Wind energy is expected to be the fastest-growing end-use industry of 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%. Epoxy adhesives are used in various applications due to their exceptional bonding and mechanical & electrical insulating properties and resistance to chemicals and heat.

Based on end-use industry, the epoxy adhesives market has been segmented into building & construction, transportation, marine, automotive, wind energy, electrical & electronics, and others. The market in the wind energy industry is projected to grow at the highest CAGR, in terms of value, during the forecast period. This high growth is owed to the continuous improvements in the structure of blades and other wind turbine components. There are developments going on for making the blade lighter and taller. Epoxy adhesives are the best solution for adhesion of blade parts and are dominantly used in the preparation of turbine blades. The increasing use of renewable energy and installation of windmills is expected to drive the epoxy adhesives market in the near future.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=142980020

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.
• 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.
• Sika introduced SikaPower-4508, a one-component heat curing epoxy adhesive based on flexibilized epoxy resin to the US market in March 2018.

The global epoxy adhesives market is segmented on the basis of region as APAC, Europe, North America, South America, and the Middle East & Africa. 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.

The major players in the epoxy adhesives market include 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), and Huntsman Corporation (US).

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=142980020

Attractive Opportunities in the Flock Adhesives Market

Flock Adhesives Market size is projected to grow from USD 2.22 Billion in 2016 to USD 3.18 Billion by 2022, at a CAGR of 6.3% in terms of value. Factors driving the growing use of flock adhesives are the application expansion achieved through the improved quality of flock adhesives and increased demand for coated fabrics and luxury products. Growth in applications, especially in the emerging markets of Asia Pacific, and the shift in consumer preference toward high-quality and decorative products are driving the growth of the flock adhesives market.

Download PDF to know more @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=240810348

The flock adhesives market has been segmented on the basis of resin type, application, and region. Among resin types, the acrylics segment is projected to grow at the highest CAGR in the flock adhesives market during the forecast period. This is due to their increasing use in metal and plastic substrates, mainly in automotive applications. Acrylic-based adhesives provide a durable and water-resistant film when bonded to substrates such as plastics, metals, fabrics, carpet, ceramics, concrete, and wood composites. Acrylic-based adhesives are also used due to their adaptability to different substrates. These adhesives can also be used for sealing the edges of wood composite boards before water-based coatings or paints are applied.

The polyurethane segment is projected to lead the flock adhesives market during the forecast period from 2017 to 2022.

In terms of value, the polyurethane segment is projected to lead the flock adhesives market during the forecast period. The growth of the polyurethane-based adhesives segment is supported by various factors, including the high elongation and stronger bonding properties. These are used in bonding windscreens and side and rear windows of passenger cars, trucks, and special vehicles. They are also used for bonding fiberglass reinforced plastic elements, such as roof, side, and frontal panels. These also have an edge over silicone products as they can be easily painted, and offer a fissure-free coated surface for a long period of time.

Volatility in raw material costs poses a risk for flock adhesives manufacturers and is expected to bring down the profit margins. The flock adhesives market is also affected by the high transport costs driven by the rising fuel prices and high manufacturing costs resulting from the increasing energy costs.

Henkel (Germany), H.B. Fuller (US), Sika AG (Switzerland), Dow Chemical (US), and Kissel + Wolf (Germany), among others, are the leading companies operating in the flock adhesives market. These companies are expected to account for significant shares of the flock adhesives market in the near future.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst