Overview and Scope
Epoxy adhesive is a synthetic compound made of an epoxy polymer or resin and a hardener that is used to adhere or join a range of surfaces with a strong, long-lasting, thermosetting adhesive that can endure high pressure and harsh weather conditions. These adhesives are used for bonding metals, glass, concrete, ceramics, wood, and many polymers and exhibit strong adherence on a variety of substrates.
Sizing and Forecast
The epoxy adhesives market size has grown strongly in recent years. It will grow from <b>$8.35 billion in 2023 to $8.87 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. </b> The growth in the historic period can be attributed to industrial and construction growth, repair and maintenance needs, consumer electronics demand, automotive lightweighting, smart manufacturing.
The epoxy adhesives market size is expected to see strong growth in the next few years. It will grow to <b>$11.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. </b> The growth in the forecast period can be attributed to sustainability and environmental concerns, electric vehicle (ev) growth, renewable energy infrastructure, aerospace expansion, advanced composite materials. Major trends in the forecast period include technological advancements, sustainable formulations, bio-based epoxy adhesives, miniaturization and microelectronics, hybrid epoxy systems.
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Segmentation & Regional Insights
The epoxy adhesives market covered in this report is segmented –
1) By Type: One Component, Two Component, Other Types
2) By Distribution Channel: Online, Offline
3) By End User: Building and Construction, Transportation, Marine, Automotive, Wind Energy, Electrical and Electronics, Other End Users
<b>Asia-Pacific</b> was the largest region in the epoxy adhesives market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the epoxy adhesives market during the forecast period. The regions covered in the epoxy adhesives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising urbanization is expected to propel the growth of the epoxy adhesive market going forward. Urbanization is the process of more people moving into urban areas. Urbanization results in an increase in the population of cities and the size of urban regions are mostly caused by people moving from rural to urban areas. The rise in urbanization will lead to the growth of epoxy adhesives which are used in building and construction, automotive and transportation, marine, electrical, and electronics industries. For instance, according to The World Bank, a US-based international financial institution that provides loans and grants to the governments of low- and middle-income countries to pursue capital projects, in 2022 more than 50% of the world's population reside in cities. The number of people living in cities would be more than double to 6 billion by 2045. Therefore, the rising urbanization in the epoxy adhesive is expected to drive the growth of the epoxy adhesive market.
Key Industry Players
Major companies operating in the epoxy adhesives market include <b> 3M Company, Ashland Inc., Bostik SA, H B Fuller Company, Henkel AG, Mapei SPA, Sika AG, DuPont de Nemours Inc., Permabond LLC, Lord Corporation, Illinois Tool Works Incorporation, DELO Industrie Klebstoffe GmbH & Co. KGaA, RPM International, Huntsman Corporation, Hubei Huitian New Materials Co. Ltd. Parker Hannifin Corp, Panacol-Elosol GmbH, Parson Adhesives Inc., The Dow Chemical Company, Uniseal Inc., Weicon GmBH & Co., Hernon Manufacturing Inc., Masterbond Inc., Pidilite Industries Limited, Helmitin Adhesives, Hexcel Corporation, Arkema Group, Jowat Corporation, Flamemaster Corporation, Collano AG, Benson Polymers Limited., Arkema Group, Adhesives Technology Corporation, Alteco Chemical Pte Ltd., Chemence Inc., Dymax Corporation, Epoxy Technology, ITW Polymers Adhesives, J-B Weld Company, Kukdo Chemical Co. Ltd., L&L Products, Resin Designs LLC, SCIGRIP Smarter Adhesive Solutions </b>
The epoxy adhesives market report table of contents includes:
1. Executive Summary
2.Epoxy Adhesives Market Characteristics
3.Epoxy Adhesives Market Trends And Strategies
4.Epoxy Adhesives market analysis
5.Epoxy Adhesives Market Size And Growth
6.Epoxy Adhesives Segmentation
7.Epoxy Adhesives Regional And Country Analysis
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27.Epoxy Adhesives Competitive Landscape And Company Profiles
28.Epoxy Adhesives Key Mergers And Acquisitions
29.Epoxy Adhesives Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- 3M Company
- Ashland Inc.
- Bostik SA
- H B Fuller Company
- Henkel AG
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