Press release
High-Purity Epoxy Resin Market Poised to Hit $2.13 Billion by 2029 with Accelerating Growth Trends
High-Purity Epoxy Resin
High-Purity Epoxy Resin Market Size Growth Forecast: What to Expect by 2025?
In recent times, the high-purity epoxy resin market has seen robust growth. The market size is projected to increase from $1.57 billion in 2024 to $1.66 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The historic growth in this market can be credited to the expansion in electronic manufacturing, rapid development in aerospace industry, the growing automotive sector, projects in renewable energy, and progress in infrastructure development.
How Will the High-Purity Epoxy Resin Market Size Evolve and Grow by 2029?
In the coming years, the market size for high-purity epoxy resin is anticipated to experience significant growth, reaching $2.13 billion by 2029 with a compound annual growth rate (CAGR) of 6.4%. The predicted growth during the forecast period can be traced back to ongoing advancements in electronics, increasing demand within the medical devices sector, emphasis on environmentally friendly materials, an upswing in wind energy installations, and progress in aerospace materials. Major trends expected in the forecast period encompass an emphasis on epoxy resin sources derived from bio-based materials, rigid quality standards and regulations, innovation related to epoxy resin applications, the internationalization of supply chains, and constant exploration and investment in research and development.
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What Drivers Are Propelling the Growth of High-Purity Epoxy Resin Market Forward?
The growth of the high-purity epoxy resin market is anticipated to be fueled by the expansion of the electronics industry, including semiconductors. The electronics industry, which manufactures household electronic appliances and electrical parts for different items like semiconductors, circuit boards, televisions, and handheld gadgets, is crucial in this regard. High-purity epoxy serves as an excellent alternative to wood or metal materials resins and finds extensive usage in semiconductor packaging assemblies. These assemblies not only offer mechanical strength and physical protection but also deliver specific performance qualities depending on the application or semiconductor's physical placement in the final device. For instance, the Semiconductor Industry Association (SIA), a US-based representation and advocacy group for the semiconductor industry, reported that in February 2023, global semiconductor sales hit a record-breaking $574.1 billion in 2022, a 3.3% increase from the $555.9 billion in 2021. Hence, the growth of the electronics industry, such as semiconductors, is catalyzing the high-purity epoxy resin market.
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Which Emerging Trends Are Transforming the High-Purity Epoxy Resin Market in 2025?
Product innovation is emerging as the primary trend in the high-purity epoxy resin market. To enhance their market presence, leading companies in the high-purity epoxy resin market are introducing innovative products. For instance, a US firm that manufactures epoxy resins and structural materials, Hexcel Corporation, unveiled a unique product line called HexPly Nature Range in May 2022. This product line includes HexPly M49, M78.1-LT, and M79 bio-derived epoxy resin components, which while maintaining exceptional characteristics, provide strong mechanical performance and consistent processing applications. Furthermore, the HexPly Nature Range introduces pre-preg alternatives that are reinforced with natural fibers, which are relatively straightforward to integrate into contemporary manufacturing procedures. These are utilized to create material solutions for sectors such as automotive, winter sports, marine, and wind energy.
What Are the Key Segments in the High-Purity Epoxy Resin Market?
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
Subsegments:
1) By Electrical Grade: High Dielectric Strength Epoxy Resin, Low Viscosity Electrical Grade Epoxy Resin
2) By Optical Grade: Transparent Optical Grade Epoxy Resin, UV-Curable Optical Grade Epoxy Resin
3) By Industrial Grade: General-Purpose Industrial Grade Epoxy Resin, Specialty Industrial Grade Epoxy Resin
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Who Are the Key Players Shaping the High-Purity Epoxy Resin Market's Competitive Landscape?
Major companies operating in the high-purity epoxy resin market include 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.
What Geographic Markets Are Powering Growth in the High-Purity Epoxy Resin Market?
Asia Pacific was the largest region in the high-purity epoxy resin market in 2024. 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
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