Structural Adhesives Market is Predicted to Grow at 5.6% CAGR through 2023-2033 & Expected to Surpass US$ 21.3 Bn by 2033 – Future Market Insights, Inc.

December 30, 2022

NEWARK, Del, Dec. 30, 2022 (GLOBE NEWSWIRE) -- The structural adhesives market is expected to be worth US$ 12.3 billion in 2023, rising to US$ 21.3 billion by 2033. During the forecast period, structural adhesive sales are expected to grow at a significant CAGR of 5.6%. The growing adoption of structural adhesives in the automotive sector for various end-use applications, as well as technological advancements in the production of adhesive products, is a major factor driving the growth of the global structural adhesives market. Furthermore, rising demand for structural adhesives in the construction sector for applications such as kitchen interiors, roofing, window panels, and wall coverings is propelling the global structural adhesives market forward. Request a Sample PDF: Rising government infrastructure and redevelopment projects, particularly in emerging economies, are expected to drive growth in the global structural adhesives market during the forecast period. The global market for structural adhesives is growing, but it is being constrained by strict regulations put in place by regulatory agencies to prevent harmful environmental consequences from structural adhesives. For companies in the global structural adhesives market, increasing research and development efforts for the creation of safe, environmentally friendly structural adhesives with little to no environmental impact can open up profitable opportunities. Key Takeaways from the Structural Adhesives Market The segment for polyurethanes is anticipated to experience the highest CAGR growth of 5.1% during the forecast period. The growth is attributed towards its uses in various end user industries.With a revenue share of over 25.0% in 2021, the building and construction sector had the greatest revenue share. Construction expenditures are predicted to rise as a result of economic development and population growth.The Asia Pacific area had the largest percentage of almost 30% in terms of revenue in 2021. Its expansion is due to a surge in construction activity in countries including China, India, Japan, South Korea, and Indonesia.U.S. will generate revenue of USD 4.2 Bn by 2033 due to the rise in construction and building maintenance activity.About 35 to 40 percent of the demand is met by the top 6 to 8 companies. Small and medium-sized firms, which are gradually dispersing across the regions, collectively account for the remaining 60% of the market.In terms of revenue share in 2021, Europe came in second. The construction industry is a significant contributor to the region's GDP, accounting for around 9% of total product demand in this area. Talk With Our Expert: Competitive Landscape The presence of a sizable number of local and international companies across geographies is what distinguishes the fragmented global structural adhesive market. Important participants include 3M, Sika, Henkel, H.B. Fuller, and Arkema (Bostik). The majority of major players are attempting to grow their businesses through lucrative alliances, acquisitions of small or mid-sized active vendors, or the acquisition of a specific adhesive sector to increase their footprint across the globe. Arkema completed the acquisition of Ashland's Performance Adhesives division in February 2022. Structural adhesives are among the products available under this division. The acquisition was worth USD 1.65 billion. The acquisition supported Arkema's strategy to become a pure speciality material provider by 2024 and strengthened the company's Adhesive Solutions division.DuPont said in May 2021 that it will increase the output of its high-performance automobile adhesives at its manufacturing facilities in Germany and Switzerland by investing USD 5 million in capital and operating resources. This facility is planned to advance the production of the company's goods, including BETAFORCE TC, BETATECH, BETAMETA, and BETASEAL. Key Segments in the Structural Adhesives Market Structural Adhesives Market by Product Type: Epoxy-based Structural Adhesives One ComponentTwo Component Acrylic-based Structural AdhesivesPolyurethane-based Structural AdhesivesCyanoacrylatesOthers Structural Adhesives Market by Application: Structural Adhesives for Transportation Sector Structural Adhesives for Automotive SectorStructural Adhesives for Aerospace SectorStructural Adhesives for Marine Sector Structural Adhesives for Building & Construction SectorStructural Adhesives for Energy SectorOthers By Region: North AmericaLatin AmericaEuropeSouth Asia & PacificEast AsiaMiddle East & Africa (MEA) Get 40% Discount on Customized Report: Table of Content 1. Executive Summary     1.1. Global Market Outlook     1.2. Demand-side Trends     1.3. Supply-side Trends     1.4. Technology Roadmap Analysis     1.5. Analysis and Recommendations 2. Market Overview     2.1. Market Coverage / Taxonomy     2.2. Market Definition / Scope / Limitations 3. Market Background     3.1. Market Dynamics     3.2. Scenario Forecast     3.3. Opportunity Map Analysis     3.4. Product Life Cycle Analysis     3.5. Supply Chain Analysis     3.6. Investment Feasibility Matrix     3.7. Value Chain Analysis     3.8. PESTLE and Porter’s Analysis     3.9. Regulatory Landscape     3.10. Regional Parent Market Outlook     3.11. Production and Consumption Statistics     3.12. Import and Export Statistics 4. Global Market Analysis 2017-2022 and Forecast, 2023-2033     4.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis, 2017-2022     4.2. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Projections, 2023-2033 Browse Full Report: Explore wide-ranging Coverage of FMI’s Chemicals & Materials Market Insights Landscape: Automotive Refinish Coatings Market Size: The automotive refinish coatings market size is projected to be valued at US$ 7.7 Bn in 2023 and is expected to rise to US$ 12.9 Bn by 2033. The sales of Automotive Refinish Coatings are expected to grow at a significant CAGR of 5.1% during the forecast period.  Industrial Oxygen Market Share: The global industrial oxygen market is expected to be valued at US$ 70.54 Bn in 2023 and to reach a valuation of US$ 158.02 Bn by 2033. Metallic Stearates Market Demand: The metallic stearates market size is projected to be valued at US$ 2.6 Bn in 2023 and is expected to rise to US$ 4.0 Bn by 2033. The sales of metallic stearates are expected to grow at a significant CAGR of 4.5% during the forecast period. Plywood Market Growth: The global plywood market is expected to reach a valuation of US$ 156.9 Bn by 2033. The market is projected to grow at a CAGR of 6.3% during the forecast period, and is holding a valuation of US$ 85.5 Bn as of 2023. OEM Insulation Market Analysis: The OEM insulation market is expected to expand with an average CAGR of 4.2% during the forecast period. The market holds a share of US$ 16.2 Bn in 2023 and is anticipated to reach a revenue of US$ 24.5 Bn by 2033. About Future Market Insights, Inc. Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. 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