Global Epoxy Resin Market is expected to reach ~USD 15 Bn by 2028F: Ken Research
Global Epoxy Resin Market By End-User
The Global Epoxy Resin market is segmented by End-user into Building & Construction, Transportation, Consumer Goods, Wind Energy, Aerospace, Marine and Others.
The Consumer goods segment held the largest segment share in 2022, owing to the rapid adoption of advanced epoxy resin in electronics products such as smart home appliances, smartphones, gaming devices, laptops, and other demands are increasing with the growing economy & population.
The fastest-growing segment in the epoxy resin industry is aerospace owing to the rapid adoption of advanced epoxy resin products and the surge in the production of aircraft, jets, and others.
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Global Epoxy Resin Market By Geography
The Global Epoxy Resin market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
The Asia Pacific accounted for the largest share among all regions within the global epoxy resin market in 2022.
Asia-Pacific dominates the epoxy resin market due to the rapid industrialization and rise in demand from various industries such as building & construction, automotive, marine, aerospace, and others.
Asia-Pacific is the leading producer of epoxy resin, attributed to increasing alliances between leading players that help with new products in the market.
The rising number of infrastructure development projects and the rapidly growing manufacturing industry are the key factors expected to drive the market over the forecast period.
Competition Scenario In Global Epoxy Resin Market
The Global Epoxy Resin Market is highly competitive with ~300 players which include globally diversified players, regional players as well as a large number of country-niche players. Most of the country-niche players are the suppliers of raw materials used in the manufacturing of epoxy resin, used for different applications.
Some of the major players in the market include 3M, BASF SE, Huntsman International LLC, Hexion, The Dow Chemical Company, China Petrochemical Corporation, KUKDO CHEMICAL CO., LTD, Solvay, Olin Corporation., among others.
The leading global specialist companies such as BASF SE, Solvay, China Petrochemical Corporation are highly focused on providing a significant number of Epoxy Resin products that can be used across Paints & Coatings, Electronics, Adhesives industries and more.
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What Is The Expected Future Outlook For The Overall Global Epoxy Resin Market Across The Globe?
The Global Epoxy Resin market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Epoxy Resin market is driven by the rapid industrialization and rise in demand from the building and construction industries. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Epoxy Resin market is changing rapidly. For instance, In November 2021, Hexoin Inc. announced its definitive agreement with Westlake Chemical Corporation. Hexion Inc. sold Hexion’s global epoxy business for approximately USD 1.2 Bn to Westlake Chemical Corporation Company. The transaction was completed in the first half of 2022.
In October 2021, Azelis Holding S.A. announced their distribution agreement with BASF for the sales of resin products from the company.
The collaboration boosted the company’s lateral value chain by adding market-leading products to its various market segments.
Furthermore, On April 1, 2021, Covestro AG successfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The acquisition helped Covestro in the expansion of its portfolio of sustainable coating resin products.
The Global Epoxy Resin Market witnessed a dip in growth for the year 2020, owing to the COVID pandemic. There was a complete ban on imports and export that disrupted the supply chain and hampered the market globally. However, the market condition is expected to get better in 2022, thereby restoring growth over the forecast period. The market is primarily driven by the rapid industrialization and growing demand for epoxy resins from building & construction, coatings, adhesives, and other industries. Though the market is highly competitive with over ~300 participants, few global players control the dominant share and regional players also hold a significant share.
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Key Topics Covered in the Report
- Snapshot of Global Epoxy Resin Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Epoxy Resin Market
- Historic Growth of Overall Global Epoxy Resin Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Epoxy Resin Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- Covid-19 Impact on the Overall Global Epoxy Resin Market
- Future Market Forecast and Growth Rates of the Total Global Epoxy Resin Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of Global Epoxy Resin Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
Major Companies Mentioned in the Report
- 3M
- BASF SE
- Huntsman International LLC
- Hexion
- The Dow Chemical Company
- Kukdo Chemical Co., Ltd
- Solvay
- Olin Corporation
- China Petrochemical Corporation
- Aditya Birla Management Corporation Pvt. Ltd.
- Kolon Industries, Inc
Notable Emerging Companies Mentioned in the Report
- Jubail Chemical Industries LLC
- Macro Polymers
- NAMA Chemicals
- Techstorm
- Spolchemie
- Jiangsu Sanmu Group Co., Ltd.
- DIC Corporation
- Atul Ltd
- NAGASE & Co., Ltd.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Epoxy Resin Manufacturers
- DGBEA Raw Materials Suppliers
- DGBEF Raw Materials Suppliers
- Novolac Raw Materials Suppliers
- Aliphatic Raw Materials Suppliers
- Glycidylamine Raw Materials Suppliers
- Solvent Cut Epoxy Technology Manufacturers
- Liquid Epoxy Technology Manufacturers
- Waterborne Epoxy Technology Manufacturers
- Epoxy Resin Distributors
- Emerging and Startup Epoxy Resin Companies in the Market
- Government Departments of Polymers and Other Chemicals
- Ministries and Departments of Paint & Coating
- Ministries and Departments of Construction Materials
- Importers and Distributors of Epoxy Resin
- Chemicals Testing and Regulatory Authorities
- Chemicals Research Institutes
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
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