Global Epoxy Resins Market Key Insights

During the forecast period of 2022-2031, the global Epoxy Resins Market is expected to reach an estimated value of ~USD 10 billion by 2031, by expanding at a CAGR of ~7%. Major key factors propelling the growth of the epoxy resins market worldwide are the increasing demand from end-use industries including transportation, building, and construction, among others, and the rising demand for lightweight composites in wind turbines.

Market Definition of Epoxy Resins 

The epoxide is copolymerized with a molecule that has two hydroxyl groups to produce epoxy resin, a thermosetting polymer. It is mostly used in non-reinforced applications such as adhesives, composites, paints and varnishes, and varnishes. Car manufacturers are currently utilizing lightweight composite materials to meet the demands for increased design freedom, flexibility, high strength, and decreased vehicle weight. Due to its outstanding physical, chemical, and mechanical properties, epoxy resins have gained popularity across a variety of end-use industries, from coating to composites.

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Global Epoxy Resins Market: Growth Drivers

The market is anticipated to grow even more as a result of the major firms’ increased use of strategic marketing partnerships, new product developments, and acquisitions to boost their market positions and outperform rivals. For instance, the sale of Hexion’s epoxy-based Coatings and Composite businesses, which include the product lines for epoxy specialty resins, base epoxy resins, and intermediates, was announced in November 2021.

Players also place a strong emphasis on capacity expansion and acquisitions to enable enough production of crucial end products and hence support market growth. For instance, The Resins & Functional Materials company (RFM) from DSM was acquired by Covestro AG in April 2021 to increase its selection of environmentally friendly coating resins.

The global epoxy resins market is also estimated to grow majorly on account of the following:

• Increasing demand for aerospace applications
• Wide adoption in the manufacturing of electrical & electronics
• Rising application in the paints and coatings industry
• Growing production of lightweight and commercial vehicles

Global Epoxy Resins Market: Restraining Factor

Epoxy resin’s non-biodegradable nature and release of harmful gases from its primary raw components, such as bisphenol A (BPA) and epichlorohydrin (ECH), are the main concerns limiting the market growth.

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Global Epoxy Resins   Market Segmentation 

• By Physical Form (Solid, Liquid, and Solution)

By the end of 2031, the solution segment is expected to have the largest share. The growth might be attributable to the rising demand for solution-based epoxy resins in electrical and electronic applications and in adhesives and sealants owing to their improved chemical resistance qualities. For instance, shipments of adhesives and sealants reached a global total of approximately 73.5 billion US dollars in 2018, up from 68 billion USD in 2017.

• By Type (Diglycidyl Ether Bisphenol A (DGBEA), Diglycidyl Ether Bisphenol F (DGBEF), Novolac, Aliphatic, Glycidylamine, and Others)
• By Application (Paints & Coatings, Adhesives, Composites, Electronic Encapsulation, and Others)
• By End User (Building & Construction, Transportation, General Industrial, Consumer Goods, Wind Power, Aerospace, Marine, and Others)
• By Region

On the strength of growing industrialization, expanding infrastructure, and rising automotive production in response to increased demand for vehicles from China and India, the market in the Asia Pacific region is anticipated to experience significant expansion over the course of the forecast period. In 2021, China manufactured over 20 million passenger automobiles, over 4 million commercial vehicles, and over 20 million vehicles in India. In addition, China is the largest producer of electronics in the world, which is a significant element in the market’s expansion.

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The market research report on the global epoxy resins also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Key Market Players Featured in the Global Epoxy Resins    Market

Some of the key players in the global epoxy market are BASF SE, Dow, Hexion, Huntsman International LLC., KUKDO CHEMICAL CO., LTD., NAN YA PLASTICS CORPORATION, Olin Corporation, Covestro AG, Solvay, Techstorm, SABIC, DSM, and others.

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