Epoxy Adhesives Market Global Upcoming Trends, Forecast 2026
Global Epoxy Adhesives Market: Trending in 2021
New York, NY 10 June 2021: The global Epoxy Adhesives market size is expected to reach USD 11,631 million by 2026 according to a new study by Polaris Market Research. The report “Epoxy Adhesives Market Share, Size, Trends, Industry Analysis Report, By End-User (Defense and Aerospace, Construction, Automotive, Energy and Power, Marine, Electrical & Electronics, and Others); By Product Type (One-Component, Two-Component, Others); By Regions; Segment Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Epoxy is increasingly being used as a structural adhesive across diverse industries. Epoxy adhesives offer high shear strength while bonding efficiently to a wide range of substrates such as wood, glass, and metal. These adhesives provide minimal shrinkage, superior thermal and chemical resistance, and cohesive strength. Epoxy adhesives can be altered and modified to deliver a wide range of properties and offer customized solutions in the market. Toughened epoxy adhesives are being used in automotive, construction, and aerospace industry owing to need for greater strength and chemical resistance.
The different types of epoxy adhesives include One-Component, and Two-Component. The demand for one-component epoxy adhesives is expected to increase significantly during the forecast period. One-component epoxy adhesives are cured at temperatures between 250-300°F, which offers superior adhesion properties, high strength, and greater environmental and chemical resistance. They are usually applied through trowel or extrusion by beads, and are capable of filling and sealing gaps between surfaces efficiently. Currently in the global Epoxy Adhesives industry, companies, manufacturers, private organizations are collaborating to expand and cater to wider applications and develop advanced technologies.
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Epoxy Adhesives are used in diverse industries such as defense and aerospace, construction, automotive, energy and power, marine, electrical & electronics, and others. The construction segment accounted for the highest share in 2019. However, the energy and power segment is expected to grow at a significant rate during the forecast period. The increasing environmental awareness coupled with government initiatives is encouraging consumers to turn towards solar, wind, hydropower and fuel cells. Use of epoxy adhesives enable these renewable systems to withstand harsh environments, extreme temperatures, chemicals abrasion and mechanical stresses.
Asia Pacific dominated the global market in 2019 and is expected to maintain its dominance over the forecast period. Rising industrial growth, urbanization, and growth in the automotive sector supports market growth in this region. Increasing applications in construction, defense and aerospace, and marine industries further increases the demand of epoxy adhesives in Asia-Pacific. Increasing demand for miniaturized and high performing electronics coupled with increasing awareness regarding adoption of electric vehicles fuels growth in this region. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
The market is characterized by established companies and large giants. Owing to technological advancements, and greater need to cater to customer requirements, companies are collaborating in order to strengthen market presence and gain market share. Broadening of product portfolio is another trend that is visible in the industry. Some of the major market participants include DowDuPont, Sika AG, Huntsman Corporation, Ashland Inc., 3M Company, Lord Corporation, Illinois Tool Works Incorporation, Henkel AG, AdCo UK Limited, Benson Polymers Ltd, 3M Co., Adhesive Technologies Corp., H.B. Fuller, American Chemical Inc., DELO Industrial Adhesives, Collano Adhesives AG, and Alfa International Corporation among others.
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