Product Code: CH 3546
"The structural adhesives market is projected to register a CAGR of 6.8%, in terms of value, between 2019 and 2024"
The structural adhesives market is expected to grow from USD 14.0 billion in 2019 to USD 19.4 billion by 2024, at a CAGR of 6.9%, between 2019 and 2024. APAC is the largest consumer of structural adhesives. Low-cost of manufacturing in APAC countries and high demand for structural adhesives in the region are driving its market growth.
Cyanoacrylate is the fastest-growing resin type of the structural adhesives market.
Among resins, cyanoacrylate segment is projected to grow at the highest CAGR during the forecast period. Cyanoacrylate-based structural adhesives offer distinct advantages as these are one-part solvent-free adhesives that cure immediately at room temperature and offer high bonding strength. These, therefore, provide optimized and efficient bonding solutions for various substrates.
Composites are projected to be the fastest-growing substrate bonded with structural adhesives market.
The composites substrate segment is projected to grow at the highest CAGR during the forecast period, 2019 to 2024. The use of composites in different applications reduce weight and increase efficiency, as composite materials (fiber reinforced plastic and glass fiber reinforced plastic) are lighter than metals, concrete, and brick. These structural adhesives provide strong bonds and high chemical & heat resistance.
APAC is the largest and projected to be the fastest-growing structural adhesives market.
APAC is the largest as well as fastest-growing structural adhesives market. It encompasses a diverse range of economies with different levels of economic development and multiple industries. Growth is attributed mainly to booming economies such as China, India, and Taiwan, among other few smaller countries, such as Indonesia, and Vietnam.
China is the leader in the market for structural adhesives in terms of demand in the Asia Pacific. India is a rapidly emerging nation in the market due to the growth in various applications in the use of structural adhesives. The key market players are expanding their structural adhesives production in APAC, especially in China and India.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in structural adhesives market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments.
- By Company Type: Tier 1 - 30%, Tier 2 - 30%, and Tier 3 - 40%
- By Designation: C Level - 20%, D Level - 30%, and Others - 50%
- By Region: North America - 20%, APAC - 40%, Europe - 20%, South America- 10%, and Middle East & Africa - 10%
The key companies profiled in this report are: the Henkel (Germany), Huntsman (US), 3M (US), H.B. Fuller (US), Sika (Switzerland), Illinois Tool Works (US).
Research Coverage:
This report provides detailed segmentation of the structural adhesives market based on substrate, technology, resin type, application, and region. Based on the substrate, the market has been segmented into metals, plastics, wood, composites, and others. Technology is divided into solvent-based, water-based, and others. With respect to resin type, the structural adhesives market has been segmented into epoxy, polyurethane, acrylic, methyl methacrylate, cyanoacrylate, and others. Based on application, the market has been segmented into building & construction, bus & truck, automotive, wind energy, marine, rail, aerospace, and others. Based on the region, the market has been segmented into the Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
