Epoxy Resin Market Analysis Current Landscape and Future Outlook 2024

According to Precision Business Insights (PBI) latest report epoxy resin market size was valued at USD 12,739.7 million in 2023 and is anticipated to grow at a CAGR of 3.6% over 2024-2030. The automotive industry is a significant consumer of epoxy resin materials due to their excellent chemical properties include mechanical strength, adhesion to metals and heat resistance. Epoxy resins are applied in the automotive, as coatings, adhesives and as part of reinforced composite materials. Additionally, emerging applications in sectors like aerospace, wind energy, electronics are gaining traction and contributing to the growth of the epoxy resin market Furthermore, some recent trends including increasing demand for sustainable and environmentally friendly epoxy resin materials and growing need for lightweight materials in aerospace and automotive industries are shaping the epoxy resin market.

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The epoxy resin market is segmented based on physical form, types, application, and geography.
Based on the Physical Form, the market is segmented into the following:
• Solid
• Semi-Solid
• Liquid
• Ohers

Based on the Types, the market is segmented into the following:
• Cancer Research
• Bisphenol Epoxy Resins
• Aliphatic Epoxy Resins
• Novolac Epoxy Resins
• Halogenated Epoxy Resins
• Epoxy Resin Diluents
• Glycidylamine Epoxy Resins
• Others

Based on the Application, the market is segmented into the following:
• Paints and Coatings
• Adhesives
• Industrial Tooling and Composites
• Wind Turbine Technology Composites
• Electrical Systems and Electronics
• Food Packaging
• Petroleum and Petrochemical
• Consumer and Marine Applications
• Automotives
• Construction Applications
• Aerospace Applications
• Biology
• Art
• Others

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Paints and Coatings Segment is expected to dominate the Epoxy Resin Market
Global epoxy resin market is segmented into, paints and coatings, adhesives, industrial tooling and composites, wind turbine technology composites, electrical systems and electronics, food packaging, petroleum and petrochemical, consumer and marine applications, automotives, construction applications, aerospace applications, biology, art, and others based on application. The sector for paints and coatings is anticipated to have the largest market share of these. The paint and coatings industry extensively uses epoxy resins because of their outstanding adhesion, chemical resistance, and durability. Epoxy resins are utilised as protective and long-lasting coatings, industrial coatings, ornamental paints, anti-corrosive primers, and abrasion- and fire-resistant coatings in this Paints & Coatings application area. In addition, epoxy resins are used in a variety of sectors, including electrical and electronics, automotive, construction, aerospace, biology, and others, which supports the expansion of the epoxy resin market.

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Global epoxy resin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific epoxy resin market is anticipated to lead in the forecasting years primarily owing to rising numbers of industries such as automotive, construction, healthcare, electronics, and packaging, The availability of cost-effective labor, favorable government policies, and increasing disposable income contribute to market growth. Moreover, Europe epoxy resin market is also witnessing significant growth due to a strong presence of a key manufacturers and a well-established infrastructure. Moreover, There is a growing focus on sustainability, leading to increased demand for bio-based and recyclable epoxy resins, which further accelerate the growth of the epoxy resins market.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Epoxy resin market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

Key player's profiles in the epoxy resin market are allnex, Aditya Birla Chemicals, Borealis, Olin Corporation, Solvay SA, Park Aerospace, SINOPEC, Huntsman, Swancor, Hexion, Mitsui Chemicals, Nan Ya Plastic Corporation, Techstorm Advanced Materials, BASF SE, Dow, Inc., Kukdo Chemocals Co., Ltd.

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This release was published on openPR.