Asia-Pacific Epoxy Adhesive Market Size
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 2.59 Billion |
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Market Size (2028) | USD 3.31 Billion |
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Largest Share by End User Industry | Automotive |
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CAGR (2024 - 2028) | 6.31 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Epoxy Adhesive Market Analysis
The Asia-Pacific Epoxy Adhesive Market size is estimated at 2.59 billion USD in 2024, and is expected to reach 3.31 billion USD by 2028, growing at a CAGR of 6.31% during the forecast period (2024-2028).
2.59 Billion
Market Size in 2024 (USD)
3.31 Billion
Market Size in 2028 (USD)
4.86 %
CAGR (2017-2023)
6.31 %
CAGR (2024-2028)
Largest Market by End-user Industry
30.93 %
value share, Automotive, 2023
Automotive is the dominant end-user industry in the market owing to the wide range of applications for structural bonding and assembly operations.
Largest Market by Technology
63.82 %
value share, Reactive, 2023
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 Market by Country
57.15 %
value share, China, 2023
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 Market by Country
6.85 %
Projected CAGR, India, 2024-2028
Due to the increasing population and rapid urbanization, India is likely to be the fastest-growing country in the market during the forecast period.
Leading Market Player
9.15 %
market share, Henkel AG & Co. KGaA, 2021
Henkel is the leading epoxy adhesives manufacturer in the Asia-Pacific region. This can be attributed to the popularity of its products in widespread industries, including building and construction, automotive, aerospace, and woodworking.
Increasing vehicle production which is expected to reach 66 million units by 2028 in the region is likely to drive the demand for epoxy adhesives
- 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.
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Increasing demand for electronic components for vehicles is likely to boost the demand for epoxy adhesives
- 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.
Asia-Pacific Epoxy Adhesive Market Trends
Increasing adoption of electric vehicles to drive the industry
- The Asia-Pacific automotive industry is one of the leading industries in the market, as the sales of automotive vehicles are largely increasing. Among all the countries, China is the largest automotive producer, accounting for about 57% of the regional production, followed by Japan with 17%, India with 10%, and South Korea with 8%.
- Vehicle sales in the region have majorly declined along with production, owing to which the utilization of adhesives has been impacted. While the Y-o-Y variation in 2017-18 was -1.8%, it fell further by -6.4% in 2018-19. In 2019-20, regional production was again impacted negatively and recorded a -10.2% decline from the previous year due to the COVID-19 pandemic. The shutdown of manufacturing facilities and the shortage of vehicle components due to disruptions in the supply chain constrained the production level. However, in 2021, the demand for automobiles rose again and is expected to continue, thereby increasing the utilization of adhesives across the region over the forecast period.
- The EV market in Asia-Pacific offers another opportunity for the adhesives market to grow. The rising production and adoption of EVs and hybrid vehicles are boosting the usage of adhesives for electronic component assembly in vehicles. China is the largest producer of EVs globally as well as across the region. From 2016 to 2021, the volume of commercial electric vehicles increased from 562,603 to 1,116,382 units, recording a growth rate of about 98%. These factors are expected to increase the demand for adhesives and result in the higher market growth over the forecast period.
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Raising investment to expand infrastructural activities will augment the industry size
- Asia-Pacific is driven by the world's major economies, such as China, Japan, and India. China is promoting and undergoing a process of continuous urbanization, with a target rate of 70% for 2030. The increased living spaces required in the urban areas resulting from increasing urbanization and the desire of middle-income urban residents to improve their living conditions may impact the housing market and, thereby, increase the residential constructions in the country.
- Non-residential infrastructure is likely to expand significantly. The Chinese government approved 26 infrastructure projects worth approximately USD 142 billion in 2019, with completion due in 2023. The country has the largest construction market globally, accounting for 20% of all worldwide construction investments. By 2030, the government plans to spend over USD 13 trillion on construction. Thus, the construction market is expected to register a 4.48% CAGR during the forecast period (2022-2028).
