Pune, India -- (SBWIRE) -- 08/23/2018 -- The Modified Epoxy Resin is widely used as paints and coatings owing to its enhanced durability and weather resistance properties, which is further demanded by building and construction, and automobile industry among others. Modified Epoxy Resin are extensively used in the electrical and electronic industry as electrical coatings, electrical laminates, and electrical castings for enhanced performance. Moreover, it is also used as a binding agent for light stone carpets, quartzite floors, and in the production of polymer concrete.

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The Global Modified Epoxy Resin Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the global market and is projected to be the fastest growing market, owing to the increasing consumption of modified epoxy resin in the construction, automobile and electronic industry among others. It is estimated that the paints and coatings application segment is set to observe the highest CAGR in the market due to growing demand from the automotive sector and construction sector. Moreover, increasing demand for electrical and electronics coupled with increased government expenditure in the infrastructural developing is likely to generate a rapid growth during the forecast period.

The North American market is expected to grow at a steady CAGR due to extensive consumption of Modified Epoxy Resin in the construction and automobile sector. The U.S. and Canada have achieved a significant place in the market due to the growing investments in the building and construction industries coupled with the increasing government spending on the development and renovation of the infrastructure.

The Middle East Modified Epoxy Resins Market is expected witness a steady growth due to the increasing construction activities in Qatar and Saudi Arabia in light of the FIFA world cup 2022 in the region.

A moderate development is achieved in the European market due to the growing adoption of the product in the automobile and aerospace industry. Moreover, the developed electronics industry is also adding fuel to the growth of the market.

Key Players

Some of the prominent players operating in the Global Modified Epoxy Resins Market are Nan Ya Plastic Corporation (Taiwan), Olin (U.S), Jiangsu sanmu group Co, Ltd (China), Hexion (U.S), Kukdo Chemical co limited (Japan), Aditya Birla Chemicals Ltd ( India). E. I. du Pont de Nemours and Company (U.S), 3M (U.S), and BASF SE (Germany), among others.

Segmentation

The Global Modified Epoxy Resins Market is segmented into product type, application, and end-user. On the basis of the product type, the market is segregated into the water-based modified epoxy resin and solvent-based Modified Epoxy Resin. The market based on the application is further categorized into paints and coatings, adhesives and sealants, composites, laminates, and others. The market by the end use industry is bifurcated into building and construction, automotive, aerospace, marine, and others.

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