Key Benefits of Buying the Report:
From an insight perspective, this research report focuses on various levels of analyses - industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 MARKET SCOPE
- 1.3.1 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY
- 1.5 UNIT CONSIDERED
- 1.6 LIMITATIONS
- 1.7 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key data from primary sources
- 2.1.2.2 Key industry insights
- 2.1.2.3 Breakdown of primary interviews
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.2 TOP-DOWN APPROACH
- 2.3 DATA TRIANGULATION
- 2.4 ASSUMPTIONS
- 2.5 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES IN THE STRUCTURAL ADHESIVES MARKET
- 4.2 STRUCTURAL ADHESIVES MARKET GROWTH, BY RESIN TYPE
- 4.3 APAC STRUCTURAL ADHESIVES MARKET SHARE, BY APPLICATION AND COUNTRY
- 4.4 STRUCTURAL ADHESIVES MARKET, BY MAJOR COUNTRIES
- 4.5 STRUCTURAL ADHESIVES MARKET: DEVELOPED VS. DEVELOPING COUNTRIES
- 4.6 STRUCTURAL ADHESIVES MARKET: GROWING DEMAND FROM APAC
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Growing trend for lightweight and low carbon-emitting vehicles
- 5.2.1.2 Increasing demand for structural adhesives in aerospace industry
- 5.2.1.3 High demand for adhesives in building & construction and wind energy applications
- 5.2.2 RESTRAINTS
- 5.2.2.1 Stringent environmental regulations in North American and European countries
- 5.2.2.2 Different characteristic limitations of various adhesives
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Increasing demand for non-hazardous, green, and sustainable structural adhesives
- 5.2.4 CHALLENGES
- 5.2.4.1 Limited market opportunities in developed countries
- 5.2.4.2 Changing regulatory policies and standards
- 5.3 PORTER'S FIVE FORCES ANALYSIS
- 5.3.1 THREAT OF NEW ENTRANTS
- 5.3.2 THREAT OF SUBSTITUTES
- 5.3.3 BARGAINING POWER OF BUYERS
- 5.3.4 BARGAINING POWER OF SUPPLIERS
- 5.3.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.4 MACROECONOMIC INDICATORS
- 5.4.1 TRENDS AND FORECAST OF GDP
- 5.4.2 TRENDS IN CONSTRUCTION INDUSTRY
- 5.4.3 TRENDS IN AUTOMOTIVE INDUSTRY
- 5.4.4 TRENDS AND FORECAST IN AEROSPACE INDUSTRY
- 5.4.5 TRENDS AND FORECAST IN WIND ENERGY INDUSTRY
6 STRUCTURAL ADHESIVES MARKET, BY SUBSTRATE
- 6.1 INTRODUCTION
- 6.2 METALS
- 6.2.1 METAL BONDING ADHESIVES ARE GAINING MOMENTUM DUE TO UNIFORM DISTRIBUTION OF ADHESIVES
- 6.3 PLASTICS
- 6.3.1 PLASTICS CAN BE RELIABLY FASTENED TO A WIDE VARIETY OF OTHER SUBSTRATES USING AN ENGINEERED ADHESIVE SOLUTION
- 6.4 WOOD
- 6.4.1 BONDING OF WOODS EVENLY DISTRIBUTES THE WEIGHT AND MAKES THE STRUCTURE LIGHTER
- 6.5 COMPOSITES
- 6.5.1 COMPOSITE BONDING ADHESIVES ARE IN HIGH DEMAND DUE TO THEIR STRONG BONDING AND HIGH CHEMICAL & HEAT RESISTANCE
- 6.6 OTHERS
7 STRUCTURAL ADHESIVES MARKET, BY RESIN
- 7.1 INTRODUCTION
- 7.2 EPOXY
- 7.2.1 EPOXY-BASED STRUCTURAL ADHESIVES ARE THE MOST COMMONLY USED ADHESIVES IN INDUSTRIAL, AUTOMOTIVE, CONSTRUCTION, AND AEROSPACE APPLICATIONS
- 7.3 POLYURETHANE (PU)
- 7.3.1 PU-BASED STRUCTURAL ADHESIVES ARE USED EXTENSIVELY IN AUTOMOTIVE & TRANSPORTATION APPLICATIONS BECAUSE OF THEIR VERSATILITY AND HIGH STRENGTH
