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Structural Adhesives Market to Top US$ 16.1 Bn as Adoption of Lightweight Composites Burgeons within Automotive Sector: Future Market Insights
Demand for fuel-efficient and electric vehicles is rapidly increasing across the world with increasing fuel costs. Hence, automotive manufacturers are emphasizing on using lightweight materials such as composites, plastic, and others to enhance the fuel efficiency of vehicles. As per FMI, the market is anticipated .
As structural adhesives play a crucial role in bonding substrate materials such as plastic and composites, increasing demand for lightweight materials within the automotive sector is projected to bolster the growth in the market. Driven by this, sales of structural adhesives are anticipated to rise at 5.6% CAGR between 2022 and 2028.
Further, growing usage of adhesives for structural bonding applications across the aerospace industry, owing to their outstanding performance qualities such as high heat resistance, impact-absorbing capacity, load-bearing capacity, and others is propelling the demand in the market.
This has assisted the market to account for around 18% of the total adhesives and sealants sales in 2021.
Based on product type, the epoxy-based structural adhesives segment is projected to account for a significant share in the market through 2028. High flexibility, resistance to water, oil, and chemicals, and inertness compared to others adhesives are primary factors driving the growth in the segment.
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Key manufacturers in the global structural adhesives market are investing in research and development (R&D) activities for novel adhesives with better curing properties as per changing industry standards for diverse industry verticals.
For instance,
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The latest report by FMI provides a detailed analysis of the global structural adhesives market, providing credible insights into key factor driving the market through 2022 and beyond. The study also disclosed growth projections on in structural adhesives market with detailed segmentation:
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