Looking at the current market trends as well as the promising demand status of the "Structural Adhesives Market", it can be projected that the future years will bring out positive outcomes. This research report added by MRRSE on its online portal delivers clear insight about the changing tendencies across the global market. Readers can gather prime facets connected to the target market which includes product, end-use and application; assisting them to draw conclusions out of this intelligent research report. The global 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%.
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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-based 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.Stiff competition between the key market 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.
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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.
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