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MA20116821 |
Pages: 300 |
Aug 2023 |
Structural Adhesive Overview
A type of glue known as structural adhesives is designed specifically to produce solid, long-lasting bindings between various materials. They are extensively employed in sectors like general manufacturing, construction, electronics, automotive, and aerospace. Compared to conventional bonding techniques like welding or mechanical fasteners (such as screws and bolts), structural adhesives provide several advantages. Adhesives enable the creation of intricate forms and motifs as well as the joining of various materials. They reduce stress concentrations and enable creative product designs by distributing stress uniformly across the bonded region.
Global Structural Adhesive Market Analysis
The global structural adhesive market size was $20.4 billion in 2022 and is predicted to grow with a CAGR of 5.8%, by generating a revenue of $35.8 billion by 2032.
COVID-19 Impact on Global Structural Adhesive Market
The COVID-19 pandemic has had a mixed impact on the structural adhesive market. The pandemic afflicted the automotive, aerospace, and construction industries, all of which rely heavily on structural adhesives. The structural adhesives industry has been harmed by the temporary shutdown of industrial facilities, supply chain glitches, and lower consumer demand for non-essential goods. The pandemic caused demand to go down in some industries while going up in others. For instance, the demand for products like ventilators, diagnostic equipment, and personal protective equipment (PPE) has increased in the market for medical devices. These vital medical gadgets are put together using structural adhesives, which helped the market stay stable and expand in that area.
The need for structural adhesives is anticipated to increase as economies recover from the pandemic's effects and industry start up again. As they pick up steam, sectors like automotive, aerospace, building, electronics, and general manufacturing are projected to propel market expansion. Due to the temporary delay in numerous industries brought on by the COVID-19 pandemic, there was a pent-up demand for goods and services. Manufacturers are expected to increase production operations and structural adhesive demand to meet customer demand and restock inventories.
Growing Demand from End-Use Industries to Drive the Market Growth
The growing demand from numerous end-use sectors, including the automotive, aerospace, construction, electronics, and general manufacturing, is what is driving the global structural adhesive market. Structural adhesives are used in these sectors for tasks like connecting disparate materials, reinforcing structures, and ensuring structural integrity. The expansion of these sectors directly affects the demand for structural adhesives. In sectors like automotive and aircraft, where it is necessary to enhance cargo capacity, reduce emissions, and improve fuel efficiency, there is an increasing focus on lightweighting. In place of conventional mechanical fasteners like screws and rivets, structural adhesives provide lightweight bonding solutions that increase performance and save weight.
High Initial Cost to Restrain Market Growth
Compared to conventional joining techniques like welding or mechanical fastening, structural adhesives can be more expensive. Higher initial costs for producers may be caused by the price of adhesive components, application tools, and curing procedures. The use of structural adhesives may be constrained by this cost factor, particularly in markets or industries where costs are important considerations. Certain substrates or materials may not adhere effectively with structural adhesives. For some plastics, low-surface-energy materials, or materials with unique surface treatments, adhesion can be difficult. Additional surface preparation or the use of primers may be necessary to achieve a strong and long-lasting bond, which might complicate and increase the expense of the bonding procedure.
Growing Demand for Lightweight Materials to Drive Excellent Opportunities
The structural adhesives market has a lot of growth potential owing to the rising demand for lightweight materials in several sectors including automotive, aerospace, and transportation. By joining lightweight materials like composites, aluminium, and high-strength polymers, these adhesives offer strength, durability, and weight savings. The market for lightweight materials and related structural adhesives is expected to grow as manufacturers continue to prioritise fuel efficiency and emissions reduction. The market for electric vehicles is rapidly developing, providing structural adhesives with a significant opportunity. Lightweight components and effective bonding processes are required for EVs to maximise range, performance, and safety. The advantages of structural adhesives include improved crash performance, reduced noise and vibration, and improved sealing.
Global Structural Adhesive Market Share, by Product, 2022
The epoxy sub-segment accounted for the highest share in 2022. Epoxy-based structural adhesives can combine a variety of materials, including metals, composites, plastics, and ceramics owing to their excellent binding strength. Moreover, these adhesives are appropriate for crucial applications in sectors like automotive, aerospace, construction, and electronics because of their ability to form robust and long-lasting bindings. Epoxy adhesives may bond materials that are similar and dissimilar, and they are suitable with a wide range of substrates.
Global Structural Adhesive Market Share, by Technology, 2022
The water-based sub-segment accounted for the highest market size in 2022. The need for water-based structural adhesives is driven by rising environmental laws and an increasing focus on sustainability. In comparison to solvent-based adhesives, water-based adhesives have lower amounts of volatile organic compounds (VOCs), making them more environmentally friendly. By lowering the emission of hazardous chemicals, they assist manufacturers in adhering to strict environmental requirements and achieving sustainability goals. The prevailing consensus is that water-based adhesives are safer and easier to use than solvent-based adhesives. Water-based adhesives are preferred in cramped or poorly ventilated environments due to their lack of strong odours or hazardous emissions, which promotes a better work environment.
Global Structural Adhesive Market Share, by Application, 2022
The construction sub-segment accounted for the highest market size in 2022. Growing urbanisation, infrastructure development, and rising population are the main factors driving the demand for structural adhesives in the construction industry. As construction operations increase, there is a vital need for reliable and efficient bonding solutions to join diverse building materials, including concrete, metal, glass, and composites. The use of structural adhesives enables faster building processes. They provide quick component assembly and bonding, cutting down on overall building time. Adhesives simplify and speed up the construction process by eliminating the need for traditional bonding techniques like welding or mechanical fastening.
Global Structural Adhesive Market Share, by Region, 2022
The Asia Pacific structural adhesive market generated the highest revenue in 2022. The greatest market for structural adhesive is in the Asia Pacific region. The region is seeing significant infrastructure growth and rapid urbanisation. Significant investment is being made in the construction of industrial facilities, residential, and commercial buildings, and transportation infrastructure by countries like China, India, and Southeast Asian countries. To glue and bond different construction materials and create strong, long-lasting structures, structural adhesives are highly in demand in this region.
Competitive Scenario in the Global Structural Adhesive Market
Product development and geographic expansion are the key strategies opted by the major players in the global structural adhesive market. Some of the leading structural adhesive market players are Henkel AG & Co. KGaA, Dow, 3M, HB Fuller Company, Franklin International, Inc., Arkema S.A., Avery Dennison Corporation, Ashland Global Specialty Chemicals Inc., Scott Bader Co., and Lord Corporation.
| Aspect | Particulars |
| Historical Market Estimations | 2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Product |
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| Segmentation by Technology |
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| Segmentation by Application |
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| Key Companies Profiled |
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