Hyderabad, Aug. 22, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Epoxy Resins Market Report (2023-2028)," the market volume is estimated at 3.43 million tons in 2023. It is expected to register a CAGR of 3.41% during the forecast period.
Epoxy resins are referred to as materials that possess robust mechanical properties, high adhesive strength, and powerful chemical resistance, which makes them immensely useful for a variety of applications. Epoxy resin is a stable product that can prove useful in many materials like wood, metal, glass, and fabric.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | 3.43 million tons |
| Market Size (2028) | 4.06 million tons |
| CAGR (2023-2028) | 3.41% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Volume (tons) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Rise in the demand for epoxy-based composites. |
| Growth of the construction industry in emerging countries in the Asia-Pacific. |
Who are the Top Companies in the Global Epoxy Resins Market?
The epoxy resins market is highly fragmented in nature, with the presence of both domestic and international players.
Significant players in the global epoxy resins market are,
- 3M
- Aditya Birla Chemicals
- Atul Ltd
- BASF SE
- Chang Chun Group
- Covestro AG
- Daicel Corporation
- DuPont
- Hexion
- Huntsman International LLC
- Jiangsu Sanmu Group
- Kemipex
- KUKDO CHEMICAL CO. LTD.
- NAMA Chemicals
- NAN YA PLASTICS CORPORATION
- Olin Corporation
- Sika AG
- SPOLCHEMIE
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Key Highlights from the Global Epoxy Resins Market Report:
The Paints and Coatings Segment is Predicted to Dominate the Market
- Epoxy resins are a primary component in the process of coating applications. They are used as binders to enhance the durability of the coatings for metal and floor applications.
- Paints and coatings are used extensively for both exterior and interior applications in a variety of industries, including automotive, construction, industrial, and building.
The Asia-Pacific Region Expected to Dominate the Market
- The manufacturing and construction sector in Japan is expected to expand at a moderate pace over the next five years because of new investments in renewable energy, infrastructure, and commercial projects.
- The aerospace market in China, South Asia, and Southeast Asia is expected to grow significantly during the forecast period. As per the report of the Boeing Commercial Outlook 2022-2041 in China, around 8485 new deliveries worth USD 545 billion will be made by the year 2041.
What are the Latest Developments in the Global Epoxy Resins Market?
- In March 2022, Aditya Birla Chemicals made the announcement that it would double its epoxy manufacturing capacity and strengthen its relations overseas to enhance its position in the global market.
- In February 2022, the epoxy-based composite and coatings business of Hexion Holdings Corporation was acquired by Westlake Chemical Corporation.
Mordor Intelligence has Segmented the Global Epoxy Resins Market Based on Raw Material, Application, and Geography:
- By Raw Material (Market Size and Forecast based on Volume (tons), 2018-2028)
- DGBEA (Bisphenol A and ECH)
- DGBEF (Bisphenol F and ECH)
- Novolac (Formaldehyde and Phenols)
- Aliphatic (Aliphatic Alcohols)
- Glycidylamine (Aromatic Amines and ECH)
- Other Raw Materials
- By Application (Market Size and Forecast based on Volume (tons), 2018-2028)
- Paints and Coatings
- Adhesives and Sealants
- Composites
- Electrical and Electronics
- Marine
- Wind Turbines
- Other Applications
- By Geography (Market Size and Forecast based on Volume (tons), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Epoxy Resins Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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- Japan Protective Coatings Market Report - The Japanese protective coatings market is expected to register a CAGR of more than 4.00% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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