Market Research Report
Structural Adhesive Market Size, Share & Trends Analysis Report; By Product (Urethanes, Acrylic, Epoxy); By Technology; By Application; By Region, And Segment Forecasts, 2019 - 2025
|Published by||Grand View Research, Inc.||Product code||913835|
|Published||Content info||216 Pages
Delivery time: 2-3 business days
|Structural Adhesive Market Size, Share & Trends Analysis Report; By Product (Urethanes, Acrylic, Epoxy); By Technology; By Application; By Region, And Segment Forecasts, 2019 - 2025|
|Published: September 11, 2019||Content info: 216 Pages||
The global structural adhesives market size is expected to reach USD 29.32 billion by 2025, according to a new report by Grand View Research, Inc. expanding at a CAGR of 6.4% over the forecast period. Increasing production of vehicles and aircraft are anticipated to boost the growth of the market.
Replacement of fasteners with advanced adhesives is anticipated to open new market opportunities for vendors over the coming years. Fabricators in aerospace, automotive, wind energy, marine, and other industrial sectors are likely to shift to bonding products in the future. Moreover, the use of these products in industrial applications is also beneficial in the reduction of cost and fast cycle time.
Sustainability is another major driving force in the global structural adhesives market. Adhesives are increasingly being used to create lightweight cars to reduce fuel emissions and to construct energy efficient buildings, which are expected to boost demand for bio-based polymers extracted from renewable resources.
International organizations such as the U.S. Environmental Protection Agency (EPA) and the Food & Drug Association (FDA) have laid down specific regulations and guidelines for structural adhesive production. OTC RACT Rule in North America regulates common pollutants that negatively impact the ozone layer, environment, and human health; it is also increasingly targeting VOC emission limits on a range of final products.
Specific products for marine, industrial, and wind blade applications are now being developed by many companies. For instance, UK based Gurit is focused on the production of adhesives, which are primarily used for infusion and hand layup processes for epoxy-based composites. Yacht building is another niche segment application where positive demand for products has been observed in recent years.
Increasing development of new products is driving market growth. Manufacturers are focused to overcome formulating and technical challenges. This has pushed the use of new designs and materials in industrial manufacturing. Increased demand for bonding with the requirement of flexibility and strength is gaining prominence in the automotive industry. There is also a requirement to reduce the vibrations and noise in the automobiles, which can further boost the products demand in the sector. Large assemblies in buses and commercial trucks are also projected to contribute to industry growth.
Some of the key players present in the structural adhesives market are: 3M Company, DOW, Sika AG, Henkel AG & Co and Ashland Inc. Many players are into development of new products for niche categories. Increasing R&D expenditure to further boost the demand for competition in the industry.