Structural Adhesives Market Size, Share, Opportunities, And Trends By Type (Epoxy, Urethanes, Acrylic, Methyl Methacrylate, Others), By Industry Verticals (Automotive, Construction, Energy and Power, Aerospace and Defense, Consumer Electronics, Others), And By Geography - Forecasts From 2022 to 2027

The structural adhesives market is expected to grow at a CAGR of 4.10% during the forecast period, reaching US$12.686 billion in 2029, up from US$9.577 billion in 2022.

A structural adhesive is an adhesive that "solidifies" or cures into a substance capable of binding two or more surfaces together over the product's lifespan while enduring the stresses involved. The product can be subjected to stress, vibration, chemical exposure, temperature changes, and other likely weakening or destructive forces while remaining connected. Metals, plastics, glass, rubber, ceramics, and composites may be used as substrates.

Structural Adhesives Market Trend

The global structural adhesives market is expected to grow substantially, mainly due to its increasing adoption in the automotive industry. The automotive and aerospace industries have started implementing these adhesives to ensure lightweight and impact resistance. The economic growth in developing countries has further increased demand for the structural adhesive market. The Asia Pacific region has been reported to have the largest market share due to the rapid adoption of adhesives in automotive and industrial manufacturing. The Asia Pacific region has also noticed the highest growth rate in the sector and is expected to continue leading the market during the forecasted period.

Structural Adhesives Market Drivers

• Increasing Automotive Developments

Structural adhesives were introduced as a low-volume alternative in the automotive industry to make cars lightweight. However, car manufacturers realized the potential and started using it for mainstream production. In this regard, the growing usage of structural adhesives is being driven by a growing dependence on high and ultrahigh-strength steels and aluminum for body structures, notably unitized bodies-in-white (BIW), to reduce weight without losing crash-mitigating strength or handling-degrading stiffness. Japan has also recorded increased usage of structural adhesives in the automobile sector. Japanese auto-makers were skeptical of the capabilities of structural adhesives but have since realized their potential and started to use such adhesives in manufacturing automobiles.

Having known the vast benefits of structural adhesives, electric vehicles (EVs) have also started using such adhesives to serve as a lightweight alternative for other binding materials. According to the International Energy Agency, electric car sales broke new records through 2024, with momentum expected to continue. Robust growth was seen in the electric car market, with sales growing to nearly 14 million in 2023. Regarding this, the share of electric cars in total sales has increased from around 4% in 2020 to 18% in 2023. In the first quarter, around 3 million electric cars were sold, which was about 25% more than in the same period last year. By the end of 2024, the sales are expected to reach around 17 million, representing a further 20% increase in year-on-year growth, with new purchases accelerating in the second half. Thus, with the increasing trend of electric vehicles, the demand for structural adhesives is also expected to rise.

Structural Adhesives Market Key Developments

Structural adhesives act as a reliable alternative to traditional adhesion techniques. This market has reported rapid developments in the sector, which have led to a surge in the demand for the product,

Bostik has announced the development of a prototype cyanoacrylate ('superglue') adhesive "for long-term essential applications, such as those required in the automotive and electronics industries," according to the company. It will expand the usage of instant adhesives beyond repair and maintenance applications, making them a long-term structural engineering solution. This adhesive tends to be flexible and can be stretched long before reaching its full potential. The adhesive has also been reported to be hydrophobic and can withstand environmental wear and tear.

The Virginia Department of Transportation (VDOT) has started using structural adhesives as a "steel grout" in cases where cracks or gaps have formed on steel girder bridges in recent years. Steel bridges are prone to problems like corrosion and natural damage. Most screws and bolts need to be replaced or repaired every few years owing to their corrosive features. On the other hand, structural adhesives act as a non-corrosive and strong binding material for bridges while also allowing little flexibility to ensure that the bridges can withstand the impact of natural calamities. 

Structural Adhesives Market Restrain

Structural adhesives do come with a lot of advantages. However, most structural adhesives pose a threat to the environment and also to the health and well-being of people. The two most prevalent compounds discovered in structural adhesives are phthalates and formaldehyde. Both of these compounds are prone to off-gassing, which means that when they dry, they produce emissions. These emissions have the potential to substantially influence air quality and human health, with negative effects ranging from skin irritation to liver and kidney damage. Although phthalates and formaldehyde are the most commonly mentioned compounds in adhesives, there are numerous more.

The need for green adhesives or those with low VOC increases as the demand for eco-friendly or green products in various applications grows. The USEPA (the United States Environmental Protection Agency), REACH (Registration, Evaluation, Authorization, and Restrictions of Chemicals) in Europe, LEED (Leadership in Energy and Environmental Design) in the United States, and other regional regulatory bodies have all pushed manufacturers to create environmentally friendly adhesives with low VOC levels.

However, many companies have started manufacturing environment-friendly adhesives due to these regulations. Companies such as 3M and Master Bond have started to produce nature-friendly adhesives to comply with government regulations and sustain the environment.

The structural adhesives market key developments:

• February 2022: Arkema finalized the acquisition of Ashland's Performance Adhesives business, with a transaction value of USD 1.65 billion. This division offers structural adhesives. This acquisition helped strengthen Arkema's Adhesive Solutions segment and aligned with the company's strategy to become a pure specialty material player by 2024.
• January 2022: H.B. Fuller Company announced that it had finalized its purchase of Apollo, a manufacturer of liquid adhesives, coatings, and primers for the roofing, industrial, and construction markets. Apollo is expected to strengthen H.B. Fuller's position in important, high-value, high-margin areas in the United Kingdom and Europe. Apollo will operate inside H.B. Fuller's current Construction Adhesives and Engineering Adhesives business units.
  

The structural adhesives market is segmented and analyzed as follows:

• By Type
  • Epoxy
  • Urethanes
  • Acrylic
  • Methyl Methacrylate
  •  Others
• By Industry Verticals
  • Automotive
  • Construction
  • Energy and Power
  • Aerospace and Defense
  • Consumer Electronics
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Rest of the Middle East and Africa
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.2.1. Threats from Substitutes

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. STRUCTURAL ADHESIVES MARKET BY TYPE

5.1. Introduction

5.2. Epoxy

5.3. Urethanes

5.4. Acrylic

5.5. Methyl Methacrylate

5.6.  Others

6. STRUCTURAL ADHESIVES MARKET BY INDUSTRY VERTICALS

6.1. Introduction

6.2. Automotive

6.3. Construction

6.4. Energy and Power

6.5. Aerospace and Defense

6.6. Consumer Electronics

6.7. Others

7. STRUCTURAL ADHESIVES MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. 3M

9.2. DuPont 

9.3. SIKA AG

9.4. Scott Bader Company Ltd

9.5. ITW Performance Polymers

9.6. Arkema

9.7. Chemical Concepts (LORD)

9.8. Henkel AG

9.9. Shanghai Huitian New Material Co., Ltd.

9.10. H.B. Fuller

9.11. Huntsman International LLC

3M

DuPont 

SIKA AG

Scott Bader Company Ltd

ITW Performance Polymers

Arkema

Chemical Concepts (LORD)

Henkel AG

Shanghai Huitian New Material Co., Ltd.

H.B. Fuller

Huntsman International LLC