IMARC Group’s latest report, titled “Epoxy Adhesives Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global epoxy adhesives market size reached US$ 7.6 Billion in 2022. Epoxy adhesives refer to thermoset polymer plastic materials comprising epoxy resin and a curing agent. They are mainly used to adhere or join different surfaces with a robust and permanent bond. They have an extremely durable, strong, and flexible structure that can withstand extreme environmental conditions. They offer several benefits, including superior resistance to chemical, water, vibration, and shock, excellent tolerance to thermal cycling, void-filling capabilities, electrical and thermal conductivity, and dimensional stability. They also maintain their resilience for extended periods and do not melt when exposed to high temperatures. As a result, epoxy adhesives are widely employed for sealing, coating, and filling applications across the construction, transportation, marine, automotive, and electrical sectors.
Global Epoxy Adhesives Market Trends:
The increasing applications of epoxy adhesives across various industries represent the primary factor driving the market growth. For instance, epoxy adhesives are commonly used in the construction sector to bond metals, concrete, glass, ceramics, and various plastics. Besides this, they are extensively utilized in the automotive industry for structural bonding and assembly operations. This is further supported by the rising usage of lightweight materials in automobiles to decrease their weight for higher fuel efficiency and lower emission of pollutants. In addition, there has been a surge in demand for eco-friendly, green, and sustainable adhesives produced from renewable, recycled, or biodegradable materials. Along with this, the growing adoption of epoxy adhesives in heavy industrial tools and machinery due to their excellent performance against high temperatures and resistance to strong chemicals and harsh environmental conditions has catalyzed the product demand. Furthermore, the leading manufacturers are introducing waterborne epoxy adhesives to minimize the risk of volatile organic compounds (VOCs) and improve worker safety. In line with this, the ongoing research and development (R&D) activities to launch radiation-cured epoxy adhesives have propelled market growth. Other factors, including the rising production of electric vehicles (EVs), increasing product use in underwater construction, surging number of wind power and solar installations, and continual product innovations, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 10.7 Billion by 2028, growing at a CAGR of 5.7% during 2023-2028.
- Based on the product type, the market has been segmented into one, two, and other components.
- On the basis of the distribution channel, the market has been bifurcated into online and offline.
- The market has been classified based on the end use industry into aerospace and defense, automotive, marine, electrical and electronics, construction, energy and power, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 3M Company, Bostik SA (Arkema S.A.), DELO Industrial Adhesives, DuPont de Nemours Inc., Helmitin Adhesives, Hexcel Corporation, Mapei S.p.A., Master Bond Inc., Parker Hannifin Corporation, Permabond LLC, Pidilite Industries Limited and Sika AG.
|Base Year of the Analysis
||Product Type, Distribution Channel, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||3M Company, Bostik SA (Arkema S.A.), DELO Industrial Adhesives, DuPont de Nemours Inc., Helmitin Adhesives, Hexcel Corporation, Mapei S.p.A., Master Bond Inc., Parker Hannifin Corporation, Permabond LLC, Pidilite Industries Limited and Sika AG.
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