The global epoxy adhesives market size is projected to grow from USD 7.2 billion in 2019 to USD 9.6 billion by 2024, at a CAGR of 6.0%. Increasing urbanization and growing usage of composites, plastics, and other higher strength metals in the construction industry is driving the global epoxy adhesives market. Epoxy adhesives offer the ability to adhere strongly, with exceptional mechanical & electrical insulating properties and chemical and heat resistance.
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The building & construction industry accounted for the largest share of the overall epoxy ahdesives market, in terms of volume, followed by the automotive industry. The building & construction industry started using epoxy adhesives with the increasing usage of composites, plastics, and other higher strength metals. Growing urbanization is fueling the growth of the construction sector, which is driving the epoxy adhesives market.
The global epoxy adhesives market is segmented on the basis of region as APAC, Europe, North America, South America, and the Middle East & Africa. The epoxy adhesives market in the APAC region is projected to grow at the highest CAGR during the forecast period. The building and construction industry is contributing to the growing demand for epoxy adhesives in the region.The region is witnessing rapid urbanization and there is increasing government and private-sector investments in infrastructure development. This will boost the building & construction industry in countries such as India and China, which will fuel the demand for epoxy adhesives in the APAC region during the forecast period.
Henkel invested USD 39.4 billion in June 2019 and opened a new European hub for high-performing aerospace solutions in Spain. This expansion has helped to provide high-performance epoxy adhesive solutions for the constantly growing demand and concentrate on the key trends in the global aerospace industry such as light-weighting, fuel efficiency, and automation.
H.B. Fuller established an engineering adhesives business in Japan in March 2019. This expansion has strengthened its engineering adhesive (EA) businesses in Japan by focusing on high-performance epoxy adhesives, including reactive adhesive chemistries and applications.
The key players operating in the concrete admixtures market include Henkel AG (Germany), Sika AG (Switzerland), 3M Company (US), H.B. Fuller (US), DuPont (US), Illinois Tool Works Incorporation (US), Ashland (US), RPM International (US), Lord Corporation (US), and Huntsman Corporation (US).
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