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.
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