The global epoxy adhesives market is foreseen to gather demand on the back of increasing usage of modern alternative materials. A range of industries have been witnessing the popularity of epoxy adhesives due to their equal adhesive qualities expressed in various substrates. In a report by Transparency Market Research (TMR), the market is closely studied with focus on market dynamics including growth drivers, restraints, and trends and opportunities. It bears the title “Epoxy Adhesives Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.” Taking into account the variety of substrates that could be attached with epoxy adhesives, it could be said that the market has become a crucial element of the industrial sector.
In terms of end-use industry, the world epoxy adhesives market could see a classification into semiconductor, building and construction, automotive, and aerospace. Automotive design making use of alternative materials and swelling demand for automobiles in developing countries are expected to help automotive to bag a handsome share of the market. Demand for new automobiles could be driven by aggressive urbanization observed in Latin America and Southeast Asia. Moreover, there has been a growing demand for commercial and personal transportation in these regions.
The aerospace industry is also predicted to create decent growth prospects in the world epoxy adhesives market. This could be on account of the use of excellent mechanical attributes of epoxy adhesives such as resistance to pressure and temperature variations and sustained load. Furthermore, developments observed in the aerospace industry are foretold to push growth in the coming years. Rising uptake of electronic gadgets in the semiconductor industry could also help the global market to improve demand.
On the basis of type, the international epoxy adhesives market could be segregated into two-component and one-component varieties. One-component epoxy adhesives are projected to raise their demand at a rapid rate because of their superior qualities including consumer friendliness and fast curing time and their solvent-less system. However, two-component varieties are observed to find more common usage comparatively.
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By region, there could be different geographies taken into consideration when analyzing the international epoxy adhesives market. However, Asia Pacific is forecasted to take the lead in the market with China accounting for a larger share. Among large-scale manufacturers operating in the regional market could be Japan and South Korea. On the other hand, Thailand and India are foretold to rise at an aggressive rate. In the building and construction industry, the Middle East and Africa and Latin America could exhibit a steady growth rate. Among larger consumers of epoxy adhesives could be the U.K., the U.S., and Germany. As a result, Europe and North America are envisaged to see a rise in demand in the near future.