Market Overview:
The global structural adhesive market has
registered significant growth on account of increase usage in automobile
industry. Automobile manufacturers have shifted their focus to make light
weight and fuel-efficient vehicles which in turn is using plastic automotive
parts. With the reason, the market is expected to witness a significant growth
in the upcoming years. According to MRFR analysis, global structural adhesive
market grew at USD 18.3 Billion in 2016 and is growing with a healthy CAGR of
7.9% during the period 2016 to 2022.
Some of the prominent factors behind the market
growth are continuous growth of building & construction sector, rising
automotive sales, increasing demand for furniture. Urethane structural adhesive
hold the largest market share on account of its low cost and excellent
properties such as superior elasticity and high durability. Water based
structural adhesive technology is the fastest growing technology on account of
stringent regulations imposed by various agencies on the use of solvent based
adhesive. Furthermore, rapid industrialization along with rising government
spending for improving public transport and infrastructure for the betterment
of public has anticipated to be the key driving factor for market growth.
Competitive Landscape
Structural adhesive production capacities are
concentrated in Asia Pacific with increasing demand from end use industries.
Players in structural adhesive market adopted numerous strategies to expand
their footprint and increase their market share. The key strategies followed by
major players in the global Structural Adhesive Market were agreements and
collaborations, mergers and acquisitions, joint ventures and expansion. On
account of growing demand of structural adhesive in Asia Pacific region, the
manufacturers in North American and European region are using acquisition
strategy in the Asia Pacific and global market.
· The
Dow Chemical Company
· Ashland
Inc.
· SIKA
AG
· Henkel
AG & Co.
· Lord
Corporation
· 3M
· Scott
Bader Company
· Arkema
S.A
· Hubei
Huitian Adhesive Enterprise Co.
·
Ried B.V. Co.
Industry/
Innovation/ Related News:
August 2017- SIKA acquired ABC sealants, a
Turkish based manufacturer of adhesives and sealants. The acquired
manufacturing site enhance SIKA’s ability to serve customers in the Turkish
market but will also provide manufacturing and distribution hub for the Middle
East & Africa.
April 2017- SIKA Corporation introduced Structural Adhesive named as
SikaFast-3500 Structural methyl methacrylate (MMA) for application in
industrial and transportation. These product withstand their properties at
higher temperature. With this product launch the company strengthen its product
portfolio for structural adhesive
March 2017- LORD Corporation, one of the
leading developer and manufacturer of high performance adhesive products has
launched two component epoxy-modified acrylic adhesive named as LORD Versilok®
271/331. This product is capable of bonding a wide range of automotive sheet
metals including bare and oily aluminum and hot-dip galvanized and
electro-galvanized. With this product launch company has strengthen its
position in the global structural adhesive market.
October 2016- LORD Corporation launched two
in-mold bonding adhesive named as LORD IMB 3000 and IMB 3010. These product
does not require special surface preparation such as plasma or corona and can
offer rigid support to structural bond between various substrates. IMB
adhesives application include electronics, automotive components, and medical
devices. Company has expanded its product portfolio with this product launch.
October 2016- 3M launched new metal bonding
acrylic adhesive named as 3M Scotch Weld DP8407NS. This adhesive provide high
peel and durability and can withstand its strength at lowest temperature of
-40degF. The extreme temperature performance of this product makes it suitable
for usage in wide range of substrates. With this product launch the company has
expanded its product portfolio and strengthen its position in structural
adhesive market
Regional Analysis:
Asia Pacific emerged as the leading market for
structural adhesive followed by North America and Europe in 2016. Asia Pacific
exhibits the highest market share on account of speedy industrialization along
with high demand from end use industries such as building & construction,
furniture, and automobile. The market growth is predicted to surge in various
countries such as India, Thailand, China, Japan, South Korea, and Indonesia due
to tax benefits and ease in availability of raw material and labor. North American
market is predicted to witness moderate growth on account of improving
commercial construction sector.
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