- 7.4 ACRYLIC
- 7.4.1 ACRYLIC-BASED STRUCTURAL ADHESIVES CAN EASILY JOIN OR BOND DISSIMILAR SUBSTRATES
- 7.5 METHYL METHACRYLATE (MMA)
- 7.5.1 MMA-BASED STRUCTURAL ADHESIVES HAVE THE ABILITY TO BOND WITH A VARIETY OF DISSIMILAR SUBSTRATES BY IMPROVING THE FUNCTIONALITY OF ADHESIVES
- 7.6 CYANOACRYLATE
- 7.6.1 CYANOACRYLATE-BASED STRUCTURAL ADHESIVES OFFER EXCELLENT ADHESION WITH MANY SUBSTRATES
- 7.7 OTHERS
8 STRUCTURAL ADHESIVES MARKET, BY TECHNOLOGY
- 8.1 INTRODUCTION
- 8.2 SOLVENT-BASED & REACTIVE
- 8.2.1 THE SOLVENT-BASED & REACTIVE TECHNOLOGY ACCOUNTS FOR MORE THAN HALF OF THE TOTAL MARKET SIZE, IN TERMS OF BOTH VALUE AND VOLUME
- 8.3 WATER-BASED
- 8.3.1 WATER-BASED ADHESIVES ARE COMPLETELY SOLVENT-FREE AND HAVE LOW VOCS
- 8.4 OTHERS
9 STRUCTURAL ADHESIVES MARKET, BY APPLICATION
- 9.1 INTRODUCTION
- 9.2 BUILDING & CONSTRUCTION
- 9.2.1 STRENGTH, EXCELLENT QUALITY OF FINISH, IMPROVED TENSILE STRENGTH, AESTHETICS, IMPROVED PRODUCTIVITY, AND REDUCED MANUFACTURING COSTS OFFERED BY STRUCTURAL ADHESIVES, MAKE THEM USEFUL IN THIS APPLICATION SEGMENT
- 9.3 BUS & TRUCK
- 9.3.1 THE USE OF STRUCTURAL ADHESIVES RENDER OUTSTANDING DURABILITY, AESTHETIC APPEAL, AND SAFETY TO THE TOUGHEST COMMERCIAL BUS DESIGNS AND HEAVY-DUTY TRUCKS
- 9.4 AUTOMOTIVE
- 9.4.1 THE USE OF STRUCTURAL ADHESIVES HELPS IN LIGHTWEIGHTING AND HIGHER IMPACT RESISTANCE OF VEHICLES
- 9.5 AEROSPACE
- 9.5.1 INCREASING AIR TRAFFIC IS LEADING TO THE HIGHER DEMAND FOR STRUCTURAL ADHESIVES IN AEROSPACE APPLICATIONS
- 9.6 WIND ENERGY
- 9.6.1 INCREASING FOCUS ON GREEN ENERGY SOURCES IS EXPECTED TO DRIVE THE DEMAND
- 9.7 MARINE
- 9.7.1 INCREASING USE OF PLASTIC AND COMPOSITES IN FABRICATING BOATS IS BOOSTING THE DEMAND
- 9.8 RAIL
- 9.8.1 THE GROWING DEMAND FOR HIGH SPEED AND LIGHTWEIGHT STRUCTURES IS CONTRIBUTING TO THE GROWTH OF THE MARKET IN THIS APPLICATION
- 9.9 OTHER APPLICATIONS
10 STRUCTURAL ADHESIVES MARKET, BY REGION
- 10.1 INTRODUCTION
- 10.2 APAC
- 10.2.1 STRUCTURAL ADHESIVES MARKET, BY TECHNOLOGY
- 10.2.2 STRUCTURAL ADHESIVES MARKET, BY RESIN
- 10.2.3 STRUCTURAL ADHESIVES MARKET, BY APPLICATION
- 10.2.4 CHINA
- 10.2.4.1 China accounted for the largest share of the structural adhesives market in APAC
- 10.2.5 JAPAN
- 10.2.5.1 Japan witnessing a decline in growth due to the maturity of the adhesives market
- 10.2.6 INDIA
- 10.2.6.1 India is the fastest-growing structural adhesives market in APAC and globally
- 10.2.7 SOUTH KOREA
- 10.2.7.1 Aerospace industry is expected to lead the structural adhesives market in South Korea
- 10.2.8 INDONESIA
- 10.2.8.1 Indonesia is witnessing steady growth, which is driven by domestic consumption and improved infrastructural investments
- 10.2.9 TAIWAN
- 10.2.9.1 High investments in the transportation will drive the structural adhesives market in Taiwan
- 10.2.10 THAILAND
- 10.2.10.1 Rapid industrialization and increasing consumer spending are expected to boost the demand for structural adhesives
- 10.2.11 VIETNAM
- 10.2.11.1 Increasing supply for the parts of cabins and storage cabins will boost the structural adhesives market in Vietnam
- 10.2.12 REST OF APAC
- 10.3 NORTH AMERICA
- 10.3.1 STRUCTURAL ADHESIVES MARKET, BY RESIN
- 10.3.2 STRUCTURAL ADHESIVES MARKET, BY APPLICATION
- 10.3.3 US
- 10.3.3.1 Aerospace industry highly dominates the US structural adhesives market
- 10.3.4 CANADA
