Paints and Coatings' Rising Demand facilitates the Global Epoxy Resins Market Growth

Inkwood Research estimates that the Global Epoxy Resins Market is evaluated to grow with a CAGR of 5.31% in terms of revenue during the forecasted period of 2021-2028.

"Browse 43 Market Data Tables and 47 Figures spread over 227 Pages, along with an in-depth TOC on the Global Epoxy Resins Market Forecast 2021-2028."

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Epoxy materials are characterized as organic polymer materials produced by polymerizing an epoxide with another compound, comprising two hydroxyl groups. As a synthetic thermosetting resin, epoxy resins are well-proportioned industrial constituents with assorted physical forms, such as high melting solids as well as low viscosity liquids.

Increasing Demand for Paints and Coatings Propels Market Growth

Over the last four decades, the paints and coatings industry witnessed major changes, including the adoption of new coating technologies. Coatings offer two principal functions, namely decoration and protection. Besides, these functions possess considerable economic importance. The surging utility of epoxy resins across the sector, in addition to the rising need for paints and coatings, plays a vital role in fueling the demand for epoxy resins.

While epoxy resins significantly enhance products related to paints and coatings, the most common applications include water and sewage treatment, home appliances, shipbuilding, construction (flooring), and others. Moreover, they bond or coat by adding novel performance characteristics to the material, thereby augmenting technical superiority and efficacy.

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

With more than two epoxy groups per molecule, Novolac epoxy resins are defined as multifunctional epoxy resins. The polyepoxides are obtained by reacting a phenolic novolac resin with ECH. They are ideal for high-performance applications necessitating outstanding chemical resistance, exceptional high-temperature resistance, and solvent resistance. Furthermore, they can also be used for industrial coatings, corrosion-resistant marine coatings, and maintenance coatings.

Asia-Pacific Dominated the Global Market in 2020

The Asia-Pacific recorded substantial electronics and electrical capacity expansions during recent years. The majority of top manufacturers actively participate in the region's expansion plans. Additionally, the rapidly improving infrastructure, as well as the availability of energy and skilled labor at viable rates, are among the key factors propelling the capacity expansions by leading epoxy resin producers across the Asia-Pacific. The region's market growth is further accredited to the development of multiple industries, the surge in the number of applications, the high population base, and the augmenting research and developing sector.

Leading firms in the global epoxy resins market considerably invest in the research and development of products in order to encourage the introduction of improved and enhanced products. Therefore, the competition is fairly strong among domestic and international vendors. Key companies operating in the market include Nan Ya Plastics Corp, Kukdo Chemical Co, Dow Chemical, etc.

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