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REPORT OUTLOOK
| Market Size | CAGR | Dominating Region |
|---|---|---|
| USD 20.69 Billion by 2029 | 6.5 % | Asia Pacific |
| by Type | by Application |
|---|---|
|
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SCOPE OF THE REPORT
Epoxy Resin Market Overview
The epoxy resin market is expected to grow at 6.5 % CAGR from 2022 to 2029. It is expected to reach above USD 20.69 Billion by 2029 from USD 12.5 Billion in 2021.
Epoxy resin is a popular and adaptable material that is utilized in a wide range of applications and industries. It is a kind of synthetic polymer that may undergo a chemical process called curing to change from a liquid to a solid state. An epoxy resin and a curing agent, usually a hardener, are combined to create epoxy resins. Epoxy resin’s superior adhesive properties are one of its primary features. It sticks excellently to many different surfaces, including as metals, ceramics, glass, and numerous kinds of plastics. It is therefore the best option for painting, sealing, and bonding applications. Additionally, epoxy resin has remarkable chemical resistance, shielding the surfaces it covers from corrosive substances and other harm.
Epoxy resin is renowned for its strong mechanical strength and durability in addition to its adhesive qualities. It is ideal for demanding applications like automobile parts, aircraft components, and industrial machinery due to its exceptional impact, heat, and moisture resistance. The final product’s dimensional stability is ensured by epoxy resin’s low shrinkage throughout the curing process. Due to its capacity to produce sturdy and long-lasting concrete structures, epoxy resin is frequently utilized in the construction sector. In epoxy-based mortars and concrete, it is frequently used as a binder for aggregates to increase strength and abrasion and chemical resistance.
The market for epoxy resin is significantly influenced by the rising demand in infrastructure and building. Due to its superior adhesive qualities, durability, resistance to moisture, chemicals, and temperature changes, epoxy resins are extensively employed in these industries. They add to the durability, strength, and sustainability of diverse constructions by serving as adhesives, coatings, sealants, and reinforcement materials for concrete. The need for epoxy resin products in various industries is being fueled by the expanding building and infrastructure projects, which are being driven by urbanization, population increase, and the need for sustainable solutions.
The price volatility of raw materials is one of the major barriers to the growth of the epoxy resin market. Since petroleum-based feedstocks are used to make epoxy resins, changes in the pricing of these raw materials can have a big impact on the total cost of manufacturing. Rapid shifts in raw material costs can make it difficult for businesses to efficiently plan and budget, which could cause supply chain disruptions and have an impact on profitability.
Technology and formulation improvements provide the epoxy resin sector with a significant area of opportunity. Innovative epoxy resin compositions with improved qualities and performance characteristics are being developed as a result of ongoing research and development activities. Improvements in curing periods, temperature resistance, adhesion, and environmental impact are among these developments. Such advancements increase the market potential for epoxy resins and provide new application opportunities. Companies may take advantage of this opportunity by investing in R&D and staying on the cutting edge of technical breakthroughs, offering top-notch epoxy resin solutions that satisfy the changing requirements of sectors including construction, electronics, automotive, and more.
A temporary stoppage of industrial facilities due to pandemic, problems with the supply chain, and decreased demand in sectors including construction and the auto industry initially caused market disruptions. But as economies slowly recovered and businesses restarted operations, the need for epoxy resins began to increase.
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Billion), (Kilotons) |
| Segmentation | By Type, Application, Form, End user |
| By Type |
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| By Application |
|
| By Form |
|
| By End User
 |
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| By Region
 |
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Epoxy Resin Market Segment Analysis
The epoxy resin market is segmented based on type, application, form and end user.
Diglycidyl ether of bisphenol A (DGBEA) and Novolac epoxy resins are two of the most widely used and accessible varieties in the epoxy resin market, with DGBEA probably having a greater market share. Due to its excellent mechanical characteristics, strong adhesion, and adaptability in a wide range of applications, including coatings, adhesives, and composites, DGBEA is a well-liked option.
Epoxy resins normally have a large market share in the paints & coatings industry. Due to its exceptional adhesion, chemical resistance, and durability, epoxy resins are widely utilized as binders and coatings in a variety of industries, including automotive, construction, aerospace, and marine.
The market share normally belongs to the liquid form. Due to its simplicity in handling, mixing, and application, liquid epoxy resins are frequently used and preferred. They can be utilized in a variety of applications since they are available in a variety of viscosities, allowing for flexible formulation.
Based on end users, the building and construction industry usually holds the largest share of the market for epoxy resins. Epoxy resins are widely utilised in construction applications such as concrete reinforcement, adhesives, paints, and sealants. Epoxy resins are in great demand in the construction industry due to urbanisation, infrastructure expansion, and the necessity for long-lasting and environmentally friendly building materials.
Epoxy Resin Market Key Players
The epoxy resin market key players include  3M, Aditya Birla Management Corp. Pvt. Ltd., Atul Ltd, BASF SE, Solvay, Huntsman International LLC, Kukdo Chemical Co., Ltd., Olin Corp., Sika AG, Nan Ya Plastics Corp., Jiangsu Sanmu Group Co., Ltd., and Jubail Chemical Industries LLC.
