Market Overview:

Global Market for Structural Adhesives was valued at approximately USD 21.29 Billion in 2023. Over the course of the forecast period (2024–2031), the market is expected to develop at a compound annual growth rate (CAGR) of 5.9%, reaching a value of USD 33.38 Billion by 2031.

The increase in demand for structural adhesive in the construction industry might be attributed to the growing global construction activities. In the upcoming years, it is projected that the demand for structural adhesives will be driven by the fast industrialization and expansion of the automotive and construction sectors in rising economies like China and India. Demand for novel solutions with high bond strength, short curing times, and minimal hazardous emissions is expected to rise globally due to rising R&D initiatives and consumer preferences. Water-based adhesives are expected to meet this demand.

In automotive applications, structural adhesives are crucial in deciding the total vehicle weight, which boosts fuel efficiency and reduces carbon emissions. Owing to their longevity and capacity to adhere to diverse substrates like metal, wood, and polymers, structural adhesives are gradually taking the place of most mechanical fasteners and welds. The automotive and aerospace sectors, where cost as well as processing time are critical factors in the raw material selection process, are major users of these adhesives. The cost and durability of materials and processing activities are the primary factors that influence design decisions in the automotive industry. The market is anticipated to grow more quickly in the next years due to rising demand for automotive components and lightweight composites.

The structural adhesives industry is expected to be driven by the development of new airplanes with high absorption of composite materials, light commercial vehicles, and revolutionary passenger cars. Over the course of the projection period, adhesives used in composites are anticipated to find the greatest applications in the automotive and aerospace industries. The market is anticipated to be driven by further applications that call for lightweight materials with high-performance advantages. Despite fierce competition from substitute materials, there is a growing market for structural adhesives and composites, particularly in applications that call for high performance, reduced weight, fuel economy, and other advantages.

The structural adhesives business experienced short-term negative repercussions as a result of COVID-19's extensive use in the automotive, industrial, and construction industries. A National Center of Information report published in April 2020 stated that the automotive industry shrank by almost 30% in March 2020 compared to March 2019. The reason for the decline was the closure of auto factories and businesses.

Market Drivers-

Green Adhesives are Growing Popularity

• Green adhesives, or those with fewer volatile organic compounds, are highly sought after due to the expanding trend of employing eco-friendly or "green" materials in a variety of applications. The rigorous regulations enforced by several regional regulatory authorities have forced manufacturers to produce low-VOC, environmentally friendly adhesives. There's a lot of room to develop as the sector switches to a more environmentally friendly goods line. Furthermore, polyester polyols needed to make polyurethane adhesives can be synthesized using potato starch in transesterification reactions with natural oils. Thus, the market expansion for structural adhesives is being propelled by the introduction of green adhesives.

Increasing Need from the Aerospace Sector

• The need for structural adhesives is increasing due to the expansion of the aerospace sector. Structural adhesives are the main tool used by aircraft manufacturers to reduce weight and production costs while giving their products strength, stiffness, & high-performance temperature resistance. In the aerospace sector, structural adhesives are essential because they reduce aircraft weight by taking the place of mechanical fasteners and more robust bonding processes. Additionally, structural adhesives are employed to join the aircraft's blades and minimize the quantity of pins needed to join aerospace skin components. This permits a strong adherence to many materials, hence reducing the load on components. This structure's main goal is to reduce weight while increasing strength. Epoxy adhesives are used in these components to fill in spaces between edges, particularly those that are exposed. Another important area that epoxy adhesives are used is inside the fuselage. They also coat interior panels because structural adhesives that are resistant to chemicals are easily cleaned.

Market Trends-

Increased Demand for Lightweight and Fuel-Efficient Vehicles

• The growing need in the automotive industry for small and fuel-efficient automobiles is driving the structural adhesives market. Because they make it possible to attach lightweight materials like aluminum, composites, & advanced high-strength steel (AHSS) to reduce weight, increase fuel efficiency, and improve crashworthiness, structural adhesives are essential to the design and production of automobiles. Structural adhesives, that have several benefits including increased stiffness, weight reduction, corrosion resistance, and improved acoustic as well as vibration damping properties, are being used by automakers more often in place of conventional joining techniques like welding and mechanical fastening during the vehicle assembly process. Structural adhesives also make it possible to construct intricate car structures with optimal load distribution & crash performance, which enhances both vehicle safety and occupant protection. The need for structural adhesives as essential enabling materials for lightweighting initiatives is growing as automotive OEMs (original equipment manufacturers) as well as suppliers work to meet strict fuel economy standards, reduce emissions, and improve vehicle performance. This is propelling market growth and creativity in the structural adhesives market.

Shift towards Sustainable and Eco-Friendly Formulations

• The movement towards environmentally friendly and sustainable formulations to satisfy legal obligations and environmental concerns. The Increasing recognition of environmental issues including pollution, resource depletion, & climate change has raised pressure on businesses to adopt sustainable practices and reduce their carbon footprint. In response, producers of adhesives are creating novel structural adhesive formulations that retain excellent performance and durability while reducing or eliminating toxic materials, volatile organic compounds (VOCs), & hazardous chemicals. Recycled material, renewable energy sources, or bio-based raw components are some ways that ecologically friendly adhesives can reduce their environmental effect and promote the circular economy. Using sustainable structure adhesives also has the benefit of improved indoor air quality, reduced emissions during manufacture and use, and compliance with stringent environmental regulations and green building requirements. As sustainability becomes an increasingly important consideration in the selection and procurement of materials throughout a range of industries, like renewable energy, transportation, & construction, there is going to be an increasing demand for sustainable structural adhesives.

