Structural Adhesives Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Structural Adhesives Market grew at a CAGR of 4.9% between 2017-2021 and is estimated to be US$ 16,422.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.8% and is expected to reach a valuation of US$ 28,859.6Mn by 2032 end.
The main factors driving the structural adhesive market are the increased usage of modified epoxies, polyurethane adhesives, and methyl methacrylate adhesives in wind energy, maritime, building & construction, and automotive applications expansion. In the coming five years, there will likely be a growth in the use of composite materials, the need for environmentally friendly, sustainable, and non-hazardous structural adhesives, and demand for lightweight, low-emission automobiles and aircraft.
ChemView Consulting has analyzed that demand for high-quality goods is rising due to the developing middle class, changing lifestyles, and rising living standards in China, India, and Mexico. New applications such as exterior insulation systems, carpet adhesives, tiling adhesives, and wallpaper are driving the demand for structural bonds in the construction industry. The main uses of construction adhesives are in panels, wallboard, and floor systems.
Epoxy structural adhesives are used to attach a variety of substrates, including ceramics, metal, wood, concrete, composites, and rubber, in the transportation industries of buses, trucks, and rail. Epoxy structural adhesives provide excellent mechanical, thermal, and electrical qualities and high strength. High-performance epoxy resin glue is in higher demand in North America, particularly for applications in the automotive, aircraft, industrial maintenance, and concrete coatings industries.
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Segments Covered in Report
By Substrate:
- Metal
- Composite
- Wood
- Plastic
- Others (leather, glass, ceramic, concrete)
By Technology:
- Solvent-based
- Water-based
- Others (reactive hot melt, energy cured, and PSAs)
By Resin Type:
- Epoxy
- Polyurethane
- Acrylic
- Methyl Methacrylate
- Cyanoacrylate
- Others (bismaleimide (BMI), phenolic, polyimide, and silicone)
By Application:
- Building & Construction
- Automotive
- Bus & Truck
- Aerospace
- Wind Energy
- Rail
- Marine
- Others (agricultural machinery, sports equipment, and medical devices)
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Structural Adhesives Market
- Based on the technology, the water-based category, which led the market in terms of product type, is expected to expand at a CAGR of 7.2% throughout the projected period. This is explained by the fact that its suitability for several end-use industries may be linked to features like adhesion quality, wet tackiness, enhanced adhesion with the painted metal surface, quick drying time, and low flammability.
- Based on the resin type, epoxy is the most widely used structural glue because it adheres to various materials, is extremely strong, emits few volatile organic compounds (VOCs) during the curing process, and can support heavy loads. They are available in one-component and two-component forms.
- Based on the application, the market segment for wind energy is anticipated to experience the greatest CAGR throughout the forecast period. This expansion is linked to the rising need for a renewable energy source. The market for structural adhesives is expanding due to the increased use of adhesives in wind turbine blades to attach parts, such as the rotor blades of wind turbines.
- Based on the region, the structural adhesives market in North America, which accounted for 23.5% of the global structural adhesives market share, is anticipated to develop at the highest CAGR of 8.9% during the forecast period. Structural adhesives are utilized as a primary bonding agent to attach electronic assemblies, conductive films, and other components. This is due to the growing demand for consumer electronics products.
Competition Summary
Key companies covered in the market study are 3M Company, Sika AG, Henkel AG & Co. KGaA, The Dow Chemical Company, H.B.Fuller, Scott Bader Co., Uniseal Inc., Huntsman Corporation, Ashland Inc., Lord Corporation, Illinois Tool Works Inc., Permabond LLC, MAPEI, Ardex
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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