Global Structural adhesives market is expected to grow at 7.9% CAGR during 2016-2022
Added: (Fri Mar 03 2017)
The global structural adhesives market in 2015 was USD 18.3 billion and is expected to grow at the CAGR of 7.9% between 2016 to 2022.
The global structural adhesive market is growing considerably due to increase in usage of plastics in automotive industry to reduce weight, enhance corrosion resistance and durability in order to increase fuel efficiency along with reducing carbon emissions that will propel the structural adhesive market growth. Automobile industry requires a lightweight metal that has strong bonding properties between dissimilar substrates such as steel-plastic and steel-magnesium that are used in door panels, window-glass attachment, brakes and friction plates. Thus, booming automobile industry due to increase in demand for passenger car will contribute in growth of structural adhesive market in future.
Structural Adhesives Market Players:
- 3M Company,
- The Dow Chemical Company,
- Ashland Inc.,
- SIKA AG,
- Henkel AG & Co.,
- Lord Corporation,
- Scott Bader Company,
- Arkema S.A.,
- Hubei Huitian Adhesive Enterprise Co.,
- Ried B.V. Co.
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Structural adhesive is segmented into product types, technology and application. On basis of product types, structural adhesive is segmented into epoxy, acrylic, urethane, cyanoacrylate and others. Urethane structural adhesive dominates the market demand owing to its low cost and properties such as high elasticity and durability which are extensively used in applications such as automobile and construction. These factors are expected to contribute to its demand over the forecasted year. Cyanoacrylic adhesive possess properties such as low toxicity and fast setting which will make it ideal for application in industrial machine tools, medical devices, household appliances and consumer goods. Moreover, these properties will fuel the growth of cyanoacrylic adhesive market in the coming years.
Major structural adhesives applications include construction, transportation, automobile and furniture. Increasing plastic consumption in transportation industry such as automobile and aircraft is expected to boost the market demand of structural adhesive. Rapid industrialization and increase in government spending for improving public transport and infrastructure for the betterment of the society has anticipated to be the major driving factor of structural adhesives market. Organic solvent based adhesives are used in medical devices and usage of this is growing drastically. Packaging and industrial machinery are anticipated to contribute to structural adhesive market’s demand till 2022 and it has started since 2016.
Taste the market data and market information presented through more than 50 market data tables and figures spread over 125 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Structural Adhesives Market Research Report- Forecast to 2022”
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Based on technology, structural adhesive is segmented into water based and solvent based. Factors such as rapid drying rate, water resistant and semi-flexibility are favoring its usage in various bonding applications such as joint cements, wall covering, household appliances and automotive assembly. Strict environmental regulation regarding presence of VOC in solvent based adhesives has positively impacted the growth of water based adhesives. Government concern regarding exposure to harmful chemicals and volatility in raw material prices can hamper the market in future.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said, “The market of structural adhesives is increasing considerably owing to increase in usage of plastics in the transportation industry such as in automobile and aircraft. Automobile industry is growing due to increase in demand of passenger cars in countries like China, India and Mexico. Growing use of plastic to provide adhesion between dissimilar substrate such as steel &plastics and steel & magnesium is increasing the demand for structural adhesives to be used in window panel, doors, brakes and friction plates. China, India and Japan are witnessing the maximum growth for structural adhesive owing to increase in demand for passenger car. Consequently, these above factors are increasing composites production and these provide better structural integrity and strong bonding within automotive components. Thus, high growth of structural adhesive will be seen in the coming years.
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1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.2 Value Chain/Supply Chain of Global Structural Adhesives Market
5 Industry Overview of Global Structural Adhesives Market
LIST OF TABLES
Table 1 World Population by Major Regions (2015 To 2030) (Billion)
Table 2 Global Structural Adhesives Market: By Region, 2014-2022 (USD Billion)
Table 3 North America Structural Adhesives Market: By Country, 2014-2022 (USD Billion)
Table 4 Europe Structural Adhesives Market: By Country, 2014-2022 (USD Billion)
Table 5 Asia-Pacific Structural Adhesives Market: By Country, 2014-2022 (USD Billion)
Table 6 RoW Structural Adhesives Market: By Country, 2014-2022 (USD Billion)
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