The structural adhesives market is forecast to reach $15.72 billion by 2022 growing from $11.17 billion in 2017 at a compound annual growth rate (CAGR) of 7.1%. The growth is reportedly driven by the growing trend and demand for lightweight and low carbon emitting vehicles, the growing demand from applications like building and construction, bus and truck, automotive, wind energy, marine, aerospace, rail, and others, according to a new research report from ReportsnReports.com.
The Asia Pacific structural adhesives market is projected to grow at the highest CAGR during the forecasted period. Among regions, the Asia Pacific is expected to be the fastest-growing structural adhesives market. Growth is mainly attributed to booming economies such as China, India, and Taiwan, among other few smaller countries, such as Indonesia, and Vietnam. China is the leader in the market for structural adhesives in terms of demand in the Asia Pacific. India is a rapidly emerging nation in the market due to the growth in various applications in the use of structural adhesives.
Among resins, the cyanoacrylate segment in the structural adhesives market is projected to grow at the highest CAGR during the forecast period, and the composites substrate segment of the structural adhesives market is projected to grow at the highest CAGR..
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