EMEA Epoxy Adhesives Market Size, Share & Trends Analysis Report By Type, By Application (Automotive & Transportation, Building & Construction, Others), By Region, And Segment Forecasts, 2023 - 2030

Market Size & Trends

The EMEA epoxy adhesives market size was valued at USD 1.73 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2030. The surging demand for these products from the construction industry is expected to positively impact the growth of the market in EMEA, as these adhesives are widely used for structural bonding and repairing, as well as maintenance. Market players in the market are investing heavily in brand building, research & development, innovation, and fostering strong relationships with customers to improve their market share and sustain competition. For instance, in July 2022, H.B. Fuller acquired Fourny NV, aimed at expanding its market presence and enhancing its ability to offer innovative and effective adhesive solutions to customers in the construction sector in Europe.

The penetration of epoxy adhesives is anticipated to be the highest in the power & energy segment on account of the increasing reliance on renewable energy sources to reduce greenhouse gas emissions across the EMEA. This trend is propelling the growth of the energy industry, which is anticipated to benefit the consumption of the product over the forecast period.

The epoxy adhesives market has seen significant growth in recent years owing to the product’s versatility, strength, and durability. They are widely used in various industries including construction, automotive, electronics, and aerospace, among others. The growth of these industries has led to the increased demand for the product, which, in turn, has led to the expansion of the market.

One of the key factors driving the market is the growth of the construction industry, which is a major end user of epoxy adhesives. They are widely used in the construction industry for structural bonding, repair, and maintenance applications, among others. In addition, the growth of the automotive industry has led to an increased demand for these products as they are used in a variety of applications such as bonding and sealing components.

Type Insights

Two Component type dominated the market with a revenue share of 42.25% in 2022. This is attributable to its widespread applications in various industries for its strong bonding capability, durability, and resistance to environmental factors such as temperature changes, corrosion, and weathering.

One-component epoxy adhesives are single-part products that cure when exposed to heat, light, or moisture without needing a second component to initiate the reaction. These products are commonly used in a wide range of industries, including construction, automotive, and electronics, due to their excellent bonding strength, durability, and resistance to chemicals and heat.
Other technologies used for formulating epoxy adhesives include waterborne and radiation cured. The demand for waterborne products has witnessed a rise due to strict regulations against solvent-based products resulting from their harmful volatile organic compounds (VOCs). By using suitable formulations, waterborne epoxy resins provide high performance and minimize risks associated with VOCs while increasing worker safety. Waterborne epoxy resins are used in adhesives for tie coats, primers, and laminates. Water-based wetting agents and other additives can be incorporated into waterborne epoxy resins to speed up the drying, enhance corrosion resistance, extend pot life, and increase adhesion.

Application Insights

Automotive & Transportation application dominated the market with a revenue share of 36.07% in 2022. This is attributable to the high strength, durability, and excellent bonding characteristics of these products that make them ideal for structural applications in automotive & transportation industry.

Epoxy adhesives are widely used in the building & construction industry due to their superior characteristics such as high strength, durability, and bonding properties. They are used to join building components or materials together. They are commonly used in industrial construction, civil engineering, and bridge building due to their ability to withstand high loads and extreme temperatures.

The power & energy segment is anticipated to witness the highest growth in the global epoxy adhesives market over the forecast period. Power & energy industry, especially renewable energy, is witnessing constant development in technologies, which require adhesives to protect and bond sensitive mechanical and electrical components such as charge controllers, solar panels, and wind turbine blades.

Regional Insights

Europe region dominated the EMEA epoxy adhesives market with a revenue share of 93.60% in 2022. This is attributable to the growing emphasis on reducing carbon dioxide emissions through the implementation of the Euro 6d emission standards in 2023 which is poised to create significant growth opportunities for lightweight materials in the European region. As a result, this is expected to drive the demand for EMEA epoxy adhesives in the automotive industry in the coming years.

With the increasing penetration of EVs in Germany, the demand for adhesives is increasing for making lightweight vehicles. Epoxy adhesives help in reducing and replacing heavy mechanical fasteners in EV battery design and production, which helps in achieving liberty in designing along with less assembly time. Germany, being the largest energy consumer of epoxy adhesives in Europe, is proactively fostering energy projects to address the surging demand.

Middle East & Africa is a significant contributor to the worldwide oil and gas production sector; however, there are impediments to attracting foreign direct investments due to a variety of constraints, including climatic deficiencies and geopolitical tensions. However, with manufacturers expanding and setting up new manufacturing plants in certain countries of the region and growing investments in construction industry, the demand for epoxy Adhesives is expected to propel in the region over the forecast period.

Key Companies & Market Share Insights

EMEA epoxy adhesives market is highly competitive in nature. Key players penetrating in the regions are involved in broadening their product portfolio and global presence. The market players are more inclined towards expansion in terms of distribution network as well as geographical footprint. Moreover, companies are investing in R&D activities in order to develop new products with higher quality and purity. This gives the manufacturers competitive advantage over other companies. For instance, in June 2022, H.B. Fuller launched a new line of epoxy adhesives for the automotive industry. The product claims to offer improved strength and durability. Some of the leading manufacturers in EMEA epoxy adhesives market are:

• Sika AG

• Permabond LLC

• Parker Hannifin Corp.

• Mapei S.p.A0.

• Henkel AG & Co. KGaA

• H.B. Fuller Company

• Dow

• Bostik

• Ashland

• 3M

EMEA Epoxy Adhesives Market Report Scope

EMEA Epoxy Adhesives Market Report Segmentation

This report forecasts revenue growth at regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the EMEA epoxy adhesives market report on the basis of type, application, and region:

• Type Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

  • One Component

  • Two Component

  • Others

• Application Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

  • Automotive & Transportation

  • Building & Construction

  • Power & Energy

  • Electrical & Electronic

  • Other Applications

• Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2018 - 2030)

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Russia

    • Turkey

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

    • UAE

    • Iran

    • Egypt