Press release
Epoxide Market Set to Reach $95.21 Billion by 2028 Driven by Electric Vehicles and Infrastructure Resilience
Epoxide Market Report
Epoxide Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $95.21 billion In 2028 At A CAGR Of 6.4%:
The epoxide market size has grown strongly in recent years. It will grow from $70.08 billion in 2023 to $74.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to industrial applications, material science advancements, construction and infrastructure growth, automotive sector expansion, consumer electronics boom.
The epoxide market size is expected to see strong growth in the next few years. It will grow to $95.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to electric vehicles (EVs) surge, biocompatible materials, infrastructure resilience, advanced electronics manufacturing, circular economy initiatives. Major trends in the forecast period include renewable energy technologies, biobased epoxides, high-performance applications, technological advancements, collaborations and partnerships.
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Epoxide Market Major Segments
The epoxide market covered in this report is segmented -
1) By Type: Ethylene Oxide, Propylene Oxide
2) By Component: Epoxies, Hardeners
3) By Application: Coated Fabric, Wire and Cable, Flooring and Wall Coverings, Film and Sheet, Medical Devices, Consumer Goods, Other Applications
Key Driver - Epoxide Market Growth Fuelled By Surging Soap Demand
The rise in the demand for soap and soap products is expected to propel the growth of the epoxide market going forward. Soap refers to a salt of fatty acid that is used in a variety of cleansing and lubricating products. Soap products such as detergents, gels, and others are used for washing and cleaning. Ethylene epoxide is used as a base material in the manufacturing of soaps. This helps to increase the potential hydrogen (PH) levels in soap. For instance, according to data published by The Observatory of Economic Complexity (OEC), a Brazil-based data visualization website, In 2021, global trade data revealed a $2.3 billion market for Soaps for purposes other than toilet soap, solid, with China leading as the top exporter at $603 million and the United States as the leading importer at $322 million. Despite a -12.2% export growth between 2020 and 2021, Soaps for purposes other than toilet soap, solid maintained a 0.011% share of world trade, showcasing ongoing international demand for these products. Therefore, the rise in demand for soap and soap products is driving the growth of the epoxide market.
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Prominent Trend -
Product innovation is a key trend gaining popularity in the epoxide market. Major companies operating in the epoxide sector are concentrating on enhancing the epoxide products such as styrene-free pure and green epoxy resins to offer long service life while reducing their carbon footprint and make the process more environmentally friendly. For instance, in October 2022, Bossong SPA, an Italian producer of mechanical and chemical anchors launched E-Plus, an innovative bi-component styrene-free pure epoxy resin. E-Plus is earthquake resistant and a green chemical anchor designed to fulfill the requirements of the construction industry while also reducing the environmental impact. It offers a long 100-year service life, which is twice the life of standard resins with fire resistance. It can used with wood, masonry, and concrete in various temperatures due to its ability of no shrinking.
Epoxide Market Players
Major companies operating in the epoxide market report are Exxon Mobil Corporation, BASF SE, Badische Anilin- und SodaFabrik, Dow Inc., Huntsman International LLC, LG Chem Ltd., 3M Company, Wanhua Industrial Group Co. Ltd., Covestro AG, Solvay SA, Nan Ya Plastics Corporation, Eastman Chemical Company, Olin Corporation, LANXESS Deutschland GmbH, Lubrizol Corporation, Daelim Co. Ltd., Daicel Corporation, ADEKA CORPORATION, Evonik Industries AG, Hexion, Ashland Global Holdings Inc., UPC Technology Corporation, KUKDO CHEMICAL CO. LTD., Mapei S.p.A., Atul Ltd., Dymax Corporation, Galata Chemicals Galata Chemicals LLC, INEOS Capital Limited, H.B. Fuller Construction Products Inc., Chang Chun Plastics Co. Ltd., Jiangsu Sanmu Group, Techstorm Advanced Materials
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Largest And Fastest Growing Region In The Market
North America was the largest region in the epoxide market in 2023. Asia-Pacific is expected to be the fastest-growing region in the epoxide market during the forecast period. The regions covered in the epoxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Epoxide Market Report Structure
3. Epoxide Market Trends And Strategies
4. Epoxide Market - Macro Economic Scenario
5. Epoxide Market Size And Growth
…..
27. Epoxide Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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