Market Restraining Factors-

High Initial Costs and Capital Investment

• The high initial expenditures and capital investment needed to implement adhesive bonding solutions, particularly in industries that have historically relied on mechanical attaching or welding methods, are the driving force behind the structural adhesives market. When transitioning from traditional joining methods to structural adhesives, there are frequently large upfront costs related to purchasing equipment, altering processes, certifying and training staff, and rearranging product assemblies to meet adhesive bonding specifications. The cost of adoption may also be higher overall if structural adhesives themselves are more expensive per unit than welding consumables or mechanical fasteners. Despite the long-term advantages like improved efficiency, weight savings, and cost efficiencies, some manufacturers—especially small and medium-sized enterprises (SMEs) or businesses with limited resources—may be discouraged from purchasing structural adhesive technology due to the perception of financial barriers to entry. To speed up market adoption and increase the use of structural adhesives across a range of industries, financial obstacles must be removed and the ROI of structural adhesive solutions must be proven by using case studies, cost-benefit analyses, and efficacy comparisons with conventional techniques.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Structural Adhesives Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Structural Adhesives Market Players Analysis:

• Samsung Display Co., Ltd.
• LG Display Co., Ltd.
• BOE Technology Group Co., Ltd.
• Japan Display Inc.
• AU Optronics Corp.
• Visionox Co., Ltd.
• Tianma Microelectronics Co., Ltd.
• Royole Corporation
• E Ink Holdings Inc.
• Sharp Corporation
• Innolux Corporation
• Truly International Holdings Limited
• Chunghwa Picture Tubes, Ltd.
• FlexEnable Limited
• Plastic Logic Germany
• JOLED Inc.
• EverDisplay Optronics (Shanghai) Limited
• Beijing Opto-Electronics Co., Ltd. (BOE)
• C3Nano
• Nanosys Inc.

Key Industry Developments:

• In June 2023, Aeroadhere FAE-350-1, a new structural film adhesive intended to fuse primary and secondary components together, was introduced by Park Aerospace Corp.
• In October 2022, to ensure to promote Crestabond structural adhesives throughout India, Elixir (Bengaluru, India) and Scott Bader (Wellingborough, UK) partnered. The announcement is consistent with the company's April 2022 commitment to support the Indian composites industry.

Market Segmentation Insights:

The market is divided into segments based on By Product, By Technology, By Application.

By Technology

Based on the Technology of the market is segmented into Water-based, Solvent-based, Others.

The market was dominated by the water-based technology category in 2022, accounting for 46.6% of total revenue. Its significant portion can be attributed to its growing application in providing robust heat resistance. Structural adhesives based on water begin as liquids & solidify after the water evaporates. These adhesives are often made with a blend of polymers, water, & additives. Water-based adhesives give high heat resistance. They have a reputation for being adept at handling recyclable materials. These adhesives have a low volatile organic compound (VOC) concentration, are odorless, multifunctional, and easy to clean. They can be used on rollers or nozzles made of stainless steel.

The applications for solvent-based structural adhesives include packaging, medicinal, and taping. Since they work well with a variety of substrate types and have a strong resilience to environmental effects, these adhesives are the most often used. Liquid solvent-based adhesives are accessible. These adhesives offer strong adherence when the liquid evaporates and the bonding ingredient is still present, thus they can be used on both porous & non-porous surfaces. Solvent-based adhesives are used in graphics and food packaging applications because they are simpler to apply than water-based adhesives.

By Application

Based on the Application of the market is categorised into Transportation, Construction, Consumer Appliances, Furniture, Others.

In 2022, the market was dominated by the construction application segment, which held the greatest revenue share of 29.3%. Its large share is fueled by the expanding building industry as a result of the world's fast urbanization and industrial expansion. Structural adhesives are frequently used in the building industry to combine disparate materials including metal, concrete, and wood. These adhesives are also utilized for gluing structural glass, building panels, exterior doors, metal components, and concrete to ceramic tiles. In the construction sector, adhesives such as acrylic, resin, anaerobic, and hot-melt adhesives are frequently utilized.

The furniture business uses structural adhesives a lot to join foams, plastics, metal, & textiles. The foam in soft furniture is held in place by adhesives. Rather than allowing the furniture glues to seep into the substrate's pores, it is crucial that they remain on the surface after application, enabling robust bindings with other materials without compromising the substrates' properties.

Regional Snapshots:

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. Asia Pacific dominated the structural adhesives market in 2022, accounting for the highest revenue share of 34.9%. The growing construction industry in countries like China, India, and Japan is driving up demand in the Asia Pacific area. According to the International Trade Administration, China is the country with the fastest rate of urbanization worldwide. Green buildings and other low-carbon development will have greater opportunities as the country's economy becomes more environmentally friendly. This is expected to hasten the growth of the country's construction industry, which will in turn propel the structural adhesives market's ascent in the upcoming years.

Europe is anticipated to provide structural adhesives industry participants profitable expansion chances due to the region's increasing building activity, as well as its rapidly growing industrial sector and high rate of urbanization. Furthermore, the growing transportation sector in Europe is expected to enhance demand for structural adhesives. Two factors that are expected to drive the growth of the transportation industry in the region and, in the near future, have a positive impact on the market are congested roadways and increased traffic volumes.

Structural Adhesives Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase:

• To gain insightful analyses of the Structural Adhesives market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Structural Adhesives market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Structural Adhesives market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of the Market:

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2031
• Representation of Market revenue in USD Million