Monday, 25 September 2023 11:49 GMT

Epoxy Adhesive Market

(MENAFN- GlobeNewsWire - Nasdaq)

New York, Nov. 24, 2022 (GLOBE NEWSWIRE) -- announces the release of the report 'Epoxy Adhesive Market' -
The one-component category dominates the epoxy adhesive market because of the short remedial time and solvent-free character of this product. Furthermore, this kind of adhesive is perfect for assembly lines since, unlike two-component adhesives, it requires no mixing, which makes the process of usage easier and more efficient. Though, two component-based epoxy adhesives are expected to observe a high-volume requirement for building & construction applications in the coming years.
Key Findings of Epoxy Adhesive Market Report
• The building & construction industry is the largest user of epoxy adhesives, producing the highest revenue, of approximately $2.3 billion, in 2021. This is credited to the adaptability of these adhesives in construction applications.
• The increasing demand for epoxy adhesives for structural bonding applications will drive the market growth in the automotive & transport category at a CAGR of approximately 6% in the coming years.
• A lot of flexibility is offered by offline distribution channels in selecting products and assessing their quality. Additionally, the automotive and construction industries source their required capacity straight from suppliers and dealers in bulk.
• Therefore, the offline category is expected to have more than 75% share of the revenue in the epoxy adhesive market in 2030.
• APAC has the largest share in the market because of its huge automotive, construction, electronics, electrical, and semiconductor businesses. Furthermore, this kind of adhesive is widely used in construction and manufacturing activities, which will lead the regional industry to the top in the near future as well.
• The revenue share of China was the largest in the APAC market in 2021. It is the largest country in purchasing power parity, the second-largest in terms of nominal GDP, and one of the major exporters of sealants and adhesives.
Similarly, the U.S. holds the majority of the market share in North America, as the construction sector is a major contributor to the country's economy. The momentous development in the construction industry is credited for the rise in the demand for these adhesives in the country.
The stalwarts of the epoxy adhesive market are actively taking part in mergers and partnerships to fortify their presence. For example, Huntsman Corporation publicized its partnership with Azelis Americas CASE LLC, its delivery partner in the U.S.; and Azelis Canada Inc., its delivery partner in Canada, in July 2020.
Read the full report:
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