CHICAGO, May 22, 2024 /PRNewswire/ -- The report "Structural Adhesives Market by Technology (Solvent-based, Water-based), Resin (Epoxy, Polyurethane, Acrylic, MMA, Cyanoacrylate), Application (Building & Construction, Automotive, Wind Energy, Aerospace), & Region - Global Forecast to 2029", Structural Adhesives Market size was USD 13.5 billion in 2024 and is projected to reach USD 17.7 billion by 2029, at a CAGR of 5.5% between 2024 and 2029.

The growth in the automotive industry for the structural adhesives market is driven by the increasing emphasis on lightweight vehicle design to improve fuel efficiency and reduce emissions, which requires advanced adhesives for bonding modern materials like composites and aluminum. Additionally, structural adhesives enhance crashworthiness and structural integrity, meeting stringent safety standards while allowing for greater design flexibility and manufacturing efficiency.

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"The major driver for the structural adhesives market is growth of automotive industry."

The growth in the automotive industry for the structural adhesives market is driven by the increasing emphasis on lightweight vehicle design to improve fuel efficiency and reduce emissions, which requires advanced adhesives for bonding modern materials like composites and aluminum. Additionally, structural adhesives enhance crashworthiness and structural integrity, meeting stringent safety standards while allowing for greater design flexibility and manufacturing efficiency.

"Water-based is expected to hold largest share of the technology segment in the market during the forecasted period."

Water-based technology holds the largest share of the technology segment in the structural adhesives market due to its environmentally friendly profile and compliance with stringent regulatory standards aimed at reducing volatile organic compounds (VOCs). These adhesives offer safety and health benefits, including low odor and reduced toxicity, making them preferable in indoor and consumer applications. Additionally, advancements in water-based formulations have significantly improved their performance, bringing them closer to the strength and durability of solvent-based alternatives. The growing emphasis on sustainable and green manufacturing processes further drives the adoption of water-based structural adhesives across various industries.

"Epoxy holds the largest resin segment in overall structural adhesives market during forecast period."

Epoxy holds the largest market share in the structural adhesives market due to its exceptional bonding strength and durability, making it suitable for high-stress applications across various industries, including aerospace, automotive, and construction. Its excellent resistance to environmental factors such as heat, chemicals, and moisture ensures long-lasting performance in demanding conditions. Additionally, epoxy adhesives can bond a wide range of substrates, including metals, composites, and plastics, enhancing their versatility. The ability to customize epoxy formulations for specific applications further boosts their popularity and widespread use.

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"Asia Pacific region likely to account the largest share of the global structural adhesives market during forecasted period."

Asia Pacific is likely to account for the largest share of the structural adhesives market due to its rapid industrialization and urbanization, which drive significant demand in key sectors such as construction, automotive, and electronics. The region's booming automotive industry, particularly in countries like China, India, and Japan, requires advanced adhesive solutions for lightweight vehicle design and manufacturing efficiency. Major investments in infrastructure projects across the region further contribute to the high demand for structural adhesives in construction applications. Additionally, the presence of large manufacturing hubs and a robust supply chain network in Asia Pacific facilitates the production and distribution of adhesives. The region's growing emphasis on renewable energy projects, such as wind and solar power, also boosts the demand for structural adhesives in the energy sector. Combined with supportive government policies and a strong focus on technological advancements, these factors position Asia Pacific as the leading market for structural adhesives.

The key players profiled in the report include Henkel AG & Co. KGaA (Germany), Sika AG (Switzerland), 3M (US), DuPont (US), and Huntsman Corporation (US). The companies are majorly following product developments, acquisitions, investments, expansions, and agreements as the strategy to grow and expand the market.

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