(MENAFN- Zion Market Research) Zion Market Research has published a new report titled 'Structural Adhesives Market by Product Type (Epoxy, Polyurethane, Acrylic, Methyl Methacrylate, Cyanoacrylate, and Others) and by Application (Automotive, Marine, Energy, Transportation, Aerospace, Building and Construction, Electronic Components, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019—2025. According to the report, the global structural adhesives market was valued at approximately USD 11.93 billion in 2018 and is expected to generate around USD 19.57 billion by 2025, at a CAGR of around 7.3% between 2019 and 2025.
Structural adhesives are used in applications of high load bearing and high-temperature resistance. These adhesives are capable of holding two substrates together with resistance to a number of external factors, such as temperature, chemicals, etc.
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The growth of the construction industry across the globe is likely to be the major factor driving the global structural adhesives market growth in the future. The rising construction activities and the increasing number of infrastructural re-development projects in several regions are anticipated to further fuel the structural adhesives market expansion in the upcoming years. Moreover, the demand for lightweight cars is also expected to boost the demand for structural adhesives. The increasing production of lightweight electric vehicles is expected to boost the demand for structural adhesives in the years ahead. However, stringent regulation imposed by various governments across the world on the manufacturing and usage of structural adhesives might restrain the structural adhesives market on a global in the future. Characteristically, many adhesives differ from each other and exhibit different properties. Recently, there has been a huge demand for non-hazardous and green structural adhesives with low or no ecological footprint, which, in turn, is expected to provide new growth avenues for the key players operating in the global structural adhesives market.
By product type, the global structural adhesives market includes epoxy, polyurethane, acrylic, methyl methacrylate, cyanoacrylate, and others. Polyurethane dominated the global structural adhesives market in 2018, owing to the versatile nature of polyurethane-based adhesives and their extensive application in panel bonding. By application, this global market is segmented into automotive, marine, energy, transportation, aerospace, building and construction, electronic components and others. The building and construction segment is expected to dominate the global structural adhesives market over the forecast period. The rising demand for lightweight materials in the automotive and aerospace sector is likely to fuel the demand for structural adhesives. Hence, the automotive and aerospace segments are expected to witness a substantial rate of growth in the future.
The regional segmentation of the global structural adhesives market includes North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The Asia Pacific region was the largest market for structural adhesives in the year 2018, both in terms of both revenue and volume. The North American structural adhesives market is expected to witness a substantial rate of growth over the forecast time period, owing to the region's flourishing huge construction industry, as it is a major consumer of structural adhesives.
Some key players operating in the global structural adhesives market include Henkel AG & Co. KGaA, Sika AG, 3M, The Dow Chemical Company, Huntsman International LLC, Illinois Tool Works Inc., Bostik, H.B. Fuller, Ashland, Lord Corporation, and Mapei S.P.A., among others.
This report segments the global structural adhesives market into:
Global Structural Adhesives Market: Product Type Analysis
- Epoxy
- Polyurethane
- Acrylic
- Methyl Methacrylate
- Cyanoacrylate
- Others
Global Structural Adhesives Market: Application Analysis
- Automotive
- Marine
- Energy
- Transportation
- Aerospace
- Building and Construction
- Electronic Components
- Others
Global Structural Adhesives Market: Regional Analysis
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- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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