The report “Epoxy Adhesives Market by Type (One-component, Two-component), Application (Building & Construction, Transportation, Automotive, Wind Energy, Marine, Electrical & Electronics), and Region – Global Forecast to 2026″, The global epoxy adhesives market is estimated to grow from USD 5.33 Billion in 2015 to USD 10.13 Billion by 2026, at a CAGR of 6.63% from 2016 to 2026. The market is driven by the increasing trend towards the manufacture of lightweight & low carbon emitting vehicles.
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Building & Construction: Largest application of the epoxy adhesives market
In 2015, the building and construction application accounted for the largest market share in terms of volume, followed by the automotive application, which is majorly due to the higher acceptance and usage from the end-users. The building and construction industry has started using epoxy adhesives, with the increasing usage of composites, plastics, and other higher strength metals. The growing urbanization due to the improved living standards of the population thus drives the global epoxy adhesives market.
One-component: The fastest growing type segment of the epoxy adhesives market
The one-component based epoxy adhesives market is estimated to grow at the highest CAGR from 2016 to 2021, in terms of volume. The excellent properties of the one-component type adhesives such as quick curing time, a solvent-less system, and consumer-friendly usage, is driving the demand in this segment.
Asia-Pacific: The largest market for epoxy adhesives
Currently, the Asia-Pacific region is the largest market for epoxy adhesives, in terms of volume. China is the largest market for epoxy adhesives in the Asia-Pacific region. However, India and Thailand are the fastest-growing markets for epoxy adhesives in the region.
The following factors are the main driving forces for the epoxy adhesives market in the Asia-Pacific region:
The increasing residential building & construction activities are driving the market in the Asia-Pacific region
Growing manufacturing activities are expected to drive the demand for epoxy adhesives in the ASEAN countries
Henkel AG & Co. KGaA (Germany), Huntsman Corporation (U.S.), 3M Company (U.S.), Ashland Inc. (U.S.), Sika A.G. (Switzerland), The Dow Chemical Company (U.S.), Lord Corporation (U.S.), Illinois Tool Works Inc. (U.S.), and Permabond LLC (U.S.), are the key players in the global epoxy adhesives market.