Epoxy Glue to Witness a CAGR of Around 5%
According to latest research by Fact.MR, epoxy glue is set to witness high growth during 2021-2031. Demand for epoxy glue will witness steady growth in forecast period (2021 – 2031). Globally growing use of plastic and other heavy metals in construction projects have been triggering the epoxy glue sales.
What is Driving Demand for Epoxy Glue?
Continuously increasing urbanization in developing countries has put huge impact on construction industry. With growing construction industry in developing countries, demand for plastic, heavy metal, wood, glass, and other components has shown at a significant pace, which is one of the key factors driving demand for epoxy glue.
Apart from this, epoxy glue plays a vital role in aerospace, automobile and semiconductor industry. Aerospace and automobile dominates the market of epoxy glue, as they are important for the attachment of aircraft parts and blades. Various advantages of epoxy glue include ability to not lose adhesives in different condition like change in temperature and pressure.
Rising small and medium enterprises in automobile and electronic industry is expected to keep the growth of epoxy glue market steady, due to increase in use of epoxy glue.
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Slowdown in End User Industries Likely to Affect Epoxy Glue Sales
Automobile, electronic and aerospace industries are three of the sectors badly impacted by Covid-19. Epoxy glue being significantly dependent on aerospace, automobile and electronics industry, the demand has been severely impacted amid crisis. Manufacturers are facing issues in procurement of raw materials like chemicals from others countries due to the trade restrictions between countries, while companies are also facing issues in delivering their products to international clients. The shortage of raw material has forced companies to start looking for local opportunities for procuring the raw materials.
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Asia Pacific Leads the Global Epoxy Glue Sales
Asia Pacific is the largest market for epoxy glue. Asia Pacific holds more than 30% share of global epoxy glue. The demand in Asia Pacific is expected to grow at rapid pace in forecasted period (2021 – 2031), as number of activities will be increasing in end use industry.
Demand for epoxy glue in Asia Pacific is followed by rising electronic industry and aerospace industry. Growing electronic and aerospace industry in countries like China, India, South Korea and Japan will boost the requirement for strong adhesion, which in turn is expected to benefit epoxy glue growth globally.
Indian government has launched Make in India initiative to support the local manufacturing companies including aerospace sector. For instance, in 2018, Government of India formed a high level task force to execute the plan of manufacturing helicopters, civilian aircraft and other aviation equipment. It will allow aircraft makers to manufacture in the country. Apart from this, it will promote India as a global manufacturing hub and investment hub, creating scope for application of epoxy glue in its aerospace activity over the coming years.
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North America Demand Outlook for Epoxy Glue
North America is the second largest market for epoxy glue, followed by Europe. North America has seen steady growth in epoxy glue market in past few years. Since most of the aircraft manufacturers are headquartered in United States including Boeing, Airbus, Lockheed Martin Corporation, GE Aviation, United Technologies Corporation, and Raytheon Company, the sales of epoxy glue is significantly larger as compared to other countries. Apart from this, US also contributes a significant percentage of exporting aircrafts to other nation. In 2019, US generated approximately US$ 130 Bn by exporting aircrafts, due to which it has become a prominent market for epoxy glue.
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Who are the Key Manufacturers and Suppliers of Epoxy Glue?
Some of the leading manufacturers of epoxy glue include
- The Gorilla Glue Company
- 3M Company
- MG Chemcials
- Chang Chun Group
- Nan Ya Plastics Corporation
- Jiangxi Tengde Industrial Co. Ltd.
- Shenzhen Zhengdasheng Chemical Co. Ltd.
- SHENZHEN MEITAIBANG CHEMICAL CO. LTD.
- SHENZHEN TIANMAXUN TECHNOLOGY CO.LTD.
- Foshan Xinboqiao Electronic Co. Ltd.
- Shanghai Wenyou Industry Co. Ltd.
- Kater Adhesives Industrial Co. Ltd.
- Shenzhen Jinhua Electronic Materials Co. Ltd.
- ZANSHARE GROUP (ZHEJIANG) CO. LTD.
- Kaneka Corporation
- Diamond Electric Mfg. Co. Ltd.
- Dic Corporation
- Shikoku Chemicals Corporation
- Senko Sangyo Co. Ltd.
Epoxy glue Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
Based on Product Type, Epoxy glue is segmented into:
Based on Application Outlook, Epoxy glue is segmented into:
- Circuit Board
- Doors & windows
- Housing components
Based on End User Type, Epoxy glue is segmented into:
- Aerospace and Defense
- Electrical and Electronics
- Energy and Power
- Other End Users
Based on Sales Channel Type, Epoxy glue is segmented into:
- Retail Sale
- Distributor Sale
- Direct Sale
Based on Region, Epoxy glue is segmented into:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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