Epoxy Resin Market

The Epoxy resins market is developing and expanding at a rapid pace in the global scenario. The market is expected to grow at a CAGR of 6.6% during 2020-2030. The Epoxy resins are also termed as polyoxides. The raw materials in accordance with the epoxy resin are mainly derived out from petroleum. Epoxy resins are the class of reactive polymers and pre-polymers that contain epoxide group. The product finds huge application in wide number of sectors such as construction industry, paint and coating industry, electrical and electronics, composites, wind turbines and others. The epoxy resins are generally plant-derived substances therefore the price fluctuation in these raw materials greatly determine the price of epoxy resins and play a crucial role in the process. Rising demand of epoxy resins in the end user segment is boosting the growth of the industry. Some of the other factors driving the market are research and development going on in the industry majorly by the organization leading in the market. Modified epoxy resins are also experiencing huge demand from the market, the modification of the epoxy resins improves the quality of the product at the same time reduces the cost and improves the processing convenience.

Paints & Coating Dominating in terms of Revenues However, Composites to Grow the Fastest

Owing to its physical and chemical properties such as low curing time, excellent chemical resistance high strength, and flexibility the epoxy resin material has shown extensive utility in various applications such as paints and coatings, adhesives, composites, construction material, and so on. Currently, the market is dominated by paints and coatings applications contributing to 43.42% of the total market in 2021. However, Composites applications are expected to grow at the highest CAGR of 8.5% due to increasing use in the aerospace industry.

Aerospace Remains as the Fastest Growing Application Market

Among the three segments, Aerospace is expected to be the fastest-growing segment expanding with a CAGR of 9.4% during the forecast period. High investment in the construction industry in developing economies such as India, China, Latin America is expected to be the major reason for driving the growth of the segment. The adhesives are majorly used in the construction of aircraft, bicycles, skis, snowboards, automobiles, ships, and even buildings. The wooden building constructions in the region of Latin America are boosting the demand for epoxy resins.

360 Degree Market Analysis by Atlantic Market Research

The report holds a detailed description of the major regions of the globe i.e. North America, Europe, APAC and ROW. Major countries of each region have been thoroughly discussed by providing the market size and estimations, market determinants, government regulation and segmentation analysis. The report has the analysis of emerging and leading companies in the current worldwide epoxy resin market. The competitive environment is observed and are majorly focused on how new technologies and products are influencing the current epoxy resin market. Mergers and acquisitions recently accomplished are detailed with a major focus on what organizational, product-specific and strategic changes are expected in the forecast period. Detailed profiles ofthe market leaders are discussed in detail. Also, factors holding opportunities such as research and development activities, untapped market scenario is discussed in detail.

Composite Segment Witnessing Strong Demand

Composites segment is expected to grow with a CAGR of 8.5% during the forecast period. The enhancing usage of composite materials in various industries which include pipe, wind energy, and electrical and electronics are the key drivers of development in epoxy resins market. The aerospace and automobile industry are keenly driving the epoxy resins market on a global scenario. The heavy investment in research & development with the technological flow in the segment of modified resins is anticipated to expand & innovate new industrial applications. The advantageous factors which includes moisture resistivity, adhesion, electrical and mechanical resistance and high thermal stability forms the epoxy resins appropriate for varied end use applications which consists ofjewelry, laminates and insulators.

APAC to Take More Than 50% of The Market Revenue

Geographically epoxy resin market is dominated by Asia Pacific region contributing to 56% of the total market share. China is the major producer as well as consumer globally. China consumes almost 35% of the global epoxy resin production. Moreover, significant growth in the automotive industry in the developing economies of the region is expected to boost the market growth. However, the rest of the world which includes a group of countries such as Middle east & Africa and Latin America is expected to grow at the highest CAGR of 10.8% during the forecasted period. The growth in these regions is expected to drive by the growing demand from the construction and automotive industry.

Mergers Remain Significant Among Top Market Players

The dominant organizations of the epoxy resins market are focusing on mergers in altogether the value chain which will initiate them to generate higher profits and make their impact and presence in the developing and emerging economies. The rising demand for low weight and prominent performance materials takes into account the automotive sector which is anticipated to drive the epoxy resin market in a sustainable manner in accordance with the forecast period. Current and forecast market value has been discussed in the report. The market estimation is being done and includes the consumption and price of epoxy resin. The market report has been divided on the basis of Application. Each segment has been thoroughly discussed both qualitatively and quantitatively, with stress on the market value and growth for the major sub-segments.

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for the extrapolation of market revenues. The derived market estimates were further validated from top-down, bottom strategies, and primary research. The scope of the market is limited to the following segments of product categories and regions.

By Application (2020-2030; US$ Mn)

• Paints and Coatings
• Adhesives and Sealants
• Composites
• Other Application

By End User (2020-2030; US$ Mn)

• Building and Construction
• Automotive
• Electrical and Electronics
• Consumer Goods
• Windpower
• Aerospace
• Marine
• Others

By Region (2020-2030; US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

• Pre Covid-19 situation
• Post Covid-19 situation

Key questions answered in this report

• What are the key market segments in the current scenario and in the future by product categories?
• What are the key market segments in the current scenario and in the future by region?
• What is the key impact of Covid-19 over market revenues and market determinants in the global epoxy resins market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segments?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships, etc. that companies are deploying to enhance market revenues and growth?