Increased Demand for Paints & Coatings Integral for Global Epoxy Resins Market Growth

Inkwood Research predicts that the Global Epoxy Resins Market is evaluated to register a CAGR of 5.65% in terms of revenue during the forecasted period of 2022-2030.

"Browse 55 Market Data Tables and 47 Figures spread over 237 Pages, along with an in-depth TOC on the Global Epoxy Resins Market Forecast 2022-2030."

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Epoxy materials refer to organic polymer materials produced by polymerizing an epoxide with another compound with two hydroxyl groups. As a synthetic thermosetting resin type, epoxy resins are adequately balanced industrial materials with various physical forms, ranging from low viscosity liquids to high melting solids.

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Increased Demand for Paints & Coatings to Propel Market Growth

The rising applications of epoxy resins within the paints & coatings industry, in addition to the rising demand for paints and coatings, primarily fuel the global market's growth. Epoxy resins play an essential role in enhancing paints and coatings products, with the most common being construction (flooring), water & sewage treatment, shipbuilding, and home appliances. Through the addition of new performance characteristics to the material, they either coat or bond. As a result, this improves technical superiority as well as efficiency.

Novolac (Formaldehyde & Phenols) is the Fastest-Growing Raw Material

Novolac epoxy resin comprises two epoxy groups per molecule, therefore characterized as multifunctional epoxy resins. Besides, these are polyepoxides acquired through the reaction of a phenolic novolac resin with ECH. These resins are preferred for high-performance applications necessitating excellent solvent resistance, chemical resistance, and exceptional high-temperature resistance. Furthermore, they can also be utilized for maintenance coatings, corrosion-resistant marine coatings, and industrial coatings.

Asia-Pacific to be the Dominating Region by 2030
The market growth in the Asia-Pacific is mainly accredited to the region's developing R&D sector, the high population base, the growth recorded in several industries, as well as the increasing number of applications. The key industrial segments utilizing epoxy resins include building & construction, electronics, and paints & coatings.

The Asia-Pacific has also witnessed substantial electrical and electronics capacity expansions over recent years. In addition, the majority of manufacturers actively participate in the expansion plans of the region as well. The availability of energy and skilled labor at competitive rates and the swiftly improving infrastructure further facilitate the capacity expansions across the Asia-Pacific, particularly by leading epoxy resins manufacturers.

Several top firms are heavily investing in research and development. Besides, they also establish efforts towards presenting the market with better products. Hence, owing to these factors, the competition is set to be high among domestic and international vendors within the global epoxy resins market.

Leading players operating in the global epoxy resins market are Nan Ya Plastics Corp, BASF, Dow Chemical, Kukdo Chemical Co, etc.

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This release was published on openPR.