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Report
Europe Epoxy Adhesive Market - Size, Share, Covid-19 Impact & Forecasts Up To 2028
Market Report I 2023-01-23 I 200 Pages I Mordor Intelligence
The Europe Epoxy Adhesive Market is projected to register a CAGR of 6.51%
Key Highlights
Largest Segment by End User Industry - Automotive : Automotive is the dominant end-user industry in the market owing to the wide range of adhesives 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 - Germany : In Europe, Germany had the highest market share owing to the strong presence of manufacturers in the country's automotive, woodworking and joinery, and construction industries.
Fastest-growing Segment by Country - France : Due to rapid construction activities in residential and commercial sectors along with rising demand for electric vehicles, France is likely to be the fastest-growing country during the forecast period.
Europe Epoxy Adhesive Market Trends
Automotive is the largest segment by End User Industry.
Epoxy adhesives are thermosetting resins that demonstrate high strength and low shrinkage during their curing time. These adhesives are tough and resistant to chemicals and environmental damage. Moreover, epoxy adhesives offer excellent adhesion to various substrates, superior resistance solvents, and good electrical insulation.
The consumption of epoxy adhesives shrunk by 12% in 2020 compared to 2019, mainly due to the adverse impact of COVID-19 in many countries, including Germany, Italy, France, and the United Kingdom. Production was hampered in these countries owing to the lockdowns, supply chain disruptions, and economic slowdown, which resulted in a decline in the consumption of epoxy adhesives as well. Moreover, the economic recovery in the countries caused to rise in the production of epoxy adhesives in 2021 by registering a growth of 8% in terms of volume.
Germany has accounted for the highest market share of nearly 21% for epoxy adhesives in the region, followed by France and Russia. The trend will likely continue in the upcoming years owing to the constant growth in demand from the automotive and construction industries. Automotive has witnessed the largest consumer industry of epoxy adhesives in the region owing to the rising electric vehicle production. Epoxy adhesive is mainly used in structural applications and gives the highest tensile strength, around 35-41 N/mm, among all other resin-based adhesives to bond metal, glass, and plastic. However, the other end-user industries will likely capture the major market share in terms of volume at the end of 2028 due to the rising applications in the major sectors such as electronics and electrical appliances, locomotive, and marine. Such a trend will drive the demand for epoxy adhesives in the coming years.
Germany is the largest segment by Country.
Epoxy adhesive is one of the most widely used materials due to its remarkable adhesiveness, physical properties, and damage tolerance. The majority of epoxy resins are derived from petroleum chemicals such as bisphenol A glycidyl ether. Their essential constituents are non-renewable, and the final products are impossible to degrade and recycle under even the mildest conditions, resulting in severe waste contamination. Water and steam have less impact on epoxy adhesive compounds than other matrix materials, as they have higher corrosion resistance. Their main disadvantages are the comparatively high cost, the lengthy cure period, and the difficult handling. Recently, new research introduced the production of green epoxy adhesives, which are produced from soybean oil. These adhesives are expected to witness higher adoption due to their sustainable properties, which as a result, may upsurge their demand over the coming years.
Olin Corporation, one of the largest producers of epoxy resins, announced the temporary curtailing of its integrated epoxy production at its Stade, Germany, facility. During Q2 2022, Olin experienced weaker epoxy resin demand in Europe than anticipated, exacerbated by uncertainties following the Russian invasion of Ukraine. This factor reduced the production of epoxy adhesives in the region and also limited their availability, which, as a result, has increased the price of epoxy adhesives across the region.
Across all the end-use sectors, automotive is the leading consumer of epoxy globally, holding a share of about 27.4%, followed by building and construction, healthcare, aerospace, and woodworking, with shares of approximately 16.2%, 12.3%, 9.1%, and 9%, respectively.
Europe Epoxy Adhesive Market Competitor Analysis
The Europe Epoxy Adhesive Market is fairly consolidated, with the top five companies occupying 74.17%. The major players in this market are Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA, MAPEI S.p.A. and Sika AG (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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
4.1 End User Trends
4.2 Regulatory Framework
4.3 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION
5.1 End User Industry
5.1.1 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
5.2 Technology
5.2.1 Reactive
5.2.2 Solvent-borne
5.2.3 UV Cured Adhesives
5.2.4 Water-borne
5.3 Country
5.3.1 France
5.3.2 Germany
5.3.3 Italy
5.3.4 Russia
5.3.5 Spain
5.3.6 United Kingdom
5.3.7 Rest Of Europe
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 3M
6.4.2 Arkema Group
6.4.3 Beardow Adams
6.4.4 H.B. Fuller Company
6.4.5 Henkel AG & Co. KGaA
6.4.6 Huntsman International LLC
6.4.7 Jowat SE
6.4.8 MAPEI S.p.A.
6.4.9 Sika AG
6.4.10 Soudal Holding N.V.
7 KEY STRATEGIC QUESTIONS FOR ADHESIVES AND SEALANTS CEOS
8 APPENDIX
8.1 Global Adhesives and Sealants Industry Overview
8.1.1 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
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