Epoxy Adhesives Market worth $ 16.60 billion by 2030, growing at a CAGR of 5.73 % - Exclusive Report by Market Report Service
Epoxy adhesives provide strong bond strength, high compressive strength, resistance to cyclic fatigue, enhanced durability, and better toughness to meet the demanding requirements of the aerospace sector. Epoxy adhesives can be used to increase the performance, reduce weight, and improve the fuel efficiency of UAVs, satellites, and aircraft.
For uses like landing gear doors, floor and ceiling panels, overhead storage bins, galleys, and restrooms among others, there has been a noticeable growth in utilization in aeroplanes. In the upcoming years, the worldwide epoxy adhesives industry is anticipated to have a wide range of growth prospects due to factors like rising demand from emerging nations and technological improvements.
From 2023 to 2030, the global epoxy adhesives market is estimated to develop at a CAGR of more than 5.73%. It is predicted to exceed USD 16.60 billion by 2030, up from a little more than USD 10.23 billion in 2023.
Download Sample Report Now: https://marketreportservice.com/request-sample/epoxy-adhesives-market-54617
As the need for non-hazardous, environmentally friendly, and sustainable adhesives rises, profitable market possibilities are predicted.
Key competitors from both domestic and international markets compete fiercely in the worldwide global epoxy adhesives industry are Henkel AG & Co. KGaA, 3M Company, Sika A.G, Ashland Global Holdings Inc, The DOW Chemical Company, H.B. Fuller Co., Huntsman International LLC, Pidilite Industries Ltd, LORD Corporation, Permabond LLC.
Recent News
9th January 2023: With the launch of Loctite 3296- a new dual cure adhesive- Henkel expanded its range of dedicated active alignment adhesives for ADAS sensors, which are essential for precision and high sensor reliability.
Due to the growing demand for eco-friendly or green products across a range of applications, green adhesives or those with low VOC levels are becoming increasingly necessary. Due to stringent regulations from the USEPA (United States Environmental Protection Association), REACH (Registration, Evaluation, Authorization, and Restrictions of Chemicals) in Europe, Leadership in Energy and Environmental Design (LEED), and other regional regulatory bodies, manufacturers are now required to create eco-friendly adhesives with low VOC levels.
Due to these regulatory requirements, there is a growing trend towards environmentally friendly or "green" buildings in the global epoxy adhesives market, which offers the opportunity to develop durable and ecologically friendly adhesive solutions. These green adhesive solutions are made from renewable, recycled, remanufactured, or biodegradable materials, making them safe for use in hygienic settings and the environment.
A high cost of materials and limited temperature resistance may hinder the epoxy adhesives market expansion in forecasted period.
Epoxy adhesives, especially high-performance formulations, can be relatively more expensive compared to other adhesive options. The higher initial cost can sometimes be a deterrent for end-users, particularly those operating on tight budgets or in price-sensitive industries. This cost factor can limit the widespread adoption of epoxy adhesives, especially in certain applications or industries.
The adhesive market offers a wide range of options, including various types of adhesives with different properties and characteristics. Depending on the specific requirements of an application, alternative adhesive options, such as cyanoacrylate, polyurethane, or acrylic adhesives, may be more suitable or cost-effective. The availability and competitiveness of these alternatives can pose a restraint on the epoxy adhesives market.
The epoxy adhesives industry has been greatly impacted by the COVID-19 pandemic's repercussions on the global economy.
The pandemic caused a spike in demand for protective gear, medical gadgets, and equipment. Epoxy adhesives are frequently employed in medical settings, such as for joining medical tools and equipment. The demand for epoxy adhesives in the healthcare industry may have been influenced by the increasing need for these items during the epidemic. Epoxy adhesives are widely used in the automotive and construction industries.
These industries saw a slowdown during the pandemic as a result of fewer construction projects, temporary manufacturing facility closures, and lower consumer spending. The demand for epoxy adhesives in these industries may have been adversely affected by this slowdown. Budget restrictions for both firms and consumers may have resulted from the economic uncertainty brought on by the outbreak and the ensuing lockdowns.
In 2022, Asia-Pacific controlled the world market. Additional factors contributing to the expansion of this geographical segment include rising urbanisation, expanding R&D activities, the expansion of foreign players in this region, and technical improvements.
Buy Complete Report- https://marketreportservice.com/buy-now/54617
For More Related Reports Click Here