Epoxy Resin Market To Reach USD 12.5 Billion By 2027 | CAGR 6% — Forencis Research
Global Epoxy Resin Market: Key Highlights
- According to the new market research report “Epoxy Resin Market by Form (Solid, Liquid), by Type (Bisphenol Epoxy Resins, Aliphatic Epoxy Resins, Novolac Epoxy Resins and Halogenated Epoxy Resins), by Application (Paints and Coatings, Food & Beverages, Transport, Construction, Consumer Application, Marine and Others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) — Global Forecast (2019 to 2027)”, the global Epoxy Resin market is projected to reach a value of over USD 12.5 billion with a CAGR of 6% in the forecast timespan
- Epoxy resin is the special class of thermoset synthetic resin containing one or more epoxies groups
- It is used in manufacturing adhesives, sealants, composites, flooring products, electronics, and many other applications
- Epoxy resin is used across construction, electronics and electrical systems, paints & coatings industries
Global Epoxy Resin Market: Key Market Dynamics
- Growing construction sector across the globe owing to rise in disposable income, growing trend of nuclear families, is pushing the market adoption in the paints and coatings.
- Expanding application areas including transport, solar power, decoration of the epoxy resins is boosting the market growth
- Volatile price of the raw material (epichlorohydrin) may hinder the market growth
- Adaptation of the bio-based epoxy resin is likely to create new opportunity for the market growth
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Global Epoxy Resin Market: Regional Overview
- North America
Continuous demand for remodeling activities is driving the demand for epoxy resins in North America. Increasing the demand for coatings and finishes especially in North America for the residential construction segment is favoring the market growth. Strong demand coupled with rising construction costs, further favored by increased private sector investment, supports the adoption of the resins across different construction activities.
Asia-Pacific is the promising region for the epoxy resin market. Growing demand for specialty paints and coatings especially in the automotive and construction sector is driving the market growth in the Asia-Pacific region. In past few years, remarkable growth in the construction sector, an outcome of the rising population, the growing trend of a nuclear family, rise in disposable income, higher preference to modern and luxurious lifestyle is further propelling the market growth.
Global Epoxy Resin Market: Key Players Overview
- Olin Corporation:
Olin Corporation is the one of the prominent manufacturer of the epoxy. The company was established in the 1892 with strong presence over 20 countries. Olin Corporation servce diverse rangeof industries including power generation, electronics, transporation, consumer goods, and construction. The company operates through Chlor Alkali Products and Vinyls, Epoxy and Wincheste business segment. Epoxy segment comprises of allylics, aromatic compounds, liquid and epoxy resins.
- BASF SE:
BASF SE is a German-based company engaged in the manufacturing of the specialty chemicals. The compnay majorly operates through six business segment namely chemicals, industrial solutions, nutritional & care, materials, surface technologies, and agricultural solutions. In 2018, BASF strengthens collaboration with the Grolman in the Europe region. Through this partnership, the Grolman expands the marketing of the BASF specialty chemicals under the Baxxodur brand to the European countries such as Italy, Spain and Portugal for use in the epoxy resin-based applications.
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