The global epoxy resin market size is expected to reach USD 10.22 billion by 2029 according to a new study by Polaris Market Research. The report “Epoxy Resin Market Share, Size, Trends, Industry Analysis Report By Formulation Type (DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, Others); By Application (Paints & Coatings, Adhesives, Composites, Electrical & Electronics, Wind Turbines, Others); By Region, Segments & Forecast, 2021 - 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global epoxy resin industry is expected to expand significantly over the projected period due to rising industrialization and advancements in electronic and electric devices. It is widely employed in chemical compounds, creating a niche industry for a variety of industrial uses. Epoxy resins are utilized in a variety of applications, including ornamental floors, fabric uses for dentistry and surgical procedures, printing dyes, and so on.
Furthermore, the expanding commercial intake of digital and electric devices in emerging nations such as China and India are expected to fuel the market growth. Epoxy resins have also established a strong presence in the paints and coatings sector. They provide two key benefits: protection and adornment.
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Paints & coatings are used in a variety of sectors for a variety of objectives. Some examples are primer tie coats, anti-corrosive primers, friction-resistant coatings, fire and retardant coatings, and chemical coatings. Epoxy resins possess favorable properties such as high thermal stability, mechanical strength, resistivity, adhesion, electrical, mechanical, and heat resistance, making them ideal for laminates, jewelry, and insulators. The coatings are widely known for their use in the manufacture of Printed Circuit Boards (PCBs).
The rapid conglomeration and urbanization of the world have led to the development of the electronics industry with the manufacture and design of such electronic products leading to the growth of epoxy resins. Key market players are operating in the global market include Aditya Birla Chemicals, 3M, Atul Ltd (India), Ciech S.A., China Petrochemical Corporation, Chang Chun Group, Covestro AG, Dow, Huntsman International LLC, Hexion, Olin Corporation, Kolon Industries, Macro Polymers, Kukdo Chemical Co., Ltd, Nan Ya plastics corporation, and Spolchemie.
These players are adopting different approaches to gain major market share. For instance, Aditya Birla Chemicals Thai Ltd confirmed the purchase of Recyclamine Technology from Connora Innovations in July 2019. Connora Technologies produces recycled devices that rely on Recyclamine, a revolutionary patented polyamine synthesis system.
Polaris Market Research has segmented the epoxy resin market report on the basis of type, application, and region:
Epoxy Resins Type Outlook (Volume - Kilotons, Revenue – USD Million, 2017 - 2029)
Epoxy Resins Application Outlook (Volume - Kilotons, Revenue – USD Million, 2017 - 2029)
Epoxy Resins Regional Outlook (Volume - Kilotons, Revenue – USD Million, 2017 - 2029)