Press release
Epoxy Resin Market Size, Insights, Outlook, Overview And Market Research Report 2024-2033
Epoxy Resin Market
The Business Research Company offers in-depth market insights through Epoxy Resin Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The epoxy resin market size has grown strongly in recent years. It will grow from $11.65 billion in 2023 to $12.72 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to construction boom, automotive sector growth, electronics manufacturing, infrastructure development, stringent environmental standards.
The epoxy resin market size is expected to see strong growth in the next few years. It will grow to $17.99 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to advanced electronics, biocompatible materials, circular economy initiatives, globalization and trade, electric vehicles (EVs) surge. Major trends in the forecast period include renewable energy technologies, emerging applications in 3D printing, growing demand in wind energy sector, rising popularity of waterborne epoxy resins, increased usage in electronics and electrical applications.
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Market Segmentation:
The epoxy resin market covered in this report is segmented -
1) 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
2) By Physical Form: Liquid, Solid, Solution
3) By Application: Paints And Coatings, Composites, Adhesives And Sealants, Other Applications
4) By End-User: Building And Construction, Automotive, Large And Heavy Vehicles And Railroads, General Industrial, Consumer Goods, Wind Power, Aerospace, Marine, Other End-Users
Major Driver - Automotive Industry's Demand Boosts Epoxy Resin Market Growth
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 Organization 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.
Competitive Landscape:
Major companies operating in the epoxy resin market report are China Petroleum & Chemical Corporation (Sinopec), Badische Anilin- und Sodafabrik, The Dow Chemical Company, Mitsubishi Chemical Corporation, Minnesota Mining and Manufacturing Company, Evonik Industries AG, Covestro AG, Westlake Epoxy LLC, DuPont de Nemours Inc., NAN YA PLASTICS CORPORATION, Solvay S.A., Sika AG, Olin Corporation, Huntsman International LLC, Atul Ltd, Daicel Corporation, Hexion Inc., Ashland Global Holdings Inc., Jiangsu Sanmu Group Co. Ltd., Allnex Belgium SA/NV, NAMA Chemicals, Kukdo Chemical Co. Ltd., Magnolia Epoxy, Mapei S.p.A., DIC India Limited, SPOLCHEMIE - Chemické závody a.s., Kemipex FZE, Aditya Birla Chemicals (India) Limited, Scott Bader Company Ltd., Chang Chun Plastics Co. Ltd., Aliancys AG
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Top Trend - Leading Epoxy Resin Companies Focus On Advanced Resin Technology Solutions
Major companies operating in the epoxy resin market are focused on developing innovative solutions such as epoxy-based resin technology. Epoxy-based resin technology refers to the use of epoxy resins as the primary component in the formulation of various materials and products. For instance, in July 2021, Toray Composite Materials America, Inc., a US-based composite materials manufacturer launched the 'Epoxy-based 2700 Prepreg System'. This patented high-performance resin technology is tailored for upcoming aerospace initiatives. It meets the rigorous structural design requirements of the aerospace industry and facilitates the production of high-quality, cost-effective composite parts at scale.
The Table Of Content For The Market Report 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
…..
27. Epoxy Resin Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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