SELBYVILLE, Delaware, Aug. 14, 2019 /PRNewswire/ -- Global Market Insights, Inc., announces a research report on 'Structural Adhesives Market Trends & Forecast to 2024'. The report covers an extensive summary of the component, product, application, and end-user landscapes. The regional and competitive analyses over the forecast timeframe are also covered in the study.
Rapid industrialization and rising disposable incomes worldwide have provided a lucrative growth platform for augmenting structural adhesives market share, with increased consumption across the infrastructure, automobile and furniture sectors. Structural wood adhesives are widely utilized in the manufacturing of various products under controlled environments to provide a bonding alternative with superior properties.
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These include benefits like longer product life and waterproof qualities, considerably promoting adoption of the materials. With global population anticipated to surpass the 8.1 billion mark by 2025, there would certainly be a higher demand for furniture and other wood products over the forecast period.
A primary driver for the expansion of structural adhesives industry share is the rising need for an alternative to welding metal, for reducing production time as well as countering physical safety hazards associated with welding. Epoxy-based adhesives have emerged as one of the leading product segments due to their high durability in challenging conditions and resisting chemical reactions against solvents.
- Concrete & tiles
These substances are ideally suited for structural bonding in high load bearing and transmission applications, demonstrating the significance of epoxy adhesives in segments such as marine and aerospace.
The ability to reduce costs by eliminating the need for mechanical fastenings and providing a better spot welding alternative will notable boost the demand for epoxy adhesives. Continuous advancements in manufacturing processes will result into the development of broader portfolio for key adhesive suppliers.
For instance, the deployment of light fixation will transform the use of two-component epoxy adhesives for providing customers with faster and less complicated processes. It enables improved final curing to lower energy costs for users, along with optimizing space on the factory floor, making it a viable option for adhesive welding.
Global structural adhesives market outlook from metals application is poised to witness considerable momentum due to an ever-growing consumer base and increased need to control business costs. Metal fabrication is a massive industry around the world and adhesives allow businesses to speed up the process.
The structural strength and integrity of products is enhanced, and the utilization of mechanical fasteners is eliminated. The tremendous economic potential of the sector can be gathered from the fact that more than 1.4 million people across the U.S. were employed in the fabricated metal manufacturing industry in 2018.
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Plastics have become a major part of numerous industrial as well as commercial end-use segments over the years, and manufacturing various products require the bonding of plastic with other materials including metals. Structural bonding adhesives are useful to reinforce the use of plastic in the automotive, furniture and other consumer segments.
Steady rise in the production of a wide range of automotive components such as truck door panels will create substantial growth opportunities for structural adhesives industry players over the coming years.
Marine adhesives encompass several applications in shipbuilding as well as repair and maintenance of existing vessels. These could involve metal and composite bonds and for bonding gears to the shafts, components which face challenging conditions during everyday operations on the sea.
Recreational marine vessels consist of galvanized and aluminium panels which require bonding, where adhesives help to ensure strength, waterproof and superior aesthetic characteristics. Reportedly, total retail sales of marine engines, accessories and new boats in the U.S. had reached USD 20.1 billion in 2017, representing a promising revenue pocket for structural adhesives market.
Browse key industry insights spread across 180 pages with 277 market data tables & 12 figures & charts from the report, "Structural Adhesives Market Share & Statistics, 2016 – 2024" in detail along with the table of contents:
North America is home to a number of leading metal fabricators, automakers and chemical manufacturers, providing a significant foundation for the demand and supply of structural bonding adhesives. According to the American Chemistry Council, chemical production in the U.S. had surged notably from 2018 on a year-to-year basis, which included products like adhesives.
Further, more than 11.3 million vehicles had been manufactured in the U.S. in 2018, indicating favorable North America structural adhesives market forecast from the automotive sector. Rising furniture sales in the region will also support the consumption of structural wood adhesives over the coming years.
Driven by the presence of several automotive players in the region, North America structural adhesives market size is expected to account for more than 20% of the industry share by 2024.
Analysis by Product
- Methyl methacrylate
Key products comprising the landscape of structural adhesive bonding include acrylic, epoxy, polyurethane and silicone, which are applicable depending on the properties required and end-user specifications. Global business trends will impact the adoption of adhesives across crucial application segments like leather, composites and building tiles, in conjunction with the gradual rise in consumer expenditure which bolsters the growth of residential construction.
Increased preference for implementing faster manufacturing processes in the aviation and automobile sectors will define structural adhesives industry outlook.
Prominent structural adhesive suppliers are Ashland, the Dow Chemical Company, Arkema, Henkel AG, 3M Company, Lord Corporation and Permabond, among many others. Companies are partnering with distributors and manufacturers to expand their global reach and develop innovative offerings.
Arkema, for example, had recently signed a deal with Brenntag Group as a U.S. distributor for waterborne resins, which are used in adhesives and other products. Henkel had teamed up with Elddis a few years ago for developing a caravan prototype and now about 90% of screws and bolts in Elddis' caravans have been replaced with adhesive bonding.
Competitive trends in structural adhesives industry will be underscored by evolving automotive sector which entails the need for lighter vehicles to improve fuel efficiency, prompting the substitution of mechanical fastening techniques and equipment.
Overcoming the safety issues related to using chemical adhesives, such as using suitable PPEs and regular training sessions, will propel the deployment of structural bonding adhesives to some extent. Remarkable cost and quality benefits achieved through adhesive welding will significantly augment the industry size.
The report provides a comprehensive understanding of factors influencing structural adhesives market size and offers reliable insights into the product segmentation. It informs about various players impacting the competitive dynamics of the market and studies their growth strategies along with remuneration scope. The market valuation has been highlighted in the report, which also consists of a detailed forecast across different segments over the projected timeframe.
Browse Complete Table of Contents @ https://www.gminsights.com/toc/detail/structural-adhesives-market
Partial Chapters from Table of Contents of the Report:
Chapter 3. Structural Adhesives Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor matrix
3.4. Industry impact forces
3.4.1. Growth drivers
126.96.36.199. Increasing adoption in automobile industry
188.8.131.52. Growing aerospace industry
184.108.40.206. Booming construction industry
3.4.2. Industry pitfalls & challenges
220.127.116.11. Stringent government regulations for aerospace adhesives and sealants
18.104.22.168. Operational and health safety issues with some types of structural adhesives
3.5. Growth potential analysis, 2015
3.6. Regulatory trends
3.7. Porter's analysis
3.8. Company market share analysis, 2015
3.9. PESTEL analysis
3.10. Regional price trends
3.10.1. Cost structure analysis
3.10.2. Raw material trends
Chapter 4. Structural Adhesives Market, By Component
4.1. Structural adhesives market share by component, 2015 & 2024
4.2. Single component
4.2.1. Market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecasts by region, 2013 – 2024
4.3. Double component
4.3.1. Market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecasts by region, 2013 – 2024
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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