Epoxy Resin Market to Grow at a CAGR of 6.4 % in the Forecast Period of 2024-2030

The Epoxy Resin Market size was valued at US$ 7.34 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 6.4% through 2024 to 2030, reaching nearly US$ 11.33 Bn.

Epoxy Resin Market Overview:

The Epoxy Resin Market is gaining remarkable traction as industries continue to embrace high-performance, thermosetting polymers across a wide spectrum of applications. Used predominantly in coatings, adhesives, composites, and electronics, epoxy resins are prized for their superior mechanical strength, chemical resistance, and bonding capabilities.

According to Maximize Market Research, the market is projected to witness robust growth by 2030, driven by increasing demand across automotive, construction, wind energy, and consumer electronics industries.

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Epoxy Resin Market Dynamics

Market growth is being fueled by rising infrastructure projects, a boom in electric vehicles, and surging demand for lightweight composite materials. The rapid industrialization of emerging economies and stringent environmental regulations are shifting the industry toward low-VOC, bio-based epoxy systems.

Additionally, advancements in resin formulation-such as UV-curable and waterborne epoxies-are opening new pathways for innovation and sustainability. These dynamic forces are reshaping supplier strategies and pushing manufacturers to invest in R&D for customized and high-performance resin solutions.

Epoxy Resin Market Outlook and Future Trends :

From 2024 through 2030, the epoxy resin market is expected to scale new heights, with demand surging in Asia-Pacific, North America, and Europe. Green chemistry is gaining momentum, with eco-friendly epoxy alternatives projected to dominate future developments. Meanwhile, the renewable energy sector-especially wind energy-is set to become a major growth engine, where epoxy resins play a critical role in manufacturing turbine blades. Aerospace and electronics applications are also forecasted to see a spike in demand due to increased focus on lightweight and thermally stable materials.

Key Recent Developments

In the United States, Huntsman Corporation expanded its epoxy resin production facilities to cater to rising demand in aerospace and electronics, while also collaborating with startups focused on bio-based resins. Europe continues to lead in sustainability-driven innovation, with Germany's BASF and Italy's SIR Industriale investing in recyclable epoxy systems tailored for wind energy and automotive applications.

Japan has made significant strides in epoxy resin R&D, with Sumitomo Bakelite Co. developing high-thermal-conductivity resins for next-gen electric vehicles. In South Korea, LG Chem partnered with construction firms to supply advanced epoxy coatings for smart infrastructure projects. Singapore launched a government-funded initiative to promote green epoxy manufacturing among local SMEs, particularly for marine coatings and electronics.

In Vietnam, domestic resin producers like TPC VINA have entered strategic alliances with South Korean firms to establish local manufacturing hubs, aiming to reduce dependency on imports. Thailand's PTT Global Chemical is scaling up its epoxy resin production capacity, driven by demand from the automotive and electrical sectors, and has recently acquired a stake in a European firm specializing in specialty resins.

Epoxy Resin Market Segmentation

by Type

DGBEA
DGBEF
Novolac
Aliphatic
Glycidylamine
Others

by Physical Form

Solid
Liquid
Solution

by Application

Paints & Coatings
Adhesives
Composites
Electronic Encapsulation
Others

by End-User

Building & Construction
Transportation
General Industrial
Consumer Goods
Wind Power
Aerospace
Marine
Others

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Some of the current players in the Epoxy Resin Market are:

1.BASF SE
2.E I DuPont de Nemours and Company
3.Dow Chemical Company
4.Huntsman Corporation
5.3M Company
6.Kukdo Chemicals
7.Nan Ya Plastics Corporation
8.Hexion Inc.
9.Olin Corporation
10.Cytec Solvay Group
11.chang Chun Chemicals
12.Sanmu Group
13.Jubail Chemical Industries LLC (JANA)
14.Aditya Birla Chemicals Ltd.
15.Sika AG
16.Baling Petrochemical

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This release was published on openPR.