The Global Epoxy Resin Market was valued at $5.9 billion in 2019, and is projected to reach $10.3 billion by 2027, growing at a CAGR of 7.0% from 2020 to 2027.
Epoxy resin is a thermosetting polymer formed by copolymerization of an epoxide with another compound having two hydroxyl groups. These resins are known for their enhanced performance in numerous industrial applications, owing to properties such as corrosion resistance, high thermal stability, superior mechanical strength, notable toughness, and prolonged durability, resistance to chemical & moisture, and superior adhesion. Thus, epoxy resins majorly find their application across paints & coatings, adhesives, composites, and electronic encapsulation industries.
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The global epoxy resin market is projected to grow at steady rate during the forecast period. North America and LAMEA serve as the largest markets for epoxy resins, owing to rise in demand from the aerospace industry and increase in industrialization. Other major factors that drive the demand for epoxy resins include development of various end-use industries, rise in R&D activities, and increase in demand for lightweight composite materials. However, fluctuation in raw material prices, majorly epichlorohydrin (ECH), hampers the market growth.
The global epoxy resin market is segmented into type, physical form, application, end user, and region. On the basis of physical form, the market is categorized into solid, liquid, and solution epoxy. Depending on type, it is divided into diglycidyl ether bisphenol A (DGBEA), diglycidyl ether bisphenol F (DGBEF), novolac, aliphatic, and glycidylamine, and others. The applications covered in the study include paints & coatings, adhesives, composites, and electronic encapsulation & others. By end user, the market is segregated into building &construction, transportation, general industrial, consumer goods, wind power, aerospace, marine, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players engaged in the global epoxy resin market are BASF SE, Atul Ltd., Dow Chemical Company, Hexion Inc., Huntsman Corporation, Kukdo Chemicals Co. Ltd., Nan Ya Plastics Corporation, Olin Corporation, Solvay SA, and Techstorm Advanced Materials.
1.1. KEY MARKET BENEFITS:
- This report provides an extensive analysis of the current and emerging trends and dynamics in the global epoxy resin market, in terms of revenue and volume.
- In-depth analysis of all regions is done by constructing market estimations for key segments between 2020 and 2027, which assist in identifying the prevailing opportunities.
- The report assists in understanding the strategies adopted by the companies for the growth of the market.
- This study evaluates competitive landscape to understand the competitive environment across the geographies.
- Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
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1.2. KEY MARKET SEGMENTS
By Physical Form
- Paints & Coatings
- Electronic Encapsulation & Others
By End User
- Building & Construction
- General Industrial
- Consumer Goods
- Wind Power
- Marine & Others
ü North America
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