Structural Adhesives Market

Structural Adhesives Market: Large Area Panel Bonding & Other Automotive Applications Prominently Encourage Sales: Global Industry Analysis 2013 - 2017 and Opportunity Assessment, 2018 - 2028

About the Report

Structural adhesives is projected to have significant growth during the forecast period 2021-2031. Its outstanding mechanical performance such as high strength, load bearing capability, resistance against heat, fatigue, etc., act as drivers to boost its growth in building and construction applications. Recent developments for the growth of structural adhesives include:

PPG research center in November 2020 announced that PPG PR-2930 structural adhesives got a 2020 innovation award from The Adhesive and Sealant Council. PR-2930 is a structural adhesive technology providing composite armor systems with unparalleled performance in the challenging environment. The innovative material enabled the researchers to push performance boundaries to achieve high flexibility without sacrificing its adhesive strength, and maximising the toughness of the material. 

A new product range DuploTEC SBF by Lohmann developed in November 2020 is much stronger than conventional pressure sensitive adhesives. DuploTEC SBF is dimensional precise, easy to handle. The product is based on polyurethane technology made for fast bonding process and low activation temperature. It is a solvent free, dry adhesive film optimally adjustable to the customer’s requirements.

In March 2020, Scott Bader launched Crestabond M7-04 structural adhesive designed for bonding composites, thermoplastics and metals. It is the fastest curing adhesive among the 1:1 M7 Crestabond range. Crestabond M7-04 features include compressive strength, shear, peel and provide excellent impact across all bonded parts. Crestabond adhesive range has primer less bonding technology which is very unique to the market.

Huntsman Advanced Materials in September 2020 have launched the ARALDITE 2000 Adhesive Core Range which is designed to help businesses to maximise productivity up to 80%. The product includes nine high performance adhesives that simplifies the product selection, reduce stock keeping unit and also minimizes the work training. The ARALDITE Adhesive Core Range is designed by three technologies, epoxy, acrylic and polyurethane which are resistant to impact, high temperature, water and chemicals and offer variety of colours, open times and viscosities. 

Automotive & Aerospace Sectors Register Substantial Demand for Structural Adhesives

Besides booming construction and infrastructure industries, stringent regulatory norms set for lightweight automotive body panel and components are identified to be driving the demand for structural adhesives worldwide. Increasing use of structural adhesives in aerospace applications for reduced weight and improved bonding will also remain among the key factors impacting the performance through 2028.

Surging volume sales in the wind turbine and energy generation industry are foreseen to continue generating demand for structural adhesives, specifically for bonding composites.

Theglobal structural adhesives market is anticipated to cross a value worth US$ 16 Bn by the end of the forecast period. During the projection period 2018-2028, the market is pegged to expand at a promising CAGR of 5.3%.  

Polyurethane Adhesives Lead Owing to their Structural Properties & Increasing Applications

Being the toughest and most flexible structural adhesives, polyurethane-based adhesives are anticipated to exhibit substantial demand over the projection period. These adhesives are versatile and most economic, when compared to all other types of structural adhesives.

With growing applications in the automotive industry, polyurethane adhesives will continue to experience significant demand, especially in large area panel bonding. Epoxy-based adhesives are witnessing high traction in structural bonding applications, and are likely to hold a significant revenue share in the global market for structural adhesives, following polyurethane. Cyanoacrylate adhesives are expected to witness a significant thrust in coming years, as depicted by recent research. 

China Will Remain the Investor’s Hotspot due to Aggression among Key Contenders

Stiff competition between the key players in China and North America will enable both the regions to continue their dominance in the global structural adhesives market, in terms of revenue share. European market will also be a key region through 2028, as indicated by the report. While bolstering growth of automotive and construction sectors is expected to drive growth of North America and Europe, the flourishing electronics sector is likely to fuel growth of Chinese market.

China is believed to continue its lead as the top choice among investors. Some of the key players such as Sika AG, Henkel AG & Co. KGaA, Huntsman Corporation, and 3M Company have been concentrating on gaining an expanded value share through higher investment in China.

Emerging Economies Represent Lucrative Markets

While China and North America are currently observed to be accounting for significant market value shares in the global structural adhesives market, the report spots developing economies such as MEA, SEAP, and Latin America as the high-potential regional markets, estimated to open new doors of opportunities for manufacturers in upcoming years. MEA has been recognized as a high-growth low-volume region expected to host multiple opportunities during the forecast period.

Soaring demand for lightweight composites among automakers will play a crucial role in expanding volume sales of structural adhesives in next few years. Aerospace industry will also continue to put forth significant demand for lightweight composites, and eventually for structural adhesives. MEA, especially GCC countries, will reportedly register high sales owing to a widening application base in the transportation sector. GCC is likely to be a high-growth regional market within MEA, whereas Africa will witness relatively lower growth.

Manufacturers are currently switching to the development of bio-based structural adhesives, which is said to be an influencing trend in the industry. Moreover, development of low temperature-cured, water-based variants of structural adhesives is an increasingly adopted trend among manufacturers. The development involving low curing time is also trending among leading companies, leading to innovations and growing demand. Rapid popularity of electric vehicles will also seemingly contribute to structural adhesive sales through 2028.

Key Taxonomy Provides Market Segmentation Based on Product Type, Application, and Region

By Application

  • Transportation
  • Automotive
  • Aerospace
  • Marine
  • Electronic Components
  • Building & Construction
  • Energy
  • Others

By Product Type

  • Epoxy-based
  • Acrylic-based
  • Polyurethane-based
  • Cyanoacrylate
  • Others

By Region

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • South East Asia and Pacific
  • China
  • Japan
  • Middle East and Africa

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Structural Adhesives Market