The global epoxy adhesives market size is expected to be worth around US$ 12.5 billion by 2030, according to a new report by Vision Research Reports.
The global epoxy adhesives market size was valued at US$ 7.8 billion in 2020 and is anticipated to grow at a CAGR of 6.5% during forecast period 2021 to 2030.
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Epoxy Adhesives Market (By Technology: One Component, Two Component; By Application: Automotive & Transportation, Building & Construction, Power & Energy, Electrical & Electronics) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||USD 12.5 billion by 2030|
|Growth Rate||CAGR of 6.5% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Technology, application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||3M; Ashland; Bostik; Dow; H.B. Fuller Company; Henkel AG & Co. KGaA; Mapei S.P.A; Parker Hannifin Corp; Permabond LLC; Sika AG|
The growth in major end-use industries such as energy, construction, and automotive is expected to boost the demand for epoxy adhesives over the forecast period. Increasing focus on infrastructural developments to propel economic growth, coupled with growing investments in producing Electric Vehicles (EVs) and incorporation of lightweight materials in the automotive industry, is expected to benefit market growth across the forecast period.
A growing focus on sustainable solutions and increasing usage of mass timber in the construction industry is expected to bolster the consumption of adhesives, which is further anticipated to offer lucrative growth opportunities for the market. Furthermore, a surge in DIY home improvement activities has been witnessed during the COVID period, as people were spending more time at home. Thus, wide-scope applications in various industries make the market more lucrative.
By Technology Analysis
The two component segment accounted for a volume share of more than 45.0% in 2020. The high share can be attributed to its preference, owing to advantages such as vibration & shock resistance, tolerance to thermal cycling, long-term durability, strong adhesion to different substrates, uniform stress distribution, fast curing at ambient temperatures, ease of application, and dimensional stability.
The one component segment is expected to witness a faster growth rate of 7.2%, in terms of revenue, during the forecast period. It is used in applications for structural bonding, repairing, hemming adhesion, bonding, and others in various industries including automotive, aerospace, electronics, and metal fabrication industries.
The others’ segment includes waterborne and radiation-cured epoxy adhesives. The waterborne epoxy adhesives are gaining preference owing to stringent regulations against solvent-based adhesives due to their harmful VOCs. Waterborne epoxy resins also offer high performance and reduce the risk of VOCs and enhance worker safety.
By Application Analysis
Based on application, the automotive and transportation segment accounted for the largest revenue share of more than 43.0% in 2020. Epoxy adhesives adhere to a variety of substrates and offer strong bonds, which makes them applicable in vehicles and aircraft.
The building and construction segment is another major application of the market, where epoxy adhesives are used as structural adhesives owing to their high performance. They provide versatility, long durability, and a high degree of heat resistance for binding a wide range of materials including wood, metal, plastic, and masonry.
The power and energy segment is expected to be the fastest-growing segment in the epoxy adhesives market over the forecast period. Growth in wind power installations accelerates the usage of epoxy adhesives; for instance, wind turbine blade assemblies are made of many bonded and fastened elements
By Regional Analysis
Asia Pacific is expected to witness a revenue-based CAGR of 7.2% over the forecast period. The region holds potential growth opportunities from the construction and automotive industries.
Europe held the second-largest revenue share of the market for epoxy adhesives in 2020. The focus on reducing CO2 emissions in Europe by the implementation of Euro 6d emission standards in 2020 is creating a strong growth potential for lightweight materials in the region.
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Mapei S.P.A
- Parker Hannifin Corp
- Permabond LLC
- Sika AG
- By Technology
- One Component
- Two Component
- By Application
- Automotive & Transportation
- Building & Construction
- Power & Energy
- Electrical & Electronics
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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