Epoxy Resin Market Size Worth $20.48 Billion By 2032 | CAGR: 5.2%

The global epoxy resin market size is expected to reach USD 20.48 billion by 2032, according to a new study by Polaris Market Research. The report “Epoxy Resin Market Share, Size, Trends, Industry Analysis Report, By Type (DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, Hardener); By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market refers to the global industry producing, distributing, and utilizing epoxy resins. Epoxy resins are versatile thermosetting polymers widely used in various applications due to their excellent adhesion, high strength, chemical resistance, and durability. They are commonly used in construction, electrical and electronics, automotive, aerospace, marine, and wind energy industries.

The market has experienced significant growth due to increasing demand from construction and infrastructure development projects, the growth of the electrical and electronics sector, advancements in technology and formulations, and the emphasis on sustainable and eco-friendly materials. The Asia-Pacific region, particularly China and India, has also emerged as a major consumer and producer in the epoxy resin market.

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In recent years, there has been a notable increase in the utilization of epoxy resin, leading to an expansion in the epoxy resin industry share. This growth can be attributed to the resin's exceptional oxidation and corrosion resistance. Its elasticity as a thermoplastic resin and chemical stability provides it with a competitive edge over other resin types. The market size is further driven by the growing demand for epoxy-based materials in the transportation industry and the steady rise of the construction sector.

The increasing demand for convenient and processed food and beverages worldwide has resulted in a surge in packaging requirements in developed and developing nations. Epoxy resins find application in interior coatings, effectively extending the shelf life of canned food and drinks. These resins are instrumental in preserving the flavor, texture, and color and ensuring corrosion protection of food and beverage products.

Additionally, the escalating usage of glass packaging, which incorporates epoxy resin to prevent rust in jars and containers, significantly contributes to market growth. Stringent food safety regulations implemented by various countries also drive the demand for epoxy resin, further fueling the expansion of the market.

Epoxy Resin Market Report Highlights

• DGBEA segment accounted to hold the largest revenue share in the market. The demand for DGBEA resin in the construction and manufacturing industries is experiencing steady growth.
• Paints and coatings segment is expected to exhibit highest CAGR over the forecast period, due to their exceptional adhesion, durability, and chemical resistance, they are widely utilized in the construction, automotive, aerospace, and marine industries.
• Asia Pacific is expected to grow significantly during the forecast period, due to the construction industry's continuous expansion in India and China and robust growth in car manufacturing operations drive the increased consumption of epoxy resins in the region.
• The global key market players include 3M, Aditya Birla Chemicals, Atul Ltd (India), Ciech S.A., Chang Chun Group, China Petrochemical Corporation, Covestro AG, Dow, Hexion, Huntsman International LLC, Kolon Industries, and others.

Polaris Market Research has segmented the Epoxy Resin market report based on type, application, and region:

Epoxy Resin, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• DGBEA
• DGBEF
• Novolac
• Aliphatic
• Glycidylamine
• Hardener

Epoxy Resin, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Paints & Coatings
• Wind Turbine
• Composites
• Construction
• Electrical & Electronics
• Adhesives
• Others

Epoxy Resin, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Epoxy Resin Market Report Scope