- The construction industry is one of the largest industries in Asia-Pacific and recorded promising growth in 2019. The industry continues to grow as the region constitutes many developing countries such as Vietnam, Malaysia, Indonesia, Thailand, and other South Asian countries. However, due to the COVID-19 pandemic, the construction sector witnessed a significant decline owing to lockdowns by governments across the region, which severely affected developing countries, including India, China, Japan, and ASEAN countries.
- The Asia-Pacific region is also witnessing significant interest from international investors in the construction space. Foreign Direct Investment (FDI) in the construction development sector is increasing as developing countries provide better returns and opportunities for investors.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Rapid growth of civil aviation will propel the aerospace industry
- Fast paced growth of e-commerce industry in developing nations to augment the industry
- Large concentration of footwear exporters in the Asia-Pacific region will facilitate the industry growth
- High presence of furniture manufacturers in the Asia-Pacific region will propel the industry
Asia-Pacific Epoxy Adhesive Industry Overview
The Asia-Pacific Epoxy Adhesive Market is fragmented, with the top five companies occupying 22.42%. 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).
Asia-Pacific Epoxy Adhesive Market Leaders
3M
H.B. Fuller Company
Henkel AG & Co. KGaA
Hubei Huitian New Materials Co. Ltd
Sika AG
Other important companies include Arkema Group, Huntsman International LLC, Kangda New Materials (Group) Co., Ltd., NANPAO RESINS CHEMICAL GROUP, Pidilite Industries Ltd..
*Disclaimer: Major Players sorted in alphabetical order.
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Asia-Pacific Epoxy Adhesive Market News
- December 2021: Sika planned to establish a new technology center and manufacturing factory for high-quality adhesives and sealants in Pune, India. The company primarily manufactures products for the transportation and construction industries through its three new production lines.
- July 2021: H.B. Fuller announced a strategic agreement with Covestro to offer sustainable adhesives in the market.
- June 2021: H.B. Fuller signed a distribution agreement with Jubilant Agri and Consumer Products to promote its adhesive solutions in the Indian woodworking segment.
Free with this Report
We provide a complimentary and exhaustive set of data points on global and regional metrics that present the fundamental structure of the industry. Presented in the form of 24+ free charts, the section covers rare data on various end-user production trends including automobile production, newly built construction floor area, packaging production, aircraft deliveries, footwear production, and regional data on adhesives and sealants demand, etc.
Asia-Pacific Epoxy Adhesive Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 End User Trends
- 4.1.1 Aerospace
- 4.1.2 Automotive
- 4.1.3 Building and Construction
- 4.1.4 Footwear and Leather
- 4.1.5 Packaging
- 4.1.6 Woodworking and Joinery
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4.2 Regulatory Framework
- 4.2.1 Australia
- 4.2.2 China
- 4.2.3 India
- 4.2.4 Indonesia
- 4.2.5 Japan
- 4.2.6 Malaysia
- 4.2.7 Singapore
- 4.2.8 South Korea
- 4.2.9 Thailand
- 4.3 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
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5.1 End User Industry
- 5.1.1 Aerospace
- 5.1.2 Automotive
- 5.1.3 Building and Construction
- 5.1.4 Footwear and Leather
- 5.1.5 Healthcare
- 5.1.6 Packaging
- 5.1.7 Woodworking and Joinery
- 5.1.8 Other End-user Industries
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5.2 Technology
- 5.2.1 Reactive
- 5.2.2 Solvent-borne
- 5.2.3 UV Cured Adhesives
- 5.2.4 Water-borne
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5.3 Country
- 5.3.1 Australia
- 5.3.2 China
- 5.3.3 India
- 5.3.4 Indonesia
- 5.3.5 Japan
- 5.3.6 Malaysia
- 5.3.7 Singapore
- 5.3.8 South Korea
- 5.3.9 Thailand
- 5.3.10 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and Analysis of Recent Developments).
