Structural Adhesive Market Size Worth $31.87 Billion By 2030

Structural Adhesive Market Growth & Trends

The global structural adhesive market size is expected to reach USD 31.87 billion by 2030, expanding at 5.9% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The growth is majorly propelled by growing construction activities on the account of growing population coupled with rapid economic development in world’s established and emerging countries such as China, U.S., India, and Germany, among others.

Another factor driving growth for structural adhesive industry include growing demand for furniture and consumer appliances products by global population. Additionally, growing global automotive industry is predicted to foster the demand for structural adhesives in the coming years. The product finds application in several automotive applications including seat structures, roof bonding, suspension struts, chassis, vehicle bodies, and other interior components.

The packaging industry has witnessed tremendous growth in recent years owing to the introduction of nanotechnology, intelligent digital printing solutions, and lightweight packaging materials. Adhesives play an important role in packaging applications, mainly for carton sealing, labeling, crate bonding, and individual packaging. Rising consumer demand for smaller package sizes and growing awareness regarding resource wastage have spurred the development of intermittent adhesive technologies, which, in turn, is likely to boost the structural adhesives industry growth.

Structural and other adhesives are prepared with various polymers depending upon the type or grade. Urethane, acrylic, and epoxy resins are the most widely used adhesive types across diverse applications including automotive, construction, and packaging. Since major raw materials, such as polymers and additives, used in structural adhesives manufacturing are largely dependent on petrochemicals, volatility in petrochemical prices is expected to challenge the global structural adhesives industry growth over the forecast period.

Major market players have extensive presence throughout the value chain. A few of the major companies engaged in the manufacturing of structural adhesives include 3M, Dow, Ashland, Arkema S.A., and others. These companies have been the industry leaders due to constant product innovation backed by the rapid adoption of the latest technological interface.

The demand fluctuations from end-use industries have a direct impact on the structural adhesives industry due to the outbreak of Covid-19. Additionally, lockdown has impacted the industrial construction sector owing to stoppage in construction activities. This impacted the demand and supply chain of structural adhesives utilized in the sector. However, with the normalization in COVID curbs in 2021, relaxation of cross border trade restriction and re-opening of various industries globally has positively impacted the structural adhesives industry.

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Structural Adhesive Market Report Highlights

• Epoxy structural adhesives is the fastest growing product segment by revenue with a CAGR of 6.3% on the account of its increasing use in aerospace, automotive, and industrial applications

• Water-based technology is the fastest growing technology segment by revenue with a CAGR of 6.1% due to its growing use in developing partitions and insulation panels in construction sector

• Transportation is the fastest growing application by revenue with a CAGR of 6.1% because of increasing transportation activities owing to the rapid urbanization and industrialization

• Asia Pacific is the fastest growing region by revenue with a CAGR of 6.3% owing to the growing construction and transportation industry in countries like China, India, and Japan

• Covid-19 affected the market owing to the shutdown of adhesives market for a significant period of time, which disrupted the supply chain of structural adhesives, thus, it affected the market growth

• Structural adhesive’s playersare also boosting their production capacities in order to keep up with the rising demand from end-use industries such as construction, and transportation industry 

Structural Adhesive Market Segmentation

Grand View Research has segmented the global structural adhesive market based on product, technology, application, and region:

Structural Adhesive Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Urethane

• Epoxy

• Acrylic

• Cyanoacrylic

• Others

Structural Adhesive Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Water-based

• Solvent-based

• Others

Structural Adhesive Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Transportation

• Construction

• Consumer Appliances

• Furniture

• Others

Structural Adhesive Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Indonesia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players of Structural Adhesive Market

• Henkel AG & Co. KGaA

• Dow

• 3M

• HB Fuller Company

• Franklin International, Inc.

• Avery Dennison Corporation

• Ashland Global Specialty Chemicals Inc.

• Lord Corporation

• Arkema S.A.

• Scott Bader Co.