Industry News

Structural Adhesives Market to Reach USD 15.72 Billion by 2022

Published on 2017-10-13. Author : SpecialChem

The report "Structural Adhesives Market by Resin (Epoxy, Polyurethane, Acrylic, Methyl Methacrylate, Cyanoacrylate), Substrate (Metals, Plastics, Wood, Composites), Application (Wind Energy, Marine, Rail, Aerospace), and Region - Global Forecast to 2022", The structural adhesives market is projected to grow from USD 10.41 Billion in 2016 to USD 15.72 Billion by 2022, at a CAGR of 7.1% during the forecast period.

Structural Adhesives Market worth 15.72 Billion USD by 2022

Produce Load-bearing Joints

Structural adhesives are capable of producing load-bearing joints that can handle:

  • High stress
  • Provide excellent mechanical performance
  • Enabling weight reduction at the same time.

These also offer excellent strength, durability, and resistance from impact, heat, fatigue, and solvents.

Epoxy Resin Market

  • Epoxy adhesives have a high demand in the structural adhesives market due to their excellent chemical resistance, low shrinkage value, and produce lower quantities of volatile compounds during curing.
  • Epoxy adhesives are used in a wide range of end-use industries, especially in niche applications where excellent bonding strength is required. 
  • These types of adhesives can be used to bond a variety of substrates, such as metals, ceramics, and composites.

Growing Sectors

  • Among applications, the wind energy application in the structural adhesives market is projected to grow at the highest rate from 2017 to 2022. The growing demand for renewable energy over fossil fuel due to the rise in population and to reduce greenhouse gas emissions is leading to the growing demand for wind energy. Use of structural adhesives in the wind industry is increasing due to the increasing use of composites as the material of choice to fabricate and bond wind turbine rotor blades, nacelle assemblies, gearboxes, and towers. Structural adhesives offer the benefit of enabling production of lightweight components, provide outstanding shear and peel strength, faster curing, excellent impact resistance, and durability. These superior qualities are expected to drive the demand for structural adhesives in this application segment during the forecast period.
  • The metals substrate segment of the structural adhesives market is projected to lead the market during the forecast period, 2017 to 2022 and accounted for the largest market share of the structural adhesives market globally in 2016. Structural adhesives are used to bond a wide range of metals and metal alloys in various applications such as automotive, building and construction, marine, bus & truck, aerospace, wind energy, and rail, among others. These are increasingly replacing riveting, welding, and other traditional fastening methods.
  • The Asia Pacific structural adhesives market is expected to lead during the forecast period, 2017 to 2022, which can be attributed to the rising demand for structural adhesives from economies such as India, China, South Korea, Vietnam, Taiwan, and Singapore, among others. Moreover, factors such as the improving standards of living and rising per capita incomes in these countries are also fueling the growth of the Asia Pacific structural adhesives market.

Henkel AG & Co. KGaA (Germany), 3M Company (US), Sika AG (Switzerland), Huntsman International LLC (US), Illinois Tool Works Inc. (US), H.B. Fuller (US), Ashland (US), The Dow Chemical Company (US), Bostik (France), and LORD Corporation (US) are the key players operating in the structural adhesives market.

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Source: MarketsandMarkets™
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