Epoxy adhesives are witnessing a surge in demand and finding diverse applications across various industries. These versatile adhesives offer excellent bonding properties, durability, and resistance to harsh environments, making them ideal for construction, automotive, aerospace, electronics, and more sectors. They are used for bonding various substrates, including metals, plastics, composites, and ceramics. The growing need for strong and reliable adhesive solutions, coupled with the benefits offered by epoxy adhesives, is driving their increasing adoption in multiple industries, leading to the sustained growth and expanding market presence of epoxy adhesives.
According to Data Bridge Market Research, the Global Epoxy Adhesive Market is USD 7.61 billion in 2022 and is expected to reach USD 11.93 billion by 2030. The market is expected to grow with a CAGR of 5.79% in the forecast period of 2023 to 2030.
“Increased construction industry applications boost the market’s growth”
The epoxy adhesives market is witnessing growth driven by its expanding applications in the construction industry. Epoxy adhesives offer excellent bonding properties, durability, and resistance to harsh environmental conditions, making them suitable for various construction applications. They are extensively used for bonding structural elements, including concrete, metals, wood, and composites, in construction projects such as infrastructure development, building construction, and repair. The increasing demand for strong and reliable bonding solutions in the construction industry is fuelling the growth of the epoxy adhesives market as construction companies embrace these adhesives for their structural and performance benefits.
What restraints the growth of global epoxy adhesive market?
“Hazardous effects associated with certain chemicals restraints the market’s growth”
The growth of the epoxy adhesives market is constrained by the hazardous effects associated with certain chemicals used in their manufacturing. Some chemicals involved in epoxy adhesive production, such as formaldehyde and volatile organic compounds (VOCs), can pose health and environmental risks. Regulatory measures, safety concerns, and increasing emphasis on eco-friendly alternatives are impacting the market. As a result, there is a growing demand for safer and more sustainable adhesive solutions, which may hinder the overall growth of the epoxy adhesives market.
Segmentation: Global Epoxy Adhesive Market
The global epoxy adhesive market is segmented on the basis of type, technology, distribution channel and end user industry.
- On the basis of type, the epoxy adhesive market has been segmented into one-component, two-component, others.
- On the basis of technology, the epoxy adhesive market has been segmented into reactive, solvent-borne, uv cured adhesives, water-borne.
- On the basis of distribution channel, the epoxy adhesive market has been segmented into online, offline.
- On the basis of end user industry, the Epoxy adhesive market has been segmented into defense and aerospace, semiconductor, automotive, marine, electrical and electronics, building and construction, footwear and leather, healthcare, energy and power, packaging, woodworking, joinery, transportation, others.
Regional Insights: Asia-Pacific dominates the Global Epoxy Adhesive Market
Asia Pacific region dominates the market with a revenue share of 41.2% in 2022 owing to driven by the expansion of end-use industries in the region. The COVID-19 pandemic significantly impacted various sectors, including textile and garments, construction, and automotive, in 2020. The export trade was also heavily affected. However, since the third quarter of 2020, the market has displayed a positive and consistent recovery. Throughout 2021, there has been a steady upward momentum, indicating a resilient and strengthening market performance after the pandemic.
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Recent Developments
- In July 2022, Mapei has commenced the construction of its third manufacturing facility in Kosi, Mathura, with the aim of meeting the increasing demand in Northern India. The new facility will enable Mapei India to effectively cater to the growing demand for its products and services in the region and enhance the market availability of its offerings.
- In August 2020, Henkel, a leading market player in adhesives, initiated the construction of a cutting-edge production area dedicated to UV-curable acrylic pressure-sensitive adhesives (PSA) at its Salisbury site in North Carolina. This expansion represents a significant step in broadening Henkel's capabilities and reinforces its commitment to delivering sustainable and innovative solutions in the field of pressure-sensitive adhesives.
The Prominent Key Players Operating in the Global Epoxy Adhesive Market Include:
- 3M (U.S.)
- Arkema (France)
- Bostik (France)
- Dow (U.S.)
- H.B. Fuller Company (U.S.)
- Henkel AG & Co. KGaA (Germany)
- Mapei S.p.A (Italy)
- PARKER HANNIFIN CORP U.S.)
- Permabond (U.S.)
- Sika AG (Switzerland)
- Ashland (U.S.)
- Avery Denison Corporation (U.S.)
- Pidilite Industries Ltd. (India)
- Huntsman International LLC (U.S.)
- Wacker Chemie AG (Germany)
- RPM International Inc. (U.S.)
- Hernon Manufacturing (U.S.)
- AdCo (UK) Ltd. (U.K.)
- Panacol-Elosol GmbH (Germany)
- Weicon Gmbh & Co. KG (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of global epoxy adhesive market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Epoxy Adhesive Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
