Global Epoxy Resin Market Size, Growth and Future Outlook: Ken Research

Market Overview:

Epoxy resin refers to a type of reactive prepolymer and polymer containing epoxide groups. These resins react either with themselves in the presence of catalysts, or with many co-reactants like amines, phenols, and thiols. Epoxy resin is a type of resin with tough mechanical properties, good chemical resistance, and high adhesive strength, making it highly useful for various applications. Due to more thermal and chemical resistance than other types of resin, it has exclusive usage in making aircraft components.

The Global Epoxy Resin Market is expected to record a positive CAGR of ~7% during the forecast period (2022-2028), due to the rapid industrialization and rise in demand from the building and construction industries.

For More Information on the Research Report, refer to below links: -

https://www.kenresearch.com/business-research/global-epoxy-resin-market-outlook-2028/

Due to the adaptive nature of epoxy compounds, resins have gained recognition in several industries such as construction, automobile, aviation, electromechanical, telecommunications, energy, and others.
The growing construction industry is expected to augment the growth of the paints and coatings industry. In 2021, the government of Europe planned to construct around 1.5 million housing units. Similarly, the growth in construction activities in countries like Russia, France, the United Kingdom, etc., is expected to drive the growth of the epoxy resin market.
For instance, according to the National Development and Reform Commission (NDRC), in 2019, the government of China approved 26 infrastructure projects with a total expected investment of USD 142 billion. Similarly, in 2020, the Communist Party of China announced that the government is planning around USD 1,400 Bn for a digital infrastructure public spending program.
Epoxies are made with petroleum-based basic ingredients like BPA (Bisphenol A) and ECH (Epichlorohydrin). Thus, changes in the crude oil price have a considerable impact on the pricing of these many raw materials, as well as the basic costs of epoxy resin. Price fluctuations have a detrimental influence on profit margins, particularly for small-scale producers, which hampers the growth of the market.
The market was negatively impacted by the COVID-19 pandemic in 2021, owing to the strict regulations in several countries. This affected various industries such as paints and coatings, adhesives and sealants, electrical and electronics, and others due to supply chain disruptions, work stoppages, and labor shortages. The global pandemic caused a ban on imports-exports thereby disrupting the supply chain and hampering the market.
The demand for epoxy resin decreased in the aerospace, transportation, and marine industries, as all the industries were shut and due to this, demand for resin had been impacted negatively.

Scope of the Report:

The Epoxy Resin Market is segmented by Raw Material, Physical Form, Technology, Application, End-User, and Geography. In addition, the report also covers the market size for each of the four regions' Epoxy Resin Market. The revenue used to size and forecast the market for each segment is USD billion.

Request For Free Sample Report @https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTE3

By Raw Material
DGBEA
DGBEF
Novolac
Aliphatic
Glycidylamine
Others

By Physical Form
Solid
Liquid
Solution

By Technology
Solvent Cut Epoxy
Liquid Epoxy
Waterborne Epoxy
Others

By Application
Paints & Coatings
Wind Turbines & Composites
Construction
Electrical & Electronics
Adhesives & Sealants
Others

By End-User
Building & Construction
Transportation
Consumer Goods
Wind Energy
Aerospace
Marine
Others

By Geography
North America (USA, Canada, and Mexico)
Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)

LAMEA (Latin America, Middle East, and Africa)

Major Players
3M
BASF SE
Huntsman International LLC
Hexion
The Dow Chemical Company
Kukdo Chemical Co., Ltd
Solvay
Olin Corporation
China Petrochemical Corporation
Aditya Birla Management Corporation Pvt. Ltd.
Kolon Industries, Inc

Key Trends by Market Segment

By Raw Material:  DGBEF segment held the largest market share of the Global Epoxy Resin Market in 2021, as it improves thermal stability, has strong mechanical properties, and provides moisture resistance. It is used extensively across multiple end-user industries such as building & construction and automotive.

DGBEF is Diglycidyl Ether Bisphenol F, a reaction product of phenol and formaldehyde. This type of epoxy resin is sold as liquids and solid resin dissolved in solvent and prepregs.
DGBEF performs better in resisting chemical attack as compared to other types, owing to its higher density of cross-links.

By Physical Form: The liquid form segment held the largest market share of the Global Epoxy Resin Market in 2021. The reason behind the largest share of this segment is a wide area of applications in almost all industries.

Epoxy resin in liquid form prevents corrosion and as a sealant, it protects surfaces, including pipelines, metal, floors, countertops, and equipment parts.
It is often found in transistors and electrical circuits to protect parts from moisture, dirt, dust, and other debris that can damage materials over time.
In March 2019, Axalta launched liquid epoxy-based casting resin system, Voltacast 3310/Voltacast H134. The launch of products expanded the Voltacast product portfolio of casting resins from Axalta's Energy Solutions business.

By Application: The paint & coatings segment held the largest market share of the Global Epoxy Resin Market in 2021, resins are widely utilized in residential & commercial buildings, shipbuilding industries, automotive, and wastewater treatment plants among others owing to their excellent resistance to stains, cracks, extreme temperatures, blistering, and chemicals.

