Epoxy resin consumption is anticipated to grow between 2022 and 2031 at a significant CAGR of 6.9%. The epoxy resins market worldwide was valued at US$ 11.22 billion in 2021, and by the end of 2031, it is expected to have grown to US$ 21.87 billion.
Epoxy resin use in paints and coatings is anticipated to increase at a CAGR of 6.5% due to their broad use across industry verticals. Demand for bio-based epoxy resins is expected to rise during the forecast period, driven by an increased requirement for sustainability in many end-use industries.
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Key Pioneers
NAMA Chemicals
DuPont
3M Company
Kukdo Chemical Ltd.
The Dow Chemical Company
BASF SE
Hunstman Corporation
Competitive Landscape
Epoxy resin manufacturers are highly investing in new manufacturing facilities, training and research centers, distribution centers, and the acquisition of smaller companies with similar expertise.
With the epoxy resins industry becoming more competitive, prominent competitors are strategically focusing on reaching maximum production capacity to meet customers’ expectations.
For instance :
In 2020, Kukdo Chemicals India completed its epoxy production facility in Gujarat. This epoxy facility has an industrial capacity of 40,000 tons per year. Following China, the company has successfully launched its second overseas plant in India to meet domestic demand and provide consumers with optimum epoxy solutions.
Key Takeaways of Epoxy Resins Market
The epoxy resins market refers to the market for a type of thermosetting polymer that is widely used in various industries due to its excellent adhesion, chemical resistance, and mechanical properties.
The market has been witnessing steady growth due to the increasing demand from end-use industries such as paints and coatings, electronics and electrical, construction, automotive, and aerospace.
Key drivers of the market include the growing construction and infrastructure development activities, the increasing use of epoxy resins in electronic components and circuit boards, and the rising demand for high-performance coatings and composites.
Epoxy resins are commonly used as binders, adhesives, and coatings in various applications. They are also used in the production of composites, electrical laminates, and encapsulation materials.
The market offers a wide range of epoxy resin products with different characteristics, such as waterborne epoxy resins, solvent-based epoxy resins, and solid epoxy resins, to cater to specific application requirements.
Industry Research
By Raw Material :
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 :
Paints & Coatings
Wind Energy
Composites
Construction
Electrical & Electronics
Adhesives
Others (Vinyl Gloves, Metal Protection, Handbags, Eyeglasses, and Plastic Tooling)
Key Questions Covered in the Epoxy Resins Market Report
What is the projected value of the Epoxy Resins factors Industry in 2022?
At what rate will the global Epoxy Resins factors market size grow until 2031?
Which are the factors hampering the growth of Epoxy Resins factors?
Which region is expected to lead in the global Epoxy Resins factors market By 2031?
Which are the factors driving the Epoxy Resins factors Industry during the forecast period?
What is the expected market value of the Epoxy Resins factors market during the forecast period?
Regional Analysis For Epoxy Resins Market:
APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
North America (USA, Canada and Mexico)
South America (Brazil, Chile, Argentina, Rest of South America)
MEA (Saudi Arabia, United Arab Emirates, South Africa)