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Structural Adhesives Market Worth $19.4 Billion by 2024 - Exclusive Report by MarketsandMarkets

CHICAGO, Aug. 16, 2019 /PRNewswire/ -- According to the new market research report "Structural Adhesives Market by Technology (Solvent-Based, Water-Based), Resin (Epoxy, Polyurethane, Acrylic, MMA, Cyanoacrylate), Application (Building & Construction, Automotive, Wind Energy, Aerospace), and Region - Global Forecast to 2024", published by MarketsandMarkets™, the Structural Adhesives Market is projected to reach USD 19.4 billion by 2024 at a CAGR of 6.8% during the forecast period.

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Browse in-depth TOC on "Structural Adhesives Market"

122 – Tables
47 – Figures  
200 – Pages

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Structural adhesives are capable of producing load-bearing joints that can handle high stress, and provide excellent mechanical performance, enabling weight reduction at the same time. These also offer exceptional strength, durability, and resistance from impact, heat, fatigue, and solvents.

Epoxy resins are expected to lead the structural adhesives market during the forecast period

Epoxy adhesives have a high demand in the structural adhesives market due to their excellent chemical resistance, low shrinkage value, and lower quantities of volatile compound emissions during curing. Epoxy adhesives are used in a wide range of end-use industries, especially in niche applications, where excellent bonding strength is required. These types of adhesives can be used to bond a variety of substrates, such as metals, ceramics, and composites.

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Wind energy is the fastest-growing application in the structural adhesives market.

Among applications, the wind energy application is projected to grow at the highest rate from 2019 to 2024. The growing demand for renewable energy over fossil fuel due to the rise in population and to reduce greenhouse gas emissions is leading to the increasing demand for wind energy.

Use of structural adhesives in the wind industry is increasing due to the growing use of composites as the material of choice to fabricate and bond wind turbine rotor blades, nacelle assemblies, gearboxes, and towers. Structural adhesives offer the benefit of enabling the production of lightweight components, provide outstanding shear and peel strength, faster curing, excellent impact resistance, and durability. These superior qualities are expected to drive the demand for structural adhesives in this application segment during the forecast period.

APAC is expected to account for the largest market share during the forecast period.

The Asia PacificStructural Adhesives Market is expected to drive the global industry growth during the forecast period, 2019 to 2024, which can be attributed to the rising demand for the product from economies such as India, China, South Korea, Vietnam, Taiwan, and Singapore, among others. Moreover, factors such as the improving standards of living and rising per capita incomes in these countries are also fueling the growth of the Asia Pacific structural adhesives market.

Key Market Players

The key companies profiled in this report are the Henkel (Germany), Huntsman (US), 3M (US), H.B. Fuller (US), Sika (Switzerland), Illinois Tool Works (US).

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Browse Adjacent Markets: Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting

Related Reports:

Moisture Curing Adhesives Market by Chemistry (Polyurethane, Silicone, Cyanoacrylate, Polyolefin), Application (Construction, Automotive, Wood Working, Textile, Others), and Region - Global Forecast to 2021

Construction Adhesives Market by Resin Type (Acrylic, PVA, PU, Epoxy), Technology (Waterborne, Reactive, Solventborne), End Use Sector (Residential, Non-residential, Infrastructure), and Region - Global Forecast to 2022

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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