The key driving factors for the structural adhesives market are the increasing demand for such materials in the footwear industry and their rising consumption in infrastructure projects. As a result, the value of the industry will display a 5.2% CAGR during 2019–2024 (forecast period), to advance from $11,677.9 million in 2018 to $15,683.0 million by 2024. Such materials are used to join substrates or components of structures that are under high physical stress for long periods.

Epoxy, acrylic, polyurethane, cyanoacrylate, and others are the categories of the market, based on type. Among these, during the historical period (2014–2018), the market was led by the acrylic category, due to the high peel strength and sheer of acrylic structural adhesives. This is why such adhesives can join plastic and metallic surfaces in footwear, woodwork, building & construction, and do-it-yourself (DIY) applications. The epoxy category is expected to witness the fastest growth during the forecast period, owing to their rising usage in end-use industries, especially for riveting and welding.

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The growing infrastructure industry is the biggest driving factor for the structural adhesives market advance. Due to the population boom, the demand for houses, civic infrastructure, commercial spaces, and industrial settings is rising. This is driving construction activities around the globe, especially in China, the U.S., and India. Structural adhesives make the structures they are used on resistant to chemicals, heat, and humidity, which is why these materials are being widely used on bridges, buildings, railway infrastructure, and roads.

During the historical period, Asia-Pacific (APA) was the largest structural adhesives market, and the situation is set to remain unchanged till 2024. The construction industry in regional countries, especially India and China, is growing on a massive scale, as a result of the burgeoning population, a lot of which is now moving to cities. Additionally, structural adhesives are being widely consumed in the packaging, automotive, and manufacturing industries for joining plastic and metallic substrates.

Hence, as the focus shifts away from weaker adhesives and nuts and bolts, the demand for structural adhesives will rise further.

The population across the globe has been rising at a rapid pace since the past few years. This growing population is creating the need for building infrastructure. Moreover, the migration rate from rural to urban areas is growing as well, as more and more people are coming to cities in search of jobs and for having a better standard of living. Therefore, in order to accommodate this growing population, the need for improving existing infrastructure and building new facilities is growing.

As structural adhesives are used widely in the infrastructure, their demand is growing as well. In fact, these adhesives are among one of the major composite materials that are utilized for bonding several surfaces and for repairing a number of infrastructural applications such as roads, railways, bridges. This is can be ascribed to the fact that structural adhesives have high strength and are resistive to chemicals, temperature, and weather.

Owing to such factors, the global structural adhesives market is projected to grow at a significant pace in the years to come. The demand for these products is also growing due to the shift from conventional fasteners. The demand for high structural integrity when it comes to vehicles, airplanes, ships, and automobiles is rising, along with the need to make them light in weight. Since structural adhesives provide the needed strength while also decreasing the weight of the vehicles, they are widely being used in the automotive and aerospace industries.

According to a research by P&S Intelligence, the structural adhesives market is expected to attain a value of $15,683.0 million by 2024, increasing from $11,677.9 million in 2018, and is predicted to witness a 5.2% CAGR during the forecast period (2019–2024). In terms of type, the market is categorized into cyanoacrylate, acrylic, epoxy, and polyurethane, out of which, the acrylic division accounted for the largest share of the market in the past. These adhesives have high peel and shear strength, allowing them to form bonds with plastics and metals.

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