- 6.4.1 3M
- 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. APPENDIX
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8.1 Global Adhesives and Sealants Industry Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework (Industry Attractiveness Analysis)
- 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
List of Tables & Figures
- Figure 1:
- VOLUME OF AIRCRAFTS DELIVERED, UNITS, ASIA-PACIFIC, 2017-2028
- Figure 2:
- PRODUCTION VOLUME OF AUTOMOBILES, UNITS, ASIA-PACIFIC, 2017-2028
- Figure 3:
- FLOOR AREA OF NEW CONSTRUCTION, SQUARE FEET, ASIA-PACIFIC, 2017-2028
- Figure 4:
- PRODUCTION VOLUME OF FOOTWEAR, PAIRS, ASIA-PACIFIC, 2017-2028
- Figure 5:
- PRODUCTION VOLUME OF PAPER & PAPER BOARD AND PLASTIC PACKAGING, TONS, ASIA-PACIFIC, 2017-2028
- Figure 6:
- PRODUCTION VOLUME OF FURNITURE, UNITS, ASIA-PACIFIC, 2017-2028
- Figure 7:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 8:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 9:
- VOLUME OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 10:
- VALUE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 11:
- VOLUME SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 12:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 13:
- VOLUME OF EPOXY ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 14:
- VALUE OF EPOXY ADHESIVES CONSUMED IN AEROSPACE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 15:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED IN AEROSPACE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 16:
- VOLUME OF EPOXY ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 17:
- VALUE OF EPOXY ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 18:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED IN AUTOMOTIVE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 19:
- VOLUME OF EPOXY ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 20:
- VALUE OF EPOXY ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 21:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED IN BUILDING AND CONSTRUCTION INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 22:
- VOLUME OF EPOXY ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 23:
- VALUE OF EPOXY ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 24:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED IN FOOTWEAR AND LEATHER INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 25:
- VOLUME OF EPOXY ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 26:
- VALUE OF EPOXY ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 27:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED IN HEALTHCARE INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 28:
- VOLUME OF EPOXY ADHESIVES CONSUMED IN PACKAGING INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 29:
- VALUE OF EPOXY ADHESIVES CONSUMED IN PACKAGING INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 30:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED IN PACKAGING INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 31:
- VOLUME OF EPOXY ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 32:
- VALUE OF EPOXY ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 33:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED IN WOODWORKING AND JOINERY INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 34:
- VOLUME OF EPOXY ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 35:
- VALUE OF EPOXY ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 36:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED IN OTHER END-USER INDUSTRIES INDUSTRY BY TECHNOLOGY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 37:
- VOLUME OF EPOXY ADHESIVES CONSUMED BY TECHNOLOGY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 38:
- VALUE OF EPOXY ADHESIVES CONSUMED BY TECHNOLOGY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 39:
- VOLUME SHARE OF EPOXY ADHESIVES CONSUMED BY TECHNOLOGY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 40:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY TECHNOLOGY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 41:
- VOLUME OF REACTIVE EPOXY ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 42:
- VALUE OF REACTIVE EPOXY ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 43:
- VALUE SHARE OF REACTIVE EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 44:
- VOLUME OF SOLVENT-BORNE EPOXY ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 45:
- VALUE OF SOLVENT-BORNE EPOXY ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 46:
- VALUE SHARE OF SOLVENT-BORNE EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 47:
- VOLUME OF UV CURED ADHESIVES EPOXY ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 48:
- VALUE OF UV CURED ADHESIVES EPOXY ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 49:
- VALUE SHARE OF UV CURED ADHESIVES EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 50:
- VOLUME OF WATER-BORNE EPOXY ADHESIVES CONSUMED, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 51:
- VALUE OF WATER-BORNE EPOXY ADHESIVES CONSUMED, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 52:
