TAGS: Epoxy Adhesives Polyurethane Adhesives Acrylic Adhesives
Markets and Markets (M&M) anticipates that the market size for Americas structural adhesives is projected to USD 3.8 billion by 2026 from USD 3.0 billion in 2021, at a CAGR of 5.1% during the 2021-2026 forecast period.
The growth of the structural adhesives market is primarily driven by the increasing use of modified epoxies and polyurethane adhesives, along with increasing penetration of methyl methacrylate adhesives in wind energy, marine, building & construction, and automotive applications.
Epoxy: Largest Structural Adhesives Type
Epoxy is the largest type in the Americas structural adhesives market in terms of volume. Epoxy adhesives are significantly used in the structural adhesives market owing to their excellent chemical resistance, low shrinkage value, and less volatile compounds produced during curing.
These adhesives are formulated according to the end-application requirements. For aerospace, high-performance epoxy adhesives are formulated with different epoxy resins and hardeners in comparison to the ones used in the construction industry.
Wind energy is the fastest-growing application in Americas structural adhesives market, in terms of volume. The demand for wind energy is increasing due to its environmental benefits. It reduces dependence on fossil fuels for our energy requirements. The wind energy industry also offers the benefits of reducing greenhouse gases emission and enables the reduction of costs of power generation as compared to energy derived from nuclear or thermal power.
Highest Growth in North America
North America is projected to lead the Americas structural adhesives market and this dominance is expected to continue till 2026. The use of structural adhesives, such as epoxy, polyurethane, and acrylic, is very popular in the region. The North American market is highly regulated by the EPA (Environment Protection Agency), playing a key role in the monitoring and commercialization of structural adhesives products.
The North American market has been a leader for structural adhesives product innovation, in terms of improved performance, quality of adhesives, and new application development in aerospace, automotive, and wind energy industries. The key countries in the North American market are the US (the most dominant market, accounting for a significant market share), Mexico, and Canada.
Source: Markets and Markets