Epoxy Resins Market for Paints & Coatings, Wind Energy, Composites, Construction, Electrical & Electronics, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022

Global epoxy resins market accounted for USD 9.3 Billion in 2019 and is expected to reach USD 17.79 Billion by 2026, growing at a CAGR of around 7.2% between 2020 and 2026.

16-Mar-2018 | Number of pages: 167 | Report Code: ZMR-2705 | Report Format : | Status : Published

Analysis

Epoxy resins are thermosetting polymers and are available in liquid, solution, and solid form. Epoxy resins are classified on the basis of physical phase as solid and liquid epoxy resins. Solid epoxy resins are nonhazardous material but liquid epoxy resins are classified as hazardous material. Epoxy resins are used as binders in cement and mortars, general purpose adhesives, industrial coatings, rigid foams, non-skid coatings, solidifying sandy surfaces in oil drilling, potting and encapsulating media. Epoxy resins are well known for its curable nature. The majority of epoxy resins are derived from petroleum.

On the basis of application epoxy resins segmented as paints & coatings, electrical & electronics, construction, wind turbine, composites, adhesive and others. Among all, paints & coatings accounted around 42% of the global epoxy resin market. Construction industry accounted for the third-largest share of the epoxy resin market in 2019 and is expected to grow during the forecast period because of, epoxy resin properties such as adhesive strength, luster, and   hardness. Demand for epoxy resins in the automobile industry is expected to grow on account of heat resistance property of epoxy resin.

Asia Pacific was the dominant regional segment of the epoxy resin market in 2019. It accounted more than 63% of the global epoxy resin market in 2019.This trend is   continued during the forecast period 2020 to 2026. Increasing automotive demand coupled with rapid infrastructure development is expected to grow the regional demand for epoxy resin during the forecast period. Germany is the main epoxy resin market in Europe. Germany is expected to grow with the highest rate in Europe. There will be boomed of epoxy resin market in Europe due to increasing demand in the aerospace industry. The increasing use of wind turbines for power generation is driving force for epoxy resin in North America and is expected to grow with moderate rate during the forecast period. High growth in end user industries is the main driver for epoxy resin market. Besides that availability of phenolic resins and polyurethane as alternatives in various applications as well as fluctuations in raw material prices is expected to restrict market growth.

Key players of the epoxy resins market include Huntsman Corporation, Dow Chemical Company, Momentive Specialty Chemicals Inc., Nan Ya Plastic Corporation, Sika AG, Kukdo Chemical Co. Ltd., Ashland Inc., Cytec, NAMA Chemicals, 3M Company, Du Pont, BASF SE, Baling Petrochemical and Spol Chemie among others.


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