Analysis Of Global Epoxy Resin Market Size:
Global Epoxy Resin Market Analysis and Forecast (2022-2028) – by Type, , Application, End-user, and Region.
Over the period from 2022 to 2028, the Global Epoxy Resin Market is expected to generate profits of about 9.1 (USD Billion) in 2021 and revenue of around 14.7 (USD Billion) by 2028, representing a compound annual growth rate (CAGR) of almost 6.8%.
According to its objectives, the report will present a comprehensive assessment of the market, and it will include thoughtful insights, facts and historical data, as well as market data and projections that have been validated by the industry, as well as a suitable set of assumptions and methodology.
The research also assists in comprehending the dynamics and structure of the Epoxy Resin market by identifying and evaluating market segments, as well as forecasting the worldwide market size for the product. In addition, the study focuses on a competitive analysis of important competitors in terms of product, pricing, financial situation, product portfolio, growth plans, and geographical presence, among other things. PEST analysis, Porter’s analysis, and SWOT analysis are included in the study to help shareholders prioritize their efforts and investments in the Epoxy Resin market’s developing segments in the near future, among other things.
Global Epoxy Resin Market Analysis: Segments
Epoxy resin is more corrosion, water, and chemical resistant than other types of resin. It is advantageous for the aircraft industry because epoxy resin has high adhesion, thermal stability, durability, and mechanical strength, making it a good choice for the industry. Despite this, variable raw material costs as well as high epoxy prices may pose a threat to the market’s expansion.
The demand for epoxy resin in the global market is driven by its superior performance when compared to other resins, a growth in research and development efforts, and an increase in the penetration of epoxy resin in various end-user industries. As a result of their high resistance to deterioration as well as their exceptional adhesive and mechanical qualities, epoxy resins are extremely flexible and may be used in a broad variety of applications.
In terms of application, paints and coatings are the most profitable application segment in the worldwide epoxy resin market, followed by electronic encapsulation and other applications, composites, and other applications, respectively. As a consequence of their ability to resist corrosion and rust, epoxy-based paints and coatings are in great demand across a wide range of sectors including construction, automotive, and others.
Because of its properties, such as high physical and mechanical strength, good dimensional stability, excellent dielectric properties, and other characteristics, epoxy resin is widely used as an insulation material for electronics and electrical applications that require protection in extreme and dangerous environments (such as chemical plant equipment, deep sea, and engine management).
Epoxy resins are primarily utilized in chemical and special purpose coatings because they give a thin layer coating with high chemical resistance, durability, bond strength, and adhesion, as well as the ability to cure fast. Epoxy resins are also employed in a variety of other applications.
Based on the end user, Building & construction sector expected to be the dominant end-use industry. Increase in employment, increase in public & private non-residential spending, and rise of green building construction are driving the epoxy resin market in the building & construction end-use industry. Though the growth of this sector has slowed down, it would still provide opportunities for the growth of the epoxy resin market.
Global Epoxy Resin Market Analysis: Regional
Geographically, Asia Pacific was the largest regional market in 2017. Increasing industrialization and growing infrastructural development make it an attractive market. The Asia Pacific market is majorly driven by countries such as China, Japan, South Korea, India, Taiwan, Malaysia, Thailand, Indonesia, and the Philippines. Rapid infrastructure development and the growing demands of the automotive industry, coupled with the increase in population are expected to fuel the market for epoxy resin in the Asia Pacific region.
However, applications of epoxy resin in emerging economies of the Middle East, Africa, and South America are expected to show high growth rate due to higher architectural glazing, greenhouse glazing, and noise-reducing walls for roads and train tracks.
The scope of Epoxy Resin Market:
Global Epoxy Resin Market, by Type
Global Epoxy Resin Market, by Application
• Paints & Coatings
• Electronic Encapsulation
Global Epoxy Resin Market, by End user
• Building & Construction
• General Industrial
• Consumer Goods
• Wind Power
Global Epoxy Resin Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating In Epoxy Resin Market:
• BASF SE
• E I DuPont de Nemours and Company
• Dow Chemical Company
• Huntsman Corporation
• 3M Company
• Kukdo Chemicals
• Nan Ya Plastics Corporation
• Hexion Inc.
• Olin Corporation
• Cytec Solvay Group
• chang Chun Chemicals
• Sanmu Group
• Jubail Chemical Industries LLC (JANA)
• Aditya Birla Chemicals Ltd.
• Sika AG
• Baling Petrochemical
• Eagle Chemicals
• Leuna Harze
• Elite Crete Systems
• RBC Industries Inc.