March 09, 2021
According to the latest study titled ‘Epoxy Adhesives Market Share, Size, Trends, Industry Analysis Report, By End-User; By Product Type; By Regions; Segment Forecast, 2020 – 2026’, available with Market Study Report, global epoxy adhesives industry is slated to be worth USD 11,631 million by the year 2026.
The ability to offer excellent shear strength while bonding with various substrates like metal, glass, and wood, along with properties like better cohesive strength, chemical resistance, minimal shrinkage, and superior thermal resistance encourage product usage as structural adhesives across numerous industrial verticals, hence impelling the growth of global epoxy adhesives market. Notably, epoxy adhesive can be customized and cured to offer different properties as per the requirement.
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As per product terrain, one-component segment of worldwide epoxy adhesives market is gaining substantial traction in the recent years, owing to their employment for filling and sealing the gaps between surfaces, and used in extrusion by beads or trowel. One-component epoxy adhesives have beneficial attributes like high strength, environmental & chemical resistance, as well as excellent adhesiveness.
Moving on to end-user scope, construction vertical accounted for massive portion of global epoxy adhesives industry share in 2019. On the other hand, energy and power segmental share is reckoned to record robust growth over 2020-2026, on account of improved environmental cognizance, and constant efforts by government to promote renewable energy sources, including solar, wind, fuel cells, and hydropower. Apparently, epoxy adhesives are applied to renewable energy generation systems in order to withstand extreme temperature, harsh environment, mechanical stress, and chemical abrasion.
From the regional frame of reference, Asia Pacific led the global epoxy adhesives market expansion in 2019 and is poised to showcase similar growth trends over the ensuing years. Swift urbanization and industrialization, in consort with surging demand for epoxy adhesives from an array of application verticals including automotive, military & defense, aerospace, and marine are propelling the regional market size. Moreover, surging sales of consumer electronics, and rising integration of miniaturized & high-performance components are positively swaying the industry dynamics in Asia Pacific.
Prominent players in global epoxy adhesives industry sphere are Alfa International Corporation, Collano Adhesives AG, DELO Industrial Adhesives, American Chemical Inc., H.B. Fuller, Adhesive Technologies Corp., Benson Polymers Ltd., AdCo UK Limited, Henkel AG, Illinois Tool Works Inc. (ITW), LORD Corp., 3M Company, Ashland Global Specialty Chemicals Inc., Huntsman Corporation, Sika AG, and DuPont de Nemours Inc.