Global Epoxy Adhesives Market Size Insights Forecasts to 2032
- The Epoxy Adhesives Market Size was valued at USD 8.2 Billion in 2022.
- The Market is Growing at a CAGR of 6.4% from 2022 to 2032
- The Worldwide Epoxy Adhesives Market Size is expected to reach USD 14.5 Billion by 2032
- North America is expected to Grow the fastest during the forecast period
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The Global Epoxy Adhesives Market Size is expected to reach USD 14.5 Billion by 2032, at a CAGR of 6.4% during the forecast period 2022 to 2032.
Epoxy adhesives are a particular kind of adhesive in which epoxy resin serves as the main adhesive. Epoxy resins are adaptable materials with outstanding bonding capabilities, strength, durability, and resistance to a variety of environmental conditions. Due to their capacity to successfully connect a large variety of materials, epoxy adhesives are widely employed in several sectors and applications. Epoxy adhesives are excellent for applications requiring strong bonding because they have high tensile and shear strengths. They are frequently employed in load-bearing and structural bonding applications. Epoxy adhesives can be used to join a wide range of substances, including composites, metals, plastics, ceramics, wood, and glass. They are excellent for a variety of applications due to their adaptability.
Impact of COVID 19 On Global Epoxy Adhesives Market Size
Due to lockdowns, limitations, and a shortage of workers in the early phases of the pandemic (early 2020), numerous industries faced production and supply chain problems. The manufacturing and availability of epoxy adhesives were probably affected by this interruption. Construction, automotive, electronics, and manufacturing are just a few of the industries that may have an impact on the need for epoxy adhesives. The pandemic had varying effects on these areas. For instance, the automobile industry saw a drop in sales, which resulted in a fall in the demand for adhesives used in automotive assembly. Lockdowns and building project delays have an influence on the construction industry. Due to government stimulus packages, some construction projects were delayed or abandoned while others were continued or even expedited. This mixed effect may have had an impact on the demand for epoxy adhesives in the construction industry.
Global Epoxy Adhesives Market Report Coverage
|Market Size in 2022:
|USD 8.2 Billion
|Forecast Period 2022-2032 CAGR:
|2032 Value Projection:
|USD 14.5 Billion
|Historical Data for:
|No. of Pages:
|Tables, Charts & Figures:
|By Type, By Application, by Region, and COVID-19 Impact
|Sika AG, The DOW Chemical Company, Ashland Inc, Illinois Tool Works Incorporation, Permabond LLC., Henkel AG & Co. KGaA, and
|Pitfalls & Challenges:
|COVID-19 Empact, Challenge, Future, Growth & Analysis.
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Key Market Drivers
Epoxy adhesives are essential for lightweighting, joining composite materials, and assembling essential components in the automotive and aerospace industries. The need for sophisticated epoxy adhesives with high strength and durability is anticipated to increase as these sectors place an emphasis on fuel efficiency and lightweight design. Devices need to be smaller and more compact because of the electronics industry. Epoxy adhesives are used to assemble PCBs, package semiconductors, and affix electronic components. The demand for high-performance epoxy adhesives is projected to rise as electronics become more integrated and smaller. Given that many of the aforementioned industries are directly related to overall economic performance, economic development and stability can have a substantial impact on the demand for epoxy adhesives.
Key Market Challenges
Epoxy resins and curing agents are two examples of the raw materials whose costs can change and are utilised to make epoxy adhesive formulations. This turbulence may have an impact on production costs, which therefore has an impact on epoxy adhesive pricing. The epoxy adhesives market is cutthroat, with several producers offering a large selection of goods. Pricing pressure and the need for ongoing innovation to differentiate items can result from competition. It can be difficult to achieve good adhesion to some substrates, including plastics, composites, and low-energy surfaces. Epoxy adhesive formulas must be modified and improved in order to properly handle these issues. It can be difficult to protect intellectual property when it comes to cutting-edge epoxy adhesive compositions and manufacturing procedures, especially when competitors might try to copy them.
