Epoxy Adhesives Market - Global Outlook & Forecast 2022-2027

Epoxy Adhesives Market - Global Outlook & Forecast 2022-2027

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Epoxy Adhesives Market Report

The epoxy adhesive market size was valued at USD 8,472.08 million in 2021 and is expected to reach USD 11,565.32 million by 2027, growing at a CAGR of 5.32 % during the forecast period.

The demand for epoxy adhesives is increasing at a fast pace across all sectors. Construction and automotive are the two major end-users in epoxy adhesives. The prominent reasons for the broad acceptance of epoxy adhesive in this diverse market are due to their outstanding physical properties such as resistance to corrosion and chemicals, releases no volatiles during curing, compatible with numerous surfaces such as metal, plastic, wood, and ceramic, and offers high durability & strength. Despite its performance capabilities, ease of use is also the prime reason driving the global epoxy adhesives market demand.

The following factors are likely to contribute to the growth of the epoxy adhesive market-

• Increasing Spending on Building & Construction
• Rising Home Improvement Activity
• Increasing Demand for Bio-based Epoxy Adhesive
• Growing Demand from Aerospace Industry
• Epoxy Adhesive Replacing Mechanical Fasteners
• Increasing Demand from Consumer Electronics Industry

KEY HIGHLIGHTS

• According to a report by the Joint Center of Housing Studies of Harvard University, boomers are expected to account for 56% of all residential remodeling spending by 2025, increasing 31% from 2025. This factor will drive the demand for epoxy adhesives in the construction sector.
• Sustainable development has become one of the prime objectives in the manufacturing sector. As a result, the demand for bio-based polymers such as cellulose, starch, protein, or lignin is increasing as a replacement for petroleum-based adhesives.

EPOXY ADHESIVE MARKET SEGMENTS

The epoxy adhesive market report includes a detailed segmentation by-

• Type
• Distribution channel
• End-Use
• Geography

EPOXY ADHESIVE MARKET SEGMENTATION

• One-component epoxy adhesive is being used in place of brazing joints or wielding, thus, reducing the manpower cost and the threat associated with t labor-intensive welding process. Therefore, it is one of the major reasons for the increasing use of one-component epoxy adhesive in the adhesive industry.
• The penetration of offline mode is high compared to online. Moving forward, the online channel of distribution is expected to grow faster due to the increasing digitalization in the chemical industry. Due to increasing technological adoption and internet availability, vendors promote and sell their products via online distribution channels.

Market segmentation by Type

• One-Component
• Two-Component

Market segmentation by Distribution Channel

• Online
• Offline

Market segmentation by End-Use

• Building & Construction
• Automotive & Transportation
• Aerospace
• Semiconductor
• Electrical & Electronics
• Wind Energy
• Others

GEOGRAPHICAL ANALYSIS

• North America: The electronics industry will be one of the fastest-growing segments in the region amongst all the major end-user industries. This is due to the rise in demand for various electronic devices, the onset of 5G technology, smartphones, healthcare and lifestyle devices, electric cars, etc.
• Latin America: In Latin America, in 2021, around 228 properties are under construction, over 106 hotels are likely to be completed by 2022, and another 55 hotel projects are in the pipeline for 2023. So, with the existing opportunities in the construction industry, the market for epoxy adhesive will rise in the region in the forecast period.

Market segmentation by Geography

• North America

US

Canada

• Latin America

Brazil

Mexico

Argentina

Colombia

• Europe

Germany

Russia

France

Italy

Turkey

UK

Poland

Spain

Sweden

• Middle East & Africa

Saudi Arabia

UAE

South Africa

• APAC

China

Japan

India

South Korea

Indonesia

Australia

VENDOR LANDSCAPE

• The key players in the epoxy adhesive market are Henkel, B. Fuller, 3M, Sika, and Permabond.
• Companies must enter collaborative partnerships as a key strategy to ensure a sustainable presence in the market. Such associations or acquisitions will ensure mutual transfer of technologies and delivery of a better product.
• Henkel acquired Aislantes Nicionales and Unión Técnico Comercial SRL in 2019. The company is looking forward to expanding its operations to all parts of Latin America and exploring its market scope.

Key Vendors

• Henkel
• H.B. Fuller
• 3M
• Sika AG
• Permabond

Other Prominent Vendors

• Pidilite Industries
• ITW
• Ashland Global Speciality Chemicals
• Delo Industrial Adhesives
• Huntsman International LLC
• Parson adhesive
• Dymax
• Flamemaster Corporation
• Permatex
• Master Bond
• Solvay Chemicals
• Beacon adhesives
• Jowat
• Hernon Manufacturing

KEY QUESTIONS ANSWERED:

1. What is the market size of the epoxy adhesive market?

2. What are the latest trends in the epoxy adhesives market?

3. Who are the key players in the epoxy adhesive industry?

4. Which region has the highest share in the global epoxy resins market?