Chicago, July 07, 2023 (GLOBE NEWSWIRE) -- The global Epoxy Adhesives Market is projected to grow from USD 9.2 billion in 2022 and is projected to reach USD 11.7 billion by 2027, at a CAGR of 5.0%, between 2022 and 2027 period, as per the recent study by MarketsandMarkets™. The growth opportunities in the epoxy adhesives market are increasing due to growing high-performance requirements, such as bonding dissimilar materials.
Asia Pacific is the largest and fastest-growing market for epoxy adhesives. It is projected to register the highest CAGR during the forecast period and offer significant growth opportunities for the epoxy adhesives producers. In order to take advantage of the low manufacturing cost, some industries such as building & construction, transportation, and wind energy are setting up or expanding their manufacturing bases in this region.
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152 - Market Data Tables
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List of Key Players in Epoxy Adhesives Market:
- Henkel AG & Co. KGaA (Germany)
- Sika Group (Switzerland)
- 3M (US)
- H.B. Fuller Company (US)
- DuPont (US)
- Others
Drivers, Restraints, and Opportunities in Epoxy Adhesives Market:
- Drivers: Growing demand for lightweight and low carbon-emitting vehicles
- Restraints: Stringent environmental regulations in North American and European countries
- Opportunities: Increasing demand for non-hazardous, green, and sustainable adhesives
- Challenges: Limited opportunities in developed countries
Key Findings of the Study:
- Henkel AG & Co. KGaA operates with a well-balanced and diversified portfolio globally. It manufactures and distributes and adhesive products, cosmetics, homecare, and laundry.
- A specialty chemical company, Sika is a leading developer and producer of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building and motor vehicles industry.
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The rising labor costs in China have forced various end-use industries to relocate and establish their manufacturing bases in the ASEAN countries, such as Vietnam and Indonesia, where the labor cost is low. This relocation is expected to increase the epoxy adhesives demand in the ASEAN countries. India has an enormous pool of low-cost labor, which can provide significant opportunities for firms to invest. Initiatives, such as ‘Make in India’ and young entrepreneur development by the current government may open up additional opportunities in the industrial and infrastructure construction segments. These factors are expected to drive the market in the Asia Pacific region.
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Europe is the second-largest consumer of epoxy adhesives, globally. The market in Europe is heavily regulated with REACH (Registration, Evaluation, Authorisation, and Restrictions of Chemicals), closely monitoring and issuing guidelines to ensure high levels of protection for the environment and human health from the risks that can be posed by chemicals. The stringent regulatory framework adopted by REACH has resulted in a steady decline in the use of high VOC emitting adhesives, which has forced the German adhesives industry to grow in terms of technology both in the European as well as international markets.
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