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Epoxy adhesives are a category of industrial adhesives, which have high combining strength. These adhesives are majorly used on materials such as wood, metals, glass, and different polymers. Epoxy adhesives are majorly used as structural adhesives. Moreover, some epoxy adhesives after being cured by exposure to UV light are used in optoelectronics and fiber optics applications.
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The growth of the global epoxy adhesives market is majorly driven by the rise in demand for epoxy adhesives in the automobile manufacturing and construction sectors. There is an increase in the demand for superior quality adhesive materials in the production of highly efficient automobiles. Moreover, the surge in demand for epoxy adhesives in construction projects for binding materials such as ceramics, woods, and metals also adds to the growth of the market around the world. Also, excellent properties such as thermal stability and resistance to variations in pressure make epoxy adhesives a popular choice in the manufacture of several parts of electronic gadgets such as transistors, circuit boards, and others. Epoxy adhesives are also widely used in the aerospace industry as well. Several major companies including SpaceX are entering the aerospace sector and investing on the development of better quality adhesives for the production of highly efficient aircrafts and other equipment. However, the high toxicity of the epoxy fumes and the rise in concerns of its effects on the environment limit the market growth.
The Asia-Pacific region accounts for the major share of the global epoxy adhesives market because of its increase in demand in the construction sector of the region. The rapid infrastructural developments and urbanization in the developing nations have resulted in a considerable rise in the applications of epoxy adhesives in the region. The market in Europe and North America regions is also expected to witness lucrative growth owing to the rapid development in the aerospace and automobile sector in the developed nations.
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