The global structural adhesive market size was USD 10.95 Billion in 2022 and is expected to reach USD 19.63 Billion in 2032, and register a revenue CAGR of 6.7% during the forecast period. The need for high-quality and long-lasting adhesives among consumers is on the rise, and the popularity of lightweight and environmentally friendly adhesives is also on the rise. These and other factors are largely developing the market in the construction and automotive sectors.
The capacity of structural adhesives to deliver high strength, durability, and stiffness, which are essential for improving the performance and safety of vehicles, makes the automotive industry one of the largest end-users of structural adhesives. Body-In-White (BIW) assemblies, sub-assemblies, and panel bonding are just a few of the automobile applications that structural adhesives are employed for. The need for structural adhesives in the automobile industry is expected to rise even more as lightweight vehicles become more popular and carbon emissions become a more pressing issue.
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Some Key Highlights from the Report
- In 2021, the epoxy segment held the largest revenue share in the global structural adhesive market. The market is segmented based on various resin types, including epoxy, polyurethane, acrylic, methacrylate, cyanoacrylate, and others, and the epoxy sector emerged as the most significant contributor to income during that year. Epoxy adhesives are extensively used in diverse industries, such as automotive, construction, aerospace, and electronics, owing to their exceptional bonding strength, durability, and resistance to chemicals and heat. Renowned for their ability to adhere to various substrates, including metals, polymers, and composites, epoxy adhesives are highly acclaimed for their outstanding bonding capabilities. The expansion of the epoxy resin market is expected to be further fueled by the growing demand for high-strength bonding in the automotive and aerospace sectors.
- The automotive and transportation sector emerges as the top revenue generator in the structural adhesive market. The market’s expansion is attributed to the increasing demand for lightweight materials, such as aluminum and composites, aimed at enhancing fuel economy and reducing emissions. These materials find perfect application in automotive and transportation sectors, as structural adhesives provide excellent bonding options for them. Moreover, structural adhesives are utilized in automobile assembly to reduce the reliance on mechanical fasteners, leading to decreased weight, cost, and assembly time.
- Asia-Pacific is the largest revenue generator in the structural adhesive market. The need for structural adhesives in a number of applications is being pushed by the region’s rising economies, such as India and China, which are experiencing rapid industrialization and urbanization. The structural adhesive market is developing as a result of the region’s increasing usage of lightweight materials such as composites in the construction, automotive, and aerospace industries. The availability of affordable packaged and room air conditioners in the Asia Pacific area, spurred by the rising e-commerce industry and discounts provided on online platforms, is also expected to raise demand for structural adhesives used in air conditioning applications.
- Some of the prominent players profiled in the global structural adhesive market include Henkel AG & Co. KGaA, 3M Company, Sika AG, The Dow Chemical Company, Huntsman Corporation, Lord Corporation, Arkema Group, Ashland Global Holdings Inc., Scott Bader Company Ltd., Hubei Huitian Adhesive Enterprise Co., Ltd., and Pidilite Industries Limited.
- Henkel AG & Co. KGaA launched a new line of structural adhesives under the Loctite name in 2022. Loctite HY 4090 is a hybrid adhesive that combines the strength of an epoxy adhesive with the flexibility of a polyurethane adhesive, making it excellent for attaching a variety of materials in a variety of applications.
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