Global Epoxy Resin market

Epoxy Resin Market Size, Share, Growth Analysis, By Type(DGBEA (Bisphenol A, ECH), DGBEF (Bisphenol F, ECH)), By Form(Solid, liquid), By Application(Paints & Coatings, Composites, Sealants, Electrical & Electronics), By End use(Building & Construction, Transportation, General Industrial, Consumer Goods), By Region - Industry Forecast 2024-2031

Report ID: SQSG15A2048 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 130 | Figures: 77

Epoxy Resin Market News

  • 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.
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Epoxy Resin Market size was valued at USD 11.97 billion in 2019 and is poised to grow from USD 12.84 billion in 2023 to USD 24.31 billion by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).

Global 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. 'Huntsman Corporation', 'Olin Corporation', 'Hexion Inc.', 'BASF SE', '3M Company', 'Aditya Birla Chemicals', 'Kukdo Chemical Co. Ltd.', 'NAMA Chemicals', 'Dow Inc.', 'Atul Ltd.', 'Evonik Industries AG', 'Momentive Performance Materials Inc.', 'Sika AG', 'Mitsui Chemicals Inc.', 'Ashland Global Holdings Inc.', 'Nan Ya Plastics Corporation', 'Chang Chun Plastics Co. Ltd.', 'DIC Corporation', 'Emerald Performance Materials LLC', 'Ferro Corporation'

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 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.

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Global Epoxy Resin market

Report ID: SQSG15A2048

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