5 Latest Developments In Epoxy Adhesives Market

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% between 2019 and 2024. Increasing urbanization growing usage of composites, plastics, and other higher strength metals in the construction industry are driving the global epoxy adhesives market. Epoxy adhesives are used in various applications due totheir exceptional bonding and mechanical & electrical insulating properties and resistance to chemicals andheat.

The key epoxy adhesive market players are 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), Huntsman Corporation (US), Mapie S.p.A. (Italy), Panacol-Elosol GmBH (Germany), Permabond LLC. (UK), Delo Industrie Klebstoffe GmBH & Co. KGAA (Germany), and Masterbond Inc. (US). These players have adopted growth strategies, such as new product development, merger & acquisition, and investment & expansion, to expand their geographical presence and broaden their product portfolio.

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Recent Developments

• 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.
• In April 2019, Henkel opened a new OEM application center in Connecticut to deliver innovative solutions and design customized applications, technologies, and production processes to better serve its customers.
• 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.
• Henkel completed the acquisition of all shares of Aislantes Nacionales S.A., Santiago, Chile in December 2018. Following this acquisition, Henkel is now active in the attractive Chilean market for tile adhesives and building materials where it occupies a strong position.
• In July 2018, Henkel added four new epoxy adhesives in its LOCTITE’s bonding range – LOCTITE HY 4090, LOCTITE HY 4080, LOCTITE HY 4070, and LOCTITE HY 4060 GY, using the patented hybrid technologies. These adhesives are expected to meet the rising demands in assembly design and maintenance repair applications.
• Sika introduced SikaPower-4508, a one-component heat curing epoxy adhesive based on flexibilized epoxy resin to the US market in March 2018.

APAC is projected to be the fastest-growing epoxy adhesives market during the forecast period. China is the largest market for epoxy adhesives in the region. However, India and Thailand are the fastest-growing markets for epoxy adhesives in the region. Owing to increased government investments in developing countries for infrastructure, such as public utilities, commercial, and entertainment structures, and housing demands to cater to the steadily-growing population, the demand for epoxy adhesives in this region is expected to growth significantly.

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