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Demand from Automotive and Aerospace Industries to Structural Adhesives Sales at 6.7% CAGR
The latest study by Fact.MR on the structural adhesive market provides a forecast for the forthcoming decade. The report further elaborates on significant trends such as drivers, challenges, and competitive scenarios dominant in the market. It presents this information across several segments that are classified based on resin type, application and region.
NEW YORK , Sept. 7, 2022 /PRNewswire/ -- The global structural adhesives market is expected to reach a valuation of US$ 28.2 billion by the end of 2032. Analysts anticipate the market will grow at a CAGR of 6.7% during the forecast period from 2022 to 2032.
Soaring investments toward building new infrastructure across the globe is the key factor driving growth in the structural adhesives market. These requirements will continue to increase in developing countries such as India and China . In the construction process, these adhesives are used for multiple purposes such as lamination, flooring, roofing, and others.
Structural adhesives are also highly sought-after among end users in the automotive industry as they have high load-bearing capacity, strength, and faster curing time. They are effective in joining vehicle parts including glass attachments, interior parts, doors, body panels etc. Moreover, structural adhesives also aid in keeping the vehicle light and lightweight cars are the need of the hour.
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Additionally, rapid expansion of aerospace sector is also likely to boost demand for structural adhesives. Leading aircraft manufacturing companies are continuously churning out new planes to meet their delivery timelines.
Some are already lagging in delivery timelines, so the demand from this sector is anticipated to burgeon over the forecast period. Structural adhesives are used for bonding composite parts of an aircraft as they provide better structural integrity and stronger joints. Fresh investments in the aerospace sector will drive the growth of structural adhesives market.
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The dominant players in the structural adhesive market are investing heavily to reduce the presence of VOCs, in order to meet the required emission and environmental standards. Meanwhile, some of the other players are developing specialized structural adhesives to meet industry-specific requirements.
In the first half of 2022, Arkema's adhesive division, Bostik, introduced a new adhesive solution, which is part of its 'Responsibly for Hygiene' commitment. The new Nuplaviva i90 Hot-Melt Wetness Indicator is made with renewably-sourced content and is the third solution in the Nuplaviva series of adhesives.
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More Valuable Insights on Structural Adhesives Market
In the latest study, Fact.MR offers a detailed study on global structural adhesives market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of structural adhesives through detailed segmentation as follows:
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Key Questions Covered in the Structural Adhesives Market Report
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