The Future of Epoxy Resin: Trends and Forecasts in Global Markets

Epoxy resin is a type of synthetic polymer formed by the interaction of an epoxide-containing chemical with a co-reactant or hardener. It is well-known for its outstanding adhesive capabilities, mechanical strength, and chemical resistance.

The Epoxy Resin Market is projected to reach USD 17.0 Billion by 2028, at a CAGR of 5.5% from USD 12.9 Billion in 2023.

Download PDF Brochure:?https://bit.ly/401LQSx?

The Epoxy resin market is driven by the demand for high-performance coatings from various industries, including building & construction, automotive, wind energy, aerospace, and marine, among other end-use industries. The epoxy resin market has experienced substantial growth in recent years, driven by the widespread adoption of epoxy resins across various industries.

“Liquid-based epoxy resin is projected to be the largest form of epoxy resin, in terms of value”

Liquid is the most used physical form of epoxy resin. Epoxy resin in its liquid form is typically a low-to-medium viscosity liquid. It is often clear or slightly amber in color. Liquid epoxy resin is commonly packaged and sold in containers such as bottles or cans. Liquid epoxy resin can be applied as a protective coating on surfaces to provide a durable and glossy finish. It is often used on floors, countertops, tabletops, and other surfaces that require high chemical resistance, abrasion resistance, and a smooth, attractive appearance.

“Composites is projected to be the fastest growing application, in terms of value.”

Epoxy resin is widely used in composite materials due to its excellent bonding properties, high strength, and durability. Composite materials are made by combining a reinforcement material, such as fiberglass, carbon fiber, or aramid fibers, with epoxy resin as the matrix material. Epoxy resin composites are utilized in the manufacturing of wind turbine blades. The combination of epoxy resin with glass or carbon fibers provides high strength, stiffness, and fatigue resistance, enabling the blades to withstand the harsh operating conditions of wind farms.

“Asia Pacific is expected to be the fastest growing market, in terms of value.”

The Asia Pacific region is a significant market for epoxy resin, driven by industrial growth, infrastructure development, and increasing demand from various end-use industries. With its large population, expanding industrial base, and rising consumer demand, the region represents a substantial market for epoxy resin. The market is expected to continue growing due to infrastructure projects, urbanization, and industrialization across countries in the region.

Inquiry Before Buying:?https://bit.ly/3Q1hKu2?

Europe is the second-largest market for epoxy resins. Europe places a strong emphasis on sustainability and environmental regulations. There is a growing demand for epoxy resin products that meet eco-friendly and low volatile organic compound (VOC) standards. Manufacturers in Europe are investing in research and development to offer greener alternatives, such as bio-based epoxy resins and water-based epoxy coatings.

The key global players in the epoxy resins market include Sinopec International Petroleum Service Corporation (China), Dow Chemical Company (US), 3M (US), Westlake Epoxy (US), DIC Corporation (Japan), Olin (US), Huntsman Corporation (US), Nan Ya Plastics Corporation (Taiwan), Kukdo Chemical Co., Ltd. (South Korea), Aditya Birla Chemicals (India), Mitsubishi Chemical Group (Japan), BASF SE (Germany) and others.

Recent Developments

• In February 2023, Huntsman introduced a new product called JEFFAMINE M-3085 amine, which is a mono-polyether amine with a higher molecular weight compared to commonly used amine variants such as JEFFAMINE M-2070 amine and JEFFAMINE M-1000 amine.
• In February 2022, Westlake Chemical Corporation announced the successful completion of its acquisition of Hexion Inc.'s global epoxy business. With this strategic acquisition, Westlake Chemical further strengthens its position in the industry and expands its capabilities in the manufacture and development of specialty resins, coatings, and composites.