In 2018, the global structural adhesives market generated a revenue of $11,677.9 million. According to the forecast of P&S Intelligence, a market research company based in India, the market would advance at a CAGR of 5.2% between 2019 and 2024 and reach a value of $15,683.0 million by 2024. The burgeoning requirement for structural adhesives in infrastructural development and the ballooning usage of structural adhesives in the footwear industry are the main factors driving the growth of the market.

Owing to their high resistance to chemicals and weather and high strength, structural adhesives are extensively used in infrastructural development activities. These adhesives are used for constructing and repairing in a plethora of infrastructural development applications such as those pertaining to bridges, roads, buildings, and railways. Moreover, the increasing population levels and urbanization is fueling the development of large-scale commercial and residential construction projects, which is, in turn, pushing up the demand for structural adhesives across the world.

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Besides the aforementioned factors, the growing utilization of structural adhesives in industries such as electronic, electrical, and automotive is predicted to create lucrative growth opportunities for the players operating in the structural adhesives market in the future years. Additionally, the mushrooming deployment of electric vehicles (EVs) is boosting the demand for EV battery assembly and various other operations, in which, structural adhesives are heavily used, because of their high bonding strength.

Geographically, the structural adhesives market is predicted to demonstrate the fastest and the highest growth in the Asia-Pacific (APAC) region in the coming years. This would be a result of the rapid advancement of the construction industry, on account of the surging investments being made in infrastructural development in the regional countries. These adhesives are used for bonding metals, ceramics, and plastics together in various automotive, packaging, and manufacturing applications.