Epoxy Adhesives Market is expected to expand at a CAGR of 5.6% from 2021 to 2028.

 Epoxy Adhesives Industry Overview

The global epoxy adhesives market size is expected to reach USD 10.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. Increasing investments in electric vehicles (EVs) and solar and wind energy industries are the prominent factors attributed to the market growth during the projected period.

 

Epoxy Adhesives Market Segmentation

Grand View Research has segmented the global epoxy adhesives market on the basis of technology, application, and region:

 

Based on the Technology Insights, the market is segmented into One Component, Two Component and Others

  • The two component segment accounted for a volume share of more than 44.0% in 2020. The high share can be attributed to its preference, owing to advantages such as vibration & shock resistance, tolerance to thermal cycling, long-term durability, strong adhesion to different substrates, uniform stress distribution, fast curing at ambient temperatures, ease of application, and dimensional stability. 
  • The one component segment is expected to witness a faster growth rate of 6.2%, in terms of revenue, during the forecast period. It is used in applications for structural bonding, repairing, hemming adhesion, bonding, and others in various industries including automotive, aerospace, electronics, and metal fabrication One component epoxy adhesive offers excellent performance against high temperature & resistance against strong chemicals and harsh environmental conditions, which makes it preferable for heavy wear-and-tear applications such as tools & machinery and heavy industries.
  • The others’ segment includes waterborne and radiation-cured epoxy adhesives. The waterborne epoxy adhesives are gaining preference owing to stringent regulations against solvent-based adhesives due to their harmful VOCs. Waterborne epoxy resins also offer high performance and reduce the risk of VOCs and enhance worker safety.

 

Based on the Application Insights, the market is segmented into Automotive & Transportation, Building & Construction, Power & Energy, Electrical & Electronics and Others

  • Based on application, the automotive and transportation segment accounted for the largest revenue share of more than 42.0% in 2020. Epoxy adhesives adhere to a variety of substrates and offer strong bonds, which makes them applicable in vehicles and aircraft.
  • The building and construction segment is another major application of the market, where epoxy adhesives are used as structural adhesives owing to their high performance. They provide versatility, long durability, and a high degree of heat resistance for binding a wide range of materials including wood, metal, plastic, and masonry.
  • The power and energy segment is expected to be the fastest-growing segment in the epoxy adhesives market over the forecast period. Growth in wind power installations accelerates the usage of epoxy adhesives; for instance, wind turbine blade assemblies are made of many bonded and fastened elements.
  • Furthermore, the thermal and electrical conductive properties of epoxy adhesives have augmented their usage in electricals and electronics as well. Electrically conductive adhesives provide strong components and interconnections to gain long-term and reliable performance from electronics.

 

Epoxy Adhesives Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

 

Key Companies Profile & Market Share Insights

Major companies operating in the competitive landscape are primarily focusing on regional expansion, merger and acquisition, and high profit-margin segments along with developing bio-based adhesives to comply with the increasingly stringent environmental regulations.

Some of the prominent players in the epoxy adhesives market include:

  • 3M
  • Ashland
  • Bostik
  • Dow
  • B. Fuller Company
  • Henkel AG & Co. KGaA
  • Mapei S.P.A
  • Parker Hannifin Corp
  • Permabond LLC
  • Sika AG

 

Order a free sample PDF of the Epoxy Adhesives Market Intelligence Study, published by Grand View Research.

 

 

 

 

 

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