Pune, india, April 25, 2023 (GLOBE NEWSWIRE) -- The global epoxy resins market size was valued at USD 8.70 billion in 2020 and is anticipated to rise from USD 11.59 billion in 2021 to USD 17.10 billion by 2028 at a 5.7% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Epoxy Resins Market, 2021-2028.”
According to an analysis, epoxy resins have become sought-after across the end-use sectors, including coatings and composites. Industry players are investing in these resins for sealant and adhesive manufacturing. Some of the factors, such as durability and higher resistance, have augured well for the industry outlook.
The epoxy resin market refers to the global demand for the thermosetting polymer that is widely used in various applications, including coatings, adhesives, composites, and electronics. Epoxy resins are highly versatile, durable, and offer excellent adhesion to a wide range of substrates, making them a popular choice across multiple industries.
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Major Players Profiled in the Market Report:
- Aditya Birla Chemicals (India)
- Sika Group (Switzerland)
- DIC Corporation (Japan)
- China Petrochemical & Chemical Corporation (China)
- Kukdo Chemical Co., Ltd. (South Korea)
- Huntsman Corporation (U.S.)
- Olin Corporation (U.S.)
- Nan Ya Plastics Corporation (Taiwan)
- Hexion Inc. (Westlake Chemicals) (U.S.)
- Chang Chun Group (Taiwan)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2028 |
| Forecast CAGR | 5.7% |
| 2028 Value Projection | USD 17.10 Billion |
| Market Size in 2021 | USD 11.59 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 150 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Epoxy Resins Market Growth Drivers | Steady Demand from Automotive to Usher Growth Potentials |
| Bullish Investments in Paints & Coatings to Foster Asia Pacific Market |
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Segmentation:
The Epoxy Resins Market can be segmented based on type, application, end-use industry, and region. Based on type, the market is segmented into liquid epoxy resins, solid epoxy resins, solution epoxy resins, and others. The application segment includes paints and coatings, adhesives and sealants, composites, and others. The end-use industry segment covers building and construction, automotive and transportation, electrical and electronics, marine, aerospace, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. These segments provide a comprehensive understanding of the epoxy resins market and its dynamics in various regions and industries, helping stakeholders make informed decisions.
Report Coverage
The Epoxy Resins Market Report covers a comprehensive analysis of the global epoxy resins market, including current trends, drivers, challenges, and opportunities. The report provides detailed market segmentation based on type, application, end-use industry, and region.
The report also includes an analysis of the competitive landscape, including key players, their market share, and strategies. Additionally, the report provides an analysis of the value chain and distribution channels, along with an overview of the regulatory landscape and trade policies affecting the epoxy resins market.
COVID-19 Impact
Supply Chain Disruptions to Dent Market Growth
Industry players expect the rampant COVID-19 pandemic to reshape the business dynamics globally. With a halt in the manufacturing activities and postponement of projects, supply chain disruptions of Bisphenol-A (BPA) and epichlorohydrin (ECH) became noticeable. Prominently, stakeholders across construction, automotive and aerospace industries faced the toll with delays in shipments, confined trades and production shifts.
Drivers and Restraints
There are several drivers and restraints that impact the growth of the epoxy resins market.
Drivers:
- Growing demand from end-use industries such as automotive, construction, electrical & electronics, and aerospace due to the superior properties of epoxy resins, including high strength, chemical resistance, and durability.
- Increasing demand for adhesives and sealants in various industries, including packaging, automotive, and construction, is expected to drive the growth of the epoxy resins market.
- The rise in the use of composites in aerospace and automotive industries due to their lightweight properties and high strength is expected to drive the demand for epoxy resins.
- Rapid industrialization and urbanization in developing countries, particularly in the Asia Pacific region, are expected to drive the demand for epoxy resins in construction and infrastructure development.
Restraints:
- High cost associated with epoxy resins as compared to other resins is expected to hamper the growth of the market, particularly in developing regions.
- The availability of substitutes such as polyurethane and acrylic resins may restrain the growth of the epoxy resins market.
- The stringent regulations and environmental concerns associated with the production and disposal of epoxy resins may limit the growth of the market.
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Competitive Landscape
The Epoxy Resins Market has a highly competitive landscape, with several major players operating in the market. These players focus on various strategies such as mergers and acquisitions, collaborations, product development, and innovation to maintain their market position and expand their market share.
These players focus on developing high-quality epoxy resins that cater to various end-use industries such as automotive, construction, and electrical & electronics. They also invest in research and development activities to innovate and develop new products with improved properties, including enhanced durability and sustainability.
The market also witnesses several new entrants and local players who focus on product differentiation and competitive pricing to gain a foothold in the market.
Regional Insights
The Epoxy Resins Market is segmented into various regions, including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Each region has its unique market dynamics and growth opportunities.
North America:
North America is a mature market for epoxy resins, driven by the presence of several major end-use industries such as automotive, aerospace, and electrical & electronics. The region witnesses significant demand for high-performance epoxy resins due to their superior properties, including chemical resistance and high strength. The United States and Canada are the major markets in the region.
Europe:
Europe is a significant market for epoxy resins, driven by the presence of several automotive and aerospace industries. The region witnesses increasing demand for lightweight and durable composites, which are majorly composed of epoxy resins. Germany, France, Italy, and the United Kingdom are the major markets in the region.
Asia Pacific:
Asia Pacific is the largest market for epoxy resins, driven by the rapid industrialization and infrastructure development in emerging economies such as China and India. The region witnesses significant demand for epoxy resins in various end-use industries such as construction, automotive, and electrical & electronics. The region is also witnessing significant growth in the manufacturing sector, driving the demand for adhesives and coatings, further boosting the demand for epoxy resins.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- Key Developments
- Latest Technological Advancements
- Insights on Regulatory Scenario
- PEST Analysis
- COVID-19 Impact Analysis
- Supply Chain Challenges
- Steps taken by Companies to overcome the COVID-19 impact
- Potential Opportunities due to the COVID-19 outbreak
- Global Epoxy Resin Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application (Value & Volume)
- Paint & Coatings
- Electrical & Electronics
- Wind Turbine & Composites
- Construction
- Adhesive & Sealants
- Others
- Market Analysis, Insights and Forecast – By Region (Value & Volume)
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- North America Epoxy Resin Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application (Value & Volume)
- Paint & Coatings
- Electrical & Electronics
- Wind Turbine & Composites
- Construction
- Adhesive & Sealants
- Others
- Market Analysis, Insights and Forecast – By Country (Value & Volume)
- U.S.
- By Application
- Canada
- By Application
- U.S.
- Europe Epoxy Resin Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application (Value & Volume)
- Paint & Coatings
- Electrical & Electronics
- Wind Turbine & Composites
- Construction
- Adhesive & Sealants
- Others
- Market Analysis, Insights and Forecast – By Country (Value & Volume)
- Germany
- By Application
- U.K.
- By Application
- France
- By Application
- Spain
- By Application
- Rest of Europe
- By Application
- Germany
- Asia Pacific Epoxy Resin Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application (Value & Volume)
- Paint & Coatings
- Electrical & Electronics
- Wind Turbine & Composites
- Construction
- Adhesive & Sealants
- Others
TOC Continued…!
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