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.
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.
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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.
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.
Structural adhesives have been gaining popularity in recent times, and this is expected to create significant demand for them over the next few years. The scope of application of structural adhesives has increased exponentially, and this has also contributed to an increase in demand.
Structural adhesives have astonishingly optimal performance qualities such as high strength, load-bearing capacity, high heat resistance, etc., which make them a good choice for use across multiple industry verticals. Increasing demand for electric vehicles, changing government regulations, rising demand for construction, and rapid infrastructure development are some of the major factors that are driving demand for structural adhesives.
Structural adhesives for metals have different properties than those required for other composites; hence; the different nature of these adhesives acts as a restraining factor for market growth. Structural adhesives for automotive applications are expected to see major rise in demand over the forecast period.
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Key Companies Profiled
- 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
Structural Adhesives Market Key Segments
Structural Adhesives Market by Product Type:
- Epoxy-based Structural Adhesives
- Acrylic-based Structural Adhesives
- Polyurethane-based Structural Adhesives
- Cyanoacrylates
- Others
Structural Adhesives Market by Application:
- Structural Adhesives for Transportation Sector
- Structural Adhesives for Building & Construction Sector
- Structural Adhesives for Energy Sector
- Others
Structural Adhesives Market by Region:
- North America Structural Adhesives Market
- Latin America Structural Adhesives Market
- Europe Structural Adhesives Market
- East Asia Structural Adhesives Market
- South Asia & Pacific Structural Adhesives Market
- Middle East & Africa (MEA)Structural Adhesives Market
Structural Adhesives Market Competitive Landscape
Structural adhesive manufacturers are investing in the research & development of new adhesives with better curing properties as per changing industry standards across multiple industry verticals.
- In December 2021, Dymax, a leading name in the curing and adhesives industry, introduced a new adhesive for electric vehicle battery assembly. The new 9501-F adhesive has excellent bond strength for metals for fixing cylindrical battery cells to plastic bases and holders to create a battery pack structure.
- In June 2021, Solvay, a leading name in the chemical industry, announced the launch of new adhesives for aerospace applications. The new adhesives – AeroPaste 1006, 1009, 1100, along with BR 179 non-chromate primer – offer processing flexibility and increased part assembly efficiency.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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