Structural Adhesives Market Size Analysis

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.

In the coming years, there will likely be a big increase in demand for structural adhesives because of their growing popularity. The range of structural adhesives applications has expanded dramatically, raising demand.

Structural adhesives are an excellent alternative for application in various industry verticals due to their astoundingly optimum performance characteristics, which include high strength, load-bearing capacity, high heat resistance, etc. Some key drivers boosting demand for structural adhesives have increased demand for electric vehicles, shifting governmental laws, rising demand for buildings, and quickening infrastructure development.

Market Dynamic

HIGH DEMAND FOR ADHESIVES IN BUILDING & CONSTRUCTION AND WIND ENERGY APPLICATIONS

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 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.

These adhesives can prevent nail or screw head stains from appearing on the exterior of walls. Curtain wall panels and insulating glass modules are fixed in place using construction adhesives. The rise in population, urbanization and other factors are mostly to blame for the rising demand for permanent, non-slum housing in India and other developing nations like Brazil, China, Indonesia, and Vietnam.

DIFFERENT CHARACTERISTIC LIMITATIONS OF VARIOUS ADHESIVES

Mechanical qualities and features vary across structural adhesives. Epoxies are utilized in rigid bonding because of their exceptionally high shear strength, polyurethane is used in slightly flexible bonding because of its great strength, and acrylic is used in tough to slightly elastic bonding because of its exceptionally high impact and fatigue resistance. There are some restrictions on the properties of each type of glue.

Therefore, the type of application determines the choice of adhesives. The kind of glue to employ will depend on the substrate being bonded, the level of strength needed, the surrounding environment, and other factors. For instance, materials used to construct airplanes must undergo difficult certification processes that take a long time in the aerospace sector. They necessitate a higher quality of adhesives that must be heat resistant.

INCREASING DEMAND FOR NON-HAZARDOUS, GREEN, AND SUSTAINABLE STRUCTURAL ADHESIVES

The need for green adhesives or those with low VOCs is developing due to the rising demand for eco-friendly or green products in various applications. Manufacturers have been forced to produce eco-friendly adhesives with low VOC levels by strict regulations from the USEPA (United States Environmental Protection Association), Europe’s REACH (Registration, Evaluation, Authorization, and Restrictions of Chemicals), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities.

A growing tendency for environmentally friendly or green buildings is present in the worldwide structural adhesives market due to these regulatory rules, which presents a chance for developing environmentally friendly and sustainable adhesive solutions. These ecologically and health-friendly adhesive options are created from renewable, recycled, remanufactured, or biodegradable components.

Market 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)

Segment-Wise Analysis

Why does the epoxy resin adhesive lead the overall structural adhesives market during the forecast period?

Epoxy is the most widely used structural glue because it adheres to a variety of 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.

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.

Why is the water-based segment increasing in demand in the anticipated period?

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.

Why does wind energy register the highest CAGR during the forecast period?

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• 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.
• The largest and most rapidly expanding market for structural adhesives is in APAC. China is a significant consumer in the area. Some key factors driving the market in APAC include rapid industrialization, changes in the manufacturing bases of end-use industries, and an increase in the number of applications for structural adhesives.

Competition Analysis

As industry standards change across various industry verticals, structural adhesive manufacturers are investing in developing new adhesives with better curing properties.

The key developments in the Global Structural Adhesives Market:

• In December 2021, among the top companies in the curing and adhesives sector, Dymax unveiled a new glue for the assembly of batteries for electric vehicles. To attach cylindrical battery cells to plastic bases and holders and build a battery pack structure, the new 9501-F adhesive offers outstanding metal binding strength.
• In June 2021, new adhesives for aerospace applications were introduced, according to Solvay, a well-known company in the chemical sector. The new adhesives, AeroPaste 1006, 1009, and 1100, as well as BR 179 non-chromate primer, provide greater processing versatility and more effective part assembly.

A list of some of the key suppliers present in the market are:

• 3M Company
• Sika AG
• Henkel AG & Co. KGaA
• The Dow Chemical Company
• B.Fuller
• Scott Bader Co.
• Uniseal Inc.
• Huntsman Corporation
• Ashland Inc.
• Lord Corporation
• Illinois Tool Works Inc.
• Permabond LLC
• MAPEI
• Ardex

Report Coverage and Highlights

• 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 impacting the 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.

• Report Includes

  Market Size Data

  • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
  • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
  • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
  • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
  • Incremental dollar opportunity generated in the forecast period would be indicated
  • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

  Market Background

  • Macroeconomic factors that impact the market developments
  • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
  • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
  • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
  • Trade analysis and analysis of key supply and demand hubs
  • Identification of hotbed opportunities existing in the market
  • Porter’s and PEST analysis to understand the business environment of the geography
  • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

  Pricing Analysis

  • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
  • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
  • Cost teardown analysis and key factors impacting pricing

  Value Chain Analysis

  • Country-wise list of raw material suppliers
    • Raw material price trends and buyers’ sentiment
    • Overview of Intelligent Sourcing Technique
    • Raw material procurement requirements
    • Vendor selection criteria
  • Country-wise list of product manufacturers
  • Country-wise list of distributors/traders
  • Country-wise list of end-users
    • End-Users/Customers consumption mapping
    • Key End-Users/Customers client list
  • Country-wise list of other key channel partners
  • Average profitability margins
  • Regional value chain dynamics

  Competition Analysis

  • Market shares and production capacities of key players
  • Tier structure analysis of market
  • Comprehensive competition dashboard representing the top 10-15 players in the market
  • Individual company profiles of top 15 to 20 manufacturers
    • Business Overview
    • Product Portfolio
    • Key Financials
    • Recent Developments
    • SWOT Analysis
    • Strategies

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

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