ID: MRFR/CnM/1204-CR | September 2019 | Region: Global | 116 pages
Epoxy Resin Market is projected to record a CAGR of 5.38% to gain a monetary valuation of USD 7,699.6 Million by 2025. The use of epoxy resin has risen in recent years. The epoxy resin market share has been spurred due to its display of an elevated degree of chemical and corrosion resistance. Its flexibility in thermosetting resin and chemical resistance provides it a competitive edge compared to other kinds of resin. Additionally, factors such as the growing requirement for epoxy-based composites in the transportation industry and stable growth in the construction industry motivate the epoxy resin market size.
Due to a worldwide necessity for recovery post-COVID 19 and numerous supply restraints in important raw materials, i.e., crude, isocyanates, E.O., and BNS, there is an upsurge in raw material prices and numerous other related expenses, including freight. As a result, several suppliers are estimated to react to this crisis by increasing the prices for numerous of their construction chemical product ranges. The novel expenditures will be augmented abruptly or as present contracts permit, creating a slight deceleration in the epoxy resin market's overall development.
Increasing Demand In Paints & Coatings
The primary factor contributing to the global epoxy resin market's progress is the growing epoxy resin application in the paints and coatings industry, owing to its high corrosion resistance and strong adhesion.
Growing Demand For Epoxy-Based Composite
epoxy resins find application of the resins as a tie-coat, primer, and topcoat to avoid U.V. corrosion and decorative purposes.
Increasing Application In Aerospace
The swelling requirement for epoxy-based composites in aerospace industries is also anticipated to boost epoxy resin market development owing to the need for particular material requirements in the sector.
Fluctuating Raw Material
The unpredictable raw material values of epoxy resin are likely to burden the global epoxy resin market growth during the course of the review period.
Growing Construction Industry Increasing R&D To Produce Bio-Based Epoxy Resin
The swelling construction activities in the emergent nations of the Middle Eastern, the Asia Pacific & African regional market are further anticipated to create enormous openings for the epoxy resin producers in the forecast period.
Growing Popularity Of Alternative Resin
The mounting need to buildup commercial and military aircraft efficiently has caused high-performance structural materials that are light in weight.
On The Basis Of Type
The epoxy resin market's noteworthy share in 2018 was controlled by the Diglycidil Ether of Bisphenol-F (DGBEF) segment due to its collective use in the production of materials in more than a few industries such as automotive and building & construction. DGBEA is also projected to witness significant growth throughout the forecast period.
On The Basis Of Technology
Due to its mounting use in powder coating uses, the waterborne epoxy is appraised to be the quickest rising segment of the global epoxy resin market. The liquid epoxy resin held the principal epoxy resin market share due to increasing paints & coatings.
On The Basis Of End Use
The increasing infrastructure development worldwide has made the building & construction industry, the foremost segment, because of mounting at a sizable CAGR to attain a USD 2,696.2 Million earning until 2025. The automotive industry is another substantial segment in the global epoxy resin market, mounting at the maximum CAGR due to the collective usage of epoxy resin-based materials for producing parts of automobiles.
North American Region To Be In The Forefront Of Global Market Progress
The U.S. epoxy resin market volume by application is the principal epoxy resin market for second-hand cars, which is estimated to play a vital role in promoting the North American region's dominance. Thus, the need for epoxy resin in automotive refinish coatings is estimated to accelerate the forecast period's regional market growth.
Automotive Industry To Fortify APAC Epoxy Resin Market Position
The requirement for epoxy resin in the manufacture of paints consumed in the automotive industry is anticipated to upsurge the Asia Pacific due to growth in automobiles and individual disposable revenue in the region.
Space Race To Promote European Epoxy Resin Demand
The European Epoxy resin market's development is motivated by infrastructure expansion and the increasing aerospace industry that is projected to lift architectural coatings requirements in the region.
Infrastructure Boom To Stabilize Epoxy Resin Market Demand
In the Middle Eastern & African regional epoxy resin markets, the number of infrastructure projects is driving the demand for epoxy resin in construction applications. Moreover, the high production of electronic components, automobile parts, and aircraft drives epoxy resin requirement in making composite materials that are weightless in weight.
The outstanding players profiled in the epoxy resin market breakdown are
Frequently Asked Questions (FAQ) :
Market Research Future States that Global Epoxy Resin Market is estimated to reach USD 7,699.6 Million by 2025.
Olin Corporation (US), Aditya Birla Chemicals (India), Kolon Industries (South Korea), Inc, Atul Ltd (India), Ciech S.A. (Poland), Huntsman International Llc (US)
Building and construction industry is the leading segment, growing at a considerable CAGR to reach USD 2,696.2 Million till 2025, on account of increasing infrastructure development around the world.
Global Epoxy Resin Market is expected to register a CAGR of 5.38% during forecast period of 2019 to 2025.
Major factor contributing to the growth of the global epoxy resin market is increasing application of epoxy resin in the paints and coatings industry owing to its high corrosion resistance and strong adhesion.
Asia Pacfic is expected to dominate and hold the highest market share.