Lightweight Automotive Composite Sales Uplift Markets within Emerging Economies
Robust expansion of construction, automotive, and consumer electronics sectors are prominently driving the market growth in China and developed markets, whereas escalating adoption of lightweight composites by automakers will elevate volume sales of structural adhesives in developing economies such as Latin America, Middle East and Africa, and South East Asia Pacific. The report projects MEA as a highly opportunistic region through 2028.
Budding Industries Enable China to be Investor‘s Hub through 2028
China, one of the major economies, will continue to witness robust infrastructural development and fostering industrial production. While the recent strategic and political transformations have successfully managed to uplift China as a global hub for investors, a majority of leading companies have pre-established manufacturing facilities in China for structural adhesives. Stringent competition among top players in Chinese market has been enabling China to retain its dominance in the global structural adhesives market. North America and Europe will reportedly be the next key markets by 2028, as indicated by Future Market Insights.
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Structural Adhesives Gain Strong Impetus through Energy Generation Applications
Adoption of structural adhesives is evidently increasing in the building and construction sector for a reliable structural performance. Moreover, a majority of automotive OEMs are increasingly focusing on maintaining a sustainable vehicle design, which is fueling the demand for structural adhesives. Future Market Insights predicts that structural adhesive manufacturers are likely to encounter with attractive opportunities in energy and electronics component industries, as these end-users have been observed to increase investments in structural adhesives. Transportation industry will also generate significant demand for structural adhesives in near future, followed by the energy generation sector. Wind energy generation sector will also create attractive opportunities in an effort to achieve reduced weight and improved load bearing capacity. Booming renewable energy generation will also continue to push structural adhesives’ demand through the forecast period.
Emphasis on Expansion in Developing Countries & Long-term Collaborations Strengthen Structural Adhesives Market Players
In an effort to mitigate for aggressive competition from China-based companies, a majority of key manufacturers are currently focusing more on long-term supply agreements with leading OEMs. Moreover, development of bio-based, environmentally-friendly, low-emission adhesives will remain a popular trend among competitors operating the global structural adhesives market landscape. Product innovation is expected to remain an attractive segment in the industry, witnessing significantly growing investments. The report also throws light on rapid expansion of production capabilities of some of the key players, within Chinese and other lucrative Asian markets.
“At an estimated CAGR of 5.3% during 2018-2028, the global structural adhesives market is expected to attain a value of over US$ 16 billion by the end of 2028,” says a research analyst at Future Market Insights.