DUBLIN--(BUSINESS WIRE)--The "Structural Adhesives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The market for the structural adhesives is expected to witness a CAGR of more than 5% during the forecast period. One of the major factors driving the market studied is the increasing demand from the construction and automotive sectors.
However, growing environmental and health concerns are expected to hinder the growth of the market studied.
- Construction industry dominated the market, and it is expected to grow during the forecast period.
- Growing research on underwater structural adhesives is likely to act as an opportunity in the future.
- North America dominated the market across the world with the largest consumption from the United States.
Key Market Trends
Increasing Demand from Construction Industry
- In the construction sector, structural adhesives are crucial, they are providing durability to materials, such as architectural membranes, caulks, wires and cable, roofs, etc. Structural adhesives are required to provide weatherability and durability, while remaining energy efficient and aesthetically appealing.
- They also reduce the need for maintenance that may put workers at risk. This is enhancing aesthetics and extending the life cycle of building facades and bridges.
- These adhesives avoid costs that are built into typical mechanically fastened joints and are highly aesthetic. They are cost-effective, due to reduced material costs, the number of parts, labor costs, and process time, and are also available in a wide variety of packaging and dispensing options - cartridge (convenience) packaging and bulk packaging.
- Structural adhesives provide processing convenience and overall assembly cost savings. Also, structural adhesives are easy to use, require minimal surface preparation, and require no drilling of through holes or tapping operations.
- They are engineered to form bonds that can support loads (via load-bearing joints) and are formulated to improve manufacturing processes and final products for a variety of composite, metal, and plastic assemblies.
- With the growing construction activities across the world, the demand for structural adhesives is projected to increase, during the forecast period.
North America Region to Dominate the Market
- The North America region dominated the global market share. The United States is one of the world's largest consumer of structural adhesives. It is one of the most prospective markets.
- The major companies are having their structural adhesives manufacturing facilities based out of the United States, hence, catering to the ready market available.
- The demand for new homes in the United States has been increasing consistently over the past few years, owing to the growing population and rising consumer income in the country.
- The construction industry in the United States continues to expand, owing to a strong economy and positive market fundamentals for commercial real estate, along with an increase in federal and state funding for public works and institutional buildings.
- Additionally, other factors, such as Tax Cuts and Jobs Act of 2017 as well as the hurricane rebuilding in the southeastern region of the United States, contributed to the growing activities in the construction sector of the country.
- In the industrial segment, owing to numerous political and financial reasons, many industries are establishing manufacturing units in the country, which, in turn, is increasing the demand for high-performance elastomers.
- Overall, the market for structural adhesives is anticipated to surge over the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Cabot Corporation
- Forgeway Ltd
- H.B. Fuller
- Henkel AG
- LORD Corporation
- RS Industrial
- SIKA Group
For more information about this report visit https://www.researchandmarkets.com/r/lb3oms