NEWARK, Del, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The structural adhesive market is expected to reach US$ 12,276.7 million in 2023. The market is predicted to reach a value of US$ 19,619.8 million in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 4.8%.
Biocompatibility and the ability to bond with biological tissues and materials will continue to be key features of medical and biomedical adhesives. The flexibility of adhesives comes from their ability to bond plastics, metals, and composites together. The benefits of these technologies allow engineers and designers to create innovative and lightweight structures.
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The use of structural adhesives can reduce the risk of corrosion in marine and offshore industries, where corrosion is a concern. Structured adhesives can seal and insulate, making them good for applications that need to resist moisture, substances, or temperature variations. In industries such as automotive and aerospace, structural adhesives can be valuable for reducing vibrations and noise.
Using adhesives instead of welds and rivets can help reduce the amount of emissions and waste produced during the application and removal of these materials as environmental regulations become more stringent. Along with simplifying and speeding up the production process and reducing the number of mechanical fasteners, adhesive bonding can be a simple and effective way of simplifying and speeding up the production process.
Researchers and engineers are constantly working on developing new adhesive materials with improved properties. These may include adhesives that are stronger, more durable, resistant to extreme temperatures, and compatible with a wider range of substrates.
An adhesive formulation can be improved by using nanomaterials like nanoparticles and nanotubes. The properties of these nanomaterials can be improved in terms of adhesion strength, toughness, and resistance to environmental factors. Smart or adaptive properties may be added to structural adhesives market growth in the future. In the case of adhesives, self-healing capabilities or improved flexibility can be achieved by changing their properties with changes in the environment or mechanical stress.
Key Takeaways from the Structural Adhesive Market Report:
- According to FMI, building & construction are expected to hold 38.3% of market revenue by 2033.
- A market share of 39.1% is anticipated for PU-based products in the structural adhesive market.
- The United Kingdom is expected to record a CAGR of 3.7% until 2033.
- In 2033, the demand for structural adhesives in the United States is expected to increase by 4.6% CAGR.
- By 2033, the structural adhesives market in India is predicted to expand at 6.4% CAGR until 2033.
“Eco-friendly and sustainable structural adhesives are growing in demand on the market. A growing number of construction projects and a strong need for high-quality sealants and insulation will drive market growth in the near future." - says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
Scope of Report:
| Attributes | Details | ||
| Estimated Market Size in 2023 | US$ 12,276.7 million | ||
| Projected Market Valuation in 2033 | US$ 19,619.8 million | ||
| Value-based CAGR 2023 to 2033 | 4.8% | ||
| Forecast Period | 2023 to 2033 | ||
| Historical Data Available for | 2018 to 2022 | ||
| Market Analysis | Value in US$ million | ||
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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Competitive Landscape:
Structural adhesives are a highly competitive market that several companies occupy. Niche markets for specific demographics are becoming more popular. Strong partnerships and a focus on innovation have helped the market. Recent developments have led to the introduction of a number of structural adhesives.
Market Developments Include:
- In April 2023, Henkel streamlined its Adhesive Technologies business by establishing three instead of four business areas. In order to accomplish this objective, they have introduced a new organizational structure, which consists of three divisions, mobility & electronics, packaging & consumer goods, and craftsmen, construction & professional services.
- In June 2023, Bostik and Polytec PT launched a new thermal conductive adhesives range to accelerate innovative battery designs. Thermal management - or TIMs - plays an increasingly important role in e-mobility, characterized by fast charging.
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Structural Adhesive Market Segmentation:
By Product Type:
- Epoxy-based Structural Adhesive
- One Component
- Two Component
- Acrylic-based Structural Adhesive
- Polyurethane-based Structural Adhesive
- Cyanoacrylates
- Others
By Application:
- Transportation Sector
- Automotive Sector
- Aerospace Sector
- Marine Sector
- Building & Construction Sector
- Energy Sector
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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