Epoxy Adhesives Market is estimated to touch USD 11.8 billion in 2029, growing at 5.7% CAGR during 2022-2029 | Share, Size & Forecast

Epoxy Adhesives Market

Epoxy Adhesives Market was valued at USD 7.6 billion in 2021 and is projected to reach USD 11.8 billion in 2029, registering a CAGR of 5.7%.

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The factors driving the growth of Epoxy Adhesives Market includes rapid growth in the Aerospace industry, increasing use of epoxy adhesives for manufacturing automobiles and rise in the number of construction activities around the world. According to the report published by Statista, the motor vehicle production worldwide has increased from 78 million units in 2020 to 80 million, ongoing demand for automobile is expected to accelerate the Epoxy Adhesives Market share in the approaching years. Moreover, the increasing adoption of advanced technologies by manufacturers, rise in the launch of innovative epoxy adhesive products, growing emphasis on reducing carbon emissions, superior mechanical properties of epoxy adhesives and expansion of the semiconductor industry, are some of the additional factors supplementing the Epoxy Adhesives Market size. In addition, the increasing investments by leading players on research and development, rising disposable incomes, improvements in the living standards, rapid urbanization, and growing population growth rates, are further contributing to the market growth.

However, the growth of Epoxy Adhesives Market is hindered attributed to high toxicity of epoxy fumes and rising concerns related to environmental pollution.

The prominent players operating in the market are Benson Polymers Ltd, Collano Adhesives AG, 3M, AdCo UK Limited, Adhesive Technologies Corp., American Chemical Inc., DELO Industrial Adhesives, Henkel, Arkema Group (Bostik SA) and Ashland Inc., among others.

Based on Type, the One Component segment is predicted to expand at a significant CAGR during the forecast period

On component epoxy adhesive products are easier to control and are increasingly used for structural bonding and repairing in automotive and electronics industry, are some of the factors responsible for the segment's growth.  

Based on End-Use Industry, the Construction segment is projected to grow at a remarkable CAGR over the forecast period

As per the Epoxy Adhesives Market Global Forecast, Epoxy adhesives are increasingly used in public infrastructure projects like building bridges and buildings, are the key factors propelling the segment's growth.

Based on Region, the Asia-Pacific region is anticipated to capture a sizeable market share during the forecast period

Increase in Foreign Direct Investments (FDI) in the construction sector, growing popularity of electric vehicles, rise in Government's expenditure on the infrastructure projects, growing disposable income and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.

Key Development

In 2019, Henkel, invested nearly US$ 39.4 billion to expand its facilities in Europe to deliver high-performing aerospace solutions in Spain.

Market Segmentation

Segmentation by Product Type

One Component
Two Component

Segmentation by End-Use Industry

Aerospace and Defense
Automotive
Marine
Electrical and Electronics
Construction
Energy and Power
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.