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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Structural Adhesives Market Size, Share, Industry Outlook & Forecast 2016-2023 Structural adhesives market size is likely to exceed 8.2 million tons by 2023, growing at a CAGR of over 6.5% from 2016 to 2023.
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Global structural adhesives market size was estimated over 5.1 million tons in 2014 and is likely to exceed 8.2 million tons by 2023 growing at a CAGR of over 6.5% from 2016 to 2023. Water-based structural adhesives was the dominant technology accounted for more than 55% of the total volume in 2014 and are likely to witness gains of over 6.8% up to 2023. Urethane structural adhesives market dominated the demand and accounted for more than 60% of the total volume in 2014. Cyanoacrylic derived products are likely to witness highest gains of over 8% up to 2023. Asia Pacific, especially China and India structural adhesives market, was the dominant region and accounted over 40% of the total volume in 2014. China and India were the leading countries consuming the product and together accounted for more than 50% of the total volume in Asia Pacific. Global Market Scenario of Structural Adhesives Industry
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Increasing high performance plastic usage in transportation industry such as automobiles and aircraft is likely to drive automotive structural adhesive market growth. Automobile industry requires better bonding properties between different substrates such as steel-magnesium and steel- plastic. Global automobile demand was above 80 million units in 2012 and is likely to register over 100 million unit sales figure by 2018. Positive outlook on aircraft industry growth is likely to compliment demand. Composites used in aircraft manufacturing require adhesives for maintaining structural integrity with better adhesion properties. Increasing investment in construction for building residential & commercial buildings in emerging regions such as Asia Pacific and MEA is likely to favor demand. Structural adhesives are used in construction application such as wall coverings, roofs and window panels. China was the dominant country in Asia Pacific exhibiting highest construction spending of close to USD 1.78 trillion in 2013 while India and Japan witnessed spending of USD 427 billion and 742 billion in the same year. This is expected to provide the MNCs with huge opportunities to expand their regional presence and increase their market penetration. Continue…
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com For Customization as per your requirement please click@ https://www.gminsights.com/roc/315 Research Methodology
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Asia Pacific has witnessed the highest consumption over the past few years. Rapid industrialization coupled with shift of automobile manufacturing bases in countries such as Thailand. Indonesia, China and India owing to government tax incentives and cheap labor cost is likely to favor regional demand. North America is likely to witness smoderate growth rates over the forecast period. Recovery of end-use industries post recession coupled with increasing consumer spending particularly in the U.S. is likely drive demand. The global structural adhesives market share is consolidated with MNCs serving the major end-use industries and SMEs to niche applications. Presence of regional distributing agents enables SMEs to efficiently market their product and increase sales. Key companies operating in structural adhesives market share include Ashland, Henkel, 3M Company, Dow Chemical Company, Ried BV, Scott Bader Company, Arkema, SIKA AG and Lord Corporation. Regional and Competitive Insights Request details from this report@ https://www.gminsights.com/request-toc/upcoming/315
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Inquire for Buying this report@ https://www.gminsights.com/inquiry-before-buying/315 The market is segmented into product types such as urethanes, acrylic, cyanoacrylic and epoxy. Other product consists of silicone and methacrylates. Urethane adhesives were largely consumed over the forecast period and are widely used for plastic bonding in numerous rigid & semi-rigid adhesion applications such as automotive and construction. Factors such as durability and high elasticity contribute towards better flexibility and energy absorption among dissimilar objects. Factors such as low toxicity and fast setting properties are likely to make cyanoacrylic adhesive the fastest growing product over the forecast period. They are suitable for applications such as medical devices, industrial machinery, household appliances and consumer goods. Water based adhesive formulations were the dominant technologies to be used in 2014. Factors such as rapid drying rates, water resistance and semi-flexibility are expected to drive its demand. They are used in rigid joining applications such as wall coverings, automotive assembly, furniture panels, joint cements, counter tops and household appliances. Products Insights
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© 2016 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com Latest Research Report On Structural Adhesives Market@ https://www.gminsights.com/industry-analysis/structural-adhesives-market- Request details from this report@ https://www.gminsights.com/request-toc/upcoming/315 For Customization in this report click@ https://www.gminsights.com/roc/315
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