The Epoxy Resin Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Epoxy Resin Global Market Report 2024, The epoxy resin market size has grown strongly in recent years. It will grow from $11.65 billion in 2023 to $12.72 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to construction boom, automotive sector growth, electronics manufacturing, infrastructure development, stringