Epoxy Resin Market on Track to Reach $21.29 Billion by 2034, Growing at 6.0% CAGR

Epoxy Resin Market
The global epoxy resin market size was valued at USD 11.90 billion in 2024. It is anticipated to generate an estimated revenue of USD 21.29 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust CAGR of 6.0% over the forecasted timeframe, 2025-2034.

Market Overview
Epoxy resin is a flexible and excessively adhesive substance utilized in woodworking, construction, and manufacturing industries. Its outstanding bonding attributes, resistance to chemicals and moisture, and capacity to endure average temperatures make it a go-to option for several applications. From generating a waterproof barricade to heat aversion and elevated robustness, epoxy resins are in high demand.

Epoxy resins can be utilized internally and commercially and are obtainable in varied grades with differing fragility. It consists of two parts and is normally assorted in a 2:1 or 4:1 resin-to-hardener ratio. The constructive standards of epoxy resins involve firmness, chemical aversion, and robust adhesion. It is also utilized in electronic components, such as fiber optics and electrical circuit boards.

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Market Drivers
Growing Ecological Consciousness: The growing ecological awareness among consumers and regulatory systems notably pushes the advancement of green and low VOC formulations. For instance, in the US, the Environmental Protection Agency (EPA) controls the exterior release of volatile organic compounds (VOCs) essentially to diminish the configuration of tropospheric ozone, a critical constituent of photochemical smog.

Rising Usage in Automotive and Aerospace Industries: The automotive and aerospace industries are encountering notable growth, pushed by an escalating significance on weightless and economical designs to encounter strict ecological directives and growing consumer anticipations. Epoxy resins are utilized in structural constituents, panels, and adhesives, decreasing vehicle load while sustaining security and presentation standards in the automotive industry.

Epoxy Resin Market Report Highlights
• In terms of type, in 2024, the DGBEA (Diglycidyl Ether of Bisphenol A) segment accounted for the largest epoxy resin market share due to its widespread use in high-performance applications, including coatings, adhesives, and composites.

• The paints & coatings segment, based on application, is expected to witness fastest growth during the forecast period due to increasing demand for protective coatings in various industries, including automotive, construction, and industrial manufacturing.

• In 2024, Asia Pacific accounted for the largest share of the global epoxy resin market revenue due to rapid urbanization, infrastructure development, and increasing government investments.

• The North America market is expected to register the highest CAGR during the forecast period due to increased infrastructure development.

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Key Competitors
The epoxy resin market is excessively competitive and fragmented. Some of the prominent players operating in the market include:
• 3M
• Aditya Birla Chemicals
• Atul Ltd
• BASF SE
• Ciech S.A.
• China Petrochemical Corporation
• Covestro AG
• Dow
• Hexion
• Huntsman International LLC
• Olin Corporation

Regional Analysis
The Asia Pacific epoxy resin market led the global market share in 2024 is driven by swift industrialization, urbanization, and the rise end-use industries such as automotive, construction, and electronics. For instance, as per the India Brand Equity Foundation, in April 2024, the generation of passenger vehicles three-wheelers, two-wheelers, and quadricycles aggregated 2.36 million units.
North America is expected to witness the fastest growth due to rising concentration on progressive infrastructural development, advancement of lightweight substances for economical vehicles, and growing demand for superior composites in aerospace applications.
• North America
o Type Outlook
 DGBEA
 DGBEF
 Novolac
 Aliphatic
 Glycidylamine
 Hardener
o Application Outlook
 Paints & Coatings
 Wind Turbine
 Composites
 Construction
 Electrical & Electronics
 Adhesives
 Others

• Europe
o Type Outlook
 DGBEA
 DGBEF
 Novolac
 Aliphatic
 Glycidylamine
 Hardener
o Application Outlook
 Paints & Coatings
 Wind Turbine
 Composites
 Construction
 Electrical & Electronics
 Adhesives
 Others

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Segmental Division
Epoxy Resin Market, Type Outlook (Revenue - USD Billion, 2020-2034)
• DGBEA
• DGBEF
• Novolac
• Aliphatic
• Glycidylamine
• Hardener

Epoxy Resin Market, Application Outlook (Revenue - USD Billion, 2020-2034)
• Paints & Coatings
• Wind Turbine
• Composites
• Construction
• Electrical & Electronics
• Adhesives
• Others

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