Market Size of europe epoxy adhesive Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2017 - 2028 |
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Market Size (2024) | USD 1.46 Billion |
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Market Size (2028) | USD 1.85 Billion |
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Largest Share by End User Industry | Automotive |
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CAGR (2024 - 2028) | 6.08 % |
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Largest Share by Country | Germany |
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Market Concentration | Medium |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Europe Epoxy Adhesive Market Analysis
The Europe Epoxy Adhesive Market size is estimated at 1.46 billion USD in 2024, and is expected to reach 1.85 billion USD by 2028, growing at a CAGR of 6.08% during the forecast period (2024-2028).
1.46 Billion
Market Size in 2024 (USD)
1.85 Billion
Market Size in 2028 (USD)
5.14 %
CAGR (2017-2023)
6.08 %
CAGR (2024-2028)
Largest Market by End-user Industry
20.95 %
value share, Automotive, 2023
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 Market by Technology
56.65 %
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
20.95 %
value share, Germany, 2023
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 Market by Country
6.64 %
Projected CAGR, United Kingdom, 2024-2028
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.
Leading Market Player
43.55 %
market share, Henkel AG & Co. KGaA, 2021
Henkel has been witnessed as the leading epoxy adhesives manufacturer in the region. This can be attributed to the popularity of its products in multiple industries, including construction, automotive, aerospace, woodworking, and others.
Increasing usage of epoxy adhesives in the automotive applications to boost the market growth
- 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/mm², 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.
Understand The Key Trends Shaping This Market
Increase in usage of epoxy adhesives in the automotive industry to boost the market growth
- 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 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. France, Germany, Italy, Russia, Spain, United Kingdom are covered as segments by Country.
- 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/mm², 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.
| 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 | |
| France | |
| Germany | |
| Italy | |
| Russia | |
| Spain | |
| United Kingdom | |
| Rest of Europe |
Need A Different Region Or Segment?
Europe Epoxy Adhesive Market Size Summary
The Europe Epoxy Adhesive Market is poised for significant growth over the forecast period, driven by its robust properties such as high strength, low shrinkage, and excellent adhesion to various substrates. These adhesives are particularly valued in the automotive and construction industries, with the automotive sector being a major consumer due to the increasing production of electric vehicles. Despite a temporary decline in consumption due to the COVID-19 pandemic, the market has shown resilience and is expected to expand, supported by economic recovery and rising demand in sectors like electronics, electrical appliances, and marine applications. The market is moderately consolidated, with key players like Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA, MAPEI S.p.A., and Sika AG leading the industry.
The market dynamics are influenced by several factors, including the availability of raw materials, production challenges, and geopolitical events such as the Russian invasion of Ukraine, which have impacted supply chains and pricing. The introduction of sustainable alternatives, like green epoxy adhesives derived from soybean oil, is expected to drive future demand due to their environmental benefits. The construction sector, supported by EU initiatives and policies aimed at energy efficiency and digital transition, is also anticipated to contribute to market growth. The strategic acquisitions by major companies to strengthen their market presence further indicate a competitive landscape, with ongoing efforts to expand capabilities and cater to the evolving needs of the European market.
Europe Epoxy Adhesive Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2028 and analysis of growth prospects)
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1.1 End User Industry
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1.1.1 Aerospace
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1.1.2 Automotive
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1.1.3 Building and Construction
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1.1.4 Footwear and Leather
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1.1.5 Healthcare
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1.1.6 Packaging
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1.1.7 Woodworking and Joinery
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1.1.8 Other End-user Industries
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1.2 Technology
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1.2.1 Reactive
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1.2.2 Solvent-borne
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1.2.3 UV Cured Adhesives
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1.2.4 Water-borne
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1.3 Country
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1.3.1 France
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1.3.2 Germany
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1.3.3 Italy
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1.3.4 Russia
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1.3.5 Spain
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1.3.6 United Kingdom
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1.3.7 Rest of Europe
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Europe Epoxy Adhesive Market Size FAQs
How big is the Europe Epoxy Adhesive Market?
The Europe Epoxy Adhesive Market size is expected to reach USD 1.46 billion in 2024 and grow at a CAGR of 6.08% to reach USD 1.85 billion by 2028.
What is the current Europe Epoxy Adhesive Market size?
In 2024, the Europe Epoxy Adhesive Market size is expected to reach USD 1.46 billion.
