Epoxy Adhesives Market
Epoxy Adhesives Market was valued at USD 7.6 billion in 2021 and is projected to reach USD 11.8 billion in 2029, registering a CAGR of 5.7%.
The factors driving the growth of Epoxy Adhesives Market includes rapid growth in the Aerospace industry, increasing use of epoxy adhesives for manufacturing automobiles and rise in the number of construction activities around the world. According to the report published by Statista, the motor vehicle production worldwide has increased from 78 million units in 2020 to 80 million, ongoing demand for automobile is expected to accelerate the Epoxy Adhesives Market share in the approaching years. Moreover, the increasing adoption of advanced technologies by manufacturers, rise in the launch of innovative epoxy adhesive products, growing emphasis on reducing carbon emissions, superior mechanical properties of epoxy adhesives and expansion of the semiconductor industry, are some of the additional factors supplementing the Epoxy Adhesives Market size. In addition, the increasing investments by leading players on research and development, rising disposable incomes, improvements in the living standards, rapid urbanization, and growing population growth rates, are further contributing to the market growth.
However, the growth of Epoxy Adhesives Market is hindered attributed to high toxicity of epoxy fumes and rising concerns related to environmental pollution.
The prominent players operating in the market are Benson Polymers Ltd, Collano Adhesives AG, 3M, AdCo UK Limited, Adhesive Technologies Corp., American Chemical Inc., DELO Industrial Adhesives, Henkel, Arkema Group (Bostik SA) and Ashland Inc., among others.
Based on Type, the One Component segment is predicted to expand at a significant CAGR during the forecast period
On component epoxy adhesive products are easier to control and are increasingly used for structural bonding and repairing in automotive and electronics industry, are some of the factors responsible for the segment’s growth.
Based on End-Use Industry, the Construction segment is projected to grow at a remarkable CAGR over the forecast period
As per the Epoxy Adhesives Market Global Forecast, Epoxy adhesives are increasingly used in public infrastructure projects like building bridges and buildings, are the key factors propelling the segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to capture a sizeable market share during the forecast period
Increase in Foreign Direct Investments (FDI) in the construction sector, growing popularity of electric vehicles, rise in Government’s expenditure on the infrastructure projects, growing disposable income and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Key Development
- In 2019, Henkel, invested nearly US$ 39.4 billion to expand its facilities in Europe to deliver high-performing aerospace solutions in Spain.
Market Segmentation
Segmentation by Product Type
- One Component
- Two Component
Segmentation by End-Use Industry
- Aerospace and Defense
- Automotive
- Marine
- Electrical and Electronics
- Construction
- Energy and Power
- Others
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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