Epoxy Resin Market increasing research and development activities, high performance drive demand in global market

The Global Epoxy Resin Market is expected to reach $ 6,826 million in 2015, reaching $ 10,264 million in 2022, an annual average growth rate of 6.2% from 2016 to 2022. The composite material has an average annual average of 7.1%. Asia Pacific has dominated the global market in 2015 and is expected to remain at the forefront throughout the forecast period.

The epoxy resin market is in the development stage due to an increase in end-user industries, a surge in demand for lightweight parts, and intensive research and development on the subject. However, fluctuations in the prices of high-priced epoxy resins and raw materials are expected to hamper market growth. In addition, the production of epoxy resins from bio-based sources is expected to provide significant opportunities for industry players in the global market.

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DGBEA epoxy resin with almost three-fifths market share in terms of revenue, was the leading segment, followed by glycidylamine and aliphatic epoxy resin in 2015. In the same year, liquid epoxy resin generated the maximum revenue, and held three-eighths of the total market share, followed by solution and solid epoxy resin.
Key findings of Epoxy Resin Market:
• In 2015, Asia-Pacific dominated the global epoxy resin market with around three-fifths share of the total revenue.
• Liquid epoxy resin occupied around three-eighths share of the total market volume in 2015.
• Composites segment is anticipated to grow at a high CAGR of 7.1%, in terms of revenue, from 2016 to 2022.
• Aerospace is the fastest growing end use industry segment growing at a CAGR of 7.9% in terms of revenue, from 2016 to 2022.

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In 2015, Asia-Pacific accounted for more than half of the worldwide demand for epoxy resin and is expected to maintain its lead position throughout the forecast period. Further, LAMEA is projected to be the fastest growing region, with a CAGR of 6.7% followed by North America with 6.5%, owing to the rapid industrialization and increased demand from aerospace industries.

The major companies profiled in the report include BASF SE, E I DuPont de Nemours and Company, Dow Chemical Company, Huntsman Corporation, 3M Company, Kukdo Chemicals, Nan Ya Plastics Corporation, Hexion Inc., Olin Corporation, and Cytec Solvay Group.

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