Bonding of Composite Materials to Fuel Global Structural Adhesives Market Growth till 2030

 Structural Adhesives Market Overview

Structural Adhesives Market is projected to be worth USD 30 Billion by 2030, registering a CAGR of 9% during the forecast period (2022 – 2030), The market was valued at USD 18.3 billion in 2016.

Better adhesion is largely used in the automotive sector between distinct substrates like plastics and steel, structural adhesives are used. These adhesives are commonly used in clutch plates, brakes, window glass attachments, doors, and various other parts. The presence of properties like strong bonding and structural integrity enables them to be used in several end-user industries. Moreover, these structural adhesives are available in different types to fulfill the requirement of almost all specifications like for rigid joining such as household appliances, joint cement, automotive assembly, and furniture panels water-based structural adhesives are used.

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Restraints

Though the Structural Adhesives Market is increasing tremendously in the global market, some factors restrict the market growth. Increasing fluctuations in the cost of raw material used results in fluctuations in the final products of adhesives which is sometimes not afforded by all and hence hampers the market demand all across the globe. Moreover, increasingly stringent regulations levied by governments of various nations are yet another factor that restricts the market demand to a great extent.

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Regional Analysis

The Structural Adhesives Market has been divided all across the globe based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-growing region, the largest market share in the structural adhesives market all across the globe is held by the Asia-Pacific region owing to increasing demand coupled with rapid industrialization especially in the furniture and construction industry drives the market demand to this region. Moreover increasing demand for adhesives in countries like Thailand, India, and China is another driving factor. Easy availability, subsidies, government tax incentives are some other contributing factors.

Competitive Landscape

The Most Prominent Major Key Players in the Structural Adhesives Market all across the globe are mentioned below:

Ried B.V. Co.

Hubei Huitian Adhesive Enterprise Co.

Arkema S.A.

Scott Bader Company

Lord Corporation

Henkel AG & Co.

SIKA AG

Ashland Inc.

The Dow Chemical Company

3M Company

These Major Key Players use various strategies to sustain their market position in the structural adhesives market in the global market by going for mergers, and acquisitions, by collaborating, setting up a joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the structural adhesives all across the globe.

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Recent Developments

October 2021- 3M has announced the launch of its next generation of the 3M Scotch-Weld Structural Acrylic Adhesives portfolio that include the following products: 3M Scotch-Weld Nylon Bonder Structural Adhesive DP8910NS, 3M Scotch-Weld Flexible Acrylic Adhesive 8600NS Series, and 3M Scotch-Weld Low Odor Acrylic Adhesive 8700NS Series.

Structural acrylic adhesives are capable of rapidly using limited surface preparation and connect to a wide range of substrates at the same time offer high impact and high temperature resistance. The company’s product portfolio provides advanced designs, which notably lessen present assembly challenges and are designed particularly to enable for greater design flexibility.

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