Epoxy Resin Market Size, Share, Growth Analysis. Physical Forms (Liquid, Solid). Raw Materials (BADGE, BFDGE). Applications (Paints & Coatings, Composites, Adhesives & Sealants). End-use (Building & Construction, Automotive), By Region - Industry Forecast 2024-2031

Asia Pacific region held the highest share in the global epoxy resin market 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 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 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.