Structural Adhesives Market to grow at 4.5% CAGR by 2024 from Single component
Date: 2018-09-11   Author: Rahul Varpe  Category: #market

Structural Adhesives Market to grow at 4.5% CAGR by 2024 from Single component

North America Structural Adhesives Market will generate significant revenue by the end of 2024, owing to the surging infrastructure development along with growing advancements in the aviation industry. U.S. and Canada will be the prominent revenue contributors toward North America market share.

Owing to numerous product properties that help enhance the performance and safety of vehicles, Structural Adhesives Market has been gaining renewed popularity of late. This product is used primarily to reduce the overall weight of automobiles. In addition, a perpetual change in the living standards coupled with a rise in the per capita income has led to an increase in the automobile production and sales, which will fuel structural adhesives market. The capability of the product to minimize the overall weight of the system leads to the increasing use of the such adhesives for aeronautical applications as wellAccording to Global Market Insights, Inc., “Worldwide structural adhesives market will surpass a revenue collection of USD 7 billion by 2024 with an annual growth rate of more than 4% over 2016-2024.”

Request for a sample copy of this report @
https://www.gminsights.com/request-sample/detail/315

Polyurethane is extensively used in the aviation and automotive sector, on account of its strong bonding strength. Polyurethane dominated the overall structural adhesives market by accounting for 50% of the share in 2015 and will collect considerable revenue by the end of 2024. This product exhibits a sizable demand pertaining to its cost effectiveness and flexibility. The growing polyurethanes (PU) market will also contribute toward the development of structural adhesives industry. Aviation and aerospace end user segment of structural adhesives market will register an annual growth rate of above 4% over the coming seven years. this product is prominently used due to its notable mechanical characteristics such as superior compressive strength, high glass transition temperature, excellent durability & toughness and cyclic fatigue resistance capability.

Structural adhesives are widely used as bonding agents to avoid the usage of rivets, welds, and screws in bonding plastic materials. In addition, this product is used to improve the mechanical and aesthetic properties of plastics as well. On these grounds, structural adhesives market from plastic applications collected a revenue of USD 1 billion in 2015 and will generate significant revenue by 2024 with a CAGR of 4.5% over the coming timeframe.

Pertaining to the widespread availability of vehicles along with the rising spending capability of consumers, the sale of automobiles across the globe will observe a massive incline. On these grounds, the automotive segment of structural adhesives industry, having had a revenue of USD 1 billion in 2015, will record a notable growth rate over the years ahead.

Make an inquiry for purchasing this report @
https://www.gminsights.com/inquiry-before-buying/315

Asia Pacific structural adhesives industry collected a revenue of USD 2 billion in 2015 and will register considerable annual growth rate over the period of 2016 to 2024. The regional governments have been investing heavily in construction activities across this geography. Moreover, many of the automotive industry giants are establishing their manufacturing plants in various developing countries of APAC. Japan, India, South Korea, and China will contribute substantially toward the regional growth.

Industry players are engaged in strategic alliances to strengthen their presence in the diversified business space. The noteworthy players in structural adhesives market are Illinois Tool Works, Arkema, 3M Company, Scott Bader Co., Lord Corporation, Dow Chemical Company, L&L Products, Henkel AG, SIKA AG, Master Bond, Parson Adhesives, Permabond, Ashland Inc., Hubei Huitian Adhesive Enterprise Co., Ltd., Elantas, and Panacol-Elosol GmbH.

 



About Author


Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

Read More

More from Rahul


Post Recommendents

Asphalt Mixing Plants Market Trend & Growth Forecast 2018-2024 By Application - Road Construction
Author: Rahul Varpe

Asia Pacific Asphalt Mixing Plants Market generated revenue over USD 2.5 billion and is foreseen to hold a major share of the market pie over the coming years. Owing to the robust growth in the countries of Asia Pacifi...


Painting Tools Market Trend & Growth Forecast 2018-2024 By Product - Brushes, Rollers, Scrapers, Knives, Trays, Spray Gun, Masking Tapes
Author: Rahul Varpe

Painting tools market share from construction applications is predicted to surpass a revenue collection of USD 10 billion by 2024, owing to the increasing industrialization and escalating housing need of the rapidly gr...


Building Thermal Insulation Market Trend & Growth Forecast 2018-2024 By Material - Wool Insulation, Plastic Foams
Author: Rahul Varpe

Building Thermal Insulation Market size from roof applications will grow at a rate of nearly 4% over the period of 2017-2024. The growth can be credited to the high demand for flat roofs in the commercial buildings. Fl...