Global Epoxy Adhesive Market Size, Share, and COVID-19 Impact Analysis, By Type (One-Component, Two-Component & Others), By End User (Building & Construction, Transportation, Automotive, Wind Energy, Marine, Electrical & Electronics & Others), and by Region (North America, Europe, Asia-Pacific, South America, Middle East, and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The global epoxy adhesive market was valued at USD 7.64 Billion in 2021 and is projected to reach USD 15.42 Billion by 2030, at a CAGR of 6%. Industrial adhesives that have a high combining strength fall within the category of these adhesives. These adhesives are mostly applied to materials like glass, metal, wood, and various polymers. Additionally, some adhesives are employed in optoelectronic and fiber optic applications after being UV-cured. Epoxy adhesives are majorly collectives of curing agent and epoxy resin. Epoxy composition and curing agent composition are packaged separately to create two-component epoxy bonding. Soon after combining the two components, they cure.

COVID-19 ANALYSIS

The COVID-19 has impacted severely on the global epoxy adhesive market. A reduction in market growth was observed in 2020 as a result of the COVID-19 pandemic, which continues to be an issue for the sector. The pandemic had a significant influence on several industries, which experienced significant declines in the first half of 2020. New obstacles for sectors have emerged as a result of the crisis, including rising raw material costs, supply chain disruptions, production halts, and manpower shortages.

TREND

Growing Urbanization Across the World Creating Demand of Product

Epoxy adhesive uses have significantly increased as a result of the rapid urbanization and infrastructure growth in emerging countries. The global epoxy adhesives market is being driven by rising urbanization and an increase in the use of composites, plastics, and other higher strength metals in the building sector.

DRIVERS

Increasing Usage of Composites Across Different Applications Supporting ProductGrowth

The increasing usage of composites across different applications are likely to propel growth of the global epoxy adhesives market. The increasing demand in the construction and OEMs are boosting the market growth. Additionally, the spike in demand for these adhesives in building projects to bind materials like ceramics, wood, and metals also contributes to the global market's expansion.

RESTRAINT

Fluctuating Prices of Raw Materials to Hamper the Market Growth

The prices of raw material could restrain market growth of the global epoxy adhesive market. However, the market expansion is constrained by the high toxicity of epoxy fumes and growing environmental concerns.

SEGMENTATION INSIGHTS

The global epoxy adhesive market is segmented By Type (One-Component, Two-Component & Others), By End User (Building & Construction, Transportation, Automotive, Wind Energy, Marine, Electrical & Electronics & Others) and region. Based on the product type, the market is categorized into one-component, two-component & others. Based on end user, the market is categorized into building & construction, transportation, automotive, wind energy, marine, electrical & electronics & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

REGIONAL INSIGHTS

The global epoxy adhesive market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Europe is expected to dominate the market share of global epoxy adhesive market owing to significant growth potential for lightweight materials is being created in the region as a result of the focus on lowering CO2 emissions in Europe through the implementation of Euro 6d emission regulations in 2020. Over the next few years, it is projected that the emphasis on lightweight materials would increase demand for adhesives in Europe's automotive sector.

However, Asia-Pacific is anticipated to emerge as the fastest-growing region over the forecast period. The market is driven by aspects like fast economic expansion, increased disposable incomes, and a subsequent rise in demand for residential housing and solar installations. The region is observing fast urbanization, and there are rising government and private-sector investments in infrastructure development, which is helping to drive up demand for epoxy adhesives in the area. This will increase demand for epoxy adhesives in the APAC region during the projection period as well as the building and construction industry in nations like China and India.

LIST OF KEY COMPANIES PROFILED:

· 3M

· Ashland

· Bostik

· Delo Industrie Klebstoffe GmBH & Co. KGAA

· Dow

· H.B. Fuller Company

· Henkel AG & Co. KGaA

· Hernon Manufacturing Inc

· Hubei Huitian New Materials Co. Ltd.

· Huntsman Corporation

· Illinois Tool Works Incorporation

· Lord Corporation

· Mapei S.P.A

· Masterbond Inc.

· Panacol-Elosol GmBH

· Parker Hannifin Corp

· Parson Adhesives Inc

· Permabond LLC

· RPM International

· Sika AG

· Uniseal Inc.

· Weicon GmBH & Co. KG

· Others

KEY INDUSTRY DEVELOPMENTS:

February 2020- Henkel AG & Co. KGaA has setup its new adhesive production facility in Kurkumbh, Maharashtra, India.

April 2019- Henkel AG & Co. KGaA built a new OEM application center in Connecticut to provide cutting-edge services and create specialized software, technologies, and manufacturing procedures to better serve its clients.

March 2019- H.B. Fuller opened an engineering adhesives company in Japan with an emphasis on high-performance epoxy adhesives, including reactive adhesive chemistries and applications, this growth has reinforced its engineering adhesive (EA) operations in Japan.

SEGMENTATION

By Type

• One-Component
• Two-Component
• Others

By End User

• Building & Construction
• Transportation
• Automotive
• Wind Energy
• Marine
• Electrical & Electronics
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa