Epoxy Resin Market Size, Share, Growth Analysis, By Physical Forms (Liquid, Solid), By Raw Materials (BADGE, BFDGE), By Applications (Paints & Coatings, Composites), By End-use (Building & Construction, Automotive), By Region - Industry Forecast 2025-2032


Report ID: SQSG15A2048 | Region: Global | Published Date: November, 2024
Pages: 157 |Tables: 130 |Figures: 77

Epoxy Resin Market Insights

Epoxy Resin Market size was valued at USD 12.1 Billion in 2023 and is poised to grow from USD 12.72 Billion in 2024 to USD 18.92 Billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).

Epoxy resins are a group of prepolymers and polymers that, when combined with hardeners or curing agents such polyamines, aminoamides, or phenolic chemicals, provide a robust, long-lasting material that may be utilised in both industrial and consumer applications.

Epoxies are used in a wide range of goods and innovations that improve energy efficiency and lower greenhouse gas emissions. Epoxy technological advancements are necessary for a variety of renewable energy sources to become more effective, including wind, solar, natural gas, new battery technologies, and others. By enhancing the durability of structural components, engineering adhesives, and paints, epoxy resins used in building and construction applications can help extend the useful life of buildings and reduce the need for renovation and repainting. Since the 1950s, epoxy resins have been used in food packaging to protect food and beverages from the metal used to produce cans. Tennis rackets, skis, golf clubs, hockey sticks, fishing rods and poles, kayaks, and bicycles may all benefit from the lighter, stronger construction provided by epoxy resins. These factors will drive the demand for epoxy resin in the coming years.

US Epoxy Resin Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2025-2032

Global Market Size

USD 11.5 billion

Largest Segment

DGBEA

Fastest Growth

paints and coatings

Growth Rate

5.1%

Global Epoxy Resin Market ($ Bn)
Country Share for Asia Pacific Region (%)
Country Share for Europe Region (%)

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Epoxy Resin Market Segmental Analysis

Global Epoxy Resin Market is segmented Physical Forms, Raw Materials, Applications, Use Industry, and region. By Physical Forms into Liquid, Solid, Solution. By Raw Materials into BADGE, BFDGE, Novolac, Aliphatic, Glycidyl amine, Others. By Applications into Paints & Coatings, Composites, Adhesives & Sealants, Others. End-use industries include Building & Construction, Automotive, General Industrial, Consumer Goods, Wind Energy, Aerospace/Aircraft, Marine, Others. Based on region, the epoxy resin market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.  

Epoxy Resin Market Analysis by Type

The DGBEA segment In terms of volume and value, dominated epoxy resin market in 2021, and it is anticipated that this dominance will last throughout the forecast period. Bisphenol A (BPA)-based epoxy resin is crucial for modern living, public health, effective production, and food safety. Due to its durability, powerful adherence, and wide range of consumer and industrial use chemical resistance, as well as unique qualities like little shrinking and moisture absorption it is intensively used in many industries. Construction, building, and the automobile industry are a few of these. Of all the varieties of epoxy resin, it is anticipated that the DGBEA sub-segment would have the greatest CAGR during the forecast period.

Epoxy Resin Market Analysis by Application

With a market share of more than 37.0 percent in 2021, the paints and coatings application segment dominated the global epoxy resin market. Due to their exceptional resistance to stains, cracks, extreme temperatures, blistering, and chemicals, epoxy resin-based paints and coatings are widely used in residential and commercial buildings, the shipbuilding industry, the automotive industry, and wastewater treatment plants among other places. They have great adhesion, strong anti-corrosion properties, and contain little volatile organic compounds (VOCs). Commercial, residential, institutional, and industrial buildings' interior and external surfaces are painted and coated using products based on epoxy resin. The use of these paints and coatings improves the visual appeal of surfaces while also shielding them from UV radiation and high temperatures so they don't peel, fade, or break. Emerging markets like Asia Pacific and the Middle East and Africa are experiencing rapid expansion in their non-residential industries, such as IT, telecom, and retail, which is driving up demand for paints and coatings.

Global Epoxy Resin Market By Application

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Epoxy Resin Market Regional Insights

Asia Pacific region held the highest global epoxy resin market share in 2021. Over the course of the projected period, the market is anticipated to be driven by increased building activity and rising demand from the automotive industry in emerging nations like India, Japan, and South Korea. Additionally, the simple accessibility of raw materials has opened up other end-use industries to the usage of epoxy resin-based products.

