9th December 2019 – Global Structural
Adhesives Market is estimated to reach USD 23.42 billion by 2022 owing
to the growth in automation in developing economies like Brazil, Mexico, China
and India. Structural adhesives are the material used to produce a load bearing
joint. They are especially used for engineering applications, where joints
typically have greater lap shear strengths. Structural adhesives are used in
wide range of assembly operations. They do not require drilling holes, or need
the heat distortion, but can join disparate without galvanic corrosion. In
addition to this, they are responsive to different geometrics, do not need
refinishing steps or leave protrusions and give aesthetic appearance.
Structural adhesives play an important
role in the movement of composite materials which enable significant weight
reduction and better stiffness as compared to the metals. In comparison to the
composites, which are not responsive to solvent welding and where drilling can
damage components, structural adhesives are an excellent choice for these
materials. Owing to its increase in demand for wallpapers, joint cements, automotive
assembly applications and household appliances, structural adhesives market is
expected to grow at a CAGR of 6.9% in the forecast period.
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Structural adhesives offer exceptional
bond strength and speedy curing for different and similar substrates in the
automobile segment, which will certainly affect the market growth in future.
They are formulated to improve the safety & performance, and lower the
vehicle weight. The industry players are emphasizing on manufacture of special
performance products for automobile applications, used for interior and
exterior of vehicles like, hoods, deck lid flanges, doors, roof panels, and
interior dashboards. Improved living standards and increase in per capita
income amongst youth in developing economies is propelling the growth of
automobile market. Also, increasing awareness for light weight vehicles and
fuel economy is expected to augment the market.
Structural adhesives industry is also
driven by the extensive use structural adhesives for bonding helicopters &
aircraft’s components and airframes. They offer high quality finishing for
crucial aircraft fabrication applications like engine components to control
vibrations, edge, and core filling materials for strengthening structural
components and primary substrates, and honeycomb sandwich panels for stiff
interior panels and to reduce weight.
The growing global tourism trend,
increasing disposable income, and reduced air fares because of the competition
among air liners has resulted to affordable air travelling, which is expected
drive the aerospace industry in the years to come. With the introduction of
modern welfare technologies, increasing military expenditure to build heavily
equipped and lethal fighter planes will also influence the market in future.
Structural adhesives industry is
categorized on the basis of component, product, application, end user, and
geography. On the basis of component, the market is divided into single and
double component products. Single component is mostly used in furniture, water
& sewer, and leather industries. The double components are mostly used
where safety is a major concern and where bond failure may have dangerous
consequences. Hence, both components are expected to register significant
contributions in the market.
Based on product, structural adhesives
market is divided into polyurethane, epoxy and acrylic. Epoxy segment is
predicted to lead the market due to its excellent bonding required in wide
range end use industries. On the basis of application, structural adhesives
industry is divided into composites, plastics, metals, wood, concrete &
tiles, and leather. Metal segment is expected to hold larger market share of
structural adhesives due to its extensive use in automotive, building and
construction, marine, bus & truck, aerospace, wind energy, and rail
industries.
Based on end users, structural adhesives
market is segmented as automobiles, aviation & aerospace, and wind energy.
Owing to the growing demands for renewable energy, wind energy will hold larger
market share of structural adhesives in the forecast period. Geographically,
the market is segmented as North America, Europe, Asia Pacific, and Middle East
& Africa. Owing to the increase in demand for structural adhesives form
developing economies, Asia Pacific is expected to dominate market in future.
The key players in structural adhesives
industry include Arkema, Ashland, 3M Company, Illinois Tool Works, Dow Chemical
Company, Lord Corporation, SIKA AG, L&L Products, Henkel AG, Master Bond,
Elantas, Parson Adhesives, Panacol-Elosol, Hubei Huitian Adhesive Enterprise,
Permabond, and Scott Bader.
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