Global Structural Adhesive Market Size, Share, Growth Analysis, By Product(Urethane, Epoxy), By Technology(Water-based, Solvent-based), By Application(Transportation, Construction) - Industry Forecast 2024-2031

Report ID: SQMIG15E2301 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 94 | Figures: 76

Global 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.

Global Structural Adhesive Market Report Snapshots

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Global 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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Global Structural Adhesive Market Size, Share, Growth Analysis, By Product(Urethane, Epoxy), By Technology(Water-based, Solvent-based), By Application(Transportation, Construction) - Industry Forecast 2024-2031

Global Structural Adhesive Market Dynamics

Global Structural Adhesive Market Report Snapshots

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