Attractive Opportunities In Structural Adhesives Market

Structural adhesives are those adhesives whose strength is important to the success of the assembly. Increasing demand for reducing weight, reduce emissions, and increasing efficiency has led to the incorporation of lightweight materials such as aluminium and composites for fabricating components, has led to the increased usage of structural adhesives. Structural adhesives offer several benefit to fabricators and builders which includes improved product quality, improved production speed, and reduce costs. 

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The global structural adhesives market is witnessing excellent growth with rising demand from the Asia-Pacific region, especially from China and India. The major demand for structural adhesives is expected to come from transportation industry especially from automotive, marine, aerospace, and bus & truck applications. Penetration of composites for fabrication of wind blades of longer blade length, wind towers and cover of gear boxes will increase the demand of structural adhesives in wind industry. The demand for structural adhesives is increasing due to rising demand for weight reduction, excellent mechanical performance, reducing manufacturing time and costs, and increasing penetration of composites.

Epoxy, polyurethane and methacrylate adhesives to register excellent growth 

Epoxy adhesives are widely used for bonding components, such as rotor blades of wind, car hoods and doors, cockpits in aircrafts, engines, radomes, floorings, and fairings of aircrafts. Polyurethane structural adhesives are extremely versatile and can form tougher bonds with excellent peel strength. The demand for polyurethane adhesives is increasing due to the rising demand from structural bonding for bonding of plastics, sheet molding compounds, and for cryogenic applications. Methacrylate adhesives demand is driven by marine and transportation industry.

                          DRIVERS FOR THE END-USER INDUSTRY

Sources: Press Releases, Expert Interviews, and MarketsandMarkets Analysis

The demand for structural adhesives is majorly from Asia-Pacific

Asia-Pacific accounts for the largest share of the total structural adhesive market, while European market is well established and in the maturity phase. The European structural adhesives market is estimated to witness a slower growth rate as compared to North America. The Asia-Pacific structural adhesives market is in a growth phase attributed to the booming aerospace, wind, automotive, and construction industries in China and India. The RoW structural adhesive market is also estimated to enter into the growth phase as construction activities are increasing at a high rate due to global events, driving the structural adhesives market.

Construction Adhesive: 2015 World Market Outlook and Forecast up to 2020

The construction adhesive market is dominated by respective global players along with the presence of few regional players in the key growth markets. The Asia-Pacific region is the largest market, followed by europe in the global construction adhesive industry.

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Construction Adhesive Market Size, by Region, 2015 (Thousand Tons)

The key companies in this market are 3M (U.S.), Henkel A&G (Germany), Sika (Switzerland), Bostik (France), H.B. Fuller (U.S.), Franklin International (U.S.), DAP Products (U.S.), ITW (U.S.), Avery Dennision Corporation (U.S.), and The Dow Chemical Company (U.S.) they are the most active and major players in the construction adhesive market.

New product development were the key strategy adopted by industry players in order to achieve growth in the construction adhesive market. This strategy accounted for a share of about 64% of all growth strategies adopted by market players. The moderate demand for construction adhesive as well as the growing demand for the private housing, commercial and infrastructural developmenent has encouraged companies to adopt this strategy. Market players are focusing on entering new markets by acquiring companies thus, enhancing their construction adhesive product portfolio for different applications. 3M (U.S.), Sika (Switzerland), and H.B. Fuller(U.S.) are some of the leading market players that adopted this strategy in order to develop their business.

Besides new product development, companies adopted the strategy of acquisition, and expansion in order to expand their market share and distribution network. This strategy also accounted for a share of 20% of the total number of growth strategies adopted by players in the construction adhesive market between 2010 and 2014.

3M has acquired professional business of GPI Group (U.S.). GPI’s professional business includes manufacturer of home improvement products like tapes, hooks, insulation and floor protection products and accessories. The acquisition provides platforms to 3M’s products and accelerates its expansion and participation in construction and home improvement channels globally.

Bostik acquired Usina Fortaleza (Brazil), a leading manufacturer of tiling adhesive for the construction industry. This will help to expand the geographical footprint in fast growing regions of RoW.

H.B. Fuller has recently opened new R&D in Aurora, Ill. for construction products to enhance its research and development capability. This facility works closely with ales, marketing, operations and other departments to allowing to understand the customers need.

H.B. Fuller plans for expansion by adding a new line of equipment to its 280,000 square-foot specialty adhesive producing facility at Paducah, Kentucky. This capacity expansion allowed the company to meet growing needs of their customers.

These market strategies by the leading players will increase their market share, thereby enhancing their global presence in the construction adhesive industry.