The latest market report published by Credence Research, Inc. “Global Structural Adhesives Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global structural adhesives market has witnessed rapid growth in recent years and is estimated to grow at a CAGR of 6.3% between 2023 and 2030. The market was valued at USD 21.3 billion in 2022 and is anticipated to reach USD 32.66 billion in 2030.
Metal substrates are leading the market, while composite substrates are expected to witness rapid growth. Water-based technology dominates the market, and epoxy resin type holds a significant share. The building & construction sector is the largest application segment. North America is the current global market leader, followed by Europe, while the Asia-Pacific region shows promising growth potential.
The market is primarily driven by the demand for lightweight and high-performance materials in various industries, including automotive, aerospace, and construction. Advancements in adhesive technologies, such as improved bonding capabilities and enhanced durability, are further propelling the market growth. However, the global market faces challenges such as regulatory uncertainties and volatile raw material prices, which can hinder market expansion. On the other hand, the global structural adhesives market presents opportunities for growth, including the development of bio-based adhesives to meet sustainability demands, expansion into new applications such as medical devices and electronics, and R&D investments to enhance product performance and meet evolving customer needs.
Key players in the global structural adhesives market include Ashland Global Holdings Inc, DuPont, H.B. Fuller, Henkel Ag & Co. KGAA, Huntsman Corporation, Lord Corporation, Scott Bader Co., Sika AG, The 3M Company, and Uniseal Inc, among others. These companies have established a strong foothold in the market through extensive product portfolios, technological advancements, and strategic collaborations. They are focused on innovation and product development to meet the evolving demands of various industries such as automotive, aerospace, construction, and electronics. Additionally, these key players emphasize expanding their global presence through mergers, acquisitions, and partnerships to gain a competitive edge in the market.
Structural Adhesives Market Major Challenges revolve around several key factors that pose significant hurdles for industry players. One of the major challenges is the constantly evolving regulatory landscape, where stringent rules and regulations regarding chemical usage necessitate continuous compliance efforts. This requires extensive research and development to formulate adhesives that meet environmental standards without compromising on performance. Additionally, market competition poses another challenge as manufacturers vie to create innovative products with unique properties to gain a competitive edge. Balancing cost-effectiveness while maintaining quality and durability becomes crucial in this highly competitive environment.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Structural Adhesives Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- Major nations in each region with their import/export statistics
- The global Structural Adhesives Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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