DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The Structural Adhesives Market is Expected to Grow from USD 14.0 Billion in 2019 to USD 19.4 Billion by 2024, at a CAGR of 6.9%, Between 2019 and 2024
APAC is the largest consumer of structural adhesives. Low-cost of manufacturing in APAC countries and high demand for structural adhesives in the region are driving its market growth.
Cyanoacrylate is the fastest-growing resin type of the structural adhesives market.
Among resins, cyanoacrylate segment is projected to grow at the highest CAGR during the forecast period. Cyanoacrylate-based structural adhesives offer distinct advantages as these are one-part solvent-free adhesives that cure immediately at room temperature and offer high bonding strength. These, therefore, provide optimized and efficient bonding solutions for various substrates.
Composites are projected to be the fastest-growing substrate bonded with structural adhesives market.
The composites substrate segment is projected to grow at the highest CAGR during the forecast period, 2019 to 2024. The use of composites in different applications reduces weight and increases efficiency, as composite materials (fiber reinforced plastic and glass fiber reinforced plastic) are lighter than metals, concrete, and brick. These structural adhesives provide strong bonds and high chemical & heat resistance.
APAC is the largest and projected to be the fastest-growing structural adhesives market.
APAC is the largest as well as the fastest-growing structural adhesives market. It encompasses a diverse range of economies with different levels of economic development and multiple industries. Growth is attributed mainly to booming economies such as China, India, and Taiwan, among other few smaller countries, such as Indonesia, and Vietnam.
China is the leader in the market for structural adhesives in terms of demand in the Asia Pacific. India is a rapidly emerging nation in the market due to the growth in various applications in the use of structural adhesives. The key market players are expanding their structural adhesives production in APAC, especially in China and India.
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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