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Thermoset Adhesives Market: Adhesive for Structural and Load Bearing Applications

  • Thermoset adhesives are essentially insoluble and infusible, and exhibit good creep resistance. They are used for high load assemblies and controlling severe service conditions such as heat, cold, and radiation.
  • Thermoset adhesives is a result of the buildup of molecular chains to produce a rigid cross-linked structure. They include epoxy resins, which are some of the most widely used adhesives.
  • Thermosetting adhesives are manufactured using a combination of monomers that react to form a large macromolecular network. Thermoset adhesives are generally more expensive than the other types of adhesives. They are widely used in structural and load bearing applications. Some toughened variants provide exceptional properties that are directly comparable with welded and riveted alternatives. 

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Key Drivers of Thermoset Adhesives Market

  • Replacement of traditional fasteners with adhesives and growth in key end-use applications are major factors driving the thermoset adhesives market. Emerging trends, which have a direct impact on the dynamics of the thermoset adhesives market, include emergence of adhesives with bio-based thermoset resins and increase in application of two-part polyurethane adhesives.
  • Thermoset adhesives are preferred over other materials in construction and automotive sectors due to their durability. The thermoset adhesives market is expected to continue to expand over the next few years owing to the increase in demand for these adhesives in various end-use industries such as automotive, aerospace, and packaging.
  • Demand for thermoset adhesives is majorly driven by technological advancements and infrastructure growth in Asia Pacific
  • Crosslinking occurs in thermoset adhesives through the influence of heat. Among the thermosetting resin types, epoxy adhesives are increasingly being used in aircraft, automobiles, and other high strength applications.
  • Environmental concerns pose major challenges to the thermoset adhesives market, as these adhesives cannot be re-processed and recycled. These adhesives also do not decompose naturally.

Automotive & Transportation Segment to Offer Attractive Opportunities:

  • Automotive & transportation is anticipated to be the dominant segment of the market during the forecast period. Growth in lightweight and commercial vehicle production and replacement of fasteners with adhesives are estimated to boost the segment during the forecast period.
  • Demand for thermoset adhesives in the electronics industry is increasing owing to their varied properties such as lightness of weight, high-temperature resistance, and high-impact properties. Rapid urbanization and economic growth in emerging countries of Asia Pacific are likely to boost the demand for thermoset adhesives in construction composites.

Stringent Environmental Regulations in North America and Europe Regarding VOC Content Likely to Hamper Market:

  • Environmental concerns pose major challenges for the thermoset adhesives market, as thermoset adhesives cannot be re-processed and recycled, and can neither be decomposed naturally
  • Volatile organic compounds (VOCs) emitted during the use of thermoset adhesives pose a threat to the environment. Several countries have enacted guidelines restricting the emission of VOCs during the usage of thermoset adhesives in industries.
  • Manufacturing operations are bound by regulations and rules with respect to evaluation, registration, storage, usage, handling, and transportation of certain substances and their emissions, effluents, and other wastes. Violation of these regulations is expected to lead to legal obligation in future business activities. These environment-related regulations restrain the demand for thermoset adhesives in residential and non-residential construction sector, as violation of these government regulations is projected to attract heavy penalties.
  • Emission standards have been fixed to facilitate the effective control of air pollution. These standards have set permissible limits that are formulated by organizations such as the Central Pollution Control Board, Ministry of Environment & Forests, Bureau of Indian Standards (BIS), World Health Organization (WHO), and National Emissions Inventory (NEI). 

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Asia Pacific Expected to Hold Major Share of Global Thermoset Adhesives Market:

  • The thermoset adhesives market in Asia Pacific is expected to expand significantly during the forecast period, owing to the growth in end-use applications and increase in usage of these adhesives in place of traditional fasteners
  • Increase in construction activities in countries such as the U.S. and expansion in the aviation industry are estimated to boost the thermoset adhesives market in North America. Presence of several automotive giants such as Ford, Bombardier, and General Motors in the U.S. and Canada is also projected to propel the demand for thermoset adhesives in the region.
  • The market in Europe and Middle East & Africa is expected to expand at a significant pace during the forecast period owing to the growth in automotive and construction industries in these regions
  • Rise in FDI investment in automotive and construction industries in developing economies of Asia Pacific is a key factor likely to fuel the market in the region during the forecast period 

Key Players in Thermoset Adhesives Market:

The global thermoset adhesives market is highly concentrated, with the top manufacturers accounting for approximately 45% to 50% share. Key players operating in the global thermoset adhesives market include:

  • Dow Chemicals
  • Huntsman
  • Bayer AG
  • B. Fuller
  • Henkel Adhesives
  • LORD Corporation
  • Ellsworth Adhesives
  • Master Bond Inc. 

Global Thermoset Adhesives Market: Research Scope 

Global Thermoset Adhesives Market, by Resin

  • Phenolic Formaldehyde
  • Phenolic Neoprene
  • Resorcinol Formaldehydes
  • Polyester
  • Polyimides
  • Epoxy

Global Thermoset Adhesives Market, by End-use Industry

  • Automotive & Transportation
  • Construction
  • Packaging
  • Electronics
  • Metal-Working
  • Others 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Thermoset Adhesives Market

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