LOS ANGELES, April 24, 2019 (GLOBE NEWSWIRE) -- The global Structural Adhesives Market size is estimated to grow at CAGR above 6.5 % over the forecast time frame 2019-2026 and reach the market value around USD 16.4 billion by 2026.

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A structural adhesive is a type of adhesive used to make a carrying joint. It can hold two or more substrates together throughout a product's lifespan. Also known as load-bearing adhesives are structural adhesives. These types of adhesives are used mainly when joints are generally more than 1 mega pascal 1Mpa and more normally 10 mega pascal shear strengths. Structural sticks are widely used for continuous bonding and for high resistance applications like buses and lorries, ambulances and leisure vehicles. A growing need of structural adherents from the building & construction sector and wind energy sectors worldwide drives the global structural adhesives market. As far as demand is concerned, Asia Pacific represents a dominant portion of the global market for structural adhesives.

Type Insights

Type is divided in epoxy, acrylic, cyanoacrylate, urethane and other parts of the world structural adhesive market. The other segment includes silicone, vinyl acetates, and anaerobic adhesives. Due to the intrinsic characteristics of epoxy adhesives, such as chemical resistance, a low shrinkage rate and low VOC emissions, epoxy was a rapid growth segment of the structural adhesives market in 2017. In various niche applications worldwide, the use of epoxy adhesives has increased, requiring excellent bond strength.

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End-Use Stance

The global market for structural adhesives is classified as an auto, building & building, sea, aerospace, wind and other industries based on end-use products. Sports goods, equipment and furniture are included among other segments. The wind energy market is expected to expand rapidly in the forecast period as the consumption of wind energy across the globe has grown sharply in recent years. Wind energy is an energy source that is clean, non-polluting. For joining blades structural adhesives offer reduced weight, reduced mounting time and protection against corrosion.

Regional Outlook

On the basis of the region, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America have divided the global structural stickers market. Asia-Pacific dominated the global market for structural adhesives in 2017 in terms of volume and value. Due to rapid industrialization and increasing demand for structural adhesives from the building and automotive industries in the region, the region will likely remain highly lucrative during the forecast period. With the expansion of industries like construction, automotive and electronics, China is rapidly expanding on the Asia-Pacific markets.

Also in 2017, Europe was a significant part of the global market for structural adhesives. Due to the presence of numerous automotive and aerospace companies in the region, Europe contributes significantly to the structural adhesive market. Due to sluggish growth in industries such as car manufacturing and construction in the area, the structural adhesive market in North America is expected to grow at a minimum during the projected period. In North America, the drivers of the structural adhesive market include high wind, transport and maritime demand.

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Increasing demand for weight reduction in the use of components in industries such as energy, cars and the marine industry means that plastics and composites are being substituted for traditional materials such as metals. This leads to demand for North American structural adhesives. The Middle-East and Africa market share is expected, as the growth rate of building industry in this region is small, to remain consistent by the end of the projected period. However, in the near future the rate is expected to rise.

Key Players

The Structural Adhesives market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Mitsubishi Electric Corporation, Midea Group Co., Ltd., Samsung Electronics Co., Lennox International Inc., Hitachi, Ltd., Sharp Company, United Technologies Corp., Panasonic Corporation, Electrolux AB. Ltd. among others.

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