The global epoxy adhesives market is showcasing strong growth on account of the rising demand and growing developments in the market. Key factors attributed to such growth include improved living standards and growing usage of composites and plastics in the construction industry.
Epoxy adhesives are high strength adhesives, which are widely used across various industries. They are made up of epoxy resins, which are made up of chemical bisphenol. Epoxy adhesives can be used for adhesion of many substrates such as wood, metals, plastics, glass and stones. These adhesives are capable of reacting strongly with the mechanical and electrical insulating properties, and chemical and heat resistance.
The global epoxy adhesives market has been segmented by type, application and region. On the basis of type, the global epoxy adhesives market has been segmented into one component, two component and others. One component is expected to be the fastest growing segment in the global epoxy adhesives market due to its superior properties such as quick curing time, solvent free, and consumer friendly usage; however, the two component-based epoxy adhesives is expected to witness high demand from the building and construction application.
On the basis of application, the global epoxy adhesives market has been segmented into building and construction, transportation, wind energy, electrical and electronics, automotive, marine and others. The increasing construction of buildings, malls, airports, and railway stations are the major drivers of the global epoxy adhesives market. Additionally, growing urbanization is driving the building and construction market in the ASEAN countries, which in turn is expected to further enhance the consumption of epoxy adhesives, during the forecast period (2016-2022).
Geographically, the global epoxy adhesives market has been segmented into North America, Europe and Asia-Pacific. The Asia-Pacific region is expected to witness the highest growth in the global epoxy adhesives market, due to increased population and the growing demand for residential buildings. The rising demand for high quality epoxy adhesive products with superior prolonged chemical and heat resistance properties and electrical insulating characteristics have resulted in the overall growth of the market. Additionally, the building and construction application is contributing to the growing demand for epoxy adhesives in the Asia-Pacific region.
The growth of the global epoxy adhesives market is hindered by environmental regulations prevailing in the European countries. Under the European environmental law, there are more than 500 directives, regulations, and decisions related to an eco-friendly and green environment. The major environmental acts include Planning and Development Act 2000, Protection of the Environment Act 2003, and Environmental Protection Agency Act 1992.
The key players operating in the global epoxy adhesives market include Henkel AG & Co. KGaA, 3M Company, Sika A.G., Ashland Inc., The Dow Chemical Company, Lord Corporation, Huntsman Corporation, Illinois Tool Works Inc., and Permabond LLC.