Asia Pacific region is also expected to register the highest growth rate during the forecast period. In 2021, China led the market in the Asia-Pacific. The two main reasons anticipated to propel the market during the projected period are the increasing number of infrastructure development projects and the quickly expanding industrial sector. Due to government measures and investment to maintain its development, the country's construction sector is projected to fare better than other Southeast Asian nations. For instance, the Chinese government authorised 26 infrastructure projects in 2019 with a projected investment of USD 142 billion, according to the National Development and Reform Commission (NDRC). Similar to this, the Communist Party of China declared in 2020 that the government is preparing to invest around USD 1.4 trillion on a public expenditure programme for digital infrastructure. Thus, rising industrialization and growing infrastructural development increases the market growth in this region.

Europe had the second largest global epoxy resin market share, followed by North America. Automotive, wind energy, and composites are driving the growth of low and high cured epoxy resins in Europe. Germany is the leading contributor to epoxy resin market growth. Innovations in automotive parts manufacturing, rising demand for sustainable chemicals in construction activities, and a thriving renewable energy industry are just a few of the factors driving epoxies demand in the region.

Increased digitization in North America is driving up demand for electrical and electronic systems. These systems use long-lasting and reliable epoxy-based components to reduce costs and improve performance. Furthermore, increased investment in public and private infrastructure projects in the United States is creating enormous opportunities for market growth. The positive growth of the food and beverage industry is paving the way for metal applications.

Global Epoxy Resin Market By Region
  • Largest
  • Fastest

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Epoxy Resin Market Dynamics

Epoxy Resin Market Driver

  • The majority of paints primarily include epoxy resin. It becomes thicker as a result, adhering to the tool being used to paint a surface. Paints can still be put on surfaces since they are not at all impossible to spread. Epoxy resin also improves the strength, durability, and resistance to corrosion of the paints. Additionally, topcoats and primers are all uses for epoxy resins. There are primarily two causes for this. The first is that epoxy resins shield materials from UV light deterioration. The second benefit is that they improve the aesthetics of the materials and objects they cover.
  • Demand for paints and coatings has been boosted by infrastructure growth and rising car manufacturing. In the upcoming years, the industry is anticipated to be driven by rising disposable income and consumer propensity to spend more. Recent years have seen a sharp growth in global automobile manufacturing as a result of expanding middle-class family demand and rising disposable income in emerging economies.

Epoxy Resin Market Restraint

  • During the anticipated period, fluctuating costs of epoxy resins' raw materials are anticipated to impede market expansion.
  • Advanced composites are expected to be unable to enter large-volume and price-sensitive sectors due to their relatively high cost and labor-intensive manufacture and therefore will act as obstacle for the market growth.

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Epoxy Resin Market Competitive Landscape

The epoxy resin market is highly competitive and fragmented. This is mostly because to the profitable industry and low entrance requirements. With each passing year, this is luring major corporations to enter the industry. Despite this, a record number of small and medium-sized businesses are beginning to enter the sector. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships in order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Epoxy Resin Market Top Player's Company Profiles

  • 3M 
  • Aditya Birla Management Corporation Pvt. Ltd. 
  • Atul Ltd 
  • BASF SE 
  • Solvay 
  • Huntsman International LLC 
  • KUKDO CHEMICAL CO., LTD. 
  • Olin Corporation 
  • Sika AG 
  • NAN YA PLASTICS CORPORATION 
  • Jiangsu Sanmu Group Co., Ltd. 
  • Jubail Chemical Industries LLC 
  • China Petrochemical & Chemical Corporation (SINOPEC) 
  • Hexion 
  • Kolon Industries 
  • Techstorm 
  • NAGASE & CO., LTD. 
  • Sinopec Corporation 
  • DIC Corporation 
  • Covestro AG 

Epoxy Resin Market Recent Developments

  • In May 2022, in order to produce material solutions for Automotive, Winter Sports, Marine, and Wind Energy applications, Hexcel created a new product line that blends Hexcel resin systems with bio-derived resin content with natural fibre reinforcements.
  • In October 2021, Azelis announced the most recent distribution deal with BASF for its resins line in Vietnam. Azelis is a leading innovative service provider in the specialty chemical and food additives industries. If BASF's range of resin materials enables Azelis to offer superior solutions for the CASE, printing, and packaging sectors, the agreement will go into action on November 1st, 2021. The partnerships expand the business's global cooperation with BASF into new regions while enhancing the lateral value chain of the company.

Epoxy Resin Key Market Trends

  • Today, the majority of aircraft manufacturers employ epoxy resin in their designs. A new generation of goods that are more efficient, have more creative applications, are safer for people and animals to be around, and respect the environment are now being developed and marketed by epoxy resin makers. Epoxy resins offer increased mechanical strength and strong resistance to temperature extremes. In the aircraft sector, weight reduction made possible by the use of epoxy resins is also greatly desired because it reduces fuel costs significantly. As a result, the demand for epoxy resins in the aviation and aerospace industry is anticipated to grow steadily in the coming years.

