USD 19.07 Billion
Structural Adhesive Market Size, Share, Growth Analysis, By Resin (Epoxy, Polyurethane), By Technology (Water-based, Solvent-based), By Substrate (Plastic, Metal), By Application (Transportation, Construction), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2301 |
Region:
Global |
Published Date: September, 2024
Pages:
184
|Tables:
94
|Figures:
76
Structural Adhesive Market Insights
Global Structural Adhesive Market size was valued at USD 12.9 Billion in 2022 and is expected to grow from USD 13.6 Billion in 2023 to reach USD 21.1 Billion by 2031, at a CAGR of 5.6% 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.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Water-based
Fastest Growth
Solvent-Based
Growth Rate
al Structural Adhesive Market size was valued at U CAGR
Structural Adhesive Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Structural Adhesive Market Segmental Analysis
The global structural adhesive market is segmented by Resin, Technology, Substrate, Application, and region. Based on Resin, the market is segmented into Epoxy, Polyurethane, Acrylic, Methyl Methacrylate, Cyanoacrylate, and Other Resins. Based on Technology, the market is segmented into Water-based, Solvent-based, and Others. Based on Substrate, the market is segmented into Plastic, Metal, Wood, Composites, Other Substrate. Based on Application, the market is segmented into Building & Construction, Bus & Truck, Automotive, Aerospace, Wind Energy, Marine, Rail and Other Applications. Based on Region, the global Structural Adhesive Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Analysis by Resin
In 2023, the epoxy product category held the largest sales share of 23.7%, dominating the market. The rising usage of epoxy as a bonding agent in end-use industries is the primary cause of its high share. Epoxy structural glue is the most adaptable adhesive for a wide range of substrates, offering strong bonding. High strength for applications involving permanent bonding is guaranteed. Aerospace, automotive, and industrial applications are the main uses for epoxy.
Because urethane adhesives are used in the plastic and rubber industries, they also show some development potential. One-part and two-part urethanes are the two varieties of urethanes. Structural adhesives made of two parts urethanes react when combined and do not need moisture to cure.
One-part compounds called cyanoacrylics react with moisture to cure extremely quickly. Because of how quickly this response occurs, very little clamping time is needed. Applications requiring great strength, such as tiny bond regions, tight-fitting joints, and quick drying, are the reason cyanoacrylics were invented.
Analysis by Resin
Metal constitutes the largest substrate segment in the structural adhesives industry. Because metals are used so extensively in so many different industries, including aerospace, construction, and automotive, this dominance is predicted to last. However, because of the growing need for lightweight, high-strength materials in applications like sporting goods and wind turbine blades, the composite category is growing at the quickest rate.
Analysis by Technology
With the largest revenue share of 46.6% in 2023, the market was led by the water-based technology category. Its increasing use in delivering strong heat resistance is the reason for its large market share. Structural adhesives based on water start off as liquids but solidify when the water evaporates. Water, polymers, and additives are often combined to create these adhesives. Adhesives based on water have a great heat resistance.
Applications for solvent-based structural adhesives include packaging, medicinal, and taping. Since they work well with a variety of substrate types and have a strong resilience to environmental effects, these adhesives are the most often used. Liquid solvent-based adhesives are accessible.
Analysis by Application
In 2023, the market was dominated by the construction application segment, which had the greatest revenue share of 29.3%. Its large proportion is fueled by the expanding building industry as a result of the world's fast urbanization and industrial expansion. Structural adhesives are frequently used in the building industry to combine disparate materials including metal, concrete, and wood.
In addition to the construction industry, structural adhesives find application in the transportation and automotive sectors where they contribute to vehicle weight reduction, enhanced durability, and expedited vehicle manufacturing. Adhesives for transportation vehicles are frequently made of modified silane polymer (SMP) and methyl methacrylate (MMA).
Structural Adhesive Market By Technology
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Structural Adhesive Market Regional Insights
With the largest revenue share of 34.9% in the structural adhesives market in 2023, Asia Pacific led the market. The expanding construction sector in nations like China, India, and Japan is the main cause of the strong demand in the Asia Pacific area. China has the fastest pace of urbanization in the world, according to the International Trade Administration. As the nation's economy grows more environmentally friendly, there will be more prospects for low-carbon development, such as green buildings.
