Growing demand from the electrical & electronics Industry is expected to drive the Epoxy Adhesives market in the forecast period 2024-2028. According to TechSci Research report, “Epoxy Adhesives Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, The Global Epoxy Adhesives Market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028.
The Important Factors of the Global Epoxy Adhesives Market
A significant factor fueling the growth of the Global Epoxy Adhesives Market is increasing demand from electrical & electronic industries due to its high thermal and electrically conductive properties. Electrically conductive epoxy adhesives provide strong components and interconnections to gain long-term and reliable performance from electronics. This is anticipated to fuel product demand in the electrical & electronics industry across the forecast period. For instance, in February 2021, Henkel expanded its strategic partnership with Quad Industries to ramp up its sales figures.
The need for the expansion of the Epoxy Adhesives market will be fueled by the automotive & transportation segment due to adhering properties with a variety of substrates and offering strong bonds, which makes them applicable in vehicles. Moreover, the developing electric vehicle industry is also expected to amplify the demand from the automotive application segment. Various governments in developing countries are promoting the use of electric vehicles due to environmental concerns regarding air pollution coupled with the increasing need for lightweight vehicles. Numerous variables including the requirement for newer aircraft designs will result in the extensive use of adhesives in the aerospace industry and increasing demand for new aircraft for both commercial & military usage will drive the market.
Additionally, epoxy adhesives are frequently used in construction for concrete repair and anchoring. To improve the strength of adhesion with wooden surfaces in structures, they are also employed in woodworking and carpentry applications. Epoxy adhesives are frequently used to attach prefabricated elements in public infrastructure, such as bridges. Moreover, they are utilized in the bonding of carbon laminates for columns and slabs as well as steel reinforcing components. Other uses for epoxy adhesives include attaching the ends of concrete or metal pipes for sewage systems and anchoring bolts and steel bars in concrete which led to the growth of the market.
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Moreover, demand in the wind energy sector is rising as a result of ongoing developments in the design of wind turbine blades and other parts which results in increasing demand for epoxy adhesives. The blade is currently being developed to become higher and lighter. The preparation of turbine blades mostly uses epoxy adhesives since they are the greatest option for the adherence of blade pieces. The Epoxy Adhesives Market is anticipated to grow quickly in the coming years due to the rising usage of renewable energy sources and the development of wind turbines.
Furthermore, the market is being further stimulated by the extensive use of Epoxy Adhesives in marine, semiconductors, and power & energy.
However, volatility in the raw material cost can slow down the market growth. Also, the harmfulness of adhesives causes a possible threat to producers that can further slow down the market growth.
The global Epoxy Adhesives Market is segmented based on type, end-use industry, and region.
Based on type, the market is categorized into one-component, two-component, and others. One-Component is expected to hold the largest market share in the forecast period, 2024-2028. One-Component is utilized in various applications due to their superior properties such as quick-curing time and solvent-free composition.
Based on the end-use industry, the market is segmented into automotive & transportation, building & construction, power & energy, and others. The automotive & transportation segment will experience the highest market share during the forecast period. This can be attributed to the demand for lightweight vehicle parts that help in minimizing carbon emissions during production.
Major companies operating in the global Epoxy Adhesives market are:
- Henkel AG & Co. KGAA
- 3M Co.
- Sika AG
- H.B. Fuller Company
- Master Bond Inc.
- Robert McKeown Company, Inc.
- APCM, LLC.
- Arkema S.A.
- Nan Pao Resins Chemical Co Ltd
- Solvay S.A.
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“Asia Pacific region is expected to grow at the highest rate during the forecast period. Rapid economic growth and a subsequent increase in the demand for residential housing and solar installations are expected to benefit the demand for epoxy adhesives in the region. Additionally, Europe, focuses on reducing CO2 emissions by the implementation of Euro 6d emission standards in creating a strong growth potential for lightweight materials in the region increasing demand for epoxy adhesives,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Epoxy Adhesives Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (One-Component, Two-Component, Others), By End Use Industry (Automotive & Transportation, Building & Construction, Power & Energy, Others), By Region and Competition, has evaluated the future growth potential of global Epoxy Adhesives market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Epoxy Adhesives market.”
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