Structural Adhesive Market Worth $24.20 Billion by 2020
Jun 26, 2015, 12:00 ET
DALLAS, June 26, 2015 /PRNewswire/ --
The report "Structural Adhesive Market by Type (Acrylic, Cyanoacrylates, Epoxy, Methylacrylate, Polyurethane, & Others), by Application (Automotive, Aerospace, Building & Construction, Bus & Truck, Marine, Rail, and Wind) - Global Forecasts To 2020",published by MarketsandMarkets, The global market value of the Structural Adhesive Market was estimated to be around $24.20 Billion in 2020 and is projected grow at a CAGR of around 7.71% between 2015 and 2020.
Browse 76 market data Tables and 64Figures spread through 194 Pages and in-depth TOC on"Structural Adhesive Market".
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The market report analyzes the global structural adhesive market with respect to market drivers, restrains, opportunities, and challenges, in different regions.
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The global structural adhesive market is significantly penetrating in the wind turbine and blades, railway bogies, aircrafts components, fabricating electric cars, marine deck and hull, housing, commercial, and infrastructure applications. The characteristics of the end products differ as per the requirement of end-user industries and for different applications. The Asia-Pacific region is the fastest growing segment of the global structural adhesive market and is mainly attributed to high economic growth rate followed by growing demand for wind, aerospace, and automotive market for adhesives along with rising demand from infrastructure development, maintenance and renovation which is eventually driving the structural adhesive industry. The Asia-Pacific and RoW markets are estimated to show excellent growth in the next five years with the allied industries expected to stabilize the overall business need in the respective regions.
R&D is a key part of this market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of structural adhesive and match the consumer demands coming from various types of applications. Global companies are continuously investing in R&D to multipurpose and hybrid adhesives which are durable and quick setting adhesives that can be used for structural applications.
Asia-Pacific is the largest market, both in terms of volume and value, followed by North America. China, Brazil, Thailand, India, Philippines, and Singapore are expected to persist as successful structural adhesive markets. The key players in the structural adhesive market are 3M Co. (U.S.), Ashland (U.S.), Dow (U.S.), Lord Corporation (U.S.), HUBEI HUITIAN ADHESIVE ENTERPRISE CO. (China), Henkel (Germany), ITW (U.S.), SIKA (Switzerland), Scott Bader (England), Arkema (France), and others.
The Eastern and Central European nations, emerging South-East Asian, and Latin American nations that will host the future global events would supplement the growth of infrastructure development, followed by rising demand from transportation which will directly boost the demand for the structural adhesive.
The structural adhesive demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, investments & expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.
The global market value of the structural adhesive market was estimated to be around $24.20 billion in 2020 and is projected grow at a CAGR of around 7.71% between 2015 and 2020. The high demand for the structural adhesive across the infrastructure and transportation industry will increase the overall structural adhesive consumption.
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