Market Overview
Polymerized epoxides and other compounds containing two hydroxyl groups are copolymerized to make epoxy resin, which has the properties of a thermosetting polymer. These resins are well-known for their improved performance in a wide range of industrial applications, which can be attributed to properties such as corrosion resistance, high thermal stability, superior mechanical strength, notable toughness, prolonged durability, resistance to chemicals and moisture, and superior adhesion, among others. Consequently, epoxy resins are widely used in a variety of sectors, including paints and coatings, adhesives, composite materials, and electronic encapsulation.
As a result of the huge number of end users located in the Asia-Pacific region, the region commanded the biggest market share in 2019. With the latter accounting for about 60.1% of the total, Asia-Pacific and Europe accounted for 74.1 percent of the total in 2019. Large compound annual growth rates of 7.5% and 7.3% are predicted for LAMEA and NA throughout the projection period. By 2028, the combined share of these two groups is expected to rise to 26.7 percent.
Key Market Segments
- By physical Form
- Solid
- Liquid
- Solution
- By Type
- DGBEA (bisphenol A & ECH)
- DGBEF (bisphenol F &ECH)
- Novolac (formaldehyde & phenols)
- Aliphatic (aliphatic alcohols)
- Glycidylamine (aromatic amines & ECH)
- Others
- By Application
- Paints & Coatings
- Adhesives & sealants
- Composites
- Electronic Encapsulation & Others
- Others
- By End Use Industry
- Building &construction
- Transportation
- General industrial
- Consumer goods
- Wind energy
- Aerospace
- Marine
- By Region
- North America
- U.S
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- North America
Key Market Players
- BASF SE
- Atul Ltd.
- Dow Inc.
- Hexion Inc.
- Huntsman Corporation
- Kukdo Chemicals Co. Ltd.
- Nan Ya Plastics Corporation
- Olin Corporation
- Solvay SA
- Techstorm Advanced Materials
Epoxy Resin Market generated earnings of approximately 9.1 (USD Billion) in 2021 and is expected to generate revenues of approximately 14.7 (USD Billion) by 2028, registering a compound annual growth rate (CAGR) of nearly 6.8 percent between 2022 and 2028, according to a study conducted by Zion Market Research.
