What Is The Size Of Global Epoxy Resin Industry?
Global Epoxy Resin market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 15 Bn by 2028.
The Epoxy Resin Market is largely driven by the rapid industrialization and rise in demand from the building and construction industries.
The growing construction industry is expected to augment the growth of the paints and coatings industry. In 2021, the government of Europe planned to construct around 1.5 million housing units. Similarly, the growth in construction activities in countries like Russia, France, the United Kingdom, etc., is expected to drive the growth of the epoxy resin market.
For instance, according to the National Development and Reform Commission (NDRC), in 2019, the government of China approved 26 infrastructure projects with a total expected investment of USD 142 billion. Similarly, in 2020, the Communist Party of China announced that the government is planning around USD 1,400 Bn for a digital infrastructure public spending program.
Epoxies are made with petroleum-based basic ingredients like BPA (Bisphenol A) and ECH (Epichlorohydrin). Thus, changes in the crude oil price have a considerable impact on the pricing of these many raw materials, as well as the basic costs of epoxy resin. Price fluctuations have a detrimental influence on profit margins, particularly for small-scale producers, which hampers the growth of the market.
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Global Epoxy Resin Market by Raw Material
The Global Epoxy Resin market is segmented by Raw Material into DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine and Others.
DGBEF segment held the largest market share of the Global Epoxy Resin Market in 2022, as it improves thermal stability, has strong mechanical properties, and provides moisture resistance. It is used extensively across multiple end-user industries such as building & construction and automotive.
DGBEF is Diglycidyl Ether Bisphenol F, a reaction product of phenol and formaldehyde. This type of epoxy resin is sold as liquids and solid resin dissolved in solvent and prepregs.
DGBEF performs better in resisting chemical attack as compared to other types, owing to its higher density of cross-links.
Global Epoxy Resin Market By Physical Farm
The Global Epoxy Resin market is segmented by Physical farm into Solid, Liquid and Solution.
The liquid form segment held the largest market share of the Global Epoxy Resin Market in 2022. The reason behind the largest share of this segment is a wide area of applications in almost all industries.
Epoxy resin in liquid form prevents corrosion and as a sealant, it protects surfaces, including pipelines, metal, floors, countertops, and equipment parts.
It is often found in transistors and electrical circuits to protect parts from moisture, dirt, dust, and other debris that can damage materials over time.
In March 2019, Axalta launched liquid epoxy-based casting resin system, Voltacast 3310/Voltacast H134. The launch of products expanded the Voltacast product portfolio of casting resins from Axalta’s Energy Solutions business.
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Global Epoxy Resin Market By Technology
The Global Epoxy Resin market is segmented by Technology into Solvent Cut Epoxy, Liquid Epoxy, Waterborne Epoxy and Others.
The liquid epoxy segment dominated the epoxy resin industry in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2028.
This is due to the rapid industrialization and rise in demand for consumer electronics, flourishing the market during the forecast period. The liquid epoxy resin has been used for years as it possesses superior quality and has strong resistance power to corrosion, chemical, heat, and others.
Hence, the growing application of liquid epoxy technology in various end-use industries will positively impact the market.
Global Epoxy Resin Market By Application
The Global Epoxy Resin market is segmented by Application into Paints & Coatings, Wind Turbines & Composites, Construction, Electrical & Electronics, Adhesives & Sealants and Others.
The paint & coatings segment held the largest market share of the Global Epoxy Resin Market in 2022, resins are widely utilized in residential & commercial buildings, shipbuilding industries, automotive, and wastewater treatment plants among others owing to their excellent resistance to stains, cracks, extreme temperatures, blistering, and chemicals.
Epoxy paints are used to impart enhanced finish to the concrete floor. They are increasingly used in the automotive, electrical, flooring, and marine industry owing to their quick drying and tough nature.
Key Topics Covered in the Report
- Snapshot of Global Epoxy Resin Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Epoxy Resin Market
- Historic Growth of Overall Global Epoxy Resin Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Epoxy Resin Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- Covid-19 Impact on the Overall Global Epoxy Resin Market
- Future Market Forecast and Growth Rates of the Total Global Epoxy Resin Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Epoxy Resin Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Major Companies Mentioned in the Report
- BASF SE
- Huntsman International LLC
- The Dow Chemical Company
- Kukdo Chemical Co., Ltd
- Olin Corporation
- China Petrochemical Corporation
- Aditya Birla Management Corporation Pvt. Ltd.
- Kolon Industries, Inc
Notable Emerging Companies Mentioned in the Report
- Jubail Chemical Industries LLC
- Macro Polymers
- NAMA Chemicals
- Jiangsu Sanmu Group Co., Ltd.
- DIC Corporation
- Atul Ltd
- NAGASE & Co., Ltd.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Epoxy Resin Manufacturers
- DGBEA Raw Materials Suppliers
- DGBEF Raw Materials Suppliers
- Novolac Raw Materials Suppliers
- Aliphatic Raw Materials Suppliers
- Glycidylamine Raw Materials Suppliers
- Solvent Cut Epoxy Technology Manufacturers
- Liquid Epoxy Technology Manufacturers
- Waterborne Epoxy Technology Manufacturers
- Epoxy Resin Distributors
- Emerging and Startup Epoxy Resin Companies in the Market
- Government Departments of Polymers and Other Chemicals
- Ministries and Departments of Paint & Coating
- Ministries and Departments of Construction Materials
- Importers and Distributors of Epoxy Resin
- Chemicals Testing and Regulatory Authorities
- Chemicals Research Institutes
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
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