Single Component Epoxy Market - Forecast(2023 - 2028)

Report Code: CMR 1303 Report Format: PDF + Excel

Single Component Epoxy Market Overview

Single component epoxy market size is forecast to reach US$3.4 billion by 2027, after growing at a CAGR of 5.6% during 2022-2027. Single component epoxy is suitable for bonding various materials including metals, composites, wood, and even some plastics. Single component epoxy is developed at low-temperature curing single part epoxies for use on material that would melt or deform during heat curing adhesives process. Single component epoxy is widely used for bonding, coating, fixing different electronic components like printed circuit boards, auto components, and others. According to Semiconductor Industry Association, the demand for semiconductors in 2020 by various end-use industries are automotive 11.4%, computers 32.3%, communication 31.2%, consumer 12%, Industrial 12%. The use of semiconductors in various end-use industries uses single component epoxy during the fabrication of semiconductors for bonding and fixing the devices. Therefore the growing usage of semiconductors will boost the single component epoxy market during the forecast period.

COVID-19 Impact

The Covid-19 pandemic has been a major challenge for the Single Component Epoxy market owing to directly affecting the manufacturer's supply chain across the globe and shut down the production facilities to minimize the risk of virus spreadThe major sectors such as automotive, aerospace, marine, consumer appliances, and others have been highly impacted. According to The European Automobile Manufacturers Association, European Union GDP has contracted by 6.3% in 2020 as compared to 2019. The car market has a significant decline of 20.6% in Europe, a 16.6% decline in the United States, 6.8% drop in Chinese car sales throughout 2020. Therefore, the initiation taken by the government and private sector will help to recover the single component epoxy market during the forecast period.

Single Component Epoxy Market Report Coverage

The report: “Single Component Epoxy Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Single Component Epoxy industry.

By Form: Solid, Liquid, and Paste.
By Curing Process: Thermal, UV Light, and Others.
By Application: Bonding, Sealing & Adhesives, Coating, Potting, Encapsulation & Impregnation, Fixing, and Others.
By End-Use Industry: Transportation (Automotive, Aerospace, Marine, Railway), Building & Construction (Residential Construction, Commercial Construction, Infrastructure, and Others), Electrical & Electronics, Household Appliance, Healthcare, Energy, Packaging, Chemical Processing, Optical Industries, Industrial, Oil & Gas, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), and Rest of the World: The Middle East(Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa(South Africa, Nigeria, Rest of Africa) 

Key Takeaways

  • The Asia Pacific is expected to register a CAGR of 6.8% during the forecast period (2022-2027). The increasing demand for adhesive and sealants for automotive, construction, and others in Asian countries such as China, India, Japan, and South Korea is driving the market demand for single component epoxy.
  • The growing demand for adhesives in woodworking to protect from warping or cracking due to its high bonding strength and as a sealing paint that protects against water damage is driving the market.
  • The rising demand for single-component epoxy in various end-use industries like oil & gas, building & construction, and other industrial applications owing to high strength and corrosion resistance is boosting the market during the forecast period.

Figure: Asia Pacific Single Component Epoxy Market Revenue, 2021-2027 (US$ Billion)

Single Component Epoxy Market Revenue

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Single Component Epoxy Market Segment Analysis – By Form

The liquid form segment accounted for around 38% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. The liquid form exhibits many properties such as low viscosity, solvent resistance, good flexibility, and high impact strength among others. They are used in the construction sector for structure, cabinet, flooring, and millwork. According to the Associated General Contractors of America (AGC), the construction sector of the US is a major contributor to the economy and creates nearly US$1.4 trillion worth of structures every year. Therefore, the growing demand for coating during the construction activity will boost demand for single component epoxy during the forecast period.

Single Component Epoxy Market Segment Analysis - By Application

The sealing & adhesives segment accounted for approximately 26% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. Sealing & adhesives are widely used in aerospace, defense, electrical & electronics, automotive, and other sectors owing to high thermal & dimensional stability, versatility, reactivity, and chemical resistance property. According to Invest India, the global electronic devices market is estimated to be over US$2 trillion. The global electronic systems manufacturing industry of India has grown from 1.3% in 2012 to 3.6% in 2019. Therefore, the growing electronic systems manufacturing will boost the demand for sealing & adhesives segments which in turn drive the single component epoxy market during the forecast period.

Single Component Epoxy Market Segment Analysis - By End-Use Industry

The building and construction segment accounted for more than 15% of the market share in 2021 and is estimated to grow significantly during the forecast period. Single component epoxy is mostly utilized in public and private infrastructures for connecting precast materials, bonding of steel support components, and carbon seals for slabs and columns. According to The U.S. Census Bureau and the U.S. Department of Housing and Urban Development, the total number of new residential construction completed in November 2021 is 1,282,000, building Permits issued by the authority is 1,712,000 and begins construction for 1,679,000 houses with an increase of 0.9% as compared to the same period in the US. Therefore, the growing building and construction segment will fuel the demand for single component epoxy during the forecast period. 

