Structural Adhesives Market Analysis by Size, Emerging Trends, Qualitative Outlook – Global Forecast to 2030 | Lord Corporation, Scott Bader Co., Sika AG – San Juan Independent

2022-06-23 08:44:37 By : Ms. carlen shu

New York , United States- Report Ocean publicize new report on the structural adhesives market. The structural adhesives market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the structural adhesives market growth. Additionally, the database analyzes and estimates the structural adhesives market both globally and regionally.

The structural adhesives market was valued at more than $14 billion in 2020. In addition, the market is forecast to grow at a CAGR of more than 6% from 2021 to 2027.

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Structured adhesives, also known as load-bearing adhesives, are materials capable of adhering to surfaces that have similar or dissimilar characteristics to one another at the point of contact. Despite being susceptible to shock, vibrations, and temperature changes, these adhesives can resist forces for long periods and hold surfaces firmly together. In addition to bonding metal, wood, composites, plastic, and ceramic materials, these adhesives are used for bonding different substrate materials. There are several types of products that contribute to the formulation of structural adhesives, such as epoxy, UV curable products, methacrylates, polyurethane, and cyanoacrylates.

Market Overview: the Structural Adhesives Market

Plastic and aluminum are lightweight materials that aid in reducing vehicle weight and enhancing fuel efficiency. Demand for structural adhesive products will benefit from the adhesive needs for steel and magnesium, steel and plastic, and others. Moreover, plastic products used in the automotive industry are being increased in demand as lightweight materials become further popular.

The fabrication of various vehicle components are necessary, among which are window attachments, enclosures, doors, and body panels. In addition, non-traditional uses for rubber have been expanding, such as engines, dashboards, frames, and weather strips.

Due to the wide application and growing penetration of acrylics, the market is expected to present vendors with significant opportunities. Materials such as composites, metals, and plastics can be joined with these products. Despite their high-temperature resistance and impact absorption, they are very durable.

The aerospace sector in developed economies is expected to expand and produce more aircraft, which in turn will boost industry demand. The aeronautics industry has experienced a positive trend in composites demand for more than a decade.

The construction industry requires a large number of bonding products, including flooring, roofing, and lamination. An expected boost to industry growth comes from investments in airports, educational institutions, hospitals, industrial buildings, and water infrastructure.

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Covid-19 Impact: the Structural Adhesives Market

Due to its dependence on sectors such as automotive, aerospace, energy, and others, the structural adhesives market has been negatively affected by the Covid-19 pandemic.

Some automotive companies have either closed down or shrunk their workforce due to health risks caused by structural adhesives, a common bonding material for hoods, panels, grills, and other parts. During the Covid-19 period, the demand for structural adhesives was temporarily curtailed.

In the aerospace sector, demand for structural adhesives declined due to the declining income of customers and international travel restrictions.

During Covid-19, several aircraft manufacturing projects have been suspended, which, in turn, has lowered the demand for structural adhesives in the aerospace & aviation sectors.

A temporary halt in various building & construction projects during the COVID-19 period has led to a decline in demand for structural adhesives among the construction sectors.

Regional Outlook: the Structural Adhesives Market

The Asia Pacific dominated the market. India, China, and Southeast Asia have high populations and economic growth, and their industrial output has grown rapidly. It is expected that China will remain a key consumer and producer in the region.

During the forecast period, Europe is expected to attain a lucrative CAGR, owing to vehicle production in Germany, France, Italy, and Spain. Growth in the region is forecast to be boosted by an increase in the need for bonding materials for substrates like glass, plastic, metal, and composites.

Construction and manufacturing sectors in Brazil and Argentina are primarily responsible for Central & South America’s growth.

Key Market Players: the Structural Adhesives Market

The major companies profiled in the structural adhesives Market are:

Henkel Ag & Co. KGAA

Market Segmentation: the Structural Adhesives Market

The structural adhesives market is segmented by Substrate, Product Type, Resin Type, Application, and Region.

Segmentation based on Product Type

Segmentation based on Resin Type

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Key questions answered in the global chemical market report are:

— How does a global company acquire markets? — What are its core strategies and policies? — What factors will influence the chemical market over the forecast period? — What are the factors driving and restraining the market for chemicals? — What are the leading competitors in the global market? — Which region is growing at a higher pace in the global market?

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