience to environmental influences and compatibility with a variety of substrates. Solvent-based adhesives are liquids. Because they give secure attachment after the liquid evaporates and the bonding agent remains, these adhesives can be used on both porous & non-porous surfaces. Solvent-based adhesives are used in graphics and packaging for food because they are easier to apply.
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Asia Pacific dominated the structural adhesives industry, accounting for 34.9% of total sales. The rising construction industry in nations like China, India, and Japan is driving the strong demand in the Asia Pacific area. According to the International Trade Administration, China has the world's greatest urbanization rate, and as the country grows as a greener economy, chances for low-carbon development such as green buildings will increase. This is expected to increase the country's construction sector, resulting in the growth of the structure adhesives industry during the next few years.
Europe is anticipated to open up lucrative growth opportunities for structure adhesives companies as a result of escalating construction activity throughout the area, owing to a quickly growing industrial sector and a high urbanization rate. Furthermore, the expanding transportation sector is likely to boost demand for structure adhesive in Europe. Congested roadways and increased traffic volumes are projected to enhance the expansion of the region's transport industry, positively impacting the marketplace in the near future.
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Structural Adhesive Market Drivers
Increasing Demand for Smartphones and Wearable Devices
Structural Adhesive Market Restraints
High Manufacturing Costs
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The global structural adhesives market is very competitive because of the existence of multinationals such as Henkel AG & Co. KGaA, 3M, HB Fuller the business, & others. These companies are extensively involved in quick development and research activities for developing novel products. The increasing demand for structure adhesive has also spurred new and developing firms to enter the industry.
Structural Adhesive Market Top Player’s Company Profiles
Structural Adhesive Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global structural adhesive market analysis, the increased demand for structural adhesives in the construction industry as a result of expanding construction activity around the world. Rapid modernization and expansion of the building and automobile sectors in developing nations such as China and India are expected to fuel structural adhesive demand in the coming years. Increasing R&D initiatives, as well as a growing preference for novel solutions with high bond strength, shorter curing time, and lower hazardous emissions, are projected to boost the global market for water-based adhesives.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 19.07 Billion |
Market size value in 2031 | USD 31.87 Billion |
Growth Rate | al Structural Adhesive Market size was valued at USD 19.07 Billion in 2021 and is poised to grow from USD 20.19 Billion in 2022 to USD 31.87 Billion by 2030, at a CAGR 5.9% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Structural Adhesive Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Structural Adhesive Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Structural Adhesive Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Structural Adhesive Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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REQUEST FREE CUSTOMIZATIONGlobal Structural Adhesive Market size was valued at USD 19.07 Billion in 2021 and is poised to grow from USD 20.19 Billion in 2022 to USD 31.87 Billion by 2030, at a CAGR 5.9 % during the forecast period (2023-2030).
The global structural adhesives market is very competitive because of the existence of multinationals such as Henkel AG & Co. KGaA, 3M, HB Fuller the business, & others. These companies are extensively involved in quick development and research activities for developing novel products. The increasing demand for structure adhesive has also spurred new and developing firms to enter the industry. 'Samsung Display Co., Ltd.', 'LG Display Co., Ltd.', 'BOE Technology Group Co., Ltd.', 'Japan Display Inc.', 'AU Optronics Corp.', 'Visionox Co., Ltd.', 'Tianma Microelectronics Co., Ltd.', 'Royole Corporation', 'E Ink Holdings Inc.', 'Sharp Corporation', 'Innolux Corporation', 'Truly International Holdings Limited', 'Chunghwa Picture Tubes, Ltd.', 'FlexEnable Limited', 'Plastic Logic Germany', 'JOLED Inc.', 'EverDisplay Optronics (Shanghai) Limited', 'Beijing Opto-Electronics Co., Ltd. (BOE)', 'C3Nano', 'Nanosys Inc.'
The demand for smartphones and wearable devices with flexible displays is rapidly increasing due to their enhanced user experience, sleek designs, and durability. Consumers are looking for devices that offer flexibility, portability, and improved aesthetics.
Increasing adoption of foldable smartphones: Foldable smartphones with flexible displays have gained significant attention in the market. These devices offer a larger display area when unfolded and enhanced portability when folded. Several major smartphone manufacturers have launched foldable devices, driving the market growth for flexible displays.
Asia Pacific dominated the structural adhesives industry, accounting for 34.9% of total sales. The rising construction industry in nations like China, India, and Japan is driving the strong demand in the Asia Pacific area. According to the International Trade Administration, China has the world's greatest urbanization rate, and as the country grows as a greener economy, chances for low-carbon development such as green buildings will increase. This is expected to increase the country's construction sector, resulting in the growth of the structure adhesives industry during the next few years.
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Product ID: SQMIG15E2301