Single Component Epoxy Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the single-component epoxy market in 2021 up to 40%, owing to the presence of large infrastructure projects in developing countries like China, India, Indonesia, and others. The comprehensive use of single component epoxy in bonding, adhesive & sealants, and others are helping in the market growth during the forecast period. According to The Ministry of Housing and Urban-Rural Development China, the construction industry has revealed the plan to push the construction pillar sector of the country's economy onto a greener, smarter and safer path with an investment of a 6% share of the China GDP by 2025 in January 2020. According to India Brand Equity Foundation, the Government of India allocate US$1.4 trillion under the national infrastructure pipeline for the sectors such as energy, roads, urban and railways amounting to 71% of the projected infrastructure investments in India during 2019-2025. Therefore, the growing infrastructure sector is growing the demand for the single component epoxy market.

Single Component Epoxy Market Drivers

The demand for Fixings & Bonding in Electric & Electronics

The growing demand is rising for fixings and bondings in the electric and electronic sector to fix various devices like speakers, headphones, smartphones, laptops, and others by providing high-quality, reliable insulation for electrical appliances. The low shrinkage, low exothermicity during cure, excellent mechanical, & electrical insulating properties and high toughness is driving the single component epoxy market. According to Invest India, the global electronic components market is forecasted to reach US$191.8 billion by 2022, of which the Asia Pacific region is likely to capture a dominant share. Growth in the Indian electronic components market is also driven by rising local demand and a growing electronics ecosystem. Therefore, the growing demand for electronic devices will be driving the single component epoxy market during the forecast period.

Single Component Epoxy Market Challenges

Higher Price of Epoxy

The cost of epoxy resins is much higher. The reason behind this is its production cost, while producing products, the machinery and the equipment which are used are tagged with higher expense, also, these machineries require high maintenance. Owing to this factor, the product of epoxy comes with a higher price as compared to its alternative materials, which tends to constrain the growth of the market. In addition, even if the single component epoxy provides better results, the customer usually prefers the less cost. Such factors have become the major challenge of single component epoxy in terms of consumption, which constrains the growth of the market.

Single Component Epoxy Industry Outlook

Technology launches, acquisitions, and r&d activities are key strategies adopted by players in the market. Single Component Epoxy top 10 companies include:

  1. 3M Company
  2. Dowdupont
  3. Huntsman Corporation
  4. Aditya Birla Chemicals
  5. BASF SE
  6. Henkel AG & Co.
  7. Mitsui Chemicals Inc.
  8. Permabond
  9. Sika AG
  10. Kukdo Chemical Co. Ltd.

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1. Single Component Epoxy Market- Market Overview
    1.1 Definitions and Scope 
2. Single Component Epoxy Market- Executive Summary
    2.1 Key Trends by Form
    2.2 Key Trends by Curing Process
    2.3 Key Trends by Application
    2.4 Key Trends by End-use Industry
    2.5 Key Trends by Geography
3. Single Component Epoxy Market– Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Single Component Epoxy Market - Startup Companies Scenario Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Single Component Epoxy Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Single Component Epoxy Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Single Component Epoxy Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Single Component Epoxy Market – By Form (Market Size -US$ Million/Billion)
    8.1 Liquid
    8.2 Solid
    8.3 Paste
9. Single Component Epoxy Market – By Curing Process (Market Size -US$ Million/Billion)
    9.1 Thermal
    9.2 UV Light
    9.3 Others 
10. Single Component Epoxy Market – By Application (Market Size -US$ Million/Billion)
    10.1 Bonding
    10.2 Sealing & Adhesives 
    10.3 Coating
    10.4 Potting
    10.5 Encapsulation & Impregnation
    10.6 Fixing 
    10.7 Others
11. Single Component Epoxy Market – By End Use Industry(Market Size -US$ Million/Billion)
    11.1 Transportation
        11.1.1 Automotive
        11.1.2 Aerospace
        11.1.3 Marine
        11.1.4 Railway
    11.2 Building & Construction
        11.2.1 Residential Construction
        11.2.2 Commercial  Construction
        11.2.3 Infrastructure
        11.2.4 Others
    11.3 Electrical & Electronics
    11.4 Household Appliance
    11.5 Healthcare
    11.6 Energy 
    11.7 Packaging
    11.8 Chemical Processing
    11.9 Optical Industry
    11.10 Industrial
    11.11 Oil & Gas 
    11.12 Others
12. Single Component Epoxy Market -By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Single Component Epoxy Market– Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Single Component Epoxy Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Single Component Epoxy Market – Key Company List by Country Premium Premium
16. Single Component Epoxy Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"