The global epoxy resin market is
expected to reach USD 14.26 billion by 2024, according to a new report
by Grand View Research, Inc. The market is anticipated to be driven by
end-use industries including automotive, aerospace, transportation,
composites, decorative coatings, construction, industrial & marine
coatings, electrical & electronics, especially in Asia Pacific.
Epoxy resins are the most preferred thermoplastics for manufacturing
composite materials owing to their superior properties as compared to
other materials.
Huge production capacities of epichlorohydrin and bisphenol
A, especially in China, ensure consistent raw material supply. However,
fluctuating raw material prices negatively impact the profitability of
epoxy manufacturers. The popularity of alternative resins such as
polyamide, PET, unsaturated polyester resin, etc. is likely to curtail
the market share of epoxy resins in upcoming years.
The paints & coatings is estimated to emerge as the
leading application segment. Market penetration can be attributed to
demand from construction, automotive and industrial applications.
Composites segment is expected to witness highest growth rate owing to
increasing demand for high strength lightweight composite materials from
automotive, aerospace and defense industries.
Asia Pacific is estimated to emerge as the largest as well
as the fastest growing region over the forecast period. The growth in
this region can be attributed to increasing demand for these resins in
paints & coatings and composites.
Major players in the market such as Huntsman Corporation,
Olin, BASF SE, etc. have high-level integration throughout the value
chain. These players have expanded their operation base from resin
production to manufacturing end use products such as adhesives,
coatings, and composites.
To request a sample copy or view summary of this report, click the link below: http://www.grandviewresearch.com/industry-analysis/epoxy-resins-market
Further key findings from the report suggest:
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Composites is expected to be the fastest growing application segment
and is estimated to register a CAGR of 6.1% from 2016 to 2024 in terms
of volume
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Europe is estimated to be the second largest region, and the demand
is expected to be valued at USD 2,281.6 million in 2024. Regional growth
can be attributed to increasing composites demand from auto and
aerospace sectors
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Nan Ya Plastic Corporation, Olin Corporation, Sanmu Group, Momentive
Performance Material Holding LLC, Kukdo Chemical and Aditya Birla
Chemicals Ltd. together account for over 50% of the global production
capacity.
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Epichlorohydrin derived from glycerin is among the most dominant raw materials used in the production of epoxy resins
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Major market players focus to integrate throughout the value chain,
to achieve profitability and also expand their presence in emerging
markets
Grand View Research has segmented the epoxy Resin market on the basis of application and region:
Global Epoxy Resins Application Outlook (Volume, Kilo Ton; Revenue, USD Million, 2014 - 2024)
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Paints & coatings
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Wind turbine
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Composites
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Construction
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Electrical & electronics
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Adhesives
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Others
