Flexible Epoxy Resin Market Research Report – Forecast to 2030

Flexible Epoxy Resin Market Information: by type (urethane modified, rubber modified, dimer acid), application (primer, composites, adhesives, semiconductors), end-use industry (paints & coatings, construction, automotive, Electrical & Electronics) - Forecast till 2030

ID: MRFR/CnM/4551-HCR | February 2021 | Region: Global | 100 pages

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Flexible Epoxy Resin Market Overview



According to the latest research report, The
Flexible Epoxy Resin Market size is expected to develop at a significant rate during the forecast timeframe, owing to the product's sturdiness, humidity and chemical stability, and other characteristics. Flexible epoxy resins are created by adding big groups into the molecular chains, increasing space among crosslinks in the resin. As a result, these resins are superior adjustable stiffness, good adhesion qualities, quick curing time, endurance, moisture-resistant dependability, and chemical resistance. However, their poor hydrolytic stiffness and durability are used as modifiers in conjunction with some other epoxy resins.


Paints & coatings applications are driving the worldwide flexible epoxy resin market's growth because of its exceptional qualities, including low viscosity, great endurance, and chemical resistance. Floor coating, primer, storage tank linings, and binder coating are all examples of applications utilised for these characteristics. There has been a significant rise in the demand for flexible epoxy resin as a composite component in various building projects worldwide. Sales volume is predicted to rise as a result of increased industrialisation in nations like India, China, the United Arab Emirates, and Saudi Arabia. Moisture and corrosion resistance, flexibility and longevity are all factors driving the rising demand for automotive-related products. Electronics production, which is expected to lead the worldwide market over this evaluation time, would also benefit from these features. However, according to NESHAP and CARB rules, the market expansion may be impeded.


This report contains all the information on the global Flexible Epoxy Resin Market analysis and its strengths. In addition, the report also includes the culmination of dynamics, segmentation, key players, regional analysis, and other essential factors. And a detailed analysis of the global Flexible Epoxy Resin Market forecast for 2030 is also included in the report.


 Covid 19 Analysis


During the projection period, the expanding requirement from the construction sector, as well as the increasing need for electronics products, would be the most critical drivers driving the market examined. On the other hand, a negative impact of the COVID-19 pandemic is creating adverse circumstances in the market, which is preventing the market from expanding.


Market Dynamic


Drivers


The rising requirement for repairs and maintenance operations in various applications such as maritime, architecture, railway transit, etc., as well as growing expenditures by multiple firms in developing nations, as well as quality products innovation efforts, are some of the significant drivers of the worldwide flexible epoxy resin expansion plans.


Opportunities


Some of the primary reasons contributing to the expansion of the worldwide flexible epoxy resin industry can be ascribed to rising demand from end-use sectors such as coatings and adhesives, composite, and other similar applications.


Restraints


On the other hand, the adverse health effects are expected to be the most significant factor limiting the development of the flexible epoxy resin market value.


Challenges


On the other side, the instability of raw resources and stringent laws governing the manufacture of epoxy resin are just a few of the challenges that the worldwide flexible epoxy resin industry must overcome in order to thrive.


Cumulative Growth Analysis


Paints and coatings account for most of the global flexible epoxy resin industry's application segmentation. Depending on their composition, these sorts of colours and layers may be used for various purposes, including metal, leather, glassware, wood, and a variety of other materials. It is composed of a pigment in a liquid medium that, when dried on a surface, forms an opaque film as a result of the polymerisation, which might also incorporate the solvent evaporation existing in the varnish or other chemical processes, like oxidation process, among other factors.


Value Chain Analysis


According to the reports, The worldwide flexible epoxy resin market is categorised based on the kind of resin used, the application, the end-use industry, and the geographical location. Rubber modified and dimer acid are the two main types of flexible epoxy resin worldwide. The market is categorised into semiconductors, adhesives, primers, electrical laminates, composites, and other products based on their use in various applications. Paints and coatings, automotive, construction, electrical and electronics, military and defence, and others are the end-user industries that the market is split into.


Segmentation Overview


The market is segmented based on the kind of resin used, the application, the end-use industry, and the geographical location. As a result, the global flexible epoxy resin market trends are expected to witness decent growth during the forecast period.


By Application


The application is segmented into semiconductors, adhesives, primers, electrical laminates, composites, and other products based on the application.


By end-users


The market is segmented into paints and coatings, automotive, construction, electrical and electronics, military and defence, and others based on the propulsion types.


Global Flexible Epoxy Resin, by the End-use Industry (%)


 Flexible Epoxy Resin


Source: MRFR analysis


Regional Analysis


According to the reports, In terms of geography, the worldwide flexible epoxy resin industry can be divided into 5 regions: Asia Pacific; North America; Europe; Latin America; the Middle East and Africa; and Other. A strong market from vital end-use sectors such as paints and coatings, automobiles, and the building was driving the Asia Pacific flexible epoxy resin industry, with countries like India, Japan and China among those leading the charge.


With increased demand from the army & defence and automotive sectors, North America surpassed the Asia Pacific as the world's second-biggest regional market for flexible epoxy resins in 2016. Another element contributing to the market's expansion is the ongoing rehabilitation work in the area. Furthermore, it is anticipated that the European market would develop significantly as a result of increasing product needs from producers of different automobile components across the province, particularly in Western European nations such as Germany, the United Kingdom and France, among others.


Latin America is expected to see a massive rise as a result of the expansion of the automobile industry in Mexico. In addition, the real estate boom in the Gulf Cooperation Council (GCC) nations, along with rising industrialisation, is predicted to stimulate product sales throughout the Middle East and Africa.


Competitive landscape


These are the leading companies in the worldwide flexible epoxy resin market that are presently ahead of the competition. Currently, the sector is experiencing tough rivalry from a proliferation of small-scale suppliers, which is eating away at worldwide flexible epoxy resin market share levels.


However, some of the market trends that have been seen include new launches, mergers, expansions, and more. For example, Hexion presented an improved epoxy resin system EPIKOTETM Resin TRAC 06605 at the JEC World 2017 composites show in Paris when it comes to high-performance automobile composites. Lightweight automotive composite elements, including flooring, hood inners, battery enclosures, seat structures, spare wheel tub, and many others, are made using this material, which has minimal volatile organic compound emissions.


Major Key Players



  • Olin Corporation (U.S.)

  • Hexion (U.S.)

  • Kukdo Chemical Co., Ltd. (South Korea)

  • Aditya Birla Chemicals (India)

  • Huntsman International LLC (U.S.)

  • DIC CORPORATION (Japan)

  • Emerald Performance Materials (U.S.)

  • EPOXONIC (Germany)

  • Spolchemie (Czech Republic)

  • Cardolite (U.S.)

  • Atul Ltd. (India)

  • INTERTRONICS (Oxfordshire)

  • Conren Ltd. (U.K)

  • Mereco Technologies (U.S.)

  • Resoltech (France).


Report Overview


The following report comprises of –



  • Market overview 

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints 

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview 

  • By Application 

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Recent Developments


July 2021 – A prominent innovator and provider of advanced composite prepreg and carbon fiber materials, Toray Composite Materials America, Inc., disclosed the introduction of Toray 2700. Epoxy-based 2700 is a patented, high-performance resin technology geared toward the growing aerospace programs. The latest product fulfills all the rigorous aerospace structural design drivers and allows cost-effective high volume and high-quality composite parts.

The latest adaptive and flexible material is the correct fit as growing aerospace programs shift from prototype to high volume production. The Vice President of Aerospace Sales at Toray said that they have heard from their customers and the centered requirements of their production systems. With the latest 2700 family of products, the company is launching a simplified solution, which satisfies the high demands of both process and performance flexibility.

The Final product configurations of 2700 comprise several Torayca® unidirectional carbon fibers and numerous other glass fibers or woven carbon. This prepreg press cures within 5 minutes and is drapable, allowing the quick manufacturing of parts with complicated structures. It offers outstanding all-around structural properties and low void content.

FER Market, By Type:



  • Urethane Modified

  • Rubber Modified

  • Dimer Acid


FER Market, By Application:



  • Paints & Coatings

  • Composites

  • Adhesives

  • Others (tooling, electrical castings, electrical laminates, and fibers)


FER Market, By Region:



  • North America

  • Asia-Pacific

  • Europe

  • Middle East & Africa

  • South America



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   2030 : Substantial Value
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application, and End-use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Olin Corporation (U.S.), Hexion (U.S.), Kukdo Chemical Co., Ltd. (South Korea), Aditya Birla Chemicals (India), Huntsman International LLC (U.S.), DIC CORPORATION (Japan), Emerald Performance Materials (U.S.), EPOXONIC (Germany), Spolchemie (Czech Republic), Cardolite (U.S.), Atul Ltd. (India), INTERTRONICS (Oxfordshire), Conren Ltd. (U.K), Mereco Technologies (U.S.), and Resoltech (France)
  Key Market Opportunities   The product demand from the automotive industry is increasing on account of various properties
  Key Market Drivers   The growing demand for flexible epoxy resin from the paints & coatings application is driving the growth


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Frequently Asked Questions (FAQ) :

Flexible epoxy resins are manufactured by incorporating large groups in the molecular chain, which increase the distance between crosslinks.

Leading end uses of flexible epoxy resins include paints and coatings, construction, automotive, electrical and electronics, and military and defense.

Growing demand from the paints and coatings industry is likely to be the major driver for the flexible epoxy resins market.

Asia Pacific is the dominant regional market for flexible epoxy resins.

Leading players in the flexible epoxy resins market include Olin Corporation, Hexion, and Kukdo Chemical, among others.