Global Epoxy Adhesives Market Snapshot
“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.”
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.
Epoxy adhesives find extensive application across industries such as automotive, aerospace, construction, electronics, and consumer goods. The overall growth and demand from these sectors play a significant role in driving the epoxy adhesives market.
For example, the increasing production of lightweight vehicles and the need for strong, durable bonding solutions in the automotive industry fuel the demand for epoxy adhesives. The construction sector is a major driver of epoxy adhesives due to its wide-ranging applications, including bonding, sealing, and repairing of various materials.
The growth in residential, commercial, and infrastructure projects worldwide, particularly in emerging economies, contributes to the demand for epoxy adhesives. Many industries are increasingly adopting lightweight materials like composites and plastics to improve fuel efficiency, reduce emissions, and enhance overall performance.
Epoxy adhesives provide strong bonding solutions for these lightweight materials, driving their demand in industries such as aerospace, automotive, and wind energy. The electronics sector is witnessing significant growth, driven by advancements in technology, increasing adoption of smart devices, and the expansion of electric vehicles.
Epoxy adhesives are crucial for electronic component assembly, circuit board bonding, and encapsulation. The expanding electronics industry fuels the demand for epoxy adhesives.
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. While epoxy adhesives generally exhibit good temperature resistance, extreme temperature variations can sometimes affect their performance.
In very high-temperature environments, epoxy adhesives may soften or degrade, while in extremely low-temperature conditions, they can become more brittle. These limitations can restrict the use of epoxy adhesives in certain applications that require exceptional temperature resistance.
Technological advancements play a crucial role in driving the epoxy adhesives market. Research and development efforts focused on enhancing the performance, versatility, and ease of use of epoxy adhesives lead to new product formulations and innovative solutions.
Opportunities exist for developing epoxy adhesives with improved properties, such as faster curing times, increased temperature resistance, higher flexibility, and enhanced sustainability features. The growing emphasis on sustainability and environmental regulations presents opportunities for epoxy adhesives.
Manufacturers can develop epoxy adhesive formulations with reduced environmental impact, lower VOC emissions, and recyclability. Meeting the increasing demand for environmentally friendly adhesives can help capture market share and meet the needs of eco-conscious industries and consumers.
The pandemic led to a surge in demand for medical equipment, devices, and protective gear. Epoxy adhesives are widely used in medical applications, including bonding medical devices and equipment. The increased need for these products during the pandemic could have driven the demand for epoxy adhesives in the healthcare sector. The construction and automotive industries are major consumers of epoxy adhesives. During the pandemic, these sectors experienced a slowdown due to reduced construction activities, temporary closure of manufacturing plants, and decreased consumer spending. This slowdown could have negatively impacted the demand for epoxy adhesives in these industries. The economic uncertainties caused by the pandemic and subsequent lockdowns may have led to budget constraints for businesses and consumers.
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Growth Drivers
The automotive industry is increasingly requiring lightweight, low-emission vehicles, with epoxy adhesives playing a crucial role in improving appearance and performance. These adhesives also help reduce vehicle weight, improve fuel efficiency, and control pollution emissions.
Traditionally used for laminating, glueing, and assembling interior components, modern adhesives help manufacturers reduce weight and comply with environmental laws, creating a new opportunity for adhesives makers.
Restraints
North America and Europe have strict environmental legislation, governing the production of chemical and petroleum-based products. The Epoxy Resin Committee and the European Commission govern solvent-based goods, impacting manufacturing capacity. Environmental laws are driving manufacturers to focus on producing environmentally friendly adhesives, thereby reducing their environmental impact.
Market Trends
Epoxy resin-based adhesives are widely used in the construction industry, including flooring, roofing, and joinery. The global construction sector is expected to grow at a 3.5% annual rate until 2030, with China, India, the United States, and Indonesia contributing 58.3% of growth. Construction sealants account for 18% of the global epoxy adhesive market value.
