EUROPE EPOXY ADHESIVE MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for epoxy adhesive in Europe is anticipated to grow at a CAGR of 6.51%. Epoxy adhesives are thermosetting resins that exhibit strong properties and little shrinkage while curing. These adhesives are durable and resistant to chemicals and the effects of the environment. Epoxy adhesives also provide exceptional electrical insulation, superior solvent resistance, and excellent adherence to a variety of substrates. 

Epoxy glue consumption decreased by 12% in 2020 compared to 2019, primarily as a result of COVID-19's negative effects in various nations, including Germany, Italy, France, and the United Kingdom. Due to supply chain disruptions, lockdowns, and economic downturn, production in these nations was affected, which also led to a decrease in the demand for epoxy adhesives. 

Following France and Russia in market share for epoxy adhesives in the area, Germany has the biggest share at around 21%. Due to the construction and automotive industries' steady growth in demand, the trend is most likely to continue in the future years. One of the biggest manufacturers of epoxy resins, Olin Corporation, reported a temporary reduction in integrated epoxy production at its Stade, Germany, site. Olin encountered worse than expected demand for epoxy resin in Europe during the second quarter of 2022, which was made worse by unpredictability in the wake of the Russian invasion of Ukraine. This aspect decreased the availability of epoxy adhesives in the area and also lowered their manufacturing, which led to an increase in the cost of epoxy adhesives in the area.

Major Players: Arkema Group, H.B. Fuller Company, Henkel AG & Co. KGaA, MAPEI S.p.A. and Sika AG

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