The Global Market for Epoxy Resins is Projected to Exceed 3.5 Million Tons by 2022

Growing Focus on Versatile, Reliable, and Cost-Effective Thermoset Resins for Highly Demanding Applications Drives Demand for Epoxy Resins, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Epoxy Resins market. The global market for Epoxy Resins is projected to exceed 3.5 million tons by 2022, driven by the growing focus on versatile, reliable, and cost-effective epoxy resins in major end-use sectors, and continued investments in R&D, technological improvements and product innovations.

Epoxy resins are one of the most popular chemicals that are extensively used in major end-use applications such as paints & coatings; electrical & electronics; adhesives & bonding; construction; and composites, among others. Based on their cross-linking characteristics with curing agents, changeable physical states and other attractive properties, epoxy resins enable production of a broad range of materials with unique properties. Epoxy resins represent advanced thermosetting polymers that exhibit superior performance, versatility, reliability, and cost-effectiveness. Supported by their superior attributes of enhanced mechanical strength, thermal solidity, moisture resistance, and corrosion protection, in addition to higher resistance to chemicals than other alternatives, and higher electrical resistance, excellent adhesion, and enhanced durability and toughness even in extreme temperatures, the resins enjoy wide applications in both industrial and commercial sectors.

Healthy growth is projected for the market in the coming years driven by increasing paints and coatings demand from automotive and construction industries where epoxy resins impart the ability to dry quickly with exceptional hardness. Epoxy resins are also in high demand for composite materials production, which is emerging as an important growth area for epoxy resins in future. In composites, carbon fibers, glass fibers and epoxy resins are combined for enhanced strength. Such high strength composites are used in making windmill blades, aircrafts and also specific parts of automobiles which demand toughness. Growing interest worldwide in developing sustainable sources of energy is fueling demand for epoxy resins in manufacturing wind turbine blades that have aerodynamic efficiency leading to better generation of electricity.

Another factor that is creating enormous market demand is the expanding electronic products manufacturing where epoxy resins are used in the manufacture of printed circuit boards, generators, switchgears, motors and insulators. Increasing consumer awareness with regard to eco-friendly products and the environmental regulations that are becoming increasingly stringent are driving strong demand for sustainable, bio-based and green epoxy resins. Other important factors that are poised to benefit market prospects in the near term include growing investments in R&D; development of epoxy resins with modified formulations that exhibit improved mechanical and thermal properties; and development of low-VOC epoxy resins, among others.

As stated by the new market research report on Epoxy Resins, Asia-Pacific represents the largest and fastest growing market worldwide with a CAGR of 5.9% over the analysis period. The growth in the region is driven by factors such as steady economic gains; rapid industrialization; growth of key end-use sectors including adhesives, aerospace, automotive, coatings, electrical, electronics and paint industries;  and emergence of China as the world’s biggest epoxy resin manufacturer generating more than a third of global output.

Key players in the market include 3M Company, Adhesives Technology Corp., Aditya Birla Chemicals, Alchemie Ltd., Asahi Kasei Corporation, Ashland Inc., Atul Ltd., BASF SE, Chang Chun Plastics Co. LTD., Ciech, Cytec Solvay Group, DIC Corporation, Emerald CVC Thermoset Specialties, Epic Resins, Evonik Industries AG, Hexion Inc., Huntsman Corporation, Jiangsu Sanmu Group Corporation, KoreKote Advanced Epoxy Systems, Kukdo Chemical Co. Ltd., LEUNA-Harze GmbH, Mitsui Chemicals Inc., Nan Ya Plastics Corporation, Nano-Tech Srl, Olin Corporation, RBC Industries Inc., Reichhold Inc., Resoltech SAS, Robnor Resins Ltd., Sicomin Epoxy Systems, SIR Industriale SpA, Spolchemie A.S., and Sumitomo Bakelite Co. Ltd. among others.

The research report titled “Epoxy Resins: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends; economic drivers; major, niche and emerging end-use applications; mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in volume for major geographic regions including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, South Korea, and Rest of Asia-Pacific), Latin America, and Rest of World. Key end-use applications analyzed include Paints and Coatings (Solvent-based, Water-based, and Powder Coatings); Electrical & Electronics; Adhesives & Bonding; Construction, and Others.

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