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Structural Adhesives Market to register high growth from construction industry by 2024; Illinois Tool Works, 3M Company, Lord Corporation, Scott Bader, Arkema are leading players

Author : Rahul Varpe | Published Date : 2019-04-11 

Global Market Insights provides a detailed overview of Structural Adhesives market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Structural Adhesives market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Structural Adhesives Market in Asia pacific is expected be the most lucrative due to increased construction activities, rising automobile production, and high growth in the aviation sectors. In 2015, the region registered revenue exceeding USD 2 billion. Presence of large automobile manufacturers, developed aviation sector and increasing construction spending will be the major factors behind the growth of North America structural adhesives market. The region is anticipated to occupy more than 20% of the total industry during the forecast period.

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Structural Adhesives Market will likely surpass USD 7 billion by 2024 according to this new research report.

High growth in the construction industry will augment the global structural adhesives market growth during the forecast years. The product is extensively used for construction activities such as bonding wood materials, ceramics, composite fiber materials, glass, stone, etc. Rapid urbanization and industrialization in developing countries has led to a boost in the worldwide construction industry which is expected to be valued at more than USD 16 billion in 2024. In 2015, construction industry market value was about USD 8 trillion and is anticipated to grow with around 8% CAGR.

Key participants in the global structural adhesives market are;

  • Illinois Tool Works
  • 3M Company
  • Lord Corporation
  • Scott Bader
  • Arkema
  • L&L Products
  • SIKA AG
  • Dow Chemical Company
  • Henkel AG
  • Ashland
  • Master Bond
  • Elantas
  • Hubei Huitian Adhesive Enterprise
  • Parson Adhesives
  • Permabond
  • Panacol-Elosol

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Structural adhesives market based on component is categorized as double and single component. Double component segment is anticipated to account for more than 60% of overall share during the forecast period and the segments growth will be propelled by its usage in linking joints bearing high loads. In 2015, single component segment generated revenue above USD 2 billion and is estimated to grow with a CAGR of 4.5% during the forecast period.

Global structural adhesives market includes six major product types which are polyurethane, epoxy, acrylic, cyanoacrylate, methyl methacrylate, and silicone. Polyurethanes segment occupied more than half of overall market and this segment will witness steady growth owing to its usage in aviation and automotive sectors. Epoxy is also a significant product segment with above 25% share of the overall market in terms of volume.

Composites, metals, plastics, concrete & tiles, wood and leather are the six application segments of the global structural adhesives market. In 2015, composites segment occupied more than 30% of the overall increasing usage in aviation and automotive sector. Plastics application segment will likely grow by a CAGR of around 4.5% and in 2015 the segment registered revenue above USD 1 billion.

End-user segments in the global structural adhesives market include automobiles, aviation & aerospace, marine, construction, furniture, water & sewer, and others. In 2015, automobiles generated above USD 1 billion and will be a major application segment. Rising purchasing power of consumers coupled with availability of affordable vehicles will be the major contributing factor for this segment. Aviation & aerospace end-user segment is anticipated to grow above 4% CAGR during the forecast period. Increasing number of air travelers along with rising number of commercial airlines will boost the segments growth.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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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