2023 Epoxy Resin Global Market | Insights, Industry Outlook, Growing Trends And Top Key Players Sika AG, Olin Corporation, Huntsman International LLC, Kukdo Chemical, Aditya Birla Chemicals, 3M
As per the Epoxy Resin market report by The Business Research Company, the rising demand for epoxy resin from the automotive industry is expected to propel the growth of the epoxy resin market. The automotive industry refers to the design, manufacturing, and selling of motor vehicles that uses epoxy resin to paint the body of automobiles. The use of epoxy resin as a protective coating extends the life of automobiles. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based international trade organization, in 2021, automobile production increased globally by 3%, from 77.8 million produced in 2020 to 80.14 million in 2021. An increase in the production of automobiles increases the need for epoxy resins. Therefore, the rising demand for the automotive industry drives the epoxy resin market.
The global epoxy resin market size grew from $10.64 billion in 2022 to $11.55 billion in 2023, at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The epoxy resin market size is expected to grow to $15.77 billion in 2027 at a CAGR of 8.1%.
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Major competitors in the Epoxy Resin market include Sika AG, Olin Corporation, Huntsman International LLC, Kukdo Chemical, Aditya Birla Chemicals, 3M, Sinopec Corporation, Nan Ya Plastics Corporation, Chang Chun Group, BASF SE, Atul Ltd., Solvay SA, Covestro AG, Jiangsu Sanmu Group Co., Ltd., Jubail Chemical Industries LLC, Kolon Industries Inc., NAGASE & CO LTD., and Techstorm.
The Epoxy Resin market is segmented -
• By Type: DGBEA (Bisphenol A And ECH), DGBEF (Bisphenol F And ECH), Novolac (Formaldehyde And Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines And ECH), Other Types
• By Physical Form: Liquid, Solid, Solution
• By Application: Paints And Coatings, Composites, Adhesives And Sealants, Other Applications
• By End-User: Building And Construction, Automotive, Large And Heavy Vehicles And Railroads, General Industrial, Consumer Goods, Wind Power, Aerospace, Marine, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Epoxy Resin market.
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Epoxy resin refers to a kind of polymer and prepolymer that is reactive and contains epoxide groups. In the presence of catalysts, these resins either react with one another or with several co-reactants such amines, phenols, thiols, etc. These are used to increase strength, durability, chemical resistance, and adhesion.
The Table Of Content For The Epoxy Resin Market Include:
1. Executive Summary
2. Epoxy Resin Market Characteristics
3. Epoxy Resin Market Trends And Strategies
4. Epoxy Resin Market - Macro Economic Scenario
5. Epoxy Resin Market Size And Growth
28. Key Mergers And Acquisitions In The Epoxy Resin Market
29. Epoxy Resin Market Future Outlook and Potential Analysis
The "Global Epoxy Resin Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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