30-Mar-2022 | Zion Market Research
According to study of Zion Market Research, 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.
Paints & Coatings Sector To Lead Application Space In 2022-2028
Massive use of epoxy resin as binder for coating application for improving longevity of floor & metal will prop up growth of paints & coatings segment. In addition to this, epoxy resins impart strength, chemical resistance, and durability to coatings. Furthermore, ability of epoxy resin of quickly drying, improving adhesion & curing, and providing enhanced water-resistivity has increased its demand in paints & coatings industry. A prominent rise in population leading to surge in demand for constructing residential buildings has led to enhanced use of paints & coatings in buildings. Moreover, paints & coatings are used to improve aesthetic value of buildings. This is likely to pave a way for expansion of paints & coatings sector. Massive need of producing lightweight vehicles has translated into humungous demand for epoxy resins in automotive coatings sector. This has proliferated segmental surge in ensuing years.
Asia Pacific Epoxy Resin Market To Expand Leaps & Bounds By 2028
Rapid expansion of epoxy resin industry in Asia Pacific over ensuing years is subject to prominent increase in demand for consumer electronic goods in countries such as Taiwan, South Korea, and Singapore. Additionally, Indian government has allocated nearly US$ 1401 Billion for infrastructural growth. Reportedly, under smart city mission, nearly half of projects were completed by first half of 2021. In China, construction & industrial sectors account for nearly 50% of country’s GDP. For the record, electrical & electronics industry in Japan is few of the leading industries across globe. All these aforementioned aspects are anticipated to create lucrative growth avenues for epoxy resin industry in Asia Pacific zone.
Some of the major players of industry are focusing on creating green products as a part of their eco-friendly initiative and corporate social responsibility. We have profiled these players in our report and they are 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.
Browse the full “Epoxy Resin Market- By Application (Paints & Coatings, Wind Energy, Composites, Construction, and Electrical & Electronics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2022–2028.” Report at https://www.zionmarketresearch.com/report/epoxy-resin-market
The global Epoxy Resin Market is segmented as follows:
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