The Global Epoxy Resins Market to Progress with 5.04% CAGR by 2028

Triton Market Research presents the Global Epoxy Resins Market report segmented by Application (Paints & Coatings, Electrical & Electronics, Construction, Adhesives, Wind Turbines, Composites, Other Applications), by Raw Material (DGBEA (Bisphenol A & ECH), DGBEF (Bisphenol F & ECH), Novolac (Formaldehyde & Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines & ECH), Other Raw Material), by Component (Epoxies, Hardeners), by Geographical Region (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa), discussing Market Summary, Industry Outlook, Market Scope, Market Definition, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Strategic Developments, Impact of Coronavirus on the Industry, Drivers, Restraints, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

Triton Market Research, in its report on the Global Epoxy Resins Market, has put forth that this industry is likely to develop at a CAGR of 5.04% over the forecasting duration of 2021-2028.

Major changes have been witnessed in the paints & coatings industry over the last couple of decades, and the adoption of new coating technologies is one of them. Coatings serve two main functions, protection and decoration. Epoxy resins help enhance paints and coatings-based products. The growing demand for paints and coatings is thus significantly driving the growth of the epoxy resins market. However, the fluctuation in raw material prices is one of the biggest factors hindering this growth process.

The market in the Asia-Pacific is the largest in the global epoxy resins market, and is expected to uphold its position in the years to come. The rapid rate of industrialization in the emerging economies of the region, and the surging demand for infrastructure are estimated to increase the market's growth. The presence of fast-growing economies makes the APAC one of the most lucrative destinations for companies in the automobile, aerospace, and electrical & electronics industries, among others. As these sectors largely employ epoxy resins, their growth significantly benefits the epoxy resins market.

Nan Ya Plastics, DuPont, Kukdo Chemical Co Ltd, Jubail Chemical Industries Company Limited, Cytec Industries Incorporation (Solvay), Aditya Birla Chemicals Ltd, Momentive Performance Materials Holdings LLC, BASF, Huntsman Corporation, Chang Chun Plastics Co Ltd, Clariant AG, 3M Company, Sinopec Baling Co, and Dow Chemicals are the eminent names operating in this market.

Though there is a growing demand for epoxy resins, a large number of players wanting to enter the market find it difficult to do so, due to factors such as increasing prices of raw materials. Also, big names like Du Pont, BASF SE, 3M Company, etc., are already present in the market, who make huge investments in R&D. this has led to the development of high-quality products. Factors such as these make it difficult for new players to step into the market. Besides, manufacturing epoxy resins comes with numerous health risks, which further adds to the problem, and, in turn, restrains the market growth.

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This release was published on openPR.