Market Overview
The demand for structural adhesives witnessed strong decline in 2020 due to stringent rules and regulations imposed in Covid-19 pandemic. Lockdown caused a postponement in structural adhesives production and deliveries. As the impact of pandemic is getting down in 2021, the market players are focusing on stabilizing their position through continuation in their relentless efforts.
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In 2021, shifting preferences from welding, rivets andtraditional fastening methods to advanced structural adhesives continues to boost the growing demands for structural adhesives in different sectors.
Presence of volatile organic compounds in these adhesives usually have an adverse impact on human health causing nausea, headache, kidney damages etc that somehow restricts some users to use these adhesives. However, manufacturers are launching many new and highly advanced structural adhesives with reduced concentration of organic compounds to create considerable attraction among the users in 2021.
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Smart innovations are acting as a key growth factor for structural adhesives in 2021. The new adhesives are guaranteeingto be environmental and human friendly fascinating global consumers towards it. At present, different industrial sectors including aerospace, railways, buses and trucks, marine, automotives etc are opting for these adhesives in comparison to traditional ways of bondings due to their excellent mechanic performance, high strength, load-bearing capacity, durability as well as resistance.
Growing Investment in Infrastructure Development: A Key Driver for Structural Adhesive Demand
Growth in infrastructure and increasing government spending in construction and commercial buildings is expected to drive the demand for structural adhesive in the construction sector. Moreover, changing trends in furniture designs are likely to boost the demand further.
In recent years, the use of advanced adhesive technologies has become prominent in the construction sector. Development of processes and technologies for easy heal, recycle, and self-heal of the bonded structure is also gaining traction across the globe with a rise in modern infrastructure.
The demand for polyurethane adhesive is growing owing to the increasing demand for bonding of sheet molding compounds, plastics, and cryogenic application. Meanwhile, the growth in marine and transportation industry is driving the demand for methacrylate adhesives. The structural adhesives sales in the transportation industry is likely to increase owing to its ability to reduce weight, enhance composites structural integrity and increase fuel efficiency.
Stringent environmental regulation by governments are likely to hamper the growth of structural adhesives. There has been a rise in standards related to the VOC emission and solvent-based formulations. Owing to the harmful effects of VOC, countries including Canada, the US, and European Union have imposed strict regulations on VOC emissions.
Regulations on the solvent based adhesives including VOC are driving the demand for water-based structural adhesives. This has also led to the increase in the development of new structural adhesives using eco-friendly formulations.
Structural Adhesive Market – Competitive Landscape
With stringent government regulations on coatings and adhesives, manufacturers in the structural adhesive market are focusing on developing new eco-friendly structural adhesives. Moreover, the latest trend towards lightweight design and high productivity is increasing the use of structural adhesives providing an opportunity for product innovation.
The manufacturers are focusing on new product development. For instance, Arkema has introduced new UV-curable resins. The new resins offer various benefits including flexibility, durability, and impact resistance.
Some of the leading players in the structural adhesive market are
- Henkel AG
- 3M
- Hubei Huitian Adhesive Enterprise Co.
- Scott Bader
- SIKA AG
- Lord Corporation
- Dow Chemical Company
- Ashland
- ITW
Extensive Analysis of Structural Adhesive Market Covers:
- Segmentation of structural adhesive market
- Structural adhesive market dynamics
- Global market size
- Sales and demand in the market
- Key trends and challenges
- Competition Analysis
- Technological Advancements
- Value chain
Regional Data Analysis of Structural Adhesive Market Report Is Based On:
- Structural adhesive market in North America (Canada and U.S.)
- Latin America structural adhesive market (Brazil and Mexico)
- Structural adhesive market Eastern Europe including (Russia and Poland)
- Western Europe structural adhesive market (Italy, UK, Spain, Germany, and France)
- Asia Pacific structural adhesive market (Australia, ASEAN, China, New Zealand, and India)
- Structural adhesive market in Japan
- Middle East and Africa structural adhesive market (GCC Countries, North Africa, and South Africa)
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