Global Epoxy Adhesives Market - Segmented by Type, End-user and Geography - Growth, Trends and Forecast (2018 - 2023)
The Global Epoxy Adhesives market is estimated to register a significant CAGR during the forecast period. Asia-Pacific is expected to hold the largest share of the market, owing to the healthy growth of construction and automotive industry, especially in countries, like China.
Growing Demand from Automotive Industry is Set to Propel Growth
Epoxy adhesives are used in automotive industry for structural bonding i.e., wherever strong and long lasting bonds are required. The majority of the current automotive bonding applications are of epoxy adhesives. Thus, the epoxy adhesives market is directly related to the automotive production. The recent advancements in the adhesives technologies are aiding automobile manufacturers 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
Construction is Expected to Hold the Largest Share of the End-user Segment
Construction accounts for close to one third of the total share of the market in 2017. Epoxy 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 are also on rise. Furthermore, the application of epoxy adhesives in pre-stressed concrete is also on rise.
Asia-Pacific is Set to Dominate the Region During the Forecast Period
The Chinese epoxy adhesives market is dominated by a large number of small and medium scale enterprises. The major global epoxy adhesives manufacturing companies, such as 3M have their 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.
Notable Developments in the Market
September 2017: H.B. Fuller Company acquired Royal Adhesives and Sealants
Major Players: Henkel AG & Co. KGaA, H.B. Fuller Co, Huntsman Corp and Lord Corp, among others.
Reasons to Purchase this Report
To understand the impact of increasing stringent regulations regarding VOCs 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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