Polyurethanes Dominate Global Structural Adhesives Market
The global structural adhesives market was valued at $9.419 billion in 2017.
The global structural adhesives market was valued at $9.419 billion in 2017, and is projected to achieve $16.962 billion by 2026, with a compound annual growth rate (CAGR) of 6.98% from 2018 to 2026, according to a report from Transparency Market Research. Based on type, polyurethane dominated the global structural adhesives market in the past few years, due to a flexible nature of polyurethane-based adhesives and their extensive application in panel bonding.
Geographically, Asia Pacific accounts for the largest market share, due to rapid industrialization and growing demand from construction and furniture industries. China, India, Thailand and Indonesia are reportedly the fastest growing regions of global structural adhesives market. This is mainly due to government tax incentives, subsidies provided, and easy availability of raw material and labor. North America is expected to witness a steady growth due to slow growth of industries post-recession, according to the report. Moreover, an increase in consumer spending, particularly in U.S., will drive the demand for structural adhesives.
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