The global epoxy adhesives market size is expected to grow at more than 5.73% CAGR from 2023 to 2030. It is expected to reach above USD 15.43 billion by 2030 from a little above USD 10.45 billion in 2023.
Epoxy adhesives provide strong bond strength, high compressive strength, resistance to cyclic fatigue, enhanced durability, and better toughness to meet the demanding requirements of the aerospace sector. Epoxy adhesives can be used to increase the performance, reduce weight, and improve the fuel efficiency of UAVs, satellites, and aircraft. For uses like landing gear doors, floor and ceiling panels, overhead storage bins, galleys, and restrooms among others, there has been a noticeable growth in utilization in aeroplanes. In the upcoming years, the worldwide epoxy adhesives industry is anticipated to have a wide range of growth prospects due to factors like rising demand from emerging nations and technological improvements.
Epoxy adhesives find extensive application across industries such as automotive, aerospace, construction, electronics, and consumer goods. The overall growth and demand from these sectors play a significant role in driving the epoxy adhesives market. For example, the increasing production of lightweight vehicles and the need for strong, durable bonding solutions in the automotive industry fuel the demand for epoxy adhesives. The construction sector is a major driver of epoxy adhesives due to its wide-ranging applications, including bonding, sealing, and repairing of various materials. The growth in residential, commercial, and infrastructure projects worldwide, particularly in emerging economies, contributes to the demand for epoxy adhesives. Many industries are increasingly adopting lightweight materials like composites and plastics to improve fuel efficiency, reduce emissions, and enhance overall performance. Epoxy adhesives provide strong bonding solutions for these lightweight materials, driving their demand in industries such as aerospace, automotive, and wind energy. The electronics sector is witnessing significant growth, driven by advancements in technology, increasing adoption of smart devices, and the expansion of electric vehicles. Epoxy adhesives are crucial for electronic component assembly, circuit board bonding, and encapsulation. The expanding electronics industry fuels the demand for epoxy adhesives.
Epoxy adhesives, especially high-performance formulations, can be relatively more expensive compared to other adhesive options. The higher initial cost can sometimes be a deterrent for end-users, particularly those operating on tight budgets or in price-sensitive industries. This cost factor can limit the widespread adoption of epoxy adhesives, especially in certain applications or industries. While epoxy adhesives generally exhibit good temperature resistance, extreme temperature variations can sometimes affect their performance. In very high-temperature environments, epoxy adhesives may soften or degrade, while in extremely low-temperature conditions, they can become more brittle. These limitations can restrict the use of epoxy adhesives in certain applications that require exceptional temperature resistance.
Technological advancements play a crucial role in driving the epoxy adhesives market. Research and development efforts focused on enhancing the performance, versatility, and ease of use of epoxy adhesives lead to new product formulations and innovative solutions. Opportunities exist for developing epoxy adhesives with improved properties, such as faster curing times, increased temperature resistance, higher flexibility, and enhanced sustainability features. The growing emphasis on sustainability and environmental regulations presents opportunities for epoxy adhesives. Manufacturers can develop epoxy adhesive formulations with reduced environmental impact, lower VOC emissions, and recyclability. Meeting the increasing demand for environmentally friendly adhesives can help capture market share and meet the needs of eco-conscious industries and consumers.
The pandemic led to a surge in demand for medical equipment, devices, and protective gear. Epoxy adhesives are widely used in medical applications, including bonding medical devices and equipment. The increased need for these products during the pandemic could have driven the demand for epoxy adhesives in the healthcare sector. The construction and automotive industries are major consumers of epoxy adhesives. During the pandemic, these sectors experienced a slowdown due to reduced construction activities, temporary closure of manufacturing plants, and decreased consumer spending. This slowdown could have negatively impacted the demand for epoxy adhesives in these industries. The economic uncertainties caused by the pandemic and subsequent lockdowns may have led to budget constraints for businesses and consumers.