Request For Free Sample Report @https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTE3

Epoxy paints are used to impart enhanced finish to the concrete floor. They are increasingly used in the automotive, electrical, flooring, and marine industry owing to their quick drying and tough nature.
These are also used as binders for coating applications to enhance the durability of coatings for floor and metal applications.
In April 2021, Sika Group increased its concrete admixture production capacity in Qatar and began producing epoxy resins for high-quality floor coverings and adhesives. 

By Geography: The Asia Pacific accounted for the largest share among all regions within the global epoxy resin market in 2021.

Asia-Pacific dominates the epoxy resin market due to the rapid industrialization and rise in demand from various industries such as building & construction, automotive, marine, aerospace, and others.
Asia-Pacific is the leading producer of epoxy resin, attributed to increasing alliances between leading players that help with new products in the market.
The rising number of infrastructure development projects and the rapidly growing manufacturing industry are the key factors expected to drive the market over the forecast period.
Europe has the second greatest largest market share, followed by North America for the year 2021. Automotive, wind energy, and composites are driving the expansion of low and high-cured epoxy resins in Europe.
Increased digitalization in North America is driving up demand for electrical and electronic equipment. These systems employ long-lasting and dependable epoxy-based components to minimize costs and increase performance.
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 the Asia Pacific and Latin America.

Competitive Landscape

The Global Epoxy Resin Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players. Most of the country-niche players are the suppliers of raw materials used in the manufacturing of epoxy resin, used for different applications.

. Some of the major players in the market include 3M, BASF SE, Huntsman International LLC, Hexion, The Dow Chemical Company, China Petrochemical Corporation, KUKDO CHEMICAL CO., LTD, Solvay, Olin Corporation., among others.

The leading global specialist companies such as BASF SE, Solvay, China Petrochemical Corporation are highly focused on providing a significant number of Epoxy Resin products that can be used across Paints & Coatings, Electronics, Adhesives industries and more.

Recent Developments Related to Major Players and Organizations

In November 2021, Hexoin Inc. announced its definitive agreement with Westlake Chemical Corporation. Hexion Inc. sold Hexion's global epoxy business for approximately USD 1.2 Bn to Westlake Chemical Corporation company. The transaction was completed in the first half of 2022.
In October 2021, Azelis Holding S.A. announced their distribution agreement with BASF for the sales of resin products from the company. The collaboration boosted the company's lateral value chain by adding market-leading products to its various market segments.
On April 1, 2021, Covestro AG successfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The acquisition helped Covestro in the expansion of its portfolio of sustainable coating resin products.

Conclusion

The Global Epoxy Resin Market witnessed a dip in growth for the year 2020, owing to the COVID pandemic. There was a complete ban on imports and export that disrupted the supply chain and hampered the market globally. However, the market condition is expected to get better in 2022, thereby restoring growth over the forecast period. The market is primarily driven by the rapid industrialization and growing demand for epoxy resins from building & construction, coatings, adhesives, and other industries. Though the market is highly competitive with over ~300 participants, few global players control the dominant share and regional players also hold a significant share.

Note: This is an On-Demand/Planned report, so the figures quoted here for market size estimate, forecast, growth, segment share and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.

Key Topics Covered in the Report

Snapshot of Global Epoxy Resin Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Epoxy Resin Market
Historic Growth of Overall Global Epoxy Resin Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Epoxy Resin Industry
Overview, Product Offerings, and Strength & Weakness of Key Competitors
Covid-19 Impact on the Overall Global Epoxy Resin Market
Future Market Forecast and Growth Rates of the Total Global Epoxy Resin Market and by Segments
Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Epoxy Resin Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Major Companies Mentioned in the Report

3M
BASF SE
Huntsman International LLC
Hexion
The Dow Chemical Company
Kukdo Chemical Co., Ltd
Solvay
Olin Corporation
China Petrochemical Corporation
Aditya Birla Management Corporation Pvt. Ltd.
Kolon Industries, Inc

Notable Emerging Companies Mentioned in the Report

Jubail Chemical Industries LLC
Macro Polymers
NAMA Chemicals
Techstorm
Spolchemie
Jiangsu Sanmu Group Co., Ltd.
DIC Corporation
Atul Ltd
NAGASE & Co., Ltd.

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Epoxy Resin Manufacturers
DGBEA Raw Materials Suppliers
DGBEF Raw Materials Suppliers
Novolac Raw Materials Suppliers
Aliphatic Raw Materials Suppliers
Glycidylamine Raw Materials Suppliers
Solvent Cut Epoxy Technology Manufacturers
Liquid Epoxy Technology Manufacturers
Waterborne Epoxy Technology Manufacturers
Epoxy Resin Distributors
Emerging and Startup Epoxy Resin Companies in the Market
Government Departments of Polymers and Other Chemicals
Ministries and Departments of Paint & Coating
Ministries and Departments of Construction Materials
Importers and Distributors of Epoxy Resin
Chemicals Testing and Regulatory Authorities
Chemicals Research Institutes

Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022-2028F

For More Information on the Research Report, refer to below links: -

https://www.kenresearch.com/business-research/global-epoxy-resin-market-outlook-2028/

Follow Us

https://www.linkedin.com/company/2775089/admin/

https://www.instagram.com/kenresearch/

https://www.facebook.com/kenresearch

https://twitter.com/KenResearch

https://www.youtube.com/c/KenResearchKen

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.