Epoxy Resin Market Research Analysis, Characterization and Quantification Forecast by 2030

The Global Epoxy Resin Market size is estimated to be USD 8.7 million in 2019 and is predicted to reach USD 16.1 million by 2030 with a CAGR of 5.8% from 2020-2030.

Epoxy resin belongs to the reactive polymers which has epoxide group. They are known as polyepoxide and are high performance thermosetting resins which exhibit corrosion resistance, chemical and moisture resistance, thermal stability, mechanical strength, superior adhesion along with excellent durability. Owing to these properties these resins are highly favorable in industrial application. This type of resin is manufactured by using petroleum oil which makes it largely favorable in industrial applications. Due to which the overall application scope of the epoxy resins includes majority of industrial applications such as building & construction, transportation, general industrial, consumer goods, wind power, aerospace, and marine & others.

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Top Companies: DowDuPont, 3M, BASF SE, Momentive, Huntsman, Sika AG, Cytec, Aditya Birla Chemicals, Atul Ltd. and Baling Petrochemical and others.

Market Dynamics and Trends:

The global epoxy resin market represents huge numbers in terms overall consumption and in terms of market value. One of the protuberant factors driving the consumption of epoxy resin is use of epoxy resin in the preparation of industrial paints & decorative coatings. Construction industry is the make shareholder in this market due to rising residential construction activities and resulting demand for paints and coatings products. Introduction of water-borne coatings is driving the uses of epoxy resins. Epoxy based coatings products are witnessing relatively greater adoption over other coatings. This is because of the dual benefits associated with epoxy resins such as decorative properties and protection.

Thus, use of epoxy resins in electrical application for insulation purpose is also gaining prominence on account of its high physical and also for its dimensional properties. Hence, rise in production of high end electronics devices set to enhanced consumption for epoxy resin. Automotive production is rising like anything driven by massive demand for luxury car segment. In some of the developing countries such as India, Russia, and China there has been increased demand for luxury cars as a result of increased economic spending of middle class populations. Automotive industry is a vital consumer of epoxy resin, wherein it is used in the protective for vehicle production along with for aesthetics and durability. However, driven b these factors the growth of this market is hampered by availability of closer alternative and its healthy adoption.

Advancement in the industrial coatings due to green initiatives by global regulatory bodies anticipated to offer healthy growth opportunities during the forecast period.

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Market Segmentations and Scope of the Study:

The global epoxy resin market share is analyzed on the basis of type, form, application and region. Market segmentation based on type includes DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, and Others. Aliphatic epoxy expected to acquire largest market share due to its favorable properties, however, the market size of DGBEA segment likely to grow at highest pace. Based on form, market s segmented into solid, liquid and solution. On the basis of application market has been segmented into building & Construction, Transportation, electrical and electronics, General Industrial, Consumer Goods, Wind Power, Aerospace, and Marine & Others. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.

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