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High-Purity Epoxy Resin Global Market Report 2024 - By Share, Size, Trends, Demand, Forecast To 2033
High-Purity Epoxy Resin Market
High-Purity Epoxy Resin 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 $1.97 billion In 2028 At A CAGR Of 5.6%.
The high-purity epoxy resin market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to electronics manufacturing boom, growing aerospace industry, expansion in automotive sector, renewable energy projects, infrastructure development.
The high-purity epoxy resin market size is expected to see strong growth in the next few years. It will grow to $1.97 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to continued electronics advancements, increased demand in medical devices, focus on sustainable materials, rising wind energy installations, advancements in aerospace materials. Major trends in the forecast period include focus on bio-based epoxy resin sources, stringent quality standards and regulations, innovation in epoxy resin applications, globalization of supply chains, continuous research and development efforts.
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High-Purity Epoxy Resin Market Major Segments
The high-purity epoxy resin market covered in this report is segmented -
1) By Type: Electrical Grade, Optical Grade, Industrial Grade
2) By Application: Semiconductor Encapsulation, Electronic Components, Light Emitting Diode(LED) Packaging, Fiber Optics
3) By End-User Industry: Electronics, Aerospace, Automotive, Communication, Energy
Key Driver - Electronics Sector Expansion Fuels High-Purity Epoxy Resin Market Growth
The expansion of the electronics sector, such as semiconductors, is expected to propel the growth of the high-purity epoxy resin market going forward. The electronics sector is an industry that manufactures household electronic equipment and electrical components for various goods such as semiconductors, circuit boards, TVs, and mobile gadgets. High-purity epoxy is an excellent substitute for wood or metal materials resins and is used for semiconductor packaging assemblies that provide physical protection and mechanical strength along with several desired performance properties based on the application or the physical location of the semiconductor in the finished device. For instance, in February 2023, according to the Semiconductor Industry Association (SIA), a US-based association and advocacy organization for the semiconductor industry, sales for the global semiconductor sector reached a record-high $574.1 billion in the year 2022, up 3.3% from the $555.9 billion total for 2021. Therefore, the expansion of the electronics sector, such as semiconductors, is driving the high-purity epoxy resin market.
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Prominent Trend - Rising Popularity Of Product Innovation In High-Purity Epoxy Resin Market
Product innovation is the key trend gaining popularity in the high-purity epoxy resin market. Major companies operating in the high-purity epoxy resin market are creating revolutionary products to improve their market share. For instance, in May 2022, Hexcel Corporation, a US-based manufacturer of epoxy resins and structural materials, launched a new line of goods called HexPly Nature Range. It includes HexPly M49, M78.1-LT, and M79 bio-derived epoxy resin components that maintain exceptional properties while offering robust mechanical performance and consistent processing features. Additionally, the HexPly Nature Range offers pre-preg alternatives reinforced with natural fibers that are relatively easy to incorporate into modern manufacturing processes. They are used to develop material solutions for automotive, winter sports, marine, and wind energy applications.
High-Purity Epoxy Resin Market Players
Major companies operating in the high-purity epoxy resin market report are Dow Inc., Mitsubishi Chemical Corporation, 3M Company, Sika AG, Nan Ya Plastics Corporation, Olin Corporation, Huntsman Corporation LLC, DIC Corporation, Aditya Birla Chemicals Limited, Kolon Industries Inc., ADEKA Corporation, Nippon Kayaku Co. Ltd., Kukdo Chemical Co. Ltd., Hexion Inc., Osaka Soda Co. Ltd., Atul Ltd., TIGER Coatings GmbH & Co. KG, Momentive Inc., Reichhold LLC, Guangzhou Lushan New Materials Co. Ltd., Nanjing Hongbaoli Corp Ltd, Allnex Belgium NV, Nama Chemicals Company, Incorez Ltd., Epic Resins, Miller-Stephenson Inc., Cardolite Corporation, Leuna-Harze GmbH, Chang Chun Petrochemical Co., Shina T And C Incorporated Co. Ltd.
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Largest And Fastest Growing Region In The Market
Asia Pacific was the largest region in the high-purity epoxy resin market in 2023. The regions covered in the high-purity epoxy resin 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. High-Purity Epoxy Resin Market Report Structure
3. High-Purity Epoxy Resin Market Trends And Strategies
4. High-Purity Epoxy Resin Market - Macro Economic Scenario
5. High-Purity Epoxy Resin Market Size And Growth
…..
27. High-Purity 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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