Structural Adhesive Market Forecast, Trend Analysis & Competition Tracking – Global Review 2021 to 2031
SEOUL, SOUTH KOREA, January 14, 2022 /EINPresswire.com/ — The demand for structural adhesives witnessed strong decline in 2020 due to stringent rules and regulations imposed in Covid-19 pandemic. Lockdown caused a postponement in structural adhesives production and deliveries. As the impact of pandemic is getting down in 2021, the market players are focusing on stabilizing their position through continuation in their relentless efforts.
In 2021, shifting preferences from welding, rivets and traditional fastening methods to advanced structural adhesives continues to boost the growing demands for structural adhesives in different sectors. Presence of volatile organic compounds in these adhesives usually have an adverse impact on human health causing nausea, headache, kidney damages etc that somehow restricts some users to use these adhesives. However, manufacturers are launching many new and highly advanced structural adhesives with reduced concentration of organic compounds to create considerable attraction among the users in 2021.
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Growth in infrastructure and increasing government spending in construction and commercial buildings is expected to drive the demand for structural adhesive in the construction sector. Moreover, changing trends in furniture designs are likely to boost the demand further.
In recent years, the use of advanced adhesive technologies has become prominent in the construction sector. Development of processes and technologies for easy heal, recycle, and self-heal of the bonded structure is also gaining traction across the globe with a rise in modern infrastructure.
The demand for polyurethane adhesive is growing owing to the increasing demand for bonding of sheet molding compounds, plastics, and cryogenic application. Meanwhile, the growth in marine and transportation industry is driving the demand for methacrylate adhesives. The structural adhesives sales in the transportation industry is likely to increase owing to its ability to reduce weight, enhance composites structural integrity and increase fuel efficiency.
Stringent environmental regulation by governments are likely to hamper the growth of structural adhesives. There has been a rise in standards related to the VOC emission and solvent-based formulations. Owing to the harmful effects of VOC, countries including Canada, the US, and European Union have imposed strict regulations on VOC emissions.
Regulations on the solvent based adhesives including VOC are driving the demand for water-based structural adhesives. This has also led to the increase in the development of new structural adhesives using eco-friendly formulations.
Asia Pacific Key to Structural Adhesive Market Growth
Asia Pacific and Japan are likely to continue dominance in the structural adhesive market. The demand for structural adhesive is growing in India and China owing to the significant rise in the infrastructure and construction sector. India is likely to spend billions on development of infrastructure. Meanwhile, countries across the globe are showing significant interest in investing in India, with a special focus on renewable energy, real estate, textile and automotive sector.
The major demand for structural adhesive in Asia Pacific is likely to come from automotive, infrastructure, marine, and truck and bus application. North America and Europe are also expected to witness significant growth in the structural adhesive market. Increasing use of lightweight and small components in various sectors in the US is driving the demand for structural adhesives in the country.
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Structural Adhesive Market – Competitive Landscape
With stringent government regulations on coatings and adhesives, manufacturers in the structural adhesive market are focusing on developing new eco-friendly structural adhesives. Moreover, the latest trend towards lightweight design and high productivity is increasing the use of structural adhesives providing an opportunity for product innovation.
The manufacturers are focusing on new product development. For instance, Arkema has introduced new UV-curable resins. The new resins offer various benefits including flexibility, durability, and impact resistance.
Some of the leading players in the structural adhesive market are
Hubei Huitian Adhesive Enterprise Co.
Dow Chemical Company
The structural adhesive market research report provides analysis and key insights on the market along with the facts. Historical data and forecast on the structural adhesive market are also included in the report. The study includes details on important factors influencing growth in the structural adhesive market. Unique research methodology is used including both primary and secondary research on the structural adhesive market.
Regional Data Analysis of Structural Adhesive Market Report Is Based On:
Structural adhesive market in North America (Canada and U.S.)
Latin America structural adhesive market (Brazil and Mexico)
Structural adhesive market Eastern Europe including (Russia and Poland)
Western Europe structural adhesive market (Italy, UK, Spain, Germany, and France)
Asia Pacific structural adhesive market (Australia, ASEAN, China, New Zealand, and India)
Structural adhesive market in Japan
Middle East and Africa structural adhesive market (GCC Countries, North Africa, and South Africa)
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