Global Epoxy Adhesives Market: Overview
Epoxy adhesive is a high strength adhesive largely used in numerous end-use industries. It is made up of epoxy resins and is used on various substrates such as plastics, wood, stones, metals and glass. The epoxy adhesive takes the time to set after application; they can be set fast with the help of heat or exposure to ultraviolet light. Epoxy adhesive is cured by exposing it to the ultraviolet light and then they are used in the manufacturing of optics and optoelectronics. They are the most commonly used structural adhesives owing to its strong adhesion property.
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Global Epoxy Adhesives Market: Growth Factors
Epoxy adhesives are broadly used in automotive, semiconductor, building & construction and aerospace industry. Aerospace and semiconductor industries are highly consuming epoxy adhesives thus driving the market growth. In the aerospace industry, the blades of the aircraft are connected by using epoxy adhesives. The epoxy adhesives possess properties such as temperature and pressure variations and resistance to creep under sustained load hence it is widely used in aerospace industry. In the semiconductor industry, epoxy adhesives are used for manufacturing of integrated circuits and transistors and printed circuit boards. The increase in the industries that consume epoxy adhesives has grown considerably thus fueling the market growth. In addition, advanced technology is used to make adhesives safer for humans which in turn opens up new growth opportunities. Conversely, toxic fumes are emitted during the application of epoxy adhesives which restrains the global epoxy adhesives market growth to some extent.
Global Epoxy Adhesives Market: Segmentation
The global epoxy adhesives market is fragmented based on its application which includes transportation, automotive, building & construction, marine, electrical & electronics, semiconductor, wind energy and others. Of these, aerospace is the major consumer of epoxy adhesives and the semiconductor industry is the second largest consumer of the epoxy adhesives across the globe. Based on the type, the global market is segregated as two-component, one-component and others. One component epoxies have excellent adhesion to metals and it is used as alternatives to riveting and welding. They require cold storage in order to provide sufficient shelf life. It is also used in assembling rotor blades and of aircraft panels.
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Global Epoxy Adhesives Market: Regional Analysis
Asia-Pacific has contributed for the largest market share across the world. Aerospace and semiconductor industry in the Asia-Pacific is a major consumer of epoxy adhesives. Moreover, North America is experiencing significant growth in coming years. South Korea and Japan are expected to be another manufacturing hub for epoxy resins. The epoxy adhesives market is anticipated to grow in Europe in the next few years. Furthermore, the Middle East and Latin American regions are expected to show steady growth owing to its high demand from the building & construction industry.
Global Epoxy Adhesives Market: Competitive Players
Major companies operating in the global epoxy adhesives market are Masterbond, Permabond, MG Chemcials, Powerblanket, Henkel, Epotek, The Gorilla Glue Company, 5M, 3M, MAPEI and Ardex.
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Global Epoxy Adhesives Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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