The report “Epoxy Adhesives Market by Type (One-Component, Two-Component, And Others), End-Use Industry (Building & Construction, Transportation, Automotive, Wind Energy, Marine, Electrical & Electronics, And Others), and Region – Global Forecast to 2024″ The global epoxy adhesives market size is projected to grow from USD 7.2 billion in 2019 to USD 9.6 billion by 2024, at a CAGR of 6.0%. Increasing urbanization and growing usage of composites, plastics, and other higher strength metals in the construction industry is driving the global epoxy adhesives market. Epoxy adhesives offer the ability to adhere strongly, with exceptional mechanical & electrical insulating properties and chemical and heat resistance.
Epoxy adhesives are experiencing growing demand in the construction industry. Their strength, durability, and resistance to various factors make them suitable for structural bonding, flooring and coatings, concrete repairs, waterproofing, sealing, and prefabricated construction. Additionally, they contribute to energy-efficient practices. This increased demand is driven by the need for reliable and high-performance bonding solutions in construction.
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Browse In-Depth TOC On “Epoxy Adhesives Market”
252 – Market Data Tables
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Building & construction is projected to be the largest end user of epoxy adhesives.
The building & construction industry accounted for the largest share of the overall epoxy ahdesives market, in terms of volume, followed by the automotive industry. The building & construction industry started using epoxy adhesives with the increasing usage of composites, plastics, and other higher strength metals. Growing urbanization is fueling the growth of the construction sector, which is driving the epoxy adhesives market.
Epoxy adhesives market in APAC is projected to witness the highest CAGR during the forecast period.
APAC is projected to be the fastest-growing epoxy adhesives market during the forecast period. China is the largest market for epoxy adhesives in the region. However, India and Thailand are the fastest-growing markets for epoxy adhesives in the region. Owing to increased government investments in developing countries for infrastructure, such as public utilities, commercial, and entertainment structures, and housing demands to cater to the steadily-growing population, the demand for epoxy adhesives in this region is expected to growth significantly.
The major players in the epoxy adhesives market include Henkel AG (Germany), Sika AG (Switzerland), 3M Company (US), H.B. Fuller (US), DuPont (US), Illinois Tool Works Incorporation (US), Ashland (US), RPM International (US), Lord Corporation (US), and Huntsman Corporation (US).
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Two-component, type segment likely to hold largest share of the epoxy adhesives market during the forecasted period.
Two-component epoxy adhesives are more flexible than one-component epoxy adhesives. These adhesives include unique versatility in application and performance. These adhesives consist of a resin and a hardener, formulated to offer mechanical, thermal, optical, and electrical properties. They are generally cured under ambient conditions or moderately elevated temperatures. They are also known as room temperature curing epoxy adhesives.
Two-component epoxy adhesives are the most widely used structural adhesives. Epoxy adhesives with longer life spans usually contain additives and can be formulated into fast-curing systems to provide flexible or tough bond lines. These adhesives are used to bond metal, plastic, fiber-reinforced plastic (FRP), glass, and some rubbers. APAC accounted for the largest market share, globally. The aerospace and automotive industries in the APAC region are major consumers of epoxy adhesives. Moreover, North America is expected to witness significant growth in the near future. The epoxy adhesives market is expected to grow in Europe in the next few years. Furthermore, the Middle East and South American regions are expected to witness steady growth, owing.
