Epoxy Adhesives Market worth $9.6 billion by 2024

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%.

Increasing urbanization and growing usage of composites, plastics, and other higher strength metals in the construction industry is driving the global epoxy adhesives market. Epoxy adhesives offer the ability to adhere strongly, with exceptional mechanical & electrical insulating properties and chemical and heat resistance.

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One-component type is expected to withess the highest growth during the forecast period.

The one-component based epoxy adhesives market is estimated to grow at the highest CAGR from 2019 to 2024, 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.

Building & construction is projected to be the largest end user of epoxy adhesives.

The building & construction industry accounted for the largest share of the overall epoxy ahdesives market, in terms of volume, followed by the automotive industry. The building & construction industry started using epoxy adhesives with the increasing usage of composites, plastics, and other higher strength metals. Growing urbanization is fueling the growth of the construction sector, which is driving the epoxy adhesives market.

Epoxy adhesives market in APAC is projected to witness the highest CAGR during the forecast period.

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.

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).

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Henkel AG (Germany) and Sika AG (Switzerland) are the Kay Players in the 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), Masterbond Inc. (US), Weicon GmBH & Co. KG (Germany), Hernon Manufacturing Inc. (US), Hubei Huitian New Materials Co. Ltd. (China), Parson Adhesives Inc. (US), and Uniseal 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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Henkel AG (Germany) is one of the leading solution providers for adhesives, sealants, and functional coatings. The company has three business segments, namely, adhesive technologies, laundry & home care, and beauty care. The company manufactures epoxy adhesives under its adhesive technologies segment. Henkel offers a multitude of products to cater to the needs of different target groups: consumers, craftsmen, and industrial businesses. Henkel Adhesive Technologies is a global leader in adhesives, sealants, and functional coatings, worldwide. The complete solution of the company is organized into five technology cluster brands-LOCTITE, BONDERITE, TECHNOMELT, TEROSON, and AQUENCE. It has a strong network for distributing and manufacturing adhesives with 185 production sites in 56 countries to meet the changing demands of the market. The company continuously focuses on its organic & inorganic growth.

• In June 2019, the company invested USD 39.4 billion 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 December 2018, the company completed the acquisition of all shares of Aislantes Nacionales S.A., Santiago, Chile. 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, the company launched four new adhesives (LOCTITE HY 4090, LOCTITE HY 4080, LOCTITE HY 4070 and LOCTITE HY 4060 GY) under its LOCTITE’s structural bonding range using the patented hybrid technologies. These adhesives are expected to meet the rising demands in assembly design and maintenance repair applications.

The second-most active company in the epoxy adhesives market is Sika AG (Switzerland). It is a manufacturer and supplier of specialty chemicals with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building and motor vehicles industries. Sika has a strong customer base and a wide geographical presence. It has subsidiaries in 101 countries and 300 manufacturing facilities, globally. The company has good depth in its product portfolio. There have been significant investments by the company in terms of product innovation. It continuously focuses on organic and inorganic growth for epoxy adhesive systems to increase its presence and revenue, globally. The company has adopted growth strategies such as investment & expansion and merger & acquisitions. In 2018, it established 20 global technology centers, 37 new manufacturing plants, 11 subsidiaries, and completed 20 acquisitions, globally. These developments are expected to help the company achieve a significant share in the epoxy adhesives market. .

• In March 2018, Sika introduced SikaPower-4508, a one-component heat curing epoxy adhesive based on flexibilized epoxy resin to the US market.
• n September 2016, Sika opened a factory for adhesives and acoustic products in Brazil. This expansion helped the company to tap into the potential of the automotive sector in Latin America by providing products which help in the manufacturing of stronger, safer, and low noise vehicles.

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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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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.

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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.
• 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).

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Building & construction is projected to be the largest end user of epoxy adhesives

The building & construction industry accounted for the largest share of the overall epoxy ahdesives market, in terms of volume, followed by the automotive industry. The building & construction industry started using epoxy adhesives with the increasing usage of composites, plastics, and other higher strength metals. Growing urbanization is fueling the growth of the construction sector, which is driving the 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%. Increasing urbanization and growing usage of composites, plastics, and other higher strength metals in the construction industry is driving the global epoxy adhesives market. Epoxy adhesives offer the ability to adhere strongly, with exceptional mechanical & electrical insulating properties and chemical and heat resistance.

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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.

The epoxy adhesives market in the APAC region is projected to grow at the highest CAGR. The building and construction industry is contributing to the growing demand for epoxy adhesives in the region.The region is witnessing rapid urbanization and there is increasing government and private-sector investments in infrastructure development. This will boost the building & construction industry in countries such as India and China, which will fuel the demand for epoxy adhesives in the APAC region during the forecast period.

Get in-depth analysis of how COVID-19 is impacting the Epoxy Adhesives Market. Benchmarking the rapid strategy shifts of the Top 100 companies in the Epoxy Adhesives Market

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Expansions, new product launches, and partnerships were the key strategies adopted by industry players to achieve growth in the epoxy adhesives market

Expansions, new product launches, and partnerships were the key strategies adopted by industry players to achieve growth in the epoxy adhesives market between 2012 and 2016. The increasing demand for light weight vehicles, wind energy, and the shift in the construction business towards the construction of multi-storied buildings which use epoxy adhesives in glazing and panels, is leading to the rise in demand. Companies have adopted strategies such as, new product launches, expansions, and mergers & acquisitions to fulfill the growing demand. Some of the key players, such as 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.), have adopted these strategies to strengthen their businesses, globally.

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Henkel AG & Co. KGaA is a major player in the global epoxy adhesives market. The company’s wide range of business segments provides an added advantage to the company’s profit margin, which enables the company to compensate the loss from low performing business segments and invest in strategic expansions and R&D activities. The adhesive technology business segment of the company accounted for 50% of its total revenue in 2015. The company follows the capacity expansions strategy to support the growing demand, improve product cost competitiveness, and the product portfolio by investing in R&D activities in new applications to cater to the market. Recently in October 2016, the company launched Loctite EA 9452, a new high-performance 2-part epoxy adhesive. This product launch helped the company in entering into the filtration industry.  

3M Company is another major player in the global epoxy adhesives market. North America accounted for 64% of the overall company revenue. The industrial and consumer business segment of the company manufactures adhesives & sealant products for various applications. These business segments together earned about 47% of its total revenue in 2015. The company’s business strategy mainly revolves around its targets for increasing its global footprint, increasing revenues, and launching innovative solutions through its products. As a part of its growth strategy, the company plans to establish new production facilities and expand its existing plant capacities which would enable the company to strengthen its position in the high growth epoxy adhesives market. In September 2012, 3M expanded its epoxy adhesives product line by adding the Scotch Weld EPX DP810, and DP110 products. These products provide long-term reliability for heavy-duty applications including aerospace, appliances, sporting goods, and electronics.

Apart from the above mentioned market players, H.B. Fuller (U.S.), MasterBond (U.S.), Royal Adhesives & Sealants (U.S.), and Threebond Co. Ltd. (Japan), are the other important players in this market.