• John Watson

Global Epoxy Adhesive Market Size to grow by US$ 15.42 Billion in 2030

The epoxy adhesive market is projected to reach US$ 15.42 billion by 2030, at a CAGR of 6%.

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The market is being driven by rising urbanization and an increase in the use of composites, plastics, and other high strength metals in the building sector. Due to its excellent mechanical and electrical insulating qualities, superior mechanical and heat resistance, and strong binding capabilities, epoxy adhesives are frequently employed in this industry. Moreover, they are in high demand for bonding materials including metal, wood, and ceramic in building projects, which is helping the market expand globally. They are also a well-liked option in the production of numerous components of electronic devices, including transistors, circuit boards, and others. These outstanding features include thermal stability and resistance to fluctuations in pressure. The aerospace sector also makes extensive use of epoxy adhesives. In order to produce highly effective airplanes and other equipment, a number of significant businesses, including SpaceX, are entering the aerospace industry and investing in the creation of better adhesives.


Companies are creating bio-based adhesives and sealants to replace chemical-based adhesives in response to growing environmental concerns. Additionally, businesses are creating high tech for these bio-based products in order to improve sustainability efforts without compromising functionality. For instance, The Dow Chemical Company has created the RENUVA technology for adhesives and sealants, which provides advantages for a variety of uses in the adhesives and sealants sector, including better water resistance, high flexibility, and good adhesion on a range of substrates.


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Epoxy adhesives are frequently used to attach prefabricated elements in public infrastructure, such as bridges. Additionally, they are utilised 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.


One-component segment is expected to dominate the market growth of global epoxy adhesive market owing to more effective and simpler to control than two-component product due to its short curing time, solvent-free nature, and user-friendly features. One component epoxy is the best choice for severe wear-and-tear applications including tools, machinery, and heavy industries because it provides outstanding performance against high temperatures, resistance against powerful chemicals, and resilience to harsh climatic conditions. Building & Construction is expected to dominate the market share of global epoxy adhesive market owing to several factors such as adaptable, long-lasting, and highly heat resistance, making them ideal for binding a variety of materials, such as stone, metal, plastic, and wood. They are used in walls, roofing, laminated wood for decks, and other building materials as well as for fastening concrete elements and other materials as well as for attaching countertops to substrates.


Europe is expected to dominate the market share of global epoxy adhesive market owing to significant growth potential for lightweight materials is being created in the region as a result of the focus on lowering CO2 emissions in Europe through the implementation of Euro 6d emission regulations in 2020. Over the next few years, it is projected that the emphasis on lightweight materials would increase demand for adhesives in Europe's automotive sector.


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KEY INDUSTRY DEVELOPMENTS:


February 2020- Henkel AG & Co. KGaA has setup its new adhesive production facility in Kurkumbh, Maharashtra, India.


April 2019- Henkel AG & Co. KGaA built a new OEM application center in Connecticut to provide cutting-edge services and create specialized software, technologies, and manufacturing procedures to better serve its clients.


March 2019- H.B. Fuller opened an engineering adhesives company in Japan with an emphasis on high-performance epoxy adhesives, including reactive adhesive chemistries and applications, this growth has reinforced its engineering adhesive (EA) operations in Japan.


Read More Details On This Report: https://www.extrapolate.com/Chemicals-and-Advanced-Materials/epoxy-adhesive-market/26059

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