Epoxy Resin Market Size, Share, Growth Report 2030

Epoxy Resin Market Size

The global epoxy resin market size was approximately 9.1 billion USD in 2021 and is predicted to gain revenues of about 14.7 billion USD  by 2028, with a CAGR of nearly 6.8% over the period from 2022 to 2028. The study provides assessment and analysis of the Epoxy Resin Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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Epoxy Resin Market: Overview

Epoxy resins are used as adhesives and are used in production of vehicles, aircrafts, and snowboards. Moreover, epoxy resin finds lucrative applications in painting, coatings & sealants, and repairs. Apart from this, it is also a durable composite that is used with wood, glass, china metal, and fabric. However, moist and wet conditions can impact durability of product. Reportedly, owing to its beneficial features, epoxy resin finds slew of applications in insulator, generator, motor, and transformer production. Moreover, epoxy resins comprise of cross-linkable material groups and reacts with electrophilic & nucleophile species and is receptive to reagents.

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Epoxy Resin Market: Growth Factors

Owing to their reactivity, epoxy resins find massive use in fibers as they can easily bond to fibers due to their reactive nature. Additionally, epoxy compounds are utilized for repairing steel structures & pipelines that are prone to rust and damage. Furthermore, composite repair is usually done for offshore structures where welding is not the best option. All these aforementioned aspects will open new vistas of growth for epoxy resin market. Additionally, low shrinkage property & fabrication simplicity has made epoxy resin best fit for tooling applications. For the record, metal shaping molds, patterns, vacuum forming molds, and jigs are usually manufactured from epoxy resins.

Moreover, epoxy resins are also utilized in heavy duty coatings for oil rigs, storage tanks, ships, and water pipes. This will enlarge scope of epoxy resin market across globe. Furthermore, epoxy resins are utilized along with acrylic coating resins as powdered coatings and as high solid coatings. Apart from this, these compounds are used as intermediates in ultra-violet coatings. Reportedly, epoxy resins find lucrative applications as additive resins in few of coatings for enhancing coating features that includes rust resistance & adhesion. Apparently, epoxy resins such as cycloaliphatic epoxy resins are utilized in inks as well as cationic ultraviolet curable coatings.  Additionally, the product reacts with fatty acids of oils for producing epoxy esters which is utilized for air drying as well as non-air-drying. Additionally, epoxy esters produced in this way finds spectrum of applications in equipment coatings and is cross-linked with aminoplast.       

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Epoxy Resin Market: Restraints

Epoxy resins as well as its curing agents are considered as key skin irritants. Hence contact with compound shall only be made through use of gloves as well as face shields while working in well-ventilated regions. Furthermore, persons having prolonged contact with compound can develop a skin sensitization with dermatitis conditions.

Report Scope :

Regional Analysis

Asia Pacific To Dominate Epoxy Resin Market Growth In 2022-2028

Growth of epoxy resin market in Asia Pacific in next six years can be credited to rise in construction activities coupled with escalating product penetration across automotive industry in South Korea, Malaysia, China, Japan, and India. Apart from this, easy access to raw materials in these countries has further proliferated size of regional market.

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Increasing number of chemical firm establishments in Asia and rise in number of manufacturing units set up in sub-continent will pave a way to expansion of epoxy resin industry in Asia Pacific. Thriving construction sector in countries such as China and liberal government policies in view of epoxy resin use in various sectors will spur regional market trends.

Epoxy Resin Market: Competitive Insights

Key participants impacting epoxy resin market surge and profiled in study 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.   

The global Epoxy Resin Market is segmented as follows:

By Application

• Paints & Coatings
• Wind Energy
• Composites
• Construction
• Electrical & Electronics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa