Epoxy Resin Market Worth USD 10,620.5 million by 2023 | Industry Share Of Leading Key Players: BASF SE, Olin Corporation, Aditya Birla Chemicals, Huntsman International LLC, Spolchemie

Market Overview:

The Global Epoxy Resin Market is expected to reach USD 10,620.5 million by 2023, expanding at an estimated CAGR of 5.24% from 2017 to 2023.

Epoxy Resin, also known as polyepoxides, refers to a kind of reactive prepolymer and polymer containing epoxide groups. These resins react either with themselves in the presence of catalysts, or with many co-reactants like amines, phenols, thiols, etc. Epoxy Resin has numerous industrial applications in a wide range of end-use industries. It exhibits superior mechanical properties and more thermal and chemical resistance than other types of resin.

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Global epoxy market is anticipated to witness steady growth over the forecast period owing to significant growth of automotive and construction industry in emerging economies of Asia Pacific such as China, India, Japan, Thailand, Vietnam, and Malaysia. The evolution of consumer electronics in the region coupled with escalating investments in infrastructure projects in Middle East is set to further uplift epoxy resin demand exponentially.

Leading Global Players:

The top players available in the Global Epoxy Resin Market are;
• BASF SE (Germany),
• Olin Corporation (Olin) (U.S.),
• Aditya Birla Chemicals (India),
• Ciech S.A (Poland),
• Kolon Industries, Inc. (South Korea),
• Huntsman International LLC (U.S.),
• Spolchemie (Czech Republic)

Competitive Analysis:

Major industry participants are focusing on development of bio-based epoxy resins that is gaining wide popularity owing to environmental friendly characteristics along with stringent environmental norms. The mixture of consciousness related to damaging manufacturing processes and environmental concerns and exhausting petroleum-based resources has urged research to develop materials from renewable sources. Bio-based epoxy resins are manufactured from plant oils, terpenes, natural rubber, lignin and sugars among others.

Segmentation:

The Epoxy Resin Market is segmented on the basis of application, technology, type, and region.

The type basis of segmentation of the market is divided into non-glycidyl epoxy and glycidyl epoxy. On the basis of technology, the market segment comprises of waterborne epoxy, liquid epoxy, solvent cut epoxy, and others.

The basis of application has segmented the market into building & construction, automotive & transportation, electrical & electronics, marine, adhesives & sealants, and others.

On the basis of geography, the epoxy resin market segments the market into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.

Regional Analysis:

The epoxy resin market globally comprises of regions such as
• Europe,
• North America,
• Asia Pacific,
• Latin America,
• the Middle East & Africa

The Asia Pacific region is responsible for the major share of the market in 2016 and is projected to develop at a considerable CAGR during the review period. The rising demand for the product in the gradually growing construction sector, along with manufacturing of consumer goods and increasing production capacity in this region is the main factor accountable for the authority of the Asia Pacific region in this market. As of the year 2016, the Asia Pacific region is followed by the North America, which is responsible for the second largest market share. The U.S. held the main share of the regional market and is likely to uphold its domination through the forecast period due to greater penetration of the end user industries in the country.

Intended Audience:

• Manufacturers and Distributors of Epoxy Resins.
• Manufacturers and Distributors of Epoxy Resins.
• Suppliers and Traders.
• Government, Associations and Industrial Bodies.
• Investors and Trade Experts.
• Consulting in Chemical Experts.

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