Epoxy Resins Market Expands Worldwide With Impressive Sales Trends By 2031

Sustainable Coating Resins Becoming Differentiating Factor to Rise Above Competition

Since paints, coatings, adhesives, and other epoxy resin-integrated products are virtually present in all end-use industries such as wind energy, electronics, and consumer products, manufacturers are bullish on making profits.

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The highly competitive nature of the epoxy resins market is compelling manufacturers to seek a differentiating factor to rise above their competitors. Hence, companies are entering into mergers and acquisitions (M&As) and unlocking growth opportunities in sustainable coating resins to boost their credibility credentials.

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Manufacturers are concentrating on broadening their product portfolio to tap value-grab opportunities in applications, including metal protection, plastic tooling, and lightweight composites for the automotive industry. They are investing in R&D to develop highly versatile epoxy resins that are a useful group of chemicals employed in various industrial applications. Epoxy resins are being publicized in the construction of aircraft, watercraft, and automobiles.

Chemical Companies Cautiously Navigating Through Challenges During COVID-19

The novel coronavirus is changing the world as we know it. Companies in the epoxy resins market have made health and well-being of its employees and workers one of the topmost priorities. They are increasing efforts to inhibit the growth of coronavirus and protect the health of contactors, visitors, and communities. As of now, there have not been any severe supply chain disruptions in North America for top tier companies in the epoxy resins market. Contractors in the market for epoxy resins are maintaining close contacts with logistics service providers to avoid any potential interruptions in supply chains.

Bio-based Epoxy Resins V/S Conventional Resins: Which is Better?

The epoxy resins market is positioned to grow at a favorable CAGR throughout the assessment tenure. However, a major factor that can work against the class of bio-based epoxy resins is that they have less tensile strength and malleability than their fossil fuel-derived counterparts. Hence, the usage of these products might not find an increased acceptance in a world which is ready to accept sustainable materials at the cost of efficiency and productiveness. Yet, research is on for high tensile-strength in bio-based epoxy resins and this would help to counteract the current restraints.

Bio-based epoxy resins hold promising potentials to establish a circular economy.

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U.S. and China Creating Income Avenues for Global Chemical Companies

China and North America are generating stable revenue streams for companies in the epoxy resins market. High-volume manufacturing in China is translating into value-grab opportunities for stakeholders throughout the value chain. An increasing number of global chemical companies are investing capacity ramp-ups in China due to the easy availability of labor and cost-efficient resources.

Besides, the market for epoxy resins in North America is slated for rapid expansion due to government support for R&D innovations. The proliferation of private investment channels is another driver contributing to market growth.

Aviation and Construction Industries Transforming Market Landscape

Manufacturers in the epoxy resins market are boosting their output capacities to capitalize on revenue opportunities in the aviation and construction industries. They are innovating in paints, coatings, and adhesives to meet the demanding needs of clients and customers in aviation and construction industries. This is evident since epoxy resins impart stability in coating and paint formulations.

Moreover, there is a growing demand for paints and coatings that withstand harsh weather and temperature conditions in aviation and construction sectors. Such demands are augmenting the growth of the epoxy resins market, as epoxy resins are known to provide enhanced mechanical strength and high resistance to extreme temperature.

Epoxy Resins Market: Overview

Epoxide resins, which constitute the epoxide functional group, are thermosetting polymers that are gaining popularity in the manufacturing sector due to their superior physical properties
The global epoxy resins market has benefited from the diversity of end-use sectors, as steady technological progression and the need for consistent development in hardware to accompany it have made epoxy resins a vital material in the current technological scenario
Rising demand from industries such as electrical and electronics, fiber reinforced plastics, and metal coatings is likely to propel the global epoxy resins market over the next few years
Demand for Epoxy Resins Driven by Expansion of Construction and Aviation Industries

The booming global construction industry is indirectly a prime driver for the global epoxy resins market, as the demand for epoxy resins from the paints & coatings industry is rising at a steady pace
Epoxy resins impart stability to paint and coating formulations and are, thus, likely to witness high demand in the near future. The construction industry has recovered smoothly from the 2020 crash, and it is set for resurgent growth over the next few years, particularly in developing regions such as Asia Pacific and Latin America. This is estimated to remain an important driver for the global epoxy resins market.
The global epoxy resins market has also benefited from the steady rise in use of epoxy resins in the aviation sector. Epoxy resins provide enhanced mechanical strength and high resistance to extreme temperature.
Reduction in weight enabled by the use of epoxy resins is also highly desired in the aerospace industry, as it results in a significant decline in expenditure on fuel. Consequently, demand for epoxy resins is likely to rise at a steady pace in the aviation & aerospace sector in the near future.
Increase in penetration of private companies in space exploration and the aviation sector is also likely to have a crucial impact on the expansion of the epoxy resins market
China to Remain Dominant Market for Epoxy Resins

In terms of region, the global epoxy resins market has been segmented into North America, Europe, China, Rest of Asia Pacific, Latin America, and Middle East & Africa
China accounts for more than 40% of the global epoxy resins market. It is likely to extend its dominance of the global market over the next few years due to rise in the number of companies shifting their manufacturing base in the country. Robust performance of the construction industry in China, which has benefited from the rising disposable income of urban consumers in China, is likely to remain a key driver for the global epoxy resins market.
Rapid development of the aerospace sector in North America is likely to contribute to the notable market share of North America in the next few years. Robust government support for research in aviation has been a key factor of the market in North America, while the widening private investment channels are likely to further boost the epoxy resins market in the region.
Epoxy Resins Market: Competition Landscape

Leading companies in the global epoxy resins market include
Kukdo Chemicals Ltd.
DuPont
Huntsman Corporation
NAMA Chemicals
BASF SE
The Dow Chemical Company
3M Company
The global epoxy resin market is mainly dominated by leading players and the trend is likely to remain in the upcoming years

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Epoxy Resins Market: Key Developments

In November 2021, Hexoin Inc. announced that it had entered into a definitive agreement with Westlake Chemical Corporation. Hexion Inc. to sell its Hexion's global epoxy business for approximately $1.2 Bn to Westlake Chemical Corporation company. This transaction is anticipated to be completed in the first half of 2022 following customary closing conditions.
On April 1, 2021, Covestro successfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The acquisition is expected to help Covestro expand its portfolio of sustainable coating resins.

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