Structural Adhesives Market size worth US$11.798 billion by 2027
Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market for “Structural Adhesives – which is forecasted from 2020 to 2027”.
The prime factors propelling the growth of the Structural Adhesives Market are the growing need for adhesives in construction, rising use in the automotive industry, and planned infrastructure expansions.
As per the report, the market for Structural Adhesives Market is expected to grow at a steady pace
Adhesives known as structural adhesives are used to bind materials like metals, thermoplastics, composites, and others. The market is being driven by the creation of modern passenger cars, light commercial vehicles, and brand-new aircraft that use a lot of composite materials. More uses of lightweight materials with high-performance benefits in automobiles are projected to drive the market. The need for smart and sophisticated construction solutions that increase construction’s efficiency and durability is soaring due to the significant surge in infrastructure development around the world. This has led to an increase in the demand for energy production infrastructure that makes use of structural adhesives to maintain structures that are lightweight, effective, and efficient without compromising structural strength. These factors are expected to drive the future growth of the market.
The Structural Adhesives market has been categorised on the basis of type, industry verticals, and geography.
By type, the market has been classified based on Epoxy, Acrylic, Urethanes, Methyl Methacrylate, and Others. Epoxy is the most commonly used structural adhesive as it can bind a variety of materials, has a high strength, emits few volatile organic compounds (VOCs) during the curing process, and can support heavy loads. Epoxy resin adhesive has seen an upsurge in demand, particularly for applications in the automotive, industrial maintenance, aerospace, and concrete coatings industries.
By industry verticals, The market has been classified based on Automotive, Energy and Power, Construction, Consumer Electronics, Aerospace and Defence, and Others. In order to assure lightweight and impact resistance, the automotive and aerospace sectors have begun to use structural adhesives. The market for automotive additives is being stimulated by the rise of lightweight construction.
Given its rapid industrialization, urbanisation, and high economic growth, Asia-Pacific currently dominates the structural adhesives market and will likely maintain this trend. Due to faster adoption of adhesives in automotive and industrial manufacturing, the Asia-Pacific region is said to hold the highest market share. Additionally, the region is expected to become a lucrative growth market due to the explosive growth of the consumer electronics industry, where structural adhesives are used for conductive films, electronic assembly, and other applications.
The market for structural adhesives was affected as a result of the COVID-19 outbreak. The industry has suffered enormous losses as a result of the shutdown of the majority of sectors, including the construction and automobile industries. Due to fewer passengers and widespread lockdowns, the aerospace industries were also shut down. Due to this, the sector’s overall market demand has decreased, which has reduced revenue.
As a part of the report, the major players operating in the Structural Adhesives market that have been covered are 3M, DuPont de Nemours, Inc., SIKA AG, Scott Bader Company Ltd., ITW Performance Polymers, Arkema, Lord Corporation, Henkel AG, Shanghai Huitian New Material Co., Ltd.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/structural-adhesives-market
This analytics report segments the Structural Adhesives market on the following basis:
- By Type
- Methyl Methacrylate
- By Industry Verticals
- Energy and Power
- Aerospace and Defence
- Consumer Electronics
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
- South Korea
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