One component type segment is dominating the market over the forecast period
On the basis of type, the Global Epoxy Adhesives Market Size is segmented into One Component, Two Component, And Others. Among these, one component type segment is dominating the market over the forecast period. c
Building and construction segment holds the highest market share over the forecast period
Based on the application, the Global Epoxy Adhesives Market Size is segmented into Building and Construction, Transportation, Electrical and Electronics, and Others. Among these, the building and construction segment holds the highest market share over the forecast period. Epoxy adhesives can join a variety of materials, including concrete, steel, glass, wood, and plastics. They are incredibly flexible. Due to their adaptability, they are used in building projects for a variety of purposes, including structural bonding, anchoring, and sealing. Epoxy adhesives are frequently utilised in restoration and repair tasks for concrete. They can be used to restore the structural integrity of old buildings and infrastructure, mend cracks and spalls, and connect fresh concrete to pre-existing structures. Epoxy adhesives are used in infrastructure projects including roads, bridges, and tunnels because of their resilience to severe loads and adverse weather.
Asia Pacific region is dominating the market over the forecast period
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Asia Pacific is dominating the market with the largest market share over the forecast period. Due to its rapid urbanisation and economic expansion, the APAC area has been a hub for infrastructure development. Epoxy adhesives are widely utilised in the construction industry for sealing and bonding tasks, such as waterproofing, structural adhesion, and concrete bonding. Asia-Pacific is home to some of the greatest automobile markets in the world, particularly in nations like China, Japan, South Korea, and India. Epoxy adhesives are used in the production of automobiles for a variety of tasks, such as joining lightweight components, putting pieces together, and maintaining the structural soundness of finished products. A significant manufacturing hub for electrical and electronic products is Asia-Pacific. Epoxy adhesives are essential in the manufacturing of electronic components, circuit boards, and semiconductor devices because they offer electrical insulation, thermal control, and environmental protection.
North America is witnessing the fastest market Growth over the forecast period. The North American market for epoxy adhesives is enormous and has been expanding consistently. It is influenced by things like building activities, infrastructure development, and the need for innovative adhesive solutions in the manufacturing industry. Epoxy adhesives are used extensively in the automotive industry to attach a variety of components, such as body panels, composite materials, and interior pieces. Epoxy adhesives' advantages in terms of light weight and strong strength help reduce vehicle weight and boost fuel economy. Epoxy adhesives are utilised in the electronics industry to bond, encapsulate, and pot electrical components. They offer electrical insulation and shield delicate electronic equipment from the elements.
Recent Market Developments
- In February 2021, Henkel strengthened its strategic partnership with Quad Industries in order to boost sales.
List of Key Companies
- Sika AG
- The DOW Chemical Company
- Ashland Inc
- Illinois Tool Works Incorporation
- Permabond LLC.
- Henkel AG & Co. KGaA
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Global Epoxy Adhesives Market Size based on the below-mentioned segments:
Epoxy Adhesives Market, Type Analysis
- One Component
- Two Component
Epoxy Adhesives Market, Application Analysis
- Building and Construction
- Electrical and Electronics
Epoxy Adhesives Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of Epoxy Adhesives Market?The Global Epoxy Adhesives Market Size is expected to Grow from USD 8.2 Billion in 2022 to USD 14.5 Billion by 2032, at a CAGR of 6.4% during the forecast period 2022-2032.
2. Who are the key market players of Epoxy Adhesives Market?Some of the key market players of Sika AG, The DOW Chemical Company, Ashland Inc, Illinois Tool Works Incorporation, Permabond LLC., Henkel AG & Co. KGaA
3. Which segment hold the largest market share?Building and construction segment holds the largest market share is going to continue its dominance.
4. Which region is dominating the Epoxy Adhesives Market?Asia Pacific is dominating the Epoxy Adhesives Market with the highest market share.
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