New York, United States , March 14, 2023 (GLOBE NEWSWIRE) -- The Global Epoxy Resin Market Size is to grow from USD 14.72 billion in 2021 to USD 22.73 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.68% during the forecast period, due to strong growth of the construction industry and the rising demand for electrical and electronic devices are driving the market growth during the forecast period. In additional, Increasing demand for paints & coatings is anticipated to significantly drive the market growth during the forecast period.
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Epoxy resins have been used in powder coatings, high solids coatings, and acrylic coating resins. As intermediates in UV coatings, epoxy resins are used. Epoxy resins crosslinked with polyisocyanate are used to manufacture electrodeposition automobile primers. Furthermore, epoxy resins aid in the development of coating properties like as strength, endurance, and chemical stability. Demand for epoxy coating in the electric vehicle (EV), marine, and aerospace industries is expected to boost the worldwide epoxy resin market even more. However, rising raw material costs in 2021 are the outcome of a changed supply-demand scenario during COVID-19, which was followed by lower production.
Browse 333 market data Tables and 47 Figures spread through 279 Pages and in-depth TOC on the "Global Epoxy Resin Market Size, Share, and COVID-19 Impact Analysis, By Type(DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, Other), By Application (Paint & Coatings, Construction, Electrical & Electronics, Wind Turbine, Composites, Civil Engineering, Adhesive & Sealants, Others), By End-Use (Automotive, Transportation, Building & Construction, Consumer Goods, General Industrial, Wind Energy, Aerospace& Defence, Marine, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." in detail along with the table of contents:
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The DGBEA segment is witnessing significant CAGR growth over the forecast period.
On the basis of type, the Global Epoxy Resin Market is segmented into DGBEA, DGBEF, novolac, aliphatic, glycidylamine, and others. Among these, the DGBEA segment is expected to increase at a significant CAGR during the forecast period. It is used in a wide range of consumer and industrial applications due to its toughness, good adhesion, chemical resistance, and other specialized features like low shrinkage and moisture absorption.
The paint & coatings segment is dominating the market over the forecast period.
On the basis of application, the Global Epoxy Resin Market is segmented into paint & coatings, construction, electrical & electronics, wind turbine, composites, civil Engineering, adhesive & sealants, and others. Among these, the paint & coatings segment is witnessing significant CAGR growth over the forecast period. They offer superior anti-corrosion properties and a low VOC content (VOCs). Epoxy resin-based paint and coating are applied to the inside and exterior surfaces of commercial, residential, institutional, and industrial structures.
The consumer goods segment is dominating the market with the largest market share of 33% over the forecast period.
Based on the end-use, the Global Epoxy Resin Market is segmented into automotive, transportation, building & construction, consumer goods, general industrial, wind energy, aerospace & defence, marine, and others. Among these, the consumer goods segment is dominating the market with the largest market share of 33% over the forecast period. Physical and mechanical strength, chemical resistance, and shock and vibration resistance distinguish its use in electrical applications.
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Asia Pacific is dominating the market with the largest market share of 58%.
Asia Pacific, with a 41% market share, is expected to remain the industry's leading region during the projection period. The expanding number of building activities and rising demand from the automotive sector in emerging nations such as India, Japan, and South Korea are projected to drive the market throughout the forecast period. Furthermore, the ease of access to raw materials has created a huge possibility for the application of epoxy resin-based products in a variety of end-use sectors. The rising number of infrastructure development projects, as well as the quickly expanding manufacturing industry, is likely to drive the market throughout the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the Global Epoxy Resin Market include 3M, Dow Inc., Atul Ltd., BASF SE, Solvay, Huntsman International LLC, Kukdo Chemical Co., Ltd., Olin Corp., Sika AG, Nan Ya Plastics Corp., DIC Corporation, Jiangsu Sanmu Group Co., Ltd., Jubail Chemical Industries LLC, Chang Chun Group, China Petrochemical & Chemical Corp., Hexion Inc., Kolon Industries, Inc., Techstorm Advanced Materials, NAGASE & Co., Ltd., Aditya Birla Management Corp. Pvt. Ltd., and among others
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Recent Development
- In December 2020, Gabriel Performance Products, established in North America, was purchased by Huntsman Corporation. Gabriel is utilized to provide epoxy-curing ingredients for coatings, composites, sealants, and adhesives. Huntsman's formulation expertise and competitiveness in the North American epoxy market were boosted by this acquisition.
Key Target Audience
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- Market Players
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Epoxy Resin Market based on the below-mentioned segments:
Global Epoxy Resin Market, By Type
- DGBEA
- DGBEF
- Novolac
- Aliphatic
- Glycidylamine
- Other
Global Epoxy Resin Market, By Application Type
- Paint & Coatings
- Construction
- Electrical & Electronics
- Wind Turbine
- Composites
- Civil Engineering
- Adhesive & Sealants
- Others
Global Epoxy Resin Market, By End-Use
- Automotive
- Transportation
- Building & Construction
- Consumer Goods
- General Industrial
- Wind Energy
- Aerospace & Defence
- Marine
- Others
Global Epoxy ResinMarket, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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