Structural Adhesives Market Statistics- 2030
The global structural adhesives market was valued at $14.3 billion in 2020, and is projected to reach $27.9 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030.
Structural adhesives, also referred as load bearing adhesives, are materials that are capable of hardening on substrate and capable of upholding two similar or dissimilar surfaces together through surface contact. These adhesives are capable of withstanding forces for long period and are vulnerable to shock, vibrations, and temperature changes, but still hold the bonded surfaces efficiently. These adhesives are used to bond different substrate materials such as metal, wood, composites, plastics, and ceramics. Epoxy, UV curable, methacrylates, polyurethane, and cyanoacrylate are different types of products that are used for formulation of structural adhesives.
Automotive parts that are bonded with epoxy-based structural adhesives help to absorb high impact energy at different varying temperature. In addition, crash test is widely adopted in the automotive sector to ensure safety of passengers during crash. Structural adhesives are proven to enhance the crash worthiness of cars and other passenger vehicles. Other advantages of structural adhesives include improved strength, flexibility, and curing. These are the major structural adhesives market growth factors. The growing building & construction sector has brought new construction materials, such as synthetic raw materials, for decorative applications, glass, and insulation foams. To offer effective adhesion of these materials, structural adhesives are used as they offer enhanced performance and easy application process. In addition, there are several other applications of structural adhesives in the building & construction sector that include carpet layment, ceramic tile fixing, counter top lamination, lamination of drywall, and others. Acrylic-based structural adhesives are gaining importance in modern construction & building sector, owing to advantages such as excellent adhesive strength, cost effectiveness, and aesthetic look. All these factors collectively surge the demand for structural adhesives, thereby augmenting the global structural adhesives market growth.
However, structural adhesives emit volatile organic compounds (VOC) during their manufacturing that can cause several health-related disorders such as conjunctival irritation, shortness of breath, fatigue, dizziness, skin problems, and others. In addition, exposure to VOC in high concentrations may cause irritation to the lungs, damage the liver, kidneys, central nervous system, and may lead to other chronic diseases. This factor hampers the market growth.
On the contrary, increasing regulations and growing public awareness have made key manufacturers of structural adhesives produce non-hazardous, green, and sustainable structural adhesives. For instance, Henkel AG & Co. KGAA offers sustainable polyurethane adhesives with no added formaldehyde for sustainable bonding applications in building products. Furthermore, to comply with the global trends of sustainability, Sika AG, a leading manufacturer of structural adhesives is investigating sustainable options for its structural adhesive products. It is a key factor that is anticipated to offer new opportunity in the global structural adhesives market.
The global structural adhesives market analysis is done on the basis of substrate, product type, resin type, application, and region. Depending on substrate, the market is divided into metal, wood, composite, plastic, and others. On the basis of product type, it is fragmented into solvent-based, water-based, and others. Depending on resin type, it is classified into epoxy, polyurethane, acrylic, cyanoacrylate, and others.
The applications covered in the study include automotive, building & construction, aerospace, electrical & electronics, energy, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Ashland Global Holdings Inc., DuPont, H.B. Fuller, Henkel Ag & Co. KGAA, Huntsman Corporation (HUN), Lord Corporation, Scott Bader Co., Sika AG, The 3M Company, and Uniseal Inc.
Structural adhesives market, by region
The Asia-Pacific structural adhesives market size is projected to grow at the highest CAGR of 7.8% during the forecast period and accounted for 43.8% of structural adhesives market share in 2020, and. This is attributed to the proliferating demand for consumer electronic products where structural adhesives are used as a prime bonding material for electronic assemblies, conductive films, and other components.
By Region
Asia-Pacific would exhibit highest CAGR of 7.8% during 2021-2030.
Structural adhesives market, by substrate
In 2020, the metal substrate segment was the largest revenue generator, and is anticipated to grow at a CAGR of 7.1% during the forecast period. Applications that require joining of two metal parts without the use of traditional joining methods, such as soldering and welding, can be accomplished with the use of structural adhesives. In addition, joining of two metals is possible if the adhesive offers resistance toward heat and chemicals. This factor is escalating the growth of this segment in the global market.
By Substrate
Composite substrate type is the most lucrative segment
Structural adhesives market, by product type
By product type, the water-based segment dominated the global market in 2020, and is anticipated to grow at a CAGR of 7.2% during forecast period. This is attributed to the fact that properties, such as adhesion quality, wet tackiness, enhanced adhesion with painted metal surface, minimal time for drying, and low flammability, are the key factors that make them suitable for a variety of end-use industries.
By Product Type
Water-based product type is projected as the fastest growing segment
Structural adhesives market, by resin type
In 2020, the epoxy segment was the largest revenue generator, and is anticipated to grow at a CAGR of 7.0% during the forecast period. Epoxy-based structural adhesives are versatile in nature, offer easy bonding with different substrate surfaces, and have excellent shear strength. These properties make epoxy-based structural adhesives suitable for permanent bonding applications. In addition, it can be used in applications, such as automotive, aerospace, and other industrial uses, owing to its thermal & chemical resistance, minimal shrinkage, and cohesive strength, thereby escalating the growth of epoxy-based structural adhesives.
By Resin Type
Acrylic resin type is projected as the fastest growing segment
Structural adhesives market, by application
By application, the automotive segment dominated the global structural adhesives market in 2020, and is anticipated to grow at a CAGR of 7.0% during the forecast period. Structural adhesives are used in automotive applications, owing to flexibility and ability to offer enhanced performance in complex engineering designs. In addition, owing to its ability to accommodate thermal expansion and electrical conductivity, structural adhesives are proven to offer required performance in automotive applications.
By Application
Aerospace application is projected as the fastest growing segment
Key benefits for stakeholders
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current structural adhesives market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Impact Of Covid-19 On The Global Structural Adhesives Market
- The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe.
- The structural adhesives market has been negatively impacted due to the wake of COVID-19 pandemic, owing to its dependence on automotive, aerospace, energy, and other sectors. According to a report published by Wipro, the automotive industry witnessed 30% decline in sales in March 2020 as compared to March 2019, owing to lockdowns and shutdowns of auto plants.
- Several automotive companies have either shutdown or shrank their operations due to the risk of infections among the workforce where structural adhesives are used as a prime bonding material for hoods, grills, interior panels, and other vehicle parts. This has temporarily hampered the demand for structural adhesives amid the COVID-19 period.
- The falling income of customers and international travel restrictions led to contraction of the demand for structural adhesives among the aerospace sector. For instance, according to a report published by Airlines for America, the commercial airline passenger volume in September 2020 was 68% less than September 2019, affecting long-term existential threat to manufacturers, supply chain, and the entire air travel industry.
- COVID-19 has put a temporary break on various aircraft manufacturing projects, which, in turn, has declined the demand for structural adhesives among the aerospace & aviation sectors. In addition, the structural adhesives market has witnessed a downfall in demand among the construction sectors, owing to temporary halt on various building & construction projects amid the COVID-19 period.
Key market segments
By Substrate
- Metal
- Wood
- Composite
- Plastic
- Others
By Product Type
- Solvent-based
- Water-based
- Others
By Resin Type
- Epoxy
- Polyurethane
- Acrylic
- Cyanoacrylate
- Others
By Application
- Automotive
- Building & Construction
- Aerospace
- Electrical & Electronics
- Energy
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key players in the global structural adhesives market are:
- Ashland Global Holdings Inc.
- DuPont
- H.B. Fuller
- Henkel Ag & Co. KGAA
- Huntsman Corporation (HUN)
- Lord Corporation
- Scott Bader Co.
- Sika AG
- The 3M Company
- Uniseal Inc.
Structural Adhesives Market Report Highlights
| Aspects | Details |
 By Substrate |
|
 By Product Type |
|
 By Resin Type |
|
 By Application |
|
 By Region |
|
 Key Market Players | Scott Bader Co., Henkel Ag & Co. KGAA, Uniseal Inc., Lord Corporation, Huntsman Corporation (HUN), DuPont, Sika AG, H.B. Fuller, Ashland Global Holdings Inc., The 3M Company |
Analyst Review
According to the CXOs of leading companies, the global structural adhesives market is expected to exhibit high growth potential. Use of structural adhesives for bonding of metal substrates has numerous benefits such as strength, durability, reduces surface preparation technique before bonding, and improves aesthetic look as there is no need for welds or rivets. Applications that require joining of two metal parts without the use of traditional joining methods, such as soldering and welding, can be accomplished with the use of structural adhesives.
In addition, joining of two metals is possible if the adhesive offers resistance towards heat and chemicals. Thus, structural adhesives are capable of offering resistance to both heat and chemicals and can withstand heating and cooling of metal bodies. Advantages, such as structural properties, can be cleaned easily with water, formulation without the use of formaldehyde, and resistance toward solvents & chemicals, make them suitable to be used for wood substrate bonding, which is predicted to offer lucrative growth opportunities in future.
Mineral wool is a material utilized widely in military applications. Adhesion of marine boards that are made up of mineral wool to plateworks in military ships is carried out with the use of water-based structural adhesive. Properties, such as adhesion quality, wet tackiness, enhanced adhesion with painted metal surface, minimal time for drying, and low flammability, are the key factors that make them suitable for a variety of end-use industries. Key players in the market are launching innovative water-based products, owing to rising trend toward green chemistry. Water-based structural adhesives are alternative choice of material over solvent-based structural adhesives that are used in applications such as adhesion of furniture panels, household sector appliances, and different assemblies in automotive sector.
This is not only gaining immense attention in the market but also emerging as a key strategy in terms of gaining additional product demand. Furthermore, owing to flexibility and practicality of water-based structural adhesives, they are adopted in various end-use industries such as furniture, fabric, and plastic.
Increasing investment among building & construction sector and growth in automotive sector are the other major growth factors in the structural adhesives market
The global structural adhesives market forecast was valued at $14,303.7 billion in 2020, and is projected to reach $27,875.7 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030.
Ashland Global Holdings Inc., DuPont, H.B. Fuller, Henkel Ag & Co. KGAA, Huntsman Corporation (HUN), Lord Corporation, Scott Bader Co., Sika AG, The 3M Company, and Uniseal Inc. are the most established players in the global structural adhesives market.
Automotive industry is projected to increase the demand of structural adhesives market
The structural adhesives market is segmented on the basis of substrate, product type, resin type, application, and region. On the basis of substrate, the market is categorized into metal, wood, composite, plastic, and others. On the basis of product type, the market is divided into solvent-based, water-based, and others. Based on resin type, it is fragmented into epoxy, polyurethane, acrylic, cyanoacrylate, and others. By application, it is classified into automotive, building & construction, aerospace, electrical & electronics, energy, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Rising investments and research & development activities in the aerospace sector led both developed and developing economies, such as the U.S., China, India, and others, to manufacture highly maneuverable, advanced, and heavily equipped aircraft and fighter jets. Structural adhesives are used in aircraft and fighter jets for bonding both composites-only and composite to metals components in airframes, interior panels, and others. Boeing, a leading aircraft manufacturing company, uses structural adhesives either in the form of pastes or films for various specialized applications such as lightning strike protection, low-density sandwich panels, and others.
Interior panels, flight control surfaces, and secondary assembly structures in aerospace sector are expected to drive the adoption of structural adhesives
COVID-19 has impacted negatively on the structural adhesives market. This is attributed due to • The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. • The structural adhesives market has been negatively impacted due to the wake of COVID-19 pandemic, owing to its dependence on automotive, aerospace, energy, and other sectors. According to a report published by Wipro, the automotive industry witnessed 30% decline in sales in March 2020 as compared to March 2019, owing to lockdowns and shutdowns of auto plants. • Several automotive companies have either shutdown or shrank their operations due to the risk of infections among the workforce where structural adhesives are used as a prime bonding material for hoods, grills, interior panels, and other vehicle parts. This has temporarily hampered the demand for structural adhesives amid the COVID-19 period. • The falling income of customers and international travel restrictions led to contraction of the demand for structural adhesives among the aerospace sector. For instance, according to a report published by Airlines for America, the commercial airline passenger volume in September 2020 was 68% less than September 2019, affecting long-term existential threat to manufacturers, supply chain, and the entire air travel industry. • COVID-19 has put a temporary break on various aircraft manufacturing projects, which, in turn, has declined the demand for structural adhesives among the aerospace & aviation sectors. In addition, the structural adhesives market has witnessed a downfall in demand among the construction sectors, owing to temporary halt on various building & construction projects amid the COVID-19 period.
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