Segmentation:
Global Epoxy Resin Market Forecast is segmented by Type, Technology, Application, and End Use.
On the basis of Type, the global market has been divided into aliphatic, DGBEF, DGBEA, glycidyl amine, novolac, and others. Among these, the Diglycidil Ether of Bisphenol-F (DGBEF) segment held major share of the Epoxy Resins Market in 2018. This can be credited to its increasing use in the production of materials to be used in industries of automotive and building & construction. DGEBA is also expected to experience massive growth during the forecast period. Its durability and chemical resistance is expected to increase its application in water bottles, electronic equipment, and sports equipment.
Based on Technology, the global market has been segmented into liquid epoxy, solvent cut epoxy, waterborne epoxy, and others. The Liquid Epoxy Resin held largest market share owing to increasing application in paints & coatings. Waterborne Epoxy Resins are estimated to be the fastest-growing segment due to its increasing use in powder coating applications.
End Uses of Epoxy Resins are applicable to the sectors of marine, building & construction, automotive & transportation, aerospace, electrical & electronics, and others. The building & construction sector is expected to lead the market to reach a value of USD 2,696.2 Million till 2025. This is on account of increasing infrastructure development globally. The automotive industry is predicted to exhibit the highest CAGR due to increasing use of Epoxy Resin-Based materials for manufacturing parts of automobiles. For instance, close to 27,600 tons of resins were used on passenger cars in Europe.
Competitive Outlook:
Dow, Kolon Industries, Inc, Aditya Birla Chemicals, Huntsman International Llc, Nan Ya Plastics Corporation, Spolchemie, Kukdo Chemical Co., Ltd, Macro Polymers, China Petrochemical Corporation, Ciech S.A., Olin Corporation, Atul Ltd, Hexion, and Chang Chun Group are prominent names in the Global Epoxy Resins Market.
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Regional Analysis:
Geographically, Global Epoxy Resin Market has been segregated into Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East & Africa
North America is expected to dominate the global market till 2025 owing to the need for refinishing coatings in the U.S. This can be attributed to the upkeep of classic cars and procurement of second-hand cars by consumers. Development of renewable generation plants for sustainability can warrant the need for epoxy based resins.
APAC can be a substantial region for the Global Epoxy Resins Market due to demand for epoxy paints and coatings in China and India. This can be credited to rapid urbanization which is beckoning for the procurement of homes and vehicles. Large disposable income levels of customers are one of the biggest drivers of the market. Japan and Taiwan have a respectable share of the market owing to the fledging electrical and electronics sector.
Industry Analysis:
Epoxy Resins are chemicals which can be reacted to form polymers. Also known as ethoxyline resins, they can provide adhesion to various substrates, provide chemical and solvent resistance, and offer impact resistance and flexibility to end products. Global Epoxy Resins Market Report by Market Research Future (MRFR) comprises pertinent growth enablers and challenges for the period of 2019 to 2025 (forecast period).
Market Scope:
Global Epoxy Resins Market Size is expected to touch USD 7,699.6 million by 2025. It can display a CAGR of 5.38% over the forecast period. Massive demand of epoxy resin based composites in the automotive sector and expansive growth of the construction sector are major drivers of the global market. Adhesion to metals and high thermal resistance and mechanical strength are properties inducing its demand in automobiles. Strong resistance and adhesion of these resins can find application in the paints & coatings sector.
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