Epoxy Resins Market, [By Formulation Type (DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, and, Others); By Application (Paints & Coatings, Adhesives, Composites, Electrical & Electronics, Wind Turbines, and Others); By Regions]: Market size & Forecast, 2018 – 2026
New York, NY -- (SBWIRE) -- 10/12/2018 -- The Global Epoxy Resins Market is expected to grow from USD 7.47 billion in 2017 to USD 12.84 billion by 2026, at a CAGR of 6.2% during the forecast period according to a study published by Polaris Market Research.
Epoxy resin is one of the largest raw materials used for different chemical product formulations. These are widely used in the manufacturing of paints, coatings, printing inks, composites, adhesives, electrical systems & electronics, aerospace applications, petrochemical products, and many others.
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The global epoxy resins market is majorly driven by the growth of end-use industries such as paints & coatings and adhesives. In the paints & coatings industry, two parts of the epoxies have been developed for heavy duty services. These epoxy compounds are applied to many formulations of protective coatings, automotive coatings, powder coatings, and many other solvent-based paints. Epoxy resins are used at such a wide array and in almost every type of paints as these have three physical forms including solid, liquid, and solution.
Modernized consumer electronics products in tandem with the growing urbanization and rising disposable income of consumers has resulted in massive demand of such products, which in turn has risen demand for epoxy resins. Increase in construction activities in many countries and revamping of the older structures coupled with consumer demand for feature-rich coatings has mainly driven the demand of epoxy in paints & coatings industry.
The Epoxy Resins Market is subjected to stringent regulatory framework as epoxy resins are known to have serious environmental impact. The manufacturing & emissions are regulated by different agencies such as Environmental Protection Agency (EPA). One of the impactful restraint for the market is from solvent borne coatings that make use of epoxy as a raw material. Solvent borne paints release volatile organic compound in the environment that are known to have toxic effects.
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Technological advancements associated with these resins have also been a crucial growth factor for the epoxy resins market. One of the most recent technical developments includes bio-based epoxy resins that make use of natural sources. Despite the market constitutes of numerous growth factors, it is curtailed by few restraints such as fluctuating raw material prices, threat from substitutes, and health hazards associated with few epoxy types such as Bisphenol A (BPA).
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Epoxy Resins Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Competitive Landscape and Key Vendors
Asia Pacific is the largest region for the epoxy resins market with China as the major player that continues to grow at a steady rate. The region has wide growth prospects as China is a major producer for coatings with the largest production of powder coatings in the world. The region has also witnessed growth in many epoxy resin end-use industries from its developing countries such as Indonesia, India, and others.
Global epoxy resins market is highly competitive and fragmented on account of large number of market players. Some of the major industry players include DowDupont, BASF SE, 3M, Huntsman Corporation, Aditya Birla Chemicals, Covestro, Sika AG, Hexion, and Olin.
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- Paints & Coatings
- Electrical & Electronics
- Wind Turbines
- Other Applications
About Polaris Market Research
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