Structural Adhesives Market is estimated to reach 8,243.8 kilo tons by 2022
Global structural adhesives market is expected to reach USD 23.42 billion by 2022, according to a new study by Grand View Research, Inc. Increasing automotive production particularly in emerging markets of China, India, Brazil and Mexico is expected drive the global structural adhesives market. Rigid bonding applications such as window glazing, wood panels and decorative trims require structural adhesives for fast setting and load bearing purposes. Industrialization and urbanization are expected to drive construction industry growth in emerging as well as developing nations, which further prompts structural adhesives demand.
Water-based structural adhesives accounted for over 55% of the overall market volume in 2014. Increasing regulatory intervention from environmental agencies regarding VOC presence in solvent-based adhesives has positively impacted water-based structural adhesives demand. Additionally, its superior drying rate and semi-flexibility post drying are major factors contributing towards their increasing demand in joint cements, wall coverings, household appliances and automotive assembly applications. It is also expected to witness the highest growth of 6.9% from 2015 to 2022.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/structural-adhesives-market
Further key findings from the study suggest:
• Global structural adhesives market demand was 5,158.3 kilo tons in 2014 and is expected to reach 8,243.8 kilo tons by 2022, growing at a CAGR of 6.8% from 2015 to 2022.
• Urethanes were the leading product segment and accounted for over 60% of the overall market volume in 2014. Urethane adhesives are primarily used for plastic adhesion in various rigid bonding applications. Increasing incorporation of plastics and composites in automotive components is expected to drive its demand over the forecast period. Cyanoacrylic adhesives are expected to witness the highest growth of 8.5% from 2015 to 2022.
• Major structural adhesive applications include transportation and construction which collectively accounted for over 45% of the total market volume in 2014. Positive outlook on automotive industry coupled with increasing construction spending particularly in China, India and Indonesia is expected to drive this segment over the forecast period. Adhesives with organic solvent composition are gaining acceptance in medical devices. Additionally, niche application segments such as industrial machinery and packaging are anticipated to register significant structural adhesives demand over the forecast horizon.
• Asia Pacific was the largest regional market and accounted for 45.0% of total consumption in 2014. Major structural adhesive consumers in the region include China and India which together accounted for over 55% of the regional market volume in 2014.
• Global structural adhesives market is concentrated in nature with small scale companies catering to application specific end-use markets. Product pricing, partnership agreements and R&D in product innovation are expected to maintain competitiveness in the market. Major industry participants include SIKA, Arkema AG, 3M Company, The Dow Chemical Company, Ashland Inc., Henkel AG & Co., and Lord Corporation.
Browse All Reports of this category @ http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Water-based structural adhesives accounted for over 55% of the overall market volume in 2014. Increasing regulatory intervention from environmental agencies regarding VOC presence in solvent-based adhesives has positively impacted water-based structural adhesives demand. Additionally, its superior drying rate and semi-flexibility post drying are major factors contributing towards their increasing demand in joint cements, wall coverings, household appliances and automotive assembly applications. It is also expected to witness the highest growth of 6.9% from 2015 to 2022.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/structural-adhesives-market
Further key findings from the study suggest:
• Global structural adhesives market demand was 5,158.3 kilo tons in 2014 and is expected to reach 8,243.8 kilo tons by 2022, growing at a CAGR of 6.8% from 2015 to 2022.
• Urethanes were the leading product segment and accounted for over 60% of the overall market volume in 2014. Urethane adhesives are primarily used for plastic adhesion in various rigid bonding applications. Increasing incorporation of plastics and composites in automotive components is expected to drive its demand over the forecast period. Cyanoacrylic adhesives are expected to witness the highest growth of 8.5% from 2015 to 2022.
• Major structural adhesive applications include transportation and construction which collectively accounted for over 45% of the total market volume in 2014. Positive outlook on automotive industry coupled with increasing construction spending particularly in China, India and Indonesia is expected to drive this segment over the forecast period. Adhesives with organic solvent composition are gaining acceptance in medical devices. Additionally, niche application segments such as industrial machinery and packaging are anticipated to register significant structural adhesives demand over the forecast horizon.
• Asia Pacific was the largest regional market and accounted for 45.0% of total consumption in 2014. Major structural adhesive consumers in the region include China and India which together accounted for over 55% of the regional market volume in 2014.
• Global structural adhesives market is concentrated in nature with small scale companies catering to application specific end-use markets. Product pricing, partnership agreements and R&D in product innovation are expected to maintain competitiveness in the market. Major industry participants include SIKA, Arkema AG, 3M Company, The Dow Chemical Company, Ashland Inc., Henkel AG & Co., and Lord Corporation.
Browse All Reports of this category @ http://www.grandviewresearch.com/industry/plastics-polymers-and-resins