Americas Structural Adhesives Market Worth 4.40 Billion USD by 2021
PUNE, India, May 19, 2016 /PRNewswire/ --
The report "Americas Structural Adhesives Market by Type (Acrylic, Epoxy, Methacrylate, Polyurethane, and Others), by Application (Automotive, Building & Construction, Transportation, Marine, Wind, and Others) - Forecasts to 2021", published by MarketsandMarkets, The market size is projected to reach USD 4.40 Billion by 2021, at a CAGR of 7.47%, between 2016 and 2021.
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Browse 84 market data Tables with 42 Figures spread through 131 Pages and in-depth TOC on "Americas Structural Adhesives Market"
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The major driver identified for the Americas structural adhesives market is the growing demand from building & construction, transportation, marine, and wind energy industries. The demand is increasing with the rising need for reducing weight, manufacturing time, and costs; ensuring excellent mechanical performance; and increasing use of composites, while fabricating components.
Increasing demand for weight reduction and excellent mechanical performance in applications such as Construction & Transportation is driving the demand for structural adhesives
Several end-use industries, such as automotive, construction, transportation, wind energy, and marine demanding materials that can reduce weight and offer excellent mechanical performance, thus driving the demand for structural adhesives. The penetration of composites for fabrication of wind blades of longer blade length, wind towers, and covers of gear boxes are projected to increase the demand for structural adhesives in the wind energy industry.
High demand for structural adhesives from wind energy, marine, transportation, and construction industries is driving the growth of the structural adhesives market. The demand for structural adhesives is increasing with the growing need for lightweight parts of vehicles to reduce emissions, increase efficiency, and improve aesthetic appeal.
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Epoxy adhesives are the largest type of Structural adhesives
Epoxy adhesives are widely used for bonding components, such as rotor blades of wind, car hoods and doors, cockpits in aircraft, engines, radomes, floorings, and fairings of aircraft. The increasing use of epoxy adhesives is attributed to the rise in use of fiber reinforced materials for fabricating components or rail, automotive, wind, aerospace, and construction industries.
Rising demand from Latin America is one of the drivers of the growth of the Americas Structural Adhesives Market.
Mexico and Brazil are dominating the wind, marine, and transportation sectors, which has enabled them to be the dominant market for structural adhesives in the region. Transportation, wind, and construction activities in Latin America have increased due to rising income levels, increasing nuclear families, affordable interest rates, and changing lifestyles in several countries. Several new transportation and construction activities are expected to begin in the region during the forecast period, thereby driving the structural adhesives market.
Key market players in the structural adhesives market
The key players in this market are 3M Company (U.S.), Arkema (France), Henkel AG & Company (Germany), Lord Corporation (U.S.), and Scott Bader (U.K.).
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Structural Adhesive Market by Type (Acrylic, Cyanoacrylates, Epoxy, Methylacrylate, Polyurethane, and Others), by Application (Automotive, Aerospace, Building & Construction, Bus & Truck, Marine, Rail, and Wind) - Global Forecasts to 2020
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