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Epoxy Adhesives Global Market Report 2023


Major players in the epoxy adhesives market are 3M Company, Ashland Inc., Bostik SA, H B Fuller Company, Henkel AG, Mapei SPA, Sika AG, DuPont de Nemours Inc., Permabond LLC, Lord Corporation, Illinois Tool Works Incorporation, DELO Industrie Klebstoffe GmbH & Co.

New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Epoxy Adhesives Global Market Report 2023" -
KGaA, RPM International, Huntsman Corporation, Hubei Huitian New Materials Co. Ltd., Parker Hannifin Corp, Panacol-Elosol GmbH, Parson Adhesives Inc., The Dow Chemical Company, Uniseal Inc., Weicon GmBH & Co, Hernon Manufacturing Inc., Masterbond Inc., Pidilite Industries Limited, Helmitin Adhesives, Hexcel Corporation, Arkema Group, Jowat Corporation, Flamemaster Corporation, Collano AG, and Benson Polymers Limited.

The global epoxy adhesives market grew from $7.97 billion in 2022 to $8.57 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The epoxy adhesives market is expected to grow to $10.89 billion in 2027 at a CAGR of 6.2%.

The epoxy adhesive market consists of sales of resin and hardener.Values in this market are ‘resin’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Epoxy adhesive is a synthetic compound made of an epoxy polymer or resin and a hardener that is used to adhere or join a range of surfaces with a strong, long-lasting, thermosetting adhesive that can endure high pressure and harsh weather conditions. These adhesives are used for bonding metals, glass, concrete, ceramics, wood, and many polymers and exhibit strong adherence on a variety of substrates.

Asia-Pacific was the largest region in the epoxy adhesives market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the epoxy adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of epoxy adhesives are one component, two components, and others.One component resin is called epoxy resin adhesives that have been heating cured.

They are used for bonding, casting, and joint sealing. The distribution channel involved is online and offline which is distributed to building and construction, transportation, marine, automotive, wind energy, electrical and electronics, and other end users.

The rising urbanization is expected to propel the growth of the epoxy adhesive market going forward.Urbanization is the process of more people moving into urban areas.

Urbanization results in an increase in the population of cities and the size of urban regions are mostly caused by people moving from rural to urban areas.The rise in urbanization will lead to the growth of epoxy adhesives which are used in building and construction, automotive and transportation, marine, electrical, and electronics industries.

For instance, according to The World Bank, a US-based international financial institution that provides loans and grants to the governments of low- and middle-income countries to pursue capital projects, in 2022 more than 50% of the world’s population reside in cities.The number of people living in cities would be more than double to 6 billion by 2045.

Therefore, the rising urbanization in the epoxy adhesive is expected to drive the growth of the epoxy adhesive market.

Technological innovation is the key trend gaining popularity in the epoxy adhesives market.Major companies operating in the epoxy adhesives market are focused on developing new and innovative products to sustain and strengthen their market position.

For instance, in June 2022, Toyo-Morton Ltd., a Japan-based manufacturer of laminating adhesives launched a laminating adhesives portfolio with food-safe products that are free of epoxy silanes and organic tin compounds. Both the solvent-based TOMOFLEX and the solvent-free ECOAD family of laminating adhesives are part of the updated portfolio, and both are appropriate for a variety of applications for multilayer flexible packaging, including dry food, liquid pouches, and high-performance retorts. In multilayer flexible packaging constructions, epoxy silane is frequently used as an adhesion promoter to strengthen the bond between layers and lengthen the shelf life of the packaged goods.

In April 2021, Meridian Adhesives Group, a US-based chemical manufacturing company of adhesives and sealants acquired Pacific Adhesive Systems for an undisclosed amount.With this acquisition, Meridian Adhesives are now positioned to achieve greater heights in cutting-edge adhesive solutions.

Pacific Adhesive Systems is a Malaysia-based firm that provides high-performance epoxy-based adhesive and coating solutions for the semiconductor, medical, and electronics industries.

The countries covered in the epoxy adhesives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The epoxy adhesives market research report is one of a series of new reports that provides epoxy adhesives market statistics, including epoxy adhesives industry global market size, regional shares, competitors with epoxy adhesives market share, detailed epoxy adhesives market segments, market trends, and opportunities, and any further data you may need to thrive in the epoxy adhesives industry. This epoxy adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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