Asia-Pacific Epoxy Adhesives Market - Segmented by Type, End-user and Geography- Growth, Trends and Forecast (2018 - 2023)
The Asia-Pacific Epoxy Adhesives market is estimated to register a significant CAGR during the forecast period, 2018 - 2023. China is expected to hold the largest share of the market, owing to the healthy growth of construction and automotive industry.
Growing Demand from Automotive Industry
The major use of Epoxy adhesives used in automotive industry is reflected in the structural bonding component, which includes components that include long lasting bonding. Thus, the epoxy adhesives market is directly related to the automotive production. Developments in the recent times pertaining to the adhesives sector has resulted in the production of lightweight and fuel-efficient vehicles. Furthermore, it has been observed that during new car assessment programs and crash tests, vehicles bonded with adhesives perform better, compared to welded vehicles, as they do not affect the substrate used in the automobile assembly. This is further increasing the use of epoxy adhesives in the automotive sector
In 2017, the Chinese automotive sector witnessed the increase in use of New Energy Vehicles. China topped the production of NEVs, with an increase of more than 25% in production in 2017, thus, making the country open to international automobile manufacturers. This factor can further propel the growth of epoxy adhesives in the region
Construction to Hold the Largest Share
The construction end-user accounts for approximately 30% of the total market in 2017. These adhesives are used for joining concrete, brickwork, masonry, elastomeric bearings, timber, ceramic tiles, aluminum, and steel. Moreover, with the increasing applications of plastics, wood and composites in building, the applications of epoxy adhesives in construction is also on rise. Pre-stressed concrete also make use of epoxy adhesives in conjunction with water borne technology. The no VOC emission policy of water borne technology will make sure that these adhesives will have their stronghold in the market during the forecast period
China is Set to Dominate the Region
The Chinese epoxy adhesives market is dominated by a large number of small and medium scale enterprises. Major epoxy adhesives company such as 3M have manufacturing plants in China. Therefore, the overall production of adhesives in the country is expected to increase in comparison to the previous years. The growth in its end-user industry is also expected to provide an increase to its market and is providing the required stimulus for the regional manufacturers in the country. Major end-users in the country include construction followed by automotive. Moreover, other countries in the region, such as India and Japan are also expected to witness steady growth.
September 2017: H.B. Fuller Company acquired Royal Adhesives and Sealants
August 2016: Adhesives division of Alfagres S.A. has been acquired by Henkel AG & Co. KGaA
Major Players: Henkel AG & Co. KGaA, H.B. Fuller Co, Huntsman Corp and 3M, among others.
Reasons to Purchase this Report
To understand the impact of increasing stringent regulations on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating end-user in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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