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Epoxy Adhesive Global Market Report 2023: Rising Demand for Wood Products Boosts Sector
Epoxy Adhesive Market
Dublin, Jan. 04, 2023 (GLOBE NEWSWIRE) -- The "Epoxy Adhesive Market Size and Share Analysis by Type, End User, Distribution Channel - Global Industry Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The worldwide epoxy adhesive market size was $8,217.9 million in 2021, and it is likely to reach $13,483.9 million by 2030, at a 5.7% CAGR from 2021 to 2030. This is credited to the surging requirement for these adhesives from the construction, cement, automotive, industrial, woodworking, plastic, and marine industries.
The one-component category dominates the epoxy adhesive market because of the short remedial time and solvent-free character of this product. Furthermore, this kind of adhesive is perfect for assembly lines since, unlike two-component adhesives, it requires no mixing, which makes the process of usage easier and more efficient. Though, two component-based epoxy adhesives are expected to observe a high-volume requirement for building & construction applications in the coming years.
Key Findings of Epoxy Adhesive Market Report
The building & construction industry is the largest user of epoxy adhesives, producing the highest revenue, of approximately $2.3 billion, in 2021. This is credited to the adaptability of these adhesives in construction applications.
The increasing demand for epoxy adhesives for structural bonding applications will drive the market growth in the automotive & transport category at a CAGR of approximately 6% in the coming years.
A lot of flexibility is offered by offline distribution channels in selecting products and assessing their quality. Additionally, the automotive and construction industries source their required capacity straight from suppliers and dealers in bulk.
Therefore, the offline category is expected to have more than 75% share of the revenue in the epoxy adhesive market in 2030.
APAC has the largest share in the market because of its huge automotive, construction, electronics, electrical, and semiconductor businesses. Furthermore, this kind of adhesive is widely used in construction and manufacturing activities, which will lead the regional industry to the top in the near future as well.
The revenue share of China was the largest in the APAC market in 2021. It is the largest country in purchasing power parity, the second-largest in terms of nominal GDP, and one of the major exporters of sealants and adhesives.
Similarly, the U.S. holds the majority of the market share in North America, as the construction sector is a major contributor to the country's economy. The momentous development in the construction industry is credited for the rise in the demand for these adhesives in the country.
The stalwarts of the epoxy adhesive market are actively taking part in mergers and partnerships to fortify their presence. For example, Huntsman Corporation publicized its partnership with Azelis Americas CASE LLC, its delivery partner in the U.S.; and Azelis Canada Inc., its delivery partner in Canada, in July 2020.
Report Attribute | Details |
No. of Pages | 124 |
Forecast Period | 2021 - 2030 |
Estimated Market Value (USD) in 2021 | $8217.9 Million |
Forecasted Market Value (USD) by 2030 | $13483.9 Million |
Compound Annual Growth Rate | 5.7% |
Regions Covered | Global |
Market Segments
By Type
One-Component
Two-Component
By End-user
Building & Construction
Automotive & Transportation
Aerospace
Semiconductor
Electrical & Electronics
Wind Energy
Others
By Distribution Channel
Online
Offline
Market Dynamics
Trends
Acquisitions and Facility Expansions
Surging Adoption of Bio-Based Adhesives and Sealants
Drivers
Growing Building & Construction Industry
Increasing Demand for Electric Vehicles
Rising Demand for Wood Products
Restraints
Rising Cases of Health Problems
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Definition of Market Segments
Chapter 5. Industry Outlook
Chapter 6. Global Market Size and Forecast
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. MEA Market Size and Forecast
Chapter 12. Competitive Landscape
Chapter 13. Company Profiles
Chapter 14. Appendix
Companies Mentioned
3M Company
Henkel AG & Co. KGaA
H.B. Fuller Company
Huntsman Corporation
Sika AG
Pidilite Industries Limited
The Dow Chemical Company
Arkema Group
Parker LORD
For more information about this report visit https://www.researchandmarkets.com/r/ydkcnl
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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