Opportunity
The demand for eco-friendly, non-hazardous, and long-lasting adhesives is increasing due to the growing demand for eco-friendly materials in various applications. The USEPA, REACH, LEED, and other regulatory bodies have compelled manufacturers to create eco-friendly adhesives with low VOC levels, ensuring their sustainability and effectiveness.
Global Epoxy Adhesives Market Segment Analysis
Based on type market is segmented into one component, two components. During the projection period, the segment for single-component type is anticipated to experience the greatest CAGR. Owing to its outstanding characteristics, which include a quick cure time and a composition devoid of solvents.
Furthermore, unlike two-component adhesives, one-component adhesives do not require mixing, making them ideal for use in assembly lines. This simplifies and streamlines the manufacturing process. However, it is projected that demand for two-component-based epoxy adhesives in building and construction applications would rise significantly in the future years.
Based on end-user industry, market is segmented into building construction, transportation, automotive, aerospace, electrical & electronics. In 2022, the global epoxy adhesives market was led by the construction industry. Epoxy adhesives are used in a variety of construction-related applications, including laminated wood for decks, walls, and roofs, floor and tile restoration, and outdoor uses. Strong connections to concrete, wood, metal, glass, and stone are produced by epoxy adhesives, which also have a high heat and chemical resistance.
Epoxy adhesives' ability to conduct heat and electricity has also increased their use in electrical and electronic applications. In order to achieve durable and dependable performance from electronics, electrically conductive adhesives offer solid components and linkages. Over the course of the forecast year, it is predicted that this will increase product demand in the electrical and electronics sector.
Global Epoxy Adhesives Market Key Competitors
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.
2nd February 2022: H.B. Fuller Company announced it had acquired the Belgium-based company Fourny nv, a well-respected provider of construction adhesives with more than 70 years of experience in technologies focused on commercial roofing, construction, and other private label industrial specialties.
01/06/2022 Madison Heights, MI – Sika Corporation, the premier supplier of innovative sealing, bonding, reinforcement, and protection solutions is proud to announce its participation as an exhibitor at the 2022 Adhesives and Bonding Expo, North America’s largest exhibition for adhesive and bonding technologies. The event is held in conjunction with the Foam Expo, which will take place June 28-30 at the Suburban Collection Showplace in Novi, Michigan.
Global Epoxy Adhesives Market Regional Outlook
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.
The expansion of this region is fueled by the industrial growth of nations like China, India, and Japan, increased vehicle penetration, and rising building and development activities. The need for epoxy adhesives in the area has increased due to growing uses in electronics, aerospace, and marine applications.
The market's expansion is aided by rising knowledge about the usage of renewable energy sources and attempts to encourage the use of electric vehicles in this region's developing nations.
The Asia-Pacific region is the largest consumer of epoxy adhesives, accounting for 47% of total consumption. The rise in epoxy adhesives is driven by construction activities and increased motor vehicle production due to the COVID-19 pandemic.
Automotive is the main consumer, accounting for 30.7%, followed by building and construction, healthcare, aerospace, and woodworking industries. The rise in epoxy adhesives is attributed to factors such as rising construction activities and motor vehicle production.
Segments Covered in the Global Epoxy Adhesives Market
Global Epoxy Adhesives Market by Type
- One Component
- Two Component
Global Epoxy Adhesives Market by End-User Industry
- Building Construction
- Transportation
- Automotive
- Aerospace
- Electrical & Electronics
The above information has been provided for the following regions and countries
North America
Europe
- UK
- Germany
- France
- Italy
- Russia
Asia Pacific
- China
- India
- Japan
- South Korea
Latin America
MEA
- UAE
- Saudi Arabia
- South Africa
Frequently Asked Questions
Who are the key players in the global epoxy adhesives market?
Some key players operating in the global epoxy adhesives market include 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.
What are the factors driving the global epoxy adhesives market?
The construction sector is a major driver of epoxy adhesives due to its wide-ranging applications, including bonding, sealing, and repairing of various materials. The growth in residential, commercial, and infrastructure projects worldwide, particularly in emerging economies, contributes to the demand for epoxy adhesives.
How big is the global epoxy adhesives market?
The global epoxy adhesives market size was estimated at USD 10.23 billion in 2023 and is expected to reach USD 16.60 billion in 2030.
What is the global epoxy adhesives market growth?
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.
Which region accounted for the largest global epoxy adhesives market share?
The Asia Pacific dominated the global epoxy adhesives market with a share of 39% in 2022.
.Summary
1.1. Epoxy Adhesives Market Overview
1.2. Key Insights
1.3. Report Scope
1.4. Research Methodology
1.5. Frequently Asked Questions
1.6. Chapter Outlines
- Decision-Making Summary
- Introduction
3.1. Overview Of Epoxy Adhesives
3.2. Key Historical Events
3.3. Structure
3.4. Biochemical Interaction
3.5. Target Indications
3.6. Advantages Of Epoxy Adhesives
3.7 Challenges Associated With Epoxy Adhesives
3.8. Future Perspectives.
- Market Landscape
4.1. Methodology
4.2 Epoxy Adhesives: Developer Landscape
4.2.1. Analysis by Year Of Establishment
4.2.2. Analysis By Company Size
4.2.3. Analysis By Location Of Headquarters (Region-Wise)
4.2.4. Analysis By Location Of Headquarters (Country-Wise)
4.2.5. Analysis By Year Of Establishment, Company Size And Location Of Headquarters (Region-Wise)
4.2.6. Most Active Players
- Company
5.1. Company Overview
5.1.2 Management Team
5.1.3. Product Portfolio
5.1.4. Recent Developments And Future Outlook
- Partnerships And Collaborations
6.1. Partnership Models
6.2. Epoxy Adhesives: Partnerships And Collaborations
6.2.1. Analysis By Year Of Partnership
6.2.2. Analysis By Type Of Partnership
6.2.3. Analysis By Year And Type Of Partnership
6.2.4. Analysis By Type Of Partner
6.2.5. Analysis by Year Of Partnership And Type Of Partner
6.2.6. Analysis By Type Of Partnership And Type Of Partner
6.2.7. Analysis By Type Of Partner And Parent Company Size
- Academic Grants Analysis
7.1. Methodology And Key Parameters
7.2. Epoxy Adhesives: Academic Grants Analysis
7.2.1. Analysis By Year Of Grant Award
7.2.2. Analysis By Amount Awarded
7.2.3. Analysis By Funding Institute Center
7.2.4. Analysis By Support Period
7.2.5. Analysis By Funding Institute Center And Support Period
7.2.6. Analysis by Type Of Grant Application
7.2.7. Analysis By Purpose Of Grant
- Publication Analysis
8.1. Analysis Methodology And Key Parameters
8.2. Epoxy Adhesives: Publication Analysis
8.2.1. Analysis by Year Of Publication
8.2.2. Analysis By Type Of Publication
8.2.3. Analysis by Type Of Conjugate
8.2.4. Analysis by Target Indication
8.2.5. Analysis by Copyright Holder
8.2.6. Word Cloud: Emerging Focus Area
8.2.7. Most Active Publishers: Analysis By Number Of Publications
- Success Protocol Analysis
9.1. Methodology and Key Parameters
9.2. Key Assumptions and Scoring Criteria
9.3. Success Protocol Analysis
9.4. Assessment of Approved Epoxy Adhesives
- Appendix 1: Tabulated Data
- Appendix 2: List Of Companies
- Henkel AG & Co. KGaA
- 3M Company
- Sika A.G.
- Ashland Global Holdings Inc.
- The DOW Chemical Company
- B. Fuller Co.
- Huntsman International LLC
- Pidilite Industries Ltd.
- LORD Corporation
- Permabond LLC.
