Automotive Industry's Demand Boosts Epoxy Resin Market Growth Driver: Leading Transformation in the Epoxy Resin Market in 2025

What combination of drivers is leading to accelerated growth in the epoxy resin market?
The growth of the epoxy resin market is predicted to be driven by the increasing demand for epoxy resin from the car manufacturing industry. This sector encompasses the creation, production, and marketing of motor vehicles that employ epoxy resin in their bodywork painting processes. The application of epoxy resin as a protective layer serves to lengthen the lifespan of vehicles. For instance, MarkLines, an automotive industry consultancy firm based in Japan, reported that car sales in the United States rose by 2.0% in October 2023 in comparison to the same month the previous year. There were 1,211,141 new vehicles sold in October 2023, signifying a 2.0% increase from October 2022. Hence, the upswing in demand from the car manufacturing industry is fueling the growth of the epoxy resin market.

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What is the projected compound annual growth rate (CAGR) of the epoxy resin market from 2025 to 2034, and what factors influence it?
The scale of the epoxy resin market has been experiencing robust expansion in the past few years. From $12.64 billion in 2024, it is projected to augment by 8.9% annually, reaching $13.76 billion in 2025. The exponential growth witnessed in the historical phase is a consequence of the surge in construction activities, enhancement in the automotive industry, upswing in electronics production, infrastructural development, and the implementation of rigid environmental norms.

In the coming years, the epoxy resin market size is projected to experience robust growth, increasing to a worth of $19.93 billion in 2029 with a compound annual growth rate (CAGR) of 9.7%. The anticipated uplift during this forecast period is a result of developments in electronics and biocompatible materials, initiatives for the circular economy, globalization, trade, and a surge in electric vehicles (EVs). Key emerging trends within this timeframe include advancements in renewable energy technologies, the rising employment of 3D printing, an increasing demand within the wind energy sector, the growing preference for waterborne epoxy resins along with an amplified usage in electronics and electrical domains.

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How are the latest trends influencing the growth of the epoxy resin market?
The trend of product innovation is becoming increasingly prevalent in the epoxy resin market. To consolidate their market position, many key players in the epoxy resin market are honing in on innovative product development. Hexion Inc., an American chemical manufacturing company specializing in chemical materials and performance resins, exemplified this trend. In April 2022, they introduced two new products: EPON LY Resin 1810 and EPIKURE LY Curing Agent 3801. These products are designed to reduce the yellowing of epoxy coatings on both household and commercial surfaces, enhancing performance and surface strength, mitigating air emissions, and accelerating the curing process.

What are the major segments of the epoxy resin market and their role in driving growth?
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

Subsegments:
1) By DGBEA (Bisphenol A And ECH): Standard DGBEA, Modified DGBEA
2) By DGBEF (Bisphenol F And ECH): Standard DGBEF, Modified DGBEF
3) By Novolac (Formaldehyde And Phenols): Heat-Resistant Novolac, Flexible Novolac
4) By Aliphatic (Aliphatic Alcohols): Saturated Aliphatic, Unsaturated Aliphatic
5) By Glycidylamine (Aromatic Amines And ECH): Standard Glycidylamine, Modified Glycidylamine
6) By Other Types: Specialty Epoxy Resins, Bio-Based Epoxy Resins

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Which regions are key players in the growth of the epoxy resin market?
Asia-Pacific was the largest region in the epoxy resin market in 2024. The regions covered in the epoxy resin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the epoxy resin market?
Major companies operating in the epoxy resin market include 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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What Is Covered In The Epoxy Resin Global Market Report?

•Market Size Forecast: Examine the epoxy resin market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the epoxy resin market for a structured understanding.
•Key Players Overview: Analyze major players in the epoxy resin market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the epoxy resin market.
•Segment Contributions: Evaluate how different segments drive overall growth in the epoxy resin market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the epoxy resin market.
•Industry Challenges: Identify potential risks and obstacles affecting the epoxy resin market.
•Competitive Landscape: Review strategic developments in the epoxy resin market, including expansions, agreements, and new product launches.

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