Structural Adhesives Market by Application, Type and Geography - Forecast and Analysis 2020-2024

“The Structural Adhesives Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 1.36 million tons and CAGR of 7% by segment Type, Geography, and Application during the forecast period 2019 to 2024” 

Furthermore, this report extensively covers the smart home appliances market segmentation by type (urethane, epoxy, acrylic, cyanoacrylic, and others), geography (APAC, Europe, North America, South America, and MEA), and application (construction, transportation, aviation, wind energy, and others). The market report also offers information on several market vendors, including3M Co., ALTANA AG, Arkema SA, Ashland Global Holdings Inc., Dow Inc., DuPont de Nemours Inc., Evonik Industries AG, H.B. Fuller Co., Henkel AG & Co. KGaA, and Sika AG

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Parent Market Analysis

Technavio categorizes the Structural Adhesives Market as a part of the Materials industry within the Chemicals industry. Our Technavio research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

Structural Adhesives Market: Key Drivers, Trends, and Challenges

Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the structural adhesives industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge. 

Key Structural Adhesives Market Driver

One of the key factors driving growth in the market is the increase in urbanization and infrastructure investment. The growth in urbanization and an increase in infrastructure investment are driving the market for structural adhesives. These adhesives are used in architectural cladding, modular buildings, doors, and windows. The bonding applications of these adhesives include corner key joints, internal reinforcements, perimeter bond frames, and others. The global construction market is expected to reach USD 12 trillion by 2020, fostered by economic and demographic factors. An increase in urbanization and rising consumer confidence are contributing to the increase in the number of construction projects. The shortage of housing, traffic congestion, and passenger traffic is increasing in cities of APAC due to an increase in urban population. To cater to the needs of the growing urban population, countries in APAC are focusing on urban development. For instance, the Ministry of Road Transport and Highways of India released an estimated budget of around USD 13 billion during 2020-2021 for building national highways, roads, and bridges and maintaining the existing infrastructure, which is around 11% higher than the revised estimates for 2019-20. Furthermore, the Government of China plans to invest over USD 1 trillion in urban infrastructure projects by 2030. Such large investments by governments are expected to propel the demand for adhesives and sealants, including structural adhesives, from the regional construction industry during the forecast period. 

Key Structural Adhesives Market Challenge

The fluctuating raw material prices will be a major challenge for the market during the forecast period. The fluctuating cost of raw materials used for manufacturing adhesives is a major challenge for the global market. The prices of raw materials, such as polyurethane, silicone, epoxy, and others, have been fluctuating since 2005. Polyol and diisocyanates (methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI)) used for the production of polyurethane are expensive. These chemicals are derived from crude oil. The fluctuating oil prices and a shortage of raw materials, such as base chemicals, for resins, have contributed to the rising costs, thereby increasing manufacturing costs and decreasing the profit margins of vendors. Many vendors have increased the prices of their products to cope with the growing cost of raw materials. The increasing price of chemicals due to the high cost of raw materials and, consequently, lower profit margins are expected to restrict their use in a few applications, thereby posing a challenge to the manufacturers. Furthermore, the process of certification of raw materials used in structural adhesives is lengthy and complicated as it involves government intervention. Therefore, the vendors cannot introduce their newly developed products easily, which again poses a challenge to market growth. 

Structural Adhesives Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the structural adhesives market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Who are the Major Structural Adhesives Market Vendors?

3M Co. - Structural adhesives: The company offers high-quality structural adhesives under the brand Scotch-Weld, which is used in a wide range of applications, including kitchen appliances, sporting goods, automobiles, aerospace, and others.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

• 3M Co.
• ALTANA AG
• Arkema SA
• Ashland Global Holdings Inc.
• Dow Inc.
• DuPont de Nemours Inc.
• Evonik Industries AG
• H.B. Fuller Co.
• Henkel AG & Co. KGaA
• Sika AG

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Structural Adhesives Market?

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51% of the market’s growth will originate from APAC during the forecast period. China, India, and South Korea (Republic of Korea) are the key markets for structural adhesives in APAC. Market growth in this region will be faster than the growth of the market in the European regions.

The growth in infrastructure development and favourable economic conditions are creating the demand for structural adhesives in APAC. The furniture, transportation, aerospace, and transportation industries in the region are expected to grow significantly during the forecast period. APAC is foreseen to sustain its market position and grow considerably over the forecast period. This is attributable to the growing demand for structural adhesives from the construction, automotive, rail, marine, aerospace, and furniture industries in India, China, Malaysia, South Korea, and Vietnam. India has been recording strong growth and will sustain it throughout the forecast period. The continuously developing wood and furniture industry, R&D, investments in infrastructure development, and growing entry of global producers are driving market growth in the country. 

What are the Revenue-generating Type Segments in the Structural Adhesives Market?

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The structural adhesives market share growth by the urethane segment will be significant during the forecast period. The market for urethane structural adhesives is expected to grow significantly during the forecast period, driven by the growing demand for these adhesives in construction, aviation, electronics, and other end-user industries. Urethane structural adhesives are two-component adhesives that exist in medium liquid-to-paste states. These adhesives dry easily and form a tough bond. They are less resistant to high temperatures and solvents and are also sensitive to moisture.  Vendors, such as LORD Corp. (LORD), and 3M Co. (3M), offer high-quality urethane structural adhesives. Therefore, owing to their unique properties, wide range of applications, and the presence of major vendors offering these adhesives, the market for urethane structural adhesives is expected to grow substantially during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the structural adhesives market size and actionable market insights on the post-COVID-19 impact on each segment.

Structural Adhesives Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 7%
Market growth 2020-2024	1.36 mn tons
Market structure	Fragmented
YoY growth (%)	6.17
Regional analysis	APAC, Europe, North America, South America, and MEA
Performing market contribution	APAC at 51%
Key consumer countries	China, US, Germany, India, and South Korea (Republic of Korea)
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	3M Co., ALTANA AG, Arkema SA, Ashland Global Holdings Inc., Dow Inc., DuPont de Nemours Inc., Evonik Industries AG, H.B. Fuller Co., Henkel AG & Co. KGaA, and Sika AG
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Structural Adhesives Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the structural adhesives industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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