Feb 19, 2021: Global Structural Adhesives Market is estimated to reach USD 23.42 billion by 2022 owing to the growth in automation in developing economies like Brazil, Mexico, China and India. Structural adhesives are the material used to produce a load bearing joint. They are especially used for engineering applications, where joints typically have greater lap shear strengths. Structural adhesives are used in wide range of assembly operations. They do not require drilling holes, or need the heat distortion, but can join disparate without galvanic corrosion. In addition to this, they are responsive to different geometrics, do not need refinishing steps or leave protrusions and give aesthetic appearance.
Structural
adhesives play an important role in the movement of composite materials which
enable significant weight reduction and better stiffness as compared to the
metals. In comparison to the composites, which are not responsive to solvent
welding and where drilling can damage components, structural adhesives are an
excellent choice for these materials. Owing to its increase in demand for
wallpapers, joint cements, automotive assembly applications and household
appliances, structural adhesives market is expected to grow at a CAGR of 6.9%
in the forecast period.
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Structural
adhesives offer exceptional bond strength and speedy curing for different and
similar substrates in the automobile segment, which will certainly affect the
market growth in future. They are formulated to improve the safety &
performance, and lower the vehicle weight. The industry players are emphasizing
on manufacture of special performance products for automobile applications,
used for interior and exterior of vehicles like, hoods, deck lid flanges,
doors, roof panels, and interior dashboards. Improved living standards and
increase in per capita income amongst youth in developing economies is
propelling the growth of automobile market. Also, increasing awareness for
light weight vehicles and fuel economy is expected to augment the market.
Structural
adhesives industry is also driven by the extensive use structural adhesives for
bonding helicopters & aircraft’s components and airframes. They offer high
quality finishing for crucial aircraft fabrication applications like engine
components to control vibrations, edge, and core filling materials for
strengthening structural components and primary substrates, and honeycomb
sandwich panels for stiff interior panels and to reduce weight.
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The
growing global tourism trend, increasing disposable income, and reduced air
fares because of the competition among air liners has resulted to affordable
air travelling, which is expected drive the aerospace industry in the years to
come. With the introduction of modern welfare technologies, increasing military
expenditure to build heavily equipped and lethal fighter planes will also influence
the market in future.
Structural
adhesives industry is categorized on the basis of component, product,
application, end user, and geography. On the basis of component, the market is
divided into single and double component products. Single component is mostly
used in furniture, water & sewer, and leather industries. The double
components are mostly used where safety is a major concern and where bond
failure may have dangerous consequences. Hence, both components are expected to
register significant contributions in the market.
Based
on product, structural adhesives market is divided into polyurethane, epoxy and
acrylic. Epoxy segment is predicted to lead the market due to its excellent
bonding required in wide range end use industries. On the basis of application,
structural adhesives industry is divided into composites, plastics, metals,
wood, concrete & tiles, and leather. Metal segment is expected to hold
larger market share of structural adhesives due to its extensive use in
automotive, building and construction, marine, bus & truck, aerospace, wind
energy, and rail industries.
Based
on end users, structural adhesives market is segmented as automobiles, aviation
& aerospace, and wind energy. Owing to the growing demands for renewable
energy, wind energy will hold larger market share of structural adhesives in
the forecast period. Geographically, the market is segmented as North America,
Europe, Asia Pacific, and Middle East & Africa. Owing to the increase in
demand for structural adhesives form developing economies, Asia Pacific is
expected to dominate market in future.
The
key players in structural adhesives industry include Arkema, Ashland, 3M
Company, Illinois Tool Works, Dow Chemical Company, Lord Corporation, SIKA AG,
L&L Products, Henkel AG, Master Bond, Elantas, Parson Adhesives,
Panacol-Elosol, Hubei Huitian Adhesive Enterprise, Permabond, and Scott Bader.
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