Structural Adhesives Market size will likely cross USD 7 billion by 2024 with gains at over 4% between 2016 and 2024 due to a unique ability to offer excellent bond strength and fast curing capability for both similar and dissimilar substrate in automobile industry.
The product is used to reduce total vehicle weight while also increasing performance and safety. These speciality adhesives are employed in hoods, doors, deck lid flanges, roof panels, and interior dashboards for both external and interior applications in automobiles. The vehicle market will be propelled by expanding middle-class spending power and rising living standards in emerging economies. Increased awareness of the benefits of light-weight automobiles and fuel economy would also benefit the structural adhesives market share throughout the projection period.
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Another element driving structural adhesive demand is the widespread use of the glue in attaching airframes and aircraft and helicopter components. These specialty adhesives provide the high-quality finish required for critical aircraft fabrication applications such as the bonding of honeycomb sandwich panels to provide rigidity to interior panels and weight reduction, core filling materials to provide reinforcement on primary substrates and structural components, and so on.
Rising disposable income, a growing trend of worldwide tourism, and lower air fares as a result of fierce rivalry among airlines have resulted in more cheap air travel, propelling the aerospace industry’s growth over the predicted period. In the foreseeable future, rising military spending on highly manoeuvrable, lightweight, and strongly equipped fighter jets will further increase product demand. However, in the forecast timeframe, rigorous government regulations regulating adhesives and sealants utilised in the aerospace industry may stymie the structural adhesives market.
The structural adhesives industry research study covers the market in depth, with estimations and forecasts in terms of volume in kilo tonnes and revenue in USD million for the following segments from 2016 to 2024:
● Methyl methacrylate
● Concrete & tiles
Competitive Market Share
Some of the major manufacturers in the structural adhesives industry are Lord Corporation, 3M Company, Scott Bader, Illinois Tool Works, Arkema, Henkel AG, Ashland, SIKA AG, Dow Chemical Company, L&L Products, Panacol-Elosol, Master Bond, Elantas, Parson Adhesives, and Permabond.
The structural adhesives market in Asia Pacific was valued at over USD 2 billion in 2015, and it is expected to increase at a rate of over 4% over the forecast period. Government measures, as well as corporate and public expenditures, have resulted in rising building spending in China and India. Several automobile manufacturers have established production plants in Asia Pacific emerging countries due to the availability of low-cost labour and raw materials, as well as a favourable environment. The regional product market will also benefit from well-established shipbuilding sectors in South Korea, China, and Japan.
Stakeholders’ key benefits
● Porter’s five forces analysis aids strategy development by analysing the potential of buyers and suppliers, as well as the competitive landscape of the sector.
● It examines current structural adhesives market trends and forecasts for the years 2020 to 2030 in order to identify current opportunities and possible investment areas.
● The region’s key countries have been plotted based on their individual revenue contributions to the regional market.
● The paper explains the primary drivers, restrictions, and opportunities, as well as their full effect analysis.
● The study includes profiles of important players as well as their key strategic advancements.
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