NEW YORK, April 28, 2022 /PRNewswire/ — As per Zion Market Research study, Epoxy Resin industry amassed revenue approximately about US$ 9.1 billion in 2021 and is projected to gain returns of nearly US$ 14.7 billion by 2028, is anticipated to register massive gains of approximately 6.8% in timespan from 2022 to 2028. In addition to this, surge in epoxy resin industry expansion in next six years can be credited to rise in product penetration in paints & coatings industry. Apart from this, epoxy resins find slew of applications in 2-pack compositions with polyamides. Moreover, the films derived possess exceptional chemical resistance, toughness, adhesion, abrasion resistance, and flexibility. Massive demand for epoxy resins in solid form owing to its low molecular mass will spur market growth. Humungous use of solid epoxy resins as hardeners will create new growth avenues for epoxy resin market. Growing popularity and use of product in construction activities, namely, in construction of residential buildings will prop up sizable expansion of epoxy resin market.
Key Industry Insights & Finding of the Epoxy Resin Market Reports:
- As per the analysis shared by our research analyst, the Epoxy Resin Market is expected to grow annually at a CAGR of around 6.8% (2022-2028).
- Through the primary research, it was established that the Epoxy Resin Market was valued approximately USD 9.1 Billion in 2021 and is projected to reach to roughly USD 14.7 Billion by 2028.
- Asia Pacific in next six years can be credited to rise in construction activities coupled with escalating product penetration across automotive industry in South Korea, Malaysia, China, Japan, and India.
- Thriving construction sector in countries such as China and liberal government policies in view of epoxy resin use in various sectors will spur regional market trends.
Zion Market Research published the latest report titled as “Epoxy Resin Market- By Application (Paints & Coatings, Wind Energy, Composites, Construction, and Electrical & Electronics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2022–2028.” into their research database.
Epoxy Resin Market: Overview
Epoxy resins are used as adhesives and are used in production of vehicles, aircrafts, and snowboards. Moreover, epoxy resin finds lucrative applications in painting, coatings & sealants, and repairs. Apart from this, it is also a durable composite that is used with wood, glass, china metal, and fabric. However, moist and wet conditions can impact durability of product. Reportedly, owing to its beneficial features, epoxy resin finds slew of applications in insulator, generator, motor, and transformer production. Moreover, epoxy resins comprise of cross-linkable material groups and reacts with electrophilic & nucleophile species and is receptive to reagents.
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Epoxy Resin Market: Growth Dynamics
- All these aforementioned aspects will open new vistas of growth for epoxy resin market.
Owing to their reactivity, epoxy resins find massive use in fibers as they can easily bond to fibers due to their reactive nature. Additionally, epoxy compounds are utilized for repairing steel structures & pipelines that are prone to rust and damage. Furthermore, composite repair is usually done for offshore structures where welding is not the best option. All these aforementioned aspects will open new vistas of growth for epoxy resin market. Additionally, low shrinkage property & fabrication simplicity has made epoxy resin best fit for tooling applications. For the record, metal shaping molds, patterns, vacuum forming molds, and jigs are usually manufactured from epoxy resins.
Moreover, epoxy resins are also utilized in heavy duty coatings for oil rigs, storage tanks, ships, and water pipes. This will enlarge scope of epoxy resin market across globe. Furthermore, epoxy resins are utilized along with acrylic coating resins as powdered coatings and as high solid coatings. Apart from this, these compounds are used as intermediates in ultra-violet coatings. Reportedly, epoxy resins find lucrative applications as additive resins in few of coatings for enhancing coating features that includes rust resistance & adhesion. Apparently, epoxy resins such as cycloaliphatic epoxy resins are utilized in inks as well as cationic ultraviolet curable coatings. Additionally, the product reacts with fatty acids of oils for producing epoxy esters which is utilized for air drying as well as non-air-drying. Additionally, epoxy esters produced in this way finds spectrum of applications in equipment coatings and is cross-linked with aminoplast.
Epoxy Resin Market: Restraints
Epoxy resins as well as its curing agents are considered as key skin irritants. Hence contact with compound shall only be made through use of gloves as well as face shields while working in well-ventilated regions. Furthermore, persons having prolonged contact with compound can develop a skin sensitization with dermatitis conditions.
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List of Key Players of Epoxy Resin Market:
- The Dow Chemical Company
- BASF SE
- Huntsman Corporation
- Nan Ya Plastic Corporation
- Sika AG
- Baling Petrochemical Company Limited
- Kukdo Chemical Co.Ltd.
- Ashland Global Specialty Chemicals Inc.
- Nama Chemicals
- Cytec Industries Incorporated
- Du Pont
- The 3M Company
- Spol Chemie.
Key questions answered in this report:
- What are the growth rate forecast and market size for Epoxy Resin Market?
- What are the key driving factors propelling the Epoxy Resin Market forward?
- What are the most important companies in the Epoxy Resin Market Industry?
- What segments does the Epoxy Resin Market cover?
- How can I receive a free copy of the Epoxy Resin Market sample report and company profiles?
Market size value in 2021
USD 9.1 Billion
Revenue forecast in 2028
USD 14.7 Billion
CAGR of almost 6.8% 2022-2028
2016 – 2021
2022 – 2028
By Product Type, By Application, and By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
The Dow Chemical Company, BASF SE, Huntsman Corporation, Nan Ya Plastic Corporation, Sika AG, Baling Petrochemical Company Limited, Kukdo Chemical Co., Ltd., Ashland Global Specialty Chemicals Inc., Nama Chemicals, Cytec Industries Incorporated, Du Pont, The 3M Company, and Spol Chemie.
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
· Asia Pacific To Dominate Epoxy Resin Market Growth In 2022-2028
Growth of epoxy resin market in Asia Pacific in next six years can be credited to rise in construction activities coupled with escalating product penetration across automotive industry in South Korea, Malaysia, China, Japan, and India. Apart from this, easy access to raw materials in these countries has further proliferated size of regional market. Increasing number of chemical firm establishments in Asia and rise in number of manufacturing units set up in sub-continent will pave a way to expansion of epoxy resin industry in Asia Pacific. Thriving construction sector in countries such as China and liberal government policies in view of epoxy resin use in various sectors will spur regional market trends.
Global Epoxy Resin Market is segmented as follows:
Epoxy Resin Market: By Application Outlook (2022-2028)
- Paints & Coatings
- Wind Energy
- Electrical & Electronics
Epoxy Resin Market: By Region Outlook (2022-2028)
- The UK
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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