The global epoxy resin market size is anticipated to reach USD 12.73 billion by 2026 growing at a CAGR of 7.5% CAGR during the forecast period according to a new study published by Polaris Market Research. The report “Epoxy Resins Market Share, Size, Trends, Industry Analysis Report By Formulation Type (DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, and, Others); By Application (Paints & Coatings, Adhesives, Composites, Electrical & Electronics, Wind Turbines, and Others); By Regions, Segments & Forecast, 2019 – 2026” provides a comprehensive analysis of present market insights and future market trends.
Epoxy resins are significant raw materials to various end-use chemical compounds where each significant molecule is attributed a unique opportunity to convert to a useful thermosetting product. The major end-user industries for epoxy resins include electronics and paints and coatings followed by adhesives, composites, wind turbines and others.
Epoxy resins find extensive use in powder coatings applied to automotive and appliances parts, in solvent-dipped coatings applied to substrates in corrosive environment and water-based coatings as electrodepositing primers in automobiles.
Epoxy resins possess favorable properties such as high thermal stability, mechanical strength, resistivity, adhesion, electrical, mechanical and heat resistance that makes it ideal choice for use in laminates, jewelry and insulators.
Epoxy coatings are widely known for their use in manufacture of Printed Circuit Boards (PCB’s). The rapid conglomeration and urbanization of the world has led to development of the electronics industry with manufacture and design of such electronic products leading to growth of epoxy resins.
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Furthermore, expansion in construction industry and complete makeover of older structures to newer structures with feature-rich coatings gaining attraction, epoxy resin has successfully revamped the paints and coatings industry.
Technological advancements in this market has been a vital factor with bio based type making use of natural sources. Restraints to epoxy resin market include constantly changing market price of raw materials, threat of substitutes and adverse health signs related to epoxy resins such as Bisphenol A (BPA).
Asia pacific market is likely to grow at a fast clip with China having been witness to rapid splurge of paints and coatings and hence the largest coatings production country in the world. Furthermore China has added facilities in the past decade essaying sharp growth.
For these reasons let out, and growth in ASEAN countries and India and China have made Asia Pacific a marked region.. North American markets are concerned over leaching and advocates lower leaches per level. Western Europe has high demand in epoxy coatings for its role in marine and maintenance coatings.
The key players in epoxy resins coating market include Dow DuPont, BASF SE, 3M, Huntsman Corporation, Aditya Birla Chemicals, and Sika AG. Huntsman Corporation, Aditya Birla Chemicals, Covestro and Hexion. Huntsman, Olin and Hexion are potentially strong western producers of epoxy resins with interest in North America and European Market.
Polaris Market Research has segmented the global epoxy resin market report on the basis of formulation type, application, and Region:
- Formulation Type Outlook (Revenue USD Millions, 2015 – 2026)
- Application Outlook (Revenue USD Millions, 2015 – 2026)
- Paints and Coatings
- Electrical and Electronics
- Wind Turbines
- Regional Outlook (Revenue USD Millions, 2015 – 2026)
- North America
- Asia Pacific
- Latin America