Epoxy Adhesives Market to be Dominated by Electrical & Electronics Industry Through 2028
Growing demand from the electrical &
electronics Industry is expected to drive the Epoxy Adhesives market in the
forecast period 2024-2028
According to TechSci Research
report, “Epoxy Adhesives Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, The Global Epoxy
Adhesives Market is anticipated to upsurge at an impressive rate in the
forecast period 2024-2028. A significant factor
fueling the growth of Global Epoxy Adhesives Market is increasing demand from electrical
& electronic industries due to its high thermal and electrically conductive
properties. Electrically conductive epoxy adhesives provide strong components
and interconnections to gain long-term and reliable performance from
electronics. This is anticipated to fuel product demand in the electrical &
electronics industry across the forecast period. For instance, in February 2021,
Henkel expanded its strategic partnership with Quad Industries to ramp up its
sales figures. The
need for the expansion of the Epoxy Adhesives market will be fueled by the automotive
& transportation segment due to adhering properties with a variety of
substrates and offering strong bonds, which makes them applicable in vehicles. Moreover,
developing electric vehicle industry is also expected to amplify the demand
from the automotive application segment. Various governments in developing
countries are promoting the use of electric vehicles due to the environmental
concerns regarding air pollution coupled with the increasing need for
lightweight vehicles. Numerous variables including the requirement for newer
aircraft designs will result in the extensive use of adhesives in the aerospace
industry and increasing demand for new aircraft for both commercial &
military usage will drive market.
Additionally, epoxy adhesives
are frequently used in construction for concrete repair and anchoring. To
improve the strength of adhesion with wooden surfaces in structures, they are
also employed in woodworking and carpentry applications. Epoxy adhesives are
frequently used to attach prefabricated elements in public infrastructure, such
as bridges. Moreover, they are utilized in the bonding of carbon laminates for
columns and slabs as well as steel reinforcing components. Other uses for epoxy
adhesives include attaching the ends of concrete or metal pipes for sewage
systems and anchoring bolts and steel bars in concrete which led to the growth
of market.
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Moreover, demand in the
wind energy sector is rising as a result of ongoing developments in the design
of wind turbine blades and other parts which result in increasing demand for
epoxy adhesives. The blade is currently being developed to become higher and
lighter. The preparation of turbine blades mostly uses epoxy adhesives since
they are the greatest option for the adherence of blade pieces. The Epoxy
Adhesives Market is anticipated to grow quickly in the coming years due to the
rising usage of renewable energy sources and the development of wind turbines.
Furthermore, the market is
being further stimulated by the extensive use of Epoxy Adhesives in marine,
semiconductors and power & energy.
However, volatility in
the raw material cost can slow down the market growth. Also, the harmfulness
of adhesives causes a possible threat to producers that can further slow-down
the market growth.
Global Epoxy
Adhesives Market is segmented based on type, end use industry, and region.
Based on type, the
market is categorized into one-component, two-component, and others. One-Component
is expected to hold the largest market share in the forecast period, 2024-2028.
One-Component is utilized in various applications due to their
superior properties such as quick-curing time and solvent-free composition.
Based on end use industry, the market is segmented into automotive & transportation,
building & construction, power & energy, and others. The automotive &
transportation segment will experience the highest market share during the
forecast period. This can be attributed to the demand for lightweight vehicle
parts that help in minimizing carbon emissions during production.
Major
companies operating in the global Epoxy Adhesives market are:
- Henkel AG & Co. KGAA
- 3M Co.
- Sika AG
- H.B. Fuller Company
- Master Bond Inc.
- Robert McKeown Company, Inc.
- APCM, LLC.
- Arkema S.A.
- Nan Pao Resins Chemical Co Ltd
- Solvay S.A.
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“Asia Pacific region is
expected to grow at the highest rate during the forecast period. Rapid
economic growth and a subsequent increase in the demand for residential housing
and solar installations are expected to benefit the demand for epoxy adhesives
in the region. Additionally, Europe, focuses on
reducing CO2 emissions by the implementation of Euro 6d emission
standards in creating a strong growth potential for lightweight materials in
the region increasing demand for epoxy adhesives,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Epoxy Adhesives Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,
Segmented By Type (One-Component, Two-Component, Others), By End Use Industry
(Automotive & Transportation, Building & Construction, Power &
Energy, Others), By Region and Competition, has evaluated the future growth
potential of global Epoxy Adhesives market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global Epoxy Adhesives market.”
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