ATTRIBUTE | DETAILS |
Study period | 2020-2030 |
Base year | 2022 |
Estimated year | 2023 |
Forecasted year | 2023-2030 |
Historical period | 2019-2021 |
Unit | Value (USD Billion), (Kilotons) |
Segmentation | By Type, By End-User Industry, By Region |
By Type |
|
By End-User Industry |
|
By Region |
|
Some key players operating in the global epoxy adhesives market include Henkel AG & Co. KGaA, 3M Company, Sika A.G., Ashland Global Holdings Inc., The DOW Chemical Company, H.B. Fuller Co., Huntsman International LLC, Pidilite Industries Ltd., LORD Corporation, Permabond LLC.
The construction sector is a major driver of epoxy adhesives due to its wide-ranging applications, including bonding, sealing, and repairing of various materials. The growth in residential, commercial, and infrastructure projects worldwide, particularly in emerging economies, contributes to the demand for epoxy adhesives.
The global epoxy adhesives market size was estimated at USD 9.35 billion in 2023 and is expected to reach USD 15.43 billion in 2030.
The global epoxy adhesives market is expected to grow at a compound annual growth rate of 5.73% from 2023 to 2030 to reach USD 15.43 billion by 2030.
The Asia Pacific dominated the global epoxy adhesives market with a share of 39% in 2023.
Furthermore, unlike two-component adhesives, one-component adhesives do not require mixing, making them ideal for use in assembly lines. This simplifies and streamlines the manufacturing process. However, it is projected that demand for two-component-based epoxy adhesives in building and construction applications would rise significantly in the future years.
[caption id="attachment_31190" align="aligncenter" width="1920"]Based on end-user industry, market is segmented into building construction, transportation, automotive, aerospace, electrical & electronics. In 2023, the global epoxy adhesives market was led by the construction industry. Epoxy adhesives are used in a variety of construction-related applications, including laminated wood for decks, walls, and roofs, floor and tile restoration, and outdoor uses. Strong connections to concrete, wood, metal, glass, and stone are produced by epoxy adhesives, which also have a high heat and chemical resistance. Epoxy adhesives' ability to conduct heat and electricity has also increased their use in electrical and electronic applications. In order to achieve durable and dependable performance from electronics, electrically conductive adhesives offer solid components and linkages. Over the course of the forecast year, it is predicted that this will increase product demand in the electrical and electronics sector.
[caption id="attachment_31189" align="aligncenter" width="1920"]Key competitors from both domestic and international markets compete fiercely in the worldwide global epoxy adhesives industry are Henkel AG & Co. KGaA, 3M Company, Sika A.G., Ashland Global Holdings Inc., The DOW Chemical Company, H.B. Fuller Co., Huntsman International LLC, Pidilite Industries Ltd., LORD Corporation, Permabond LLC.
Recent News:January 9, 2023: With the launch of Loctite 3296- a new dual cure adhesive- Henkel expanded its range of dedicated active alignment adhesives for ADAS sensors, which are essential for precision and high sensor reliability.
February 2,2023: H.B. Fuller Company announced it had acquired the Belgium-based company Fourny nv, a well-respected provider of construction adhesives with more than 70 years of experience in technologies focused on commercial roofing, construction, and other private label industrial specialties.
The global epoxy adhesives market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
In 2023, Asia-Pacific controlled the world market. Additional factors contributing to the expansion of this geographical segment include rising urbanisation, expanding R&D activities, the expansion of foreign players in this region, and technical improvements. The expansion of this region is fueled by the industrial growth of nations like China, India, and Japan, increased vehicle penetration, and rising building and development activities. The need for epoxy adhesives in the area has increased due to growing uses in electronics, aerospace, and marine applications. The market's expansion is aided by rising knowledge about the usage of renewable energy sources and attempts to encourage the use of electric vehicles in this region's developing nations.
Want to know more about the report or any specific requirement?
We asked them to research ‘ Equipment market’ all over the world, and their whole arrangement was helpful to us. thehealthanalytics.com insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
We asked them to research ‘Equipment market’ all over the world, and their whole arrangement was helpful to us. thehealthanalytics.com insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
Our Report’s database covers almost all topics of all regions over the Globe.
Tie ups with top publishers around the globe.
Complete pre and post sales support.
Complete secure payment process.