Portland, OR, July 13, 2020 (GLOBE NEWSWIRE) -- As per the research published by Allied Market Research, the global epoxy resin market accounted for $5.9 billion in 2019, and is projected to garner $10.3 billion by 2027, growing at a CAGR of 7.0% from 2020 to 2027.
Development of end-use industries, surge in demand for lightweight composites, and increase in R&D activities in the epoxy resin technology have boosted the growth of the global epoxy resin market. However, fluctuation in raw material prices hampers the market. On the contrary, advent of bio-based epoxy resin is expected to create new opportunities for the market players in the coming years.
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Covid-19 scenario: The outbreak of Covid-19 has greatly affected the global epoxy resin market.
- Lockdown in various countries and shortage of labor have temporarily suspended the manufacturing of advanced materials.
- Dearth of raw materials and disrupted supply chain has affected the manufacturing of epoxy resin.
The global epoxy resin market is segmented on the basis of type, physical form, application, end user, and geography. Based on type, the market is divided into Diglycidyl Ether Bisphenol A (DGBEA), Diglycidyl Ether Bisphenol F (DGBEF), Novolac, Aliphatic, Glycidylamine, and others. The DGBEA segment held the largest share in 2019, accounting for more than two-thirds of the market. However, the Novolac segment is expected to register the highest CAGR of 12.6% during the forecast period.
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On the basis of physical form, the solution segment dominated the market, contributing to around two-fifths of the market. On the other hand, the solid segment is anticipated to manifest the highest CAGR of 7.7% during the forecast period.
Based on application, the market is categorized into paints & coatings, adhesives, composites, electronic encapsulation, and others. The paints & coatings segment held the lion’s share in 2019, accounting for more than one-third of the market. However, the adhesives and sealants segment is estimated to portray the highest CAGR of 10.9% during the forecast period.
The global epoxy resin market is analyzed across several regions such as North America, Asia-Pacific, Europe, and LAMEA. The market across the Asia-Pacific region held the largest share in 2019, contributing to around three-fifths of the total revenue. However, the market across LAMEA is expected to register the highest CAGR of 7.5% during the forecast period.
The global epoxy resin market report includes an in-depth analysis of the key market players such as BASF SE, Dow Chemical Company, Atul Ltd., Huntsman Corporation, Hexion Inc., Nan Ya Plastics Corporation, Kukdo Chemicals Co. Ltd., Solvay SA, Olin Corporation, and Techstorm Advanced Materials.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.