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Rising Demand in Automotive to Drive Structural Adhesives Market: MarketsandMarkets

Published on 2016-07-14. Author : SpecialChem

The report "Structural Adhesive Market by Type (Epoxy, Polyurethane, Acrylic, Methyl Methacrylate, Cyanoacrylate & Others), by Application (Building & Construction, Bus & Truck, Automotive, Aerospace, Marine, Wind Energy & Others) - Global Forecast to 2021", The market size of structural adhesives is estimated to grow from USD 9.14 Billion in 2016 to USD 12.74 Billion by 2021, registering a CAGR of 6.9% between 2016 and 2021.

The market is driven by the rising demand of structural adhesives in the growing automotive, bus & truck, and aerospace applications among others. Rising awareness of high-quality products and demand from Asia-Pacific that is experiencing substantial growth fueled by the regions increasing population will also drive the market.

Building & construction is the largest application of structural adhesives

Structural adhesives are used in various applications such as building & construction, bus & truck, automotive, and aerospace among others. In 2015, the building & construction application accounted for the largest market share, in terms of value. It is driven by the demand from construction of bridges, dams, airports, railroad crossing, tunneling, and other infrastructural activities. Structural adhesives are demanded as these applications demand flexibility to withstand extreme weather conditions, load bearing capacity, durable, and must have excellent viscosity to meet application requirements

Epoxy is the fastest-growing resin type of structural adhesives

Epoxy is the fastest-growing resin type of structural adhesives, globally. Epoxy adhesives are significantly used in the structural adhesives market due to their excellent chemical resistance, low shrinkage value, and less volatile compounds produced during curing. Epoxy adhesives can be used in a wide range of end-use industries, especially in niche applications where excellent bonding strength is required. This type of adhesives can be used to bond a variety of substrates such as metals, ceramics, and composites.

Rising demand in Asia-Pacific is the major driver of the structural adhesives market
In 2015, Asia-Pacific accounted for the largest market share, in terms of both volume and value. The high demand in Asia-Pacific is expected to be the major driver for the global structural adhesives market. This is due to the increasing demand from automotive, building & construction, bus & truck, and aerospace applications. The growing interest of manufactures to develop high quality products, rising population in the region, and growing innovation and developments in end-use industries are making the region a strategic destination for the structural adhesives market.

The players profiled include Henkel AG (Germany), 3M (U.S.), Ashland (U.S.), Dow Chemical Company (U.S.), SIKA AG (Switzerland), Scott Bader (England), Arkema (France), Lord Corporation (U.S.), Hubei Huitian Adhesive Enterprise Co. (China), ITW (U.S.), and other regional players.

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Source: MarketsandMarkets


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