Recent News:
November 12, 2021: Advanced Material (Epoxy Resins) business witnessed a significant improvement For Aditya Birla Management Corp in the operational and financial performance on a YoY basis, driven by better realization and strong demand. Demand for Advanced Materials in India is expected to remain strong with a pickup in the pace of construction activity, thrust on renewables, and thin inventory across product segments.
March 26, 2020: Solvay named ResMart, LLC the North American distributor for its medical grade polymers as part of Solvay’s new global distribution optimization initiative. Effective May 14, 2020, ResMart took over for Foster Corporation, the previous distributor of these materials, which allowed customers to purchase Solvay’s high-performance resins from a single source.
Epoxy Resin Market Regional Analysis
The epoxy resin market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
- Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
- South America: includes Brazil, Argentina and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
The Asia Pacific epoxy resin market is increasing rapidly and is anticipated to do so over the next few years. The increasing infrastructure and building industries in the area, expanded manufacturing, and rising interest in environmentally friendly and sustainable solutions are all contributing factors to this rise. However, limitations like fluctuating raw material pricing and strict environmental restrictions provide difficulties for business expansion. Emerging markets, advances in technology and formulations, and the expanding electronics, automotive, and wind energy sectors all present opportunities in the Asia Pacific epoxy resin market. Industry companies can take advantage of the enormous market potential in the area by seizing these chances.
Europe’s epoxy resin business has experienced rapid expansion in recent years. Epoxy resins are widely employed in a number of sectors, including aerospace, automotive, electronics, and construction. Epoxy resins have gained popularity in Europe as a result of rising consumer demand for strong, lightweight materials and stringent environmental sustainability regulations. The market has also been helped by the increasing emphasis on infrastructure development and the growing popularity of do-it-yourself initiatives.
Key Market Segments: Epoxy Resin Market
Epoxy Resin Market By Type, 2020-2029, (USD Billion),(Kilotons)
- DGBEA
- DGBEF
- Novolac
- Aliphatic
- Glycidylamine
- Others
Epoxy Resin Market By Application, 2020-2029, (USD Billion) ,(Kilotons)
- Paints & Coatings
- Adhesives & Sealants
- Composites
- Electronic Encapsulation
- Others
Epoxy Resin Market By Form, 2020-2029, (USD Billion) ,(Kilotons)
- Solid
- Liquid
Epoxy Resin Market By End User, 2020-2029, (USD Billion) ,(Kilotons)
- Building & Construction
- Transportation
- General Industrial
- Consumer Goods
- Wind Energy
- Aerospace
- Marine
Epoxy Resin Market By Region, 2020-2029, (USD Billion) ,(Kilotons)
- North America
- Asia Pacific
- Europe
- South America
- Middle East and Africa
Important Countries in All Regions Are Covered.
Who Should Buy? Or Key stakeholders
- Epoxy Resin Suppliers
- Raw Materials Manufacturers
- Industry associations
- Research Organizations
- Investors
- Regulatory Authorities
- Consumers
Key Questions Answered: –
- What is the expected growth rate of the epoxy resin market over the next 7 years?
- Who are the major players in the epoxy resin market and what is their market share?
- What are the end-user industries driving demand for market and what is their outlook?
- What are the opportunities for growth in emerging markets such as Asia-Pacific, Middle East, and Africa?
- How is the economic environment affecting the epoxy resin market, including factors such as interest rates, inflation, and exchange rates?
- What is the expected impact of government policies and regulations on the epoxy resin market?
- What is the current and forecasted size and growth rate of the global epoxy resin market?
- What are the key drivers of growth in the epoxy resin market?
- Who are the major players in the market and what is their market share?
- What are the distribution channels and supply chain dynamics in the epoxy resin market?
- What are the technological advancements and innovations in the epoxy resin market and their impact on product development and growth?
- What are the regulatory considerations and their impact on the market?
- What are the challenges faced by players in the epoxy resin market and how are they addressing these challenges?
- What are the opportunities for growth and expansion in the epoxy resin market?
- What are the product offerings and specifications of leading players in the market?
- What is the pricing trend of epoxy resin market in the market and what is the impact of raw material prices on the price trend?
Exactitude Consultancy Key Objectives:
- Increasing sales and market share
- Developing new technology
- Improving profitability
- Entering new markets
- Â Enhancing brand reputation
FAQ
The epoxy resin market is expected to grow at 6.5 % CAGR from 2022 to 2029. It is expected to reach above USD 20.69 Billion by 2029 from USD 12.5 Billion in 2021.
Asia Pacific held more than 62 % of the Epoxy Resin market revenue share in 2021 and will witness expansion in the forecast period.
The market for epoxy resin is significantly influenced by the rising demand in infrastructure and building. Due to its superior adhesive qualities, durability, resistance to moisture, chemicals, and temperature changes, epoxy resins are extensively employed in these industries.
Diglycidyl ether of bisphenol A (DGBEA) and Novolac epoxy resins are two of the most widely used and accessible varieties in the epoxy resin market, with DGBEA probably having a greater market share.
The Asia Pacific epoxy resin market is increasing rapidly and is anticipated to do so over the next few years.
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