- VALUE SHARE OF WATER-BORNE EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, ASIA-PACIFIC, 2021 VS 2028
- Figure 53:
- VOLUME OF EPOXY ADHESIVES CONSUMED BY COUNTRY, KILOGRAM, ASIA-PACIFIC, 2017 - 2028
- Figure 54:
- VALUE OF EPOXY ADHESIVES CONSUMED BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2028
- Figure 55:
- VOLUME SHARE OF EPOXY ADHESIVES CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 56:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY COUNTRY, %, ASIA-PACIFIC, 2016 VS 2022 VS 2028
- Figure 57:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, AUSTRALIA, 2017 - 2028
- Figure 58:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, AUSTRALIA, 2017 - 2028
- Figure 59:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, AUSTRALIA, 2021 VS 2028
- Figure 60:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, CHINA, 2017 - 2028
- Figure 61:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, CHINA, 2017 - 2028
- Figure 62:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, CHINA, 2021 VS 2028
- Figure 63:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, INDIA, 2017 - 2028
- Figure 64:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, INDIA, 2017 - 2028
- Figure 65:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, INDIA, 2021 VS 2028
- Figure 66:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, INDONESIA, 2017 - 2028
- Figure 67:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, INDONESIA, 2017 - 2028
- Figure 68:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, INDONESIA, 2021 VS 2028
- Figure 69:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, JAPAN, 2017 - 2028
- Figure 70:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, JAPAN, 2017 - 2028
- Figure 71:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, JAPAN, 2021 VS 2028
- Figure 72:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, MALAYSIA, 2017 - 2028
- Figure 73:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, MALAYSIA, 2017 - 2028
- Figure 74:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, MALAYSIA, 2021 VS 2028
- Figure 75:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, SINGAPORE, 2017 - 2028
- Figure 76:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, SINGAPORE, 2017 - 2028
- Figure 77:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, SINGAPORE, 2021 VS 2028
- Figure 78:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, SOUTH KOREA, 2017 - 2028
- Figure 79:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, SOUTH KOREA, 2017 - 2028
- Figure 80:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, SOUTH KOREA, 2021 VS 2028
- Figure 81:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, THAILAND, 2017 - 2028
- Figure 82:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, THAILAND, 2017 - 2028
- Figure 83:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, THAILAND, 2021 VS 2028
- Figure 84:
- VOLUME OF EPOXY ADHESIVES CONSUMED, KILOGRAM, REST OF ASIA-PACIFIC, 2017 - 2028
- Figure 85:
- VALUE OF EPOXY ADHESIVES CONSUMED, USD, REST OF ASIA-PACIFIC, 2017 - 2028
- Figure 86:
- VALUE SHARE OF EPOXY ADHESIVES CONSUMED BY END USER INDUSTRY, %, REST OF ASIA-PACIFIC, 2021 VS 2028
- Figure 87:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, ASIA-PACIFIC, 2019 - 2021
- Figure 88:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2019 - 2021
- Figure 89:
- REVENUE SHARE OF EPOXY ADHESIVES BY MAJOR PLAYERS, %, ASIA-PACIFIC, 2021
Asia-Pacific Epoxy Adhesive Industry Segmentation
Aerospace, Automotive, Building and Construction, Footwear and Leather, Healthcare, Packaging, Woodworking and Joinery are covered as segments by End User Industry. Reactive, Solvent-borne, UV Cured Adhesives, Water-borne are covered as segments by Technology. Australia, China, India, Indonesia, Japan, Malaysia, Singapore, South Korea, Thailand are covered as segments by Country.
- 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.
| End User Industry | Aerospace |
| Automotive | |
| Building and Construction | |
| Footwear and Leather | |
| Healthcare | |
| Packaging | |
| Woodworking and Joinery | |
| Other End-user Industries | |
| Technology | Reactive |
| Solvent-borne | |
| UV Cured Adhesives | |
| Water-borne | |
| Country | Australia |
| China | |
| India | |
| Indonesia | |
| Japan | |
| Malaysia | |
| Singapore | |
| South Korea | |
| Thailand | |
| Rest of Asia-Pacific |
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Market Definition
- End-user Industry - Building & Construction, Packaging, Automotive, Aerospace, Woodworking & Joinery, Footwear & Leather, Healthcare, and Others are the end-user industries considered under the epoxy adhesives market.
- Product - All epoxy adhesive products are considered in the market studied
- Resin - Under the scope of the study, one component and two component based epoxies are considered
- Technology - For the purpose of this study, Water-borne, Solvent-borne, Reactive, and UV Cured adhesive technologies are taken into consideration.
