Wellesley, Mass., June 15, 2017 (GLOBE NEWSWIRE) --
In its second report on global sales of epoxy resins and hardeners, BCC Research forecasts a nearly 7% growth rate through 2021. The industry is recovering from a 2014-15 slowdown caused by government bans of Bisphenol A, also called BPA, in plastics for Europe and North America. For 2016, total sales were estimated at $7.5 billion and companies including DuPont, Solvay, 3M and BASF are some of the well-known industrial brands in the sector, according to Epoxy Resins: Applications and Global Markets.
Electrical and electronics industries make the greatest use of epoxy resins. These chemical resistant, heat-proof and moisture-proof coatings are in use everywhere from product wiring and floor coatings to paints and sealants. BCC Research sees growing demand for these chemical resins and hardeners, particularly in Asia/Pacific nations where building construction and industrial output is increasing.
Research Highlights
- From its current level, the global market should reach $10.2 billion by 2021.
- Epoxy sales in 2016 were estimated at $6.1 billion and hardeners at $1.4 billion.
- These tough, lightweight chemicals tend to be produced nearby to where consumers need them, as part of a just-in-time industrial supply market.
“The durability of these compounds is a big factor and new applications are proliferating,” said Kevin Fitzgerald, editorial director at BCC Research. "In 2015, electrical uses such as wire coatings and insulation were the main demands, but we are seeing new uses in wind energy products, adhesives and even some niche product lines as artist’s materials.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.