Global Epoxy Resin Market Analysis by Share, Growth Rate, SWOT Analysis, Segmentation and Forecast 2023 to 2030 | BASF SE, Huntsman Corporation, The Dow Chemical Company

The Global Epoxy Resin Market was valued at US$ 42.03 Bn 2022, exhibiting a CAGR of 6.5% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 69.69 Bn by 2030.

Market Overview:

Epoxy resins are advanced thermosetting polymers which provide superior mechanical, adhesive and electrical properties. They are used in various applications including industrial coatings, composites, adhesives, and electrical laminates.

Market Dynamics:

Epoxy resins find widespread applications in the construction industry, mainly for flooring, coatings, and structural adhesives. The growing construction industry globally is expected to increase the demand for epoxy resins during the forecast period. According to the Global Construction 2030 report, the global construction industry is projected to grow by 85% to $15.5 trillion worldwide by 2030. In addition, epoxy resins exhibit high chemical and heat resistance which makes them suitable for use in industrial applications like automotive, aerospace and electronics. The growth of these end-use industries is further expected to propel the epoxy resin market growth over the forecast period 2023-2030.

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Major market players included in this report are:

★ BASF SE
★ Huntsman Corporation
★ The Dow Chemical Company
★ 3M Company
★ DuPont
★ Aditya Birla Chemicals Ltd (Thailand)
★ Momentive Specialty Chemicals Inc
★ Nan Ya Plastics Corporation
★ Kukdo Chemical Ltd.
★ NAMA Chemicals

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Application:
✦ Paint and Coatings
✦ Wind Energy
✦ Composites
✦ Construction
✦ Electrical and Electronics
✦ Adhesives
✦ Others

Regional Analysis:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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✤ Epoxy Resin Market Drivers

• Increasing Demand from Transportation Sector

The transportation sector has been witnessing a significant increase in demand for epoxy resins owing to its high corrosion resistance, good mechanical strength and excellent adhesion properties. Epoxy resins find wide application in making components for aircrafts, automobiles, marine vessels etc. where it is used for surface coatings, adhesives, composites and other structural applications. The growing automotive production across major economies along with rising aircraft deliveries is expected to boost the consumption of epoxy resins in this sector over the forecast period.

• Rising Infrastructural Investments in Emerging Markets

Many developing countries in Asia Pacific, Latin America, Middle East and Africa are investing heavily in building modern infrastructure including roads, bridges, buildings, airports etc. Epoxy resins play a key role in construction industry as they are used to make sturdy composites, corrosion resistant coatings, high strength adhesives and other applications. The ongoing infrastructure boom accompanied with urbanization trend in emerging economies is likely to augment the demand for epoxy resins from construction applications going forward.

✤ Epoxy Resin Market Restrain

• Stringent Environmental Regulations

Epoxy resins contain some amount of volatile organic compounds (VOCs) which emit toxic fumes and contribute to air pollution. Many countries and regions have imposed strict norms regarding the VOC content and emissions from epoxy resin formulations. For example, REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) in European Union has placed restrictions on the concentration of hazardous substances. Similarly, US EPA has set limitations on VOCs in surface coatings. Compliance to such regulations compel manufacturers to invest in new production techniques and reformulate product offerings, raising prices.

✤ Epoxy Resin Market Opportunity

• Growing Wind Energy Market

With rising global focus on renewable and clean energy sources, the wind energy sector is witnessing strong expansion worldwide. Epoxy resins serve as ideal matrix resins for manufacturing wind turbine blades as they impart high mechanical strength, corrosion resistance and excellent adhesion properties. Majority of large wind turbine blades currently use epoxy composites. Further investments in onshore as well as offshore wind farms across regions like Europe, Americas, China and India are anticipated to drive incremental demand for epoxy resins from this promising end-use industry.

✤ Epoxy Resin Market Trends

• Increasing Adoption of Bio-Based Epoxy Resins

To make production more sustainable and environment-friendly, manufacturers are actively exploring bio-based alternatives to traditional petroleum-derived epoxy resins. With advancements in green chemistry technologies, natural resources like vegetable oils, plant extracts and bio-polyols are now being used for developing bio-epoxy resins with comparable performance. The growing consumer preference for green products along with stringent governmental pressure to reduce carbon footprint has prompted epoxy players to diversify their portfolio with bio-based product variants. This emerging trend of bio-epoxies is expected to shape the future dynamics of global epoxy resin market.

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Key Questions

• How much revenue will the global Epoxy Resin Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall Epoxy Resin Market?

• What are the indicators expected to drive the global Epoxy Resin Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Epoxy Resin Market to expand their geographical presence?

• What are the major advancements witnessed in the global Epoxy Resin Market?

• This report answers these questions and more about the global Epoxy Resin Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Epoxy Resin Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle East and Africa

Chapter No. 4: Company Profiles

4.1 Company Overview
4.2 Financial elements
4.3 Product Landscape
4.4 SWOT Analysis
4.5 Systematic Outlook

Chapter No. 5: Assumptions and Acronyms

Chapter No. 6: Research Methodology

Chapter No. 7: Contact (Continue . . .)

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