The global “Epoxy Adhesives Market by Type (One-component, Two-component), End-Use Industry (Building and Construction, Transportation, Marine, Automotive, Wind Energy, Electrical and Electronics), and Region – Global Forecast to 2027″, is projected to grow from USD 9.2 billion in 2022 and is projected to reach USD 11.7 billion by 2027, at a CAGR of 5.0%, between 2022 and 2027 period.
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Some of the prominent key players are:
- Henkel AG & Co. KGaA (Germany)
- Sika Group (Switzerland)
- 3M (US)
- H.B. Fuller Company (US)
- DuPont (US)
Opportunities: Increasing demand for non-hazardous, green, and sustainable adhesives
Owing to the rising demand for eco-friendly or green products in various applications, the demand for green adhesives or those with low VOC is increasing. Stringent regulations by the USEPA (United States Environmental Protection Association), Europe’s REACH (Registration, Evaluation, Authorization, and Restrictions of Chemicals), Leadership in Energy and Environmental Design (LEED), and other regional regulatory authorities have forced manufacturers to make eco-friendly adhesives with low VOC levels. In light of this regulatory policies, there is a growing trend in the global epoxy adhesives market for environment-friendly or green buildings, which provides an opportunity for the development of green and sustainable adhesive solutions. Such green adhesive solutions are made from renewable, recycled, remanufactured, or biodegradable materials which are health- and environment- friendly.
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.
Asia Pacific region likely to account the largest share of the global epoxy adhesives market during forecasted period.
Asia Pacific dominated the epoxy adhesives market, followed by Europe and North America. The region is projected to register the highest CAGR, in terms of value, during the forecast period. This growth is mainly due to an increase in the purchasing power of the large population, rising income levels, and higher growth prospects in the renewable energy, automotive, and transportation industries, which encourage multinational companies to make higher investments in this region.
Owing to the increasing demand on the domestic front, increasing income levels, and easy access to resources, Asia Pacific has emerged as the leading consumer and producer of epoxy adhesives. This increase in demand is owing to the increasing end-use activities, including new construction, repairs, maintenance, and renovation (such as flooring, roofing, wall coverings, beams, and airport construction). Increased foreign investments also drive the growth in Asia Pacific due to low-cost labor and availability of raw materials, which will boost the epoxy adhesives demand from the region.
