Epoxy Adhesives Market Size Worth $10.5 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, Nov. 4, 2021 /PRNewswire/ -- The global epoxy adhesives market size is expected to reach USD 10.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2021 to 2028. Increasing investments in electric vehicles (EVs) and solar and wind energy industries are the prominent factors attributed to the market growth during the projected period.

Key Insights & Findings:

• By technology, the two component segment dominated the market and was estimated at USD 2.9 billion in 2020. The two component epoxies have excellent shear strength owing to different curing characteristics and provide an additional advantage of getting cured at room temperature, which aids to its consumption
• By application, the automotive and transportation segment dominated the market with a revenue share of over 42.0% in 2020. Growth in the EV industry and increasing consumption of adhesives over mechanical fasteners in vehicles is anticipated to boost the market growth
• The power and energy segment is anticipated to register the highest CAGR of 7.1%, in terms of revenue, during the forecast period. Adhesives are used to protect and bond sensitive mechanical and electrical components such as solar panels, charge controllers, and wind turbine blades in the energy industry
• Asia Pacific dominated the market and held the largest revenue share of over 45.0% in 2020. Increasing investments in the energy and automotive industries of the region are anticipated to further propel market growth across the forecast period

Read 111 page market research report, "Epoxy Adhesives Market Size, Share & Trends Analysis Report By Application (Automotive & Transportation, Building & Construction), By Technology, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research 

The industry is projected to experience significant growth owing to the growing emphasis on the incorporation of lightweight materials in the automotive and transportation industry. The usage of adhesives offers a reduction in the weight of the final product, which has become a crucial factor in the aerospace and automotive industries in recent years. Moreover, epoxy adhesives are used in various other industries as well, such as medical, sports tools, defense, and power and energy.

A growing focus on sustainable solutions and increasing usage of mass timber in the construction industry is expected to bolster the consumption of adhesives, which is further anticipated to offer lucrative growth opportunities for the market. Furthermore, a surge in DIY home improvement activities has been witnessed during the COVID period, as people were spending more time at home. Thus, wide-scope applications in various industries make the market more lucrative.

The COVID-19 pandemic has impacted various commercial and industrial sectors, which led to a halt in new investments resulting in a downfall in global revenue. Moreover, with the continuing second and third waves of the virus, restrictions were seen in Q1 2021 as well. During the pandemic, the prices of raw materials have increased owing to a rise in logistic costs, unavailability of raw materials, and unfavorable weather conditions. It also adversely impacted the end-use industries which remained shut down during the pandemic.

Grand View Research has segmented the global epoxy adhesives market on the basis of technology, application, and region:

• Epoxy Adhesives Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
• One Component
• Two Component
• Others
• Epoxy Adhesives Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
• Automotive & Transportation
• Building & Construction
• Power & Energy
• Electrical & Electronics
• Others
• Epoxy Adhesives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Turkey
• Asia Pacific
• China
• Japan
• India
• South Korea
• Central & South America
• Brazil
• Middle East & Africa
• GCC

List of Key Players of Epoxy Adhesives Market

• 3M
• Ashland Global Holdings, Inc.
• Bostik
• Dow
• H.B. Fuller Company
• Henkel AG & Co. KGaA
• Mapei S.P.A
• Parker Hannifin Corp
• Permabond LLC
• Sika AG

Browse through Grand View Research's coverage of the Global Advanced Interior Materials Industry:

• Epoxy Resin Market–The global epoxy resin market size was USD 7.99 billion in 2015. Growing end-use industries including transportation, marine coatings, aerospace, electrical & electronic laminates, composites, and decorative powder coatings are expected to augment the global epoxy resins demand.
• Epoxy Composite Market–The global epoxy composite market size was valued at USD 28.40 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2021 to 2028.
• Epoxy Coating Market–The global epoxy coating market size was estimated at USD 21.52 billion in 2015, growing at a CAGR of 7.8% from 2016 to 2024.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.