| Keyword | Definition |
|---|---|
| Hot-melt Adhesive | Hot melt adhesives are generally 100% solid formulations, based on thermoplastic polymers. They are solid at room temperature and are activated upon heating above their softening point, at which stage they are liquid, and hence, can be processed. |
| Reactive Adhesive | A reactive adhesive is made up of monomers that react in the adhesive curing process and do not evaporate from the film during use. Instead, these volatile components become chemically incorporated into the adhesive. |
| Solvent-borne Adhesive | Solvent-borne adhesives are mixtures of solvents and thermoplastic, or slightly cross-linked polymers, such as polychloroprene, polyurethane, acrylic, silicone, and natural and synthetic rubbers (elastomers). |
| Water-borne Adhesive | Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. They are set by allowing the water to evaporate or be absorbed by the substrate. These adhesives are compounded with water as a diluent, rather than a volatile organic solvent. |
| UV Cured Adhesive | UV curing adhesives induce curing and create a permanent bond without heating by using ultraviolet (UV) light or other radiation sources. An aggregation of monomers and oligomers is cured or polymerized by ultraviolet (UV) or visible light in a UV adhesive. Because UV is a radiating energy source, UV adhesives are often referred to as radiation curing or rad-cure adhesives. |
| Heat-resistant Adhesive | Heat-resistant Adhesives refer to those that do not break down under high temperatures. One aspect of a complicated system of circumstances is the adhesive's capacity to withstand disintegration brought on by high temperatures. As the temperature rises, adhesives may liquefy. They can withstand stresses resulting from differing coefficients of expansion and contraction, which might be an additional advantage. |
| Reshoring | Reshoring is the practice of moving commodity production and manufacturing back to the nation where the business was founded. Onshoring, inshoring, and back shoring are further terms used. Offshoring, the practice of producing items abroad to lower labor and manufacturing costs, is the opposite of this. |
| Oleochemicals | Oleochemicals are compounds produced from biological oils or fats. They resemble petrochemicals, which are substances made from petroleum. The oleochemical business is built on the hydrolysis of oils or fats. |
| Nonporous Materials | Nonporous materials are substances that do not permit the passage of liquid or air. Nonporous materials are those that are not porous, such as glass, plastic, metal, and varnished wood. Since no air can get through, less airflow is required to raise these materials, negating the requirement for high airflow. |
| EU-Vietnam Free Trade Agreement | A trade agreement and an investment protection agreement were concluded between the European Union and Vietnam on June 30, 2019. |
| VOC content | Compounds with limited solubility in water and high vapor pressure are known as Volatile Organic Compounds (VOCs). Many VOCs are human-made chemicals that are used and produced in the manufacture of paints, pharmaceuticals, and refrigerants. |
| Emulsion Polymerization | Emulsion polymerization is a method of producing polymers or connected groups of smaller chemical chains known as monomers, in a water solution. The method is often used to make water-based paints, adhesives, and varnishes, in which the water stays with the polymer and is marketed as a liquid product. |
| 2025 National Packaging Targets | In 2018, the Australian Environment Ministry set the following 2025 National Packaging Targets: 100% of the packaging must be reusable, recyclable, or compostable by 2025, 70% of plastic packaging must be recycled or composted by 2025, 50% of average recycled content must be included in packaging by 2025, and problematic and unnecessary single-use plastic packaging must be phased out by 2025. |
| Russian Government’s Import Substitution Policy | The Western sanctions suspended the distribution of several high-tech items to Russia, including those required by the raw material export sectors and the military-industrial complex. In response, the government launched an "import substitution" scheme, appointing a special commission to oversee its implementation in early 2015. |
| Paper Substrate | Paper substrates are paper sheets, reels, or boards with a base weight of up to 400 g/m2 that has not been converted, printed or otherwise altered. |
| Insulation Material | A material that inhibits or blocks heat, sound, or electrical transmission is known as Insulation Material. The variety of insulation materials includes thick fibers like fiberglass, rock and slag wool, cellulose, and natural fibers as well as stiff foam boards and sleek foils. |
| Thermal Shock | A temperature change known as thermal shock generates stress in a material. It commonly results in material breakdown and is especially prevalent in brittle materials like ceramics. When there is a quick temperature change, either from hot to cold or vice versa, this process occurs abruptly. It occurs more frequently in materials with poor heat conductivity and insufficient structural integrity. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific product segment and country are selected from a group of relevant variables & factors based on desk research & literature review; along with primary expert inputs. These variables are further confirmed through regression modeling (wherever required).
- Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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