Epoxy Adhesives Market : Current Trends, Competition & Companies involved, Drivers and Restraints (2015 to 2021)

Epoxy adhesives are high strength adhesives used extensively across various industries. They are made of epoxy resins, which are in turn made up of the chemical bisphenol A. Epoxy adhesives can be used for adhesion of numerous substrates such as wood, metals, plastics, glass and stones. After application, epoxy adhesives require time for curing or setting. This can be done with the help of heat or by exposure to ultra violet light or at room temperature. The epoxy adhesives cured by exposure to ultra violet light are used to manufacture fiber optics and opto electronics. Epoxy adhesives have strong adhesion which makes them the most commonly used structural adhesives.

Epoxy adhesives find extensive use in aerospace, automotive, building & construction and semiconductor industry. Of these industries, aerospace and semiconductor industries are the two major consumers of epoxy adhesives. The growth of the aerospace industry is a key driver for the growth of epoxy adhesives market. The blades of aircrafts are joined using epoxy adhesives. Due to the superior mechanical properties of epoxy adhesives, such as resistance to creep under sustained load, temperature and pressure variations, they are the adhesives of choice for the aerospace industry. The semiconductor industry makes use of epoxy adhesives to manufacture printed circuit boards, integrated circuits and transistors. The semiconductor industry is growing exponentially due to the increase in usage of electronic gadgets. This is driving the market of epoxy adhesives. However, the application of epoxy adhesives must be carried out with protective gear owing to the toxic fumes which are emitted during its application. Technological advances to make the adhesives safer for humans during application are expected to open new areas of opportunity for the market of epoxy adhesives.

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China, Germany, the U.S and U.K are major consumers of epoxy adhesives. The aerospace and semiconductor industry in these countries are the largest markets of epoxy adhesives. The growth of this market is also seen in other Asia Pacific countries. South Korea and Japan are large scale manufacturers of epoxy resins. The market of epoxy adhesives is expected to grow considerably in the forecast period in Asia and Europe. Latin America shows a steady demand of epoxy adhesives for the building & construction industry.

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The application of epoxy adhesives requires pre treatment of substrates which ensures superior adhesion. There are two major types of epoxy adhesives – one component, heat curing epoxy adhesive and two component room temperature curing epoxy adhesive. One component epoxies are used as alternatives to welding and riveting and have excellent adhesion to metals. These epoxy adhesives require cold storage to provide sufficient shelf life. They are used for bonding large areas and find application in aerospace industry for assembly of aircraft panels and rotor blades.

The two component epoxy adhesives are cured at room temperature and can take up to several days to weeks to achieve adhesion. These adhesives can be used on all types of substrates including rubber, wood, plastics, glass and ceramics. The market of epoxy adhesives is fragmented across the globe. There are numerous small, medium and large players in this market, which serve many markets and produce numerous epoxy adhesive variants. For instance, Henkel manufactures electrically conductive adhesives. The major players in this market include- Henkel, Permabond, The Gorilla Glue Company, 3M, Ardex, MG Chemcials, MAPEI, 5M, Epotek, Powerblanket and Masterbond among others.

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