New York, United States , Nov. 29, 2023 (GLOBE NEWSWIRE) -- The Global Epoxy Adhesives Market Size to Grow from USD 8.2 Billion in 2022 to USD 14.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period.
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A specific type of glue called an epoxy adhesive uses epoxy resin as its primary adhesive. Epoxy resins are versatile building materials with exceptional strength, durability, and resistance to a range of environmental factors. Epoxy adhesives are widely used in many industries and applications because of their ability to successfully bond a wide range of materials. Because they have high tensile and shear strengths, epoxy adhesives are fantastic for applications needing strong bonding. They are extensively used in structural bonding and load-bearing applications. A variety of materials, including composites, metals, plastics, ceramics, wood, and glass, can be joined with epoxy adhesives. They are adaptable and great for a wide range of applications.
COVID 19 Impact
In the early stages of the pandemic (early 2020), various industries experienced production and supply chain issues as a result of restrictions, lockdowns, and a labour shortage. This pause most likely had an impact on the production and supply of epoxy adhesives. Industries including manufacturing, automotive, electronics, and construction are just a few that could have an impact on the need for epoxy adhesives. These locations were affected differently by the pandemic. The demand for adhesives used in vehicle assembly, for instance, decreased as a result of a decline in the automotive industry's sales. The construction industry is affected by lockdowns and delays in major projects. Some construction projects were postponed or abandoned as a result of government stimulus plans, while others were continued or even accelerated.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Epoxy Adhesives Market Size, Share, and COVID-19 Impact, By Type (One Component, Two Component), By Application (Building And Construction, Transportation, Electrical And Electronics), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032
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Type Insights
One component type segment is dominating the market over the forecast period
On the basis of type, the global epoxy adhesives market is segmented into One Component, Two Component, And Others. Among these, one component type segment is dominating the market over the forecast period. One-component epoxy adhesives are easier to use and handle than two-component systems, which need precise mixing. This simplicity may result in better adoption, particularly in situations where speed and convenience are crucial. These adhesives are employed in a number of sectors, including the manufacture of consumer goods, electronics, and vehicles. As different industries Grow and demand adhesives that fulfil specific performance criteria, one-component epoxy adhesives can be designed to meet those needs. Along with industries like electronics and automotive, the demand for high-performance adhesives is increasing. One-component epoxy adhesives stand a fair possibility of dominating in these emerging markets.
Application Insights
Building and construction segment holds the highest market share over the forecast period
Based on the application, the global epoxy adhesives market is segmented into Building and Construction, Transportation, Electrical and Electronics, and Others. Among these, the building and construction segment holds the highest market share over the forecast period. A wide range of materials, including concrete, steel, glass, wood, and polymers, can be joined with epoxy adhesives. They are quite adaptable. They are utilised in construction projects for a number of functions, such as structural bonding, anchoring, and sealing, due to their versatility. Frequently, epoxy adhesives are used in concrete restoration and repair projects. They can be used to connect new concrete to existing structures, repair cracks and spalls, and restore the structural integrity of historic buildings and infrastructure. Because they are resistant to heavy loads and bad weather, epoxy adhesives are utilised in infrastructure projects including highways, bridges, and tunnels.
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Asia-Pacific dominates the market with the largest market share over the forecast period.
sia-Pacific is projected to hold the largest share of the global LED driver market over the predicted years. Government initiatives promoting energy efficiency and sustainability, as well as a greater understanding of the benefits of LED lighting, have increased demand for LED drivers in the region. Rapid urbanization and infrastructure development in China, India, and Japan have also contributed to market growth.
North America is expected to grow fastest in the global LED Driver market during the forecast period. The increasing adoption of smart lighting solutions in commercial applications to improve lighting performance while increasing energy savings can be viewed as a significant factor driving regional market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the, Major vendors in Sika AG, The DOW Chemical Company, Ashland Inc, Illinois Tool Works Incorporation, Permabond LLC., Henkel AG & Co. KGaA, and Others.
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Recent Market Developments
- In February 2021, Henkel strengthened its strategic partnership with Quad Industries in order to boost sales.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Global Epoxy Adhesives Market Size based on the below-mentioned segments:
Epoxy Adhesives Market, Type Analysis
- One Component
- Two Component
- Others
Epoxy Adhesives Market, Application Analysis
- Building and Construction
- Transportation
- Electrical and Electronics
- Others
Epoxy Adhesives Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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