Epoxy Resin Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Epoxy Resin market analysis, architecture, engineering, and construction (AEC) market participants are seeing value-grabbing possibilities as a result of the AEC sector's explosive expansion. In terms of type, the segment of DGBEA held larger market share. This can be attributed to the excellent properties of epoxy resins such as durability, adherence, chemical resistance and moisture absorption. In terms of application, the segment of paint and coatings held the larger share of the Global Epoxy Resin market. This can be attributed to its increasing demand of epoxy based paints in construction, shipbuilding and automotive industry.

Report Metric Details
Market size value in 2023 USD 12.1 Billion
Market size value in 2032 USD 18.92 Billion
Growth Rate 5.1%
Base year 2024
Forecast period 2025-2032
Forecast Unit (Value) USD Billion
Segments covered
  • Physical Forms
    • Liquid, Solid, Solution
  • Raw Materials
    • BADGE, BFDGE, Novolac, Aliphatic, Glycidyl amine, Others
  • Application
    • Paints & Coatings, Composites, Adhesives & Sealants, Others
  • End-Use Industry
    • Building & Construction, Automotive, General Industrial, Consumer Goods, Wind Energy, Aerospace/Aircraft, Marine, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • 3M 
  • Aditya Birla Management Corporation Pvt. Ltd. 
  • Atul Ltd 
  • BASF SE 
  • Solvay 
  • Huntsman International LLC 
  • KUKDO CHEMICAL CO., LTD. 
  • Olin Corporation 
  • Sika AG 
  • NAN YA PLASTICS CORPORATION 
  • Jiangsu Sanmu Group Co., Ltd. 
  • Jubail Chemical Industries LLC 
  • China Petrochemical & Chemical Corporation (SINOPEC) 
  • Hexion 
  • Kolon Industries 
  • Techstorm 
  • NAGASE & CO., LTD. 
  • Sinopec Corporation 
  • DIC Corporation 
  • Covestro AG 
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Epoxy Resin Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Epoxy Resin Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Epoxy Resin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Epoxy Resin Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Epoxy Resin Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Epoxy Resin Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Epoxy Resin Market size was valued at USD 12.1 Billion in 2023 and is poised to grow from USD 12.72 Billion in 2024 to USD 18.92 Billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).

The epoxy resin market is highly competitive and fragmented. This is mostly because to the profitable industry and low entrance requirements. With each passing year, this is luring major corporations to enter the industry. Despite this, a record number of small and medium-sized businesses are beginning to enter the sector. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships in order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. '3M ', 'Aditya Birla Management Corporation Pvt. Ltd. ', 'Atul Ltd ', 'BASF SE ', 'Solvay ', 'Huntsman International LLC ', 'KUKDO CHEMICAL CO., LTD. ', 'Olin Corporation ', 'Sika AG ', 'NAN YA PLASTICS CORPORATION ', 'Jiangsu Sanmu Group Co., Ltd. ', 'Jubail Chemical Industries LLC ', 'China Petrochemical & Chemical Corporation (SINOPEC) ', 'Hexion ', 'Kolon Industries ', 'Techstorm ', 'NAGASE & CO., LTD. ', 'Sinopec Corporation ', 'DIC Corporation ', 'Covestro AG '

The majority of paints primarily include epoxy resin. It becomes thicker as a result, adhering to the tool being used to paint a surface. Paints can still be put on surfaces since they are not at all impossible to spread. Epoxy resin also improves the strength, durability, and resistance to corrosion of the paints. Additionally, topcoats and primers are all uses for epoxy resins. There are primarily two causes for this. The first is that epoxy resins shield materials from UV light deterioration. The second benefit is that they improve the aesthetics of the materials and objects they cover.

Today, the majority of aircraft manufacturers employ epoxy resin in their designs. A new generation of goods that are more efficient, have more creative applications, are safer for people and animals to be around, and respect the environment are now being developed and marketed by epoxy resin makers. Epoxy resins offer increased mechanical strength and strong resistance to temperature extremes. In the aircraft sector, weight reduction made possible by the use of epoxy resins is also greatly desired because it reduces fuel costs significantly. As a result, the demand for epoxy resins in the aviation and aerospace industry is anticipated to grow steadily in the coming years.

Asia Pacific region held the highest global epoxy resin market share in 2021. Over the course of the projected period, the market is anticipated to be driven by increased building activity and rising demand from the automotive industry in emerging nations like India, Japan, and South Korea. Additionally, the simple accessibility of raw materials has opened up other end-use industries to the usage of epoxy resin-based products.

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Epoxy Resin Market

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