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Structural Adhesives Market to witness remarkable proceeds over 2024, global industry valuation to exceed $7bn by 2024

Author : Rahul Varpe | Published Date : 2019-03-26 

North America structural adhesives market will generate significant revenue by the end of 2024, owing to the surging infrastructure development along with growing advancements in the aviation industry. U.S. and Canada will be the prominent revenue contributors toward North America market share.

Pertaining to the widespread availability of vehicles along with the rising spending capability of consumers, the sale of automobiles across the globe will observe a massive incline. On these grounds, the automotive segment of structural adhesives industry, having had a revenue of USD 1 billion in 2015, will record a notable growth rate over the years ahead.

Asia Pacific structural adhesives industry collected a revenue of USD 2 billion in 2015 and will register considerable annual growth rate over the period of 2016 to 2024. The regional governments have been investing heavily in construction activities across this geography. Moreover, many of the automotive industry giants are establishing their manufacturing plants in various developing countries of APAC. Japan, India, South Korea, and China will contribute substantially toward the regional growth.

To access a sample copy or view the Structural Adhesives Market report in detail along with the table of contents, please click the link below: https://www.gminsights.com/request-sample/detail/315

Owing to numerous product properties that help enhance the performance and safety of vehicles, Structural Adhesives Market has been gaining renewed popularity of late. This product is used primarily to reduce the overall weight of automobiles. In addition, a perpetual change in the living standards coupled with a rise in the per capita income has led to an increase in the automobile production and sales, which will fuel structural adhesives market

Report Metric  

  • Market Size available for years:  2016-2024
     
  • Base year considered:  2016
     
  • Forecast period:  2019–2024
     
  • Forecast Value:    7 bn (USD)
     
  • Segments covered:   Component, Product, Application, End-User, Regional Outlook  
     
  • Geographies covered:   North America, Europe, Asia Pacific, Latin America, Middle East & Africa
     
  • Companies covered:    The 3M Company, Henkel AG, Lord Corporation, Arkema, SIKA AG, The Dow Chemical Company, Ashland, Hubei Huitian Adhesive Enterprise Co., Illinois Tool Works, Master Bond Inc., Permabond, Panacol-Elosol GmbH, Elantas, Parson Adhesives, Inc., L&L Products

Polyurethane is extensively used in the aviation and automotive sector, on account of its strong bonding strength. Polyurethane dominated the overall structural adhesives market by accounting for 50% of the share in 2015 and will collect considerable revenue by the end of 2024. This product exhibits a sizable demand pertaining to its cost effectiveness and flexibility.

The growing polyurethanes (PU) market will also contribute toward the development of structural adhesives industry. Aviation and aerospace end user segment of structural adhesives market will register an annual growth rate of above 4% over the coming seven years. this product is prominently used due to its notable mechanical characteristics such as superior compressive strength, high glass transition temperature, excellent durability & toughness and cyclic fatigue resistance capability.

Structural adhesives are widely used as bonding agents to avoid the usage of rivets, welds, and screws in bonding plastic materials. In addition, this product is used to improve the mechanical and aesthetic properties of plastics as well. On these grounds, structural adhesives market from plastic applications collected a revenue of USD 1 billion in 2015 and will generate significant revenue by 2024 with a CAGR of 4.5% over the coming timeframe.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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