The Asia-Pacific Epoxy Adhesive Market is projected to register a CAGR of 6.77%
- Largest Segment by End User Industry - Automotive: Automotive is the dominant end-user industry in the market owing to the wide range of applications for structural bonding and assembly operations.
- Largest Segment by Technology - Reactive: Reactive is the largest technology type in the market owing to its wide range of applications across major end-user industries, including automotive, woodworking and joinery, and building and construction.
- Largest Segment by Country - China: China holds the highest share in the Asia-Pacific epoxy adhesives market owing to the strong presence of manufacturers in the country's automotive, woodworking and joinery, and building and construction industries.
- Fastest-growing Segment by Country - India: Due to the increasing population and rapid urbanization, India is likely to be the fastest-growing country in the market during the forecast period.
Key Market Trends
Automotive is the largest segment by End User Industry.
- Epoxy adhesives are thermosetting resins that demonstrate high strength and low shrinkage during curing. These adhesives are tough and resistant to chemicals and environmental damage. Epoxy adhesives offer excellent adhesion to various substrates, superior resistance solvents, and good electrical insulation. In addition, epoxy adhesives offer high hardness to the bond, which is more than 80 shore.
- The consumption of epoxy adhesives shrunk by 9.66% in 2020 compared to 2019, mainly due to the impact of the COVID-19 pandemic in many countries, including China, India, Japan, and South Korea. Production stopped in most countries due to nationwide lockdowns, supply chain disruptions, and economic slowdowns, which resulted in a decline in the consumption of epoxy adhesives. In 2021, the economic recovery in the countries caused a rise in the production of epoxy adhesives, which registered a growth of 36.8 million in volume.
- China is the major market for epoxy adhesives in the region, followed by Japan and India. China's demand for epoxy adhesives was nearly USD 1.2 billion in 2021. Automotive and construction are the major end-user industries that use epoxy adhesives for different applications.
- Automotive is the region's largest consumer industry for epoxy adhesives, owing to the rising vehicle production in the country. Epoxy adhesive is mainly used in structural applications and offers the highest tensile strength, around 35-41 N/mm², among all other resin-based adhesives to bond metal, glass, and plastic. It is expected that vehicle production will reach 66 million units in the region in 2028 from 47.9 million units in 2021. Rising vehicle production is expected to drive the demand for epoxy adhesives over the coming years.
China is the largest segment by Country.
- When evaluating the efficiency of an epoxy adhesive, it is beneficial to examine the general composition of the chemicals that comprise it. Polymerization of a mixture of two initial components, the resin and the hardener, produces epoxy. Curing begins when the resin is combined with a specific catalyst. Epoxy adhesives stick to a wide range of materials, and their qualities are determined by the system's chemistry and the type of cross-linking available. Exceptional chemical and heat resistance, great adhesion and water resistance, and satisfactory mechanical and electrical insulating qualities are among the most significant performance parameters.
- Epoxy adhesives, the most generally used structural type adhesive, are commonly available as one-component or two-component systems. One-component epoxy adhesives are typically cured at temperatures ranging from 250 to 300°F, resulting in a product with great strength, strong adherence to metals, and exceptional environmental and harsh chemical resistance.
- Across all the end-use sectors, automotive is the leading consumer of epoxy globally, holding a share of about 35.7%, followed by building and construction, healthcare, woodworking, and aerospace, with shares of approximately 19.4%, 6.3%, 4.7%, and 2.1%, respectively. The other end-use industries hold about 31.1%%. Across the automotive industry, the rising adoption of sustainability is expected to increase EV production across the Asia-Pacific region. Owing to this reason, emerging nations are moving toward limiting the consumption of conventional energy in the automotive industry. The factor tends to increase the demand for electronic components for vehicles and, thus, boost the consumption of epoxy adhesives across the region.
Competitive LandscapeThe Asia-Pacific Epoxy Adhesive Market is fragmented, with the top five companies occupying 26.46%. The major players in this market are 3M, H.B. Fuller Company, Henkel AG & Co. KGaA, Hubei Huitian New Materials Co. Ltd and Sika AG (sorted alphabetically).
- The market estimate (ME) sheet in Excel format
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Table of Contents1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 End User Trends
4.2 Regulatory Framework
4.3 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION
5.1 End User Industry
5.1.3 Building And Construction
5.1.4 Footwear And Leather
5.1.7 Woodworking And Joinery
5.1.8 Other End-user Industries
5.2.3 UV Cured Adhesives
5.3.8 South Korea
5.3.10 Rest Of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.2 Arkema Group
6.4.3 H.B. Fuller Company
6.4.4 Henkel AG & Co. KGaA
6.4.5 Hubei Huitian New Materials Co. Ltd
6.4.6 Huntsman International LLC
6.4.7 Kangda New Materials (Group) Co., Ltd.
6.4.8 NANPAO RESINS CHEMICAL GROUP
6.4.9 Pidilite Industries Ltd.
6.4.10 Sika AG
7 KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
8.1 Global Adhesives and Sealants Industry Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Drivers, Restraints, and Opportunities
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
A selection of companies mentioned in this report includes:
- Arkema Group
- H.B. Fuller Company
- Henkel AG & Co. KGaA
- Hubei Huitian New Materials Co. Ltd
- Huntsman International LLC
- Kangda New Materials (Group) Co., Ltd.
- NANPAO RESINS CHEMICAL GROUP
- Pidilite Industries Ltd.
- Sika AG