Due to the fast expanding industrial sector and high rate of urbanisation, Europe is expected to present structural adhesives industry operators with profitable expansion prospects due to the region's increasing building activity.
Structural Adhesive Market By Geography
- Largest
- Fastest
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Structural Adhesive Market Dynamics
Structural Adhesive Market Drivers
Increasing Demand for Smartphones and Wearable Devices
- 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.
Structural Adhesive Market Restraints
High Manufacturing Costs
- The manufacturing process for flexible displays involves complex technologies and specialized materials, which result in higher production costs compared to traditional displays. This cost factor poses a challenge for mass adoption and market penetration.
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Structural Adhesive Market Competitive Landscape
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
- 3M Company (USA)
- Huntsman Corporation (USA)
- Arkema S.A. (France)
- Sika AG (Switzerland)
- Ashland Global Holdings Inc. (USA)
- Dow Inc. (USA)
- Permabond LLC (UK)
- H.B. Fuller Company (USA)
- Avery Dennison Corporation (USA)
- Master Bond Inc. (USA)
- ITW Polymers Adhesives (USA)
- Dymax Corporation (USA)
- Weicon GmbH & Co. KG (Germany)
- DELO Industrie Klebstoffe GmbH & Co. KGaA (Germany)
- Jowat SE (Germany)
- Parson Adhesives (USA)
Structural Adhesive Market Recent Development
- In May 2024,Syensqo to showcase two-part adhesive for aerospace manufacturers
- In January 2024, Global chemistry business, Scott Bader, has begun production of its structural adhesives and gelcoats at a new $12.5 million manufacturing facility in Mocksville.
- In January 2024, Park Aerospace Corp. announces introduction of Aeroadhere™ FAE-350-1 structural film adhesive product.
- In October 2023, Bostik Showcases New Adhesives Range at The India Battery Show 2023.
- In June 2023, Park Aerospace Corp. unveiled Aeroadhere FAE-350-1, a novel structural film adhesive designed to join primary and secondary structures.
- In October 2022, Elixir (Bengaluru, India) and Scott Bader (Wellingborough, UK) joined to market Crestabond structural adhesives across India. The news aligns with the company's pledge to assist the Indian composites business, which was made in April 2022.
- In February 2022, Arkema completed its acquisition of Ashland's Performance Adhesives division. Structural adhesives are among the products available in this area. The acquisition was worth USD 1.65 billion. The acquisition bolstered Arkema's Adhesive Solutions sector and was in line with the company's objective of becoming a pure specialty material provider by 2024.
- In February 2022, H.B. Fuller Company announced the completion of its acquisition of Apollo, a maker of liquid adhesives, coatings, & primers for the roofing material, industrial, and construction markets. Apollo is projected to boost H.B. Fuller's position in key high-value, high-margin sectors throughout the UK and Europe. Apollo is going to operate within H.B. Fuller's current Building adhesives & Engineering Adhesives company divisions.
Structural Adhesive Key Market Trends
- 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.
- Growing demand for flexible OLED displays: Organic light-emitting diode (OLED) displays are a popular choice for flexible displays due to their thinness, light weight, and ability to produce vibrant colors. The market for flexible OLED displays is expanding rapidly, driven by the demand for smartphones, smartwatches, and other wearable devices.
- Emergence of rollable displays: Rollable displays, which can be rolled or unfurled to provide a larger screen size, have gained attention as a promising technology. This trend allows for more compact devices with the flexibility to expand the display size when needed, providing enhanced user experience and convenience.
- Integration of flexible displays in automotive applications: Flexible displays are finding increased adoption in automotive applications, particularly in dashboards and infotainment systems. These displays offer curved or contoured designs, enabling seamless integration into the vehicle's interior and providing immersive visual experiences for drivers and passengers.
- Advancements in display materials and technologies: Continuous advancements in materials, such as flexible substrates, transparent conductive films, and flexible encapsulation, are driving the development of flexible displays. Additionally, new manufacturing processes and techniques are being developed to enhance the flexibility, durability, and reliability of these displays.
Structural Adhesive Market SkyQuest Analysis
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 2022 | USD 12.9 Billion |
| Market size value in 2031 | USD 21.1 Billion |
| Growth Rate | 5.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Structural Adhesive Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Structural Adhesive Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Structural Adhesive Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 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.
Structural Adhesive Market Report Snapshots
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