The global epoxy adhesives market is expected to reach $11.6 billion by 2026, according to a recent study by Polaris Market Research. Epoxy is increasingly being used as a structural adhesive across diverse industries. These adhesives offer high shear strength while bonding efficiently to a wide range of substrates, including wood, glass, and metal. They also provide minimal shrinkage, superior thermal and chemical resistance, and cohesive strength.
Epoxy adhesives can be altered and modified to deliver a wide range of properties and offer customized solutions. For example, toughened epoxy adhesives are used in the automotive, construction, and aerospace industries due to the need for greater strength and chemical resistance.
Epoxy adhesives are available in one- and two-component formulations. The demand for one-component epoxy adhesives is expected to increase significantly from 2020-2026. One-component epoxy adhesives are cured at temperatures between 250-300°F and offer superior adhesion properties, high strength, and greater environmental and chemical resistance. They are usually applied through trowel or extrusion by beads and are capable of efficiently filling and sealing gaps between surfaces.
Epoxy adhesives are used in diverse industries such as defense and aerospace, construction, automotive, energy and power, marine, electrical and electronics, and others. The construction segment accounted for the highest share in 2019.
The energy and power segment is expected to grow at a significant rate from 2020-2026. Increasing environmental awareness and government initiatives are encouraging consumers to turn toward solar, wind, hydropower, and fuel cells. The use of epoxy adhesives enables these renewable systems to withstand harsh environments, extreme temperatures, chemical abrasion, and mechanical stresses.
Growth in Asia-Pacific
The Asia-Pacific region dominated the global market in 2019 and is expected to maintain its leadership to 2026 (see Figure 1). Rising growth in industrial applications, urbanization, and the automotive sector supports demand for epoxy adhesives in the region, while increasing applications in the construction, defense and aerospace, and marine industries further increase opportunities for market expansion.
Figure 1. Epoxy adhesives market by region, 2015-2026.
Rising demand for miniaturized and high-performing electronics, along with increasing awareness regarding the adoption of electric vehicles, fuels growth in this region. Leading global players are expanding their presence in the developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
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