27-Aug-2018 | Zion Market Research
Major players in the global epoxy resin market comprise Dow Chemical Company, Huntsman Corporation, Nan Ya Plastic Corporation, Ashland Inc., Sika AG, Kukdo Chemical Co. Ltd., NAMA Chemicals, Cytec, Du Pont, 3M Company, Baling Petrochemical, BASF SE, and Spol Chemie. These players are claimed to show noteworthy development in the global epoxy resin market in the years to come.
As per the analysts at Zion Market Research, Global epoxy resin market added up for USD 7.54 Billion in 2015. The global epoxy resin market is anticipated to cross USD 11.22 Billion by end of 2021, increasing at a CAGR of almost 6.9% from 2016 to 2021.
This review is based on a report by Zion Market Research, titled “Epoxy Resin Market, for Paints & Coatings, Wind Energy, Composites, Construction, Electrical & Electronics and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”- Report at https://www.zionmarketresearch.com/report/epoxy-resin-market
Rising Demand From Construction, Automotive, And Industrial Applications To Boost The Global Epoxy Resin Market
As per the analysts Zion Market Research, the coatings & paints sector is the biggest sector for global epoxy resin market in terms of revenue as well as volume. The market infiltration can be credited to demand from construction, automotive, and industrial applications. Epoxy resin-based coatings, as well as paints, are employed in wall coatings of tank lining, food storage & manufacture, seal coats, swimming pools finishes, waterproofing, wet rooms, water treatment plants, and decorative finishes. Hence, the development coating & paint sector and the consequent requirement for epoxy resins are likely to boost the demand for global epoxy resin market in the years to come. Electronics and electrical segment added up for 34.0% share of the entire global epoxy resin market in 2015, chased by coatings and paints. Composites are likely to see the highest development rate due to rising demand for lightweight & high-strength composite substance from automotive, aerospace, and defense industries, thereby boosting the global epoxy resin market.
Various mergers and acquisitions by market players are set to act as a catalyst in the development of the global epoxy resin market. For example, in August 2018, Elon Musk joined hands with Lost Surfboards of Matt Biolos to make a limited edition of 200 boards. The boards were made from epoxy resins and were sold for a price tag of $1,500 each, thereby boosting the global epoxy resin market.
Risings Requirement From Coatings & Paints To Keep Asia Pacific In Vanguard Position In Global Epoxy Resin Market
In terms of topography, Asia Pacific was the biggest area for global epoxy resin market in the globe owing to the risings requirement from coatings & paints as well as electronics & electrical sectors. In terms of income, Asia Pacific added up for a huge piece of the global epoxy resin market in 2015. Rising automotive demand paired with speedy infrastructure growth is likely to increase the requirement for global epoxy resin market from India in the years to come. Europe was the second-biggest user of global epoxy resin market in 2015. In addition to this, Germany added up for 30.0% of the global epoxy resin market in Europe in 2015 and is likely to develop with the uppermost rate in Europe.
The global epoxy resin market is segmented as follows:
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