- 10.3.4.1 Bus & truck is a major application of structural adhesives
- 10.3.5 MEXICO
- 10.3.5.1 The wind energy sector is expected to be the fastest-growing application segment of the structural adhesives market
- 10.4 EUROPE
- 10.4.1 STRUCTURAL ADHESIVES MARKET, BY RESIN
- 10.4.2 STRUCTURAL ADHESIVES MARKET, BY APPLICATION
- 10.4.3 GERMANY
- 10.4.3.1 Manufacturing and construction industry will continue to drive the structural adhesives market
- 10.4.4 FRANCE
- 10.4.4.1 The fast growth of the automotive industry is expected to drive the demand for structural adhesives
- 10.4.5 ITALY
- 10.4.5.1 The growth in the wind energy sector is expected to increase the demand for structural adhesives
- 10.4.6 UK
- 10.4.6.1 Aerospace is one of the major applications of structural adhesives in the UK
- 10.4.7 RUSSIA
- 10.4.7.1 Russia was one of the fastest-growing markets in the region for many years
- 10.4.8 TURKEY
- 10.4.8.1 Turkey is rapidly emerging as one of the fastest-growing markets in Europe, owing to the current economic situation
- 10.4.8.2 Rest of Europe
- 10.5 SOUTH AMERICA
- 10.5.1 STRUCTURAL ADHESIVES MARKET, BY RESIN
- 10.5.2 STRUCTURAL ADHESIVES MARKET, BY APPLICATION
- 10.5.3 BRAZIL
- 10.5.3.1 Brazil accounted for the largest share of the South American structural adhesives market
- 10.5.4 ARGENTINA
- 10.5.4.1 The high dependence on imports is restraining the market growth
- 10.5.5 REST OF SOUTH AMERICA
- 10.6 MIDDLE EAST & AFRICA
- 10.6.1 STRUCTURAL ADHESIVES MARKET, BY RESIN
- 10.6.2 STRUCTURAL ADHESIVES MARKET, BY APPLICATION
- 10.6.3 SAUDI ARABIA
- 10.6.3.1 Automotive industry to dominate the structural adhesives market
- 10.6.4 AFRICA
- 10.6.4.1 Limited applications of structural adhesives to pose a challenge to the growth of the market
- 10.6.5 REST OF MIDDLE EAST & AFRICA
11 COMPETITIVE LANDSCAPE
- 11.1 OVERVIEW
- 11.2 COMPETITIVE LEADERSHIP MAPPING, 2018
- 11.2.1 VISIONARY LEADERS
- 11.2.2 INNOVATORS
- 11.2.3 DYNAMIC DIFFERENTIATORS
- 11.2.4 EMERGING COMPANIES
- 11.3 COMPETITIVE BENCHMARKING
- 11.3.1 STRENGTH OF PRODUCT PORTFOLIO
- 11.3.2 BUSINESS STRATEGY EXCELLENCE
- 11.4 MARKET RANKING, 2018
- 11.5 COMPETITIVE SCENARIO
- 11.5.1 INVESTMENT & EXPANSION
- 11.5.2 MERGER & ACQUISITION
- 11.5.3 NEW PRODUCT LAUNCH
- 11.5.4 PARTNERSHIP & AGREEMENT
12 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
- 12.1 HENKEL AG & CO. KGAA
- 12.2 SIKA AG
- 12.3 3M
- 12.4 DUPONT (DOWDUPONT)
- 12.5 HUNTSMAN INTERNATIONAL LLC.
- 12.6 ILLINOIS TOOL WORKS INC.
- 12.7 ARKEMA (BOSTIK)
- 12.8 H.B. FULLER
- 12.9 ASHLAND
- 12.10 LORD CORPORATION
- 12.11 MAPEI S.P.A
- 12.12 HUBEI HUITIAN NEW MATERIALS CO., LTD.
- 12.13 SCOTT BADER COMPANY LTD.
- 12.14 PERMABOND LLC.
- 12.15 SCIGRIP
- 12.16 L&L PRODUCTS
- 12.17 MASTER BOND INC.
- 12.18 PARSON ADHESIVES, INC.
- 12.19 DELO INDUSTRIE KLEBSTOFFE GMBH & CO. KGAA
- 12.20 DYMAX CORPORATION
- 12.21 HERNON MANUFACTURING INC.
- 12.22 WEICON GMBH & CO. KG
- 12.23 PANACOL-ELOSOL GMBH
- 12.24 UNISEAL, INC.
- 12.25 RIED B.V.
Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
13 APPENDIX
- 13.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
- 13.2 DISCUSSION GUIDE
- 13.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 13.4 AVAILABLE CUSTOMIZATIONS
- 13.5 RELATED REPORTS
- 13.6 AUTHOR DETAILS
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