Epoxy Resin Market Size, Top Global Key Players Analysis till 2023- BASF SE, Spolchemie, Aditya Birla Chemicals, Ciech S.A, Kolon Industries Inc.

Market Overview:

The Epoxy Resin Market is estimated to reach USD 10,620.5 million till 2023, expanding at a CAGR of 5.24% during the forecast period. The protuberant factors driving growth of the market are, increasing demand of epoxy based composites from major end users such as automotive & transportation industry and continuous growth of construction industry.

Application of phenolic antioxidant in building & construction industry accounted for the largest market share. It has been estimated to grow significant rate throughout the review period. This is attributed to swiftly growing infrastructural activities around the globe, wherein the Epoxy Resin are majorly consumed. Glycidyl epoxy is the major segment among the types and held the maximum share of the market, as of 2016, on account of the increasing use of this type in production of materials to be used numerous industries such as automotive and building & construction.

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Major Key Players:
The Major Players operating in the Epoxy Resin Market are:

• Olin Corporation (U.S.),
• Aditya Birla Chemicals (India),
• Kolon Industries Inc. (South Korea),
• BASF SE (Germany),
• Ciech S.A (Poland),
• Huntsman International LLC (U.S.),
• Spolchemie (Czech Republic)

Market Segmentation:
The Global Epoxy Resin Market is categorized on the basis of Type, Technology, Application:

On The Basis Of Type-
• Glycidyl Epoxy
• Non-Glycidyl Epoxy

On The Basis Of Technology:
• Liquid Epoxy,
• Waterborne Epoxy,
• Solvent Cut Epoxy

On The Basis Of Application -
• Building & Construction,
• Automotive & Transportation,
• Electrical & Electronics,
• Adhesives & Sealants,
• Marine

Regional Analysis:
Geographically, Epoxy Resin Market is segmented across Five Regions in the world namely:

• Asia Pacific,
• North America,
• Europe,
• Latin America,
• Middle East & Africa.

Asia Pacific was the largest region in the Global Epoxy Resin Market as of 2016, in terms of the market share. The region is likely to retain its dominance throughout the forecast period owing to rapidly growing construction activities. Asia Pacific market is followed by North America, which is accounted for the second largest number of shares in the Global Epoxy Resin Market, as of 2016.

The North America market is set to reach USD 1,556.8 million by the end 2023. Europe is another substantial region in the market, which accounts for 9.28% share of market in 2016. Country wise, China is the leading market, in terms of value and volume, followed by the U.S.
In coming years, Latin America is set to emerge as a significant market for epoxy resin, which is estimated to grow at highest CAGR due to rise of major end users in this region.

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