Fact.MR, a market research and competitive intelligence provider, says that the global Structural adhesives market would be valued at US$ 14.74 Bn in 2022 and go for a good CAGR of 6.7% between 2022 and 2032. Fact.MR is seeing through the ever-increasing trend in the direction of lightweight materials like aluminum and plastics, which, in turn, is bound to take the structural adhesives market by storm in the upcoming period. On these grounds, the global structural adhesives market is expected to be worth US$ 28.2 Bn by the year 2032. Materials like aluminum and plastic help in improvising on fuel efficiency.
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Key Segments Covered in Structural Adhesives Industry Research
- by Resin Type :
- Epoxy Structural Adhesives
- Polyurethane (PU) Structural Adhesives
- Acrylic Adhesives
- Cyanoacrylate
- by Application :
- Building & Construction
- Bus & Truck Manufacturing
- Aerospace & Defense Manufacturing
- Wind Energy Equipment Manufacturing
- Marine Equipment Manufacturing
- Rail Equipment & Components
- Others
- by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Takeaways from Market Study
- North America holds 28.3% of the structural adhesives market and the status quo is expected to be the same even going forward.
- Europe exercises control over one-third market share (31.6%) and the scenario is expected to be the same even in the forecast period.
- Polyurethane (PU) structural adhesives account for nearly 20% of the structural adhesives market.
- The global structural adhesives market is expected to witness 2X growth between 2022 and 2032.
Competitive Landscape
Key structural adhesive manufacturers are increasing their investments in research and development of new products that are free from VOCs and are compliant with the new sustainability norms. Structural adhesive suppliers are also developing application-specific adhesives to strengthen their business potential in specific industry verticals.
- In May 2022, Arkema’s adhesive division – Bostik – announced the launch of its new adhesive solution, which is part of its ‘Responsibly for Hygiene’ commitment. The new Nuplaviva i90 Hot-Melt Wetness Indicator is made with renewably-sourced content and is the third solution in the Nuplaviva series of adhesives.
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Market Developments
The key participants are emphasizing on sustainability through development and tabling the products that would prove to be sustainable in the long run.
- Italy-based RALLK is into manufacturing the cement-hardening adhesives along with the other thermal coat adhesives to address the cement industry. The major advantage is that they do have a lower carbon footprint in comparison with traditional adhesives.
- Bostik (Arkema’s adhesive division), in May 2022, did announce launching its novel adhesive solution. It’s an extended arm of its commitment to “Responsibility for Hygiene”. This new-fangled Nuplaviva i90 Hot-Melt Wetness Indicator has renewably-sourced contents.
- Henkel, in December 2018, acquired Aislantes Nacionales S.A. (Chile), so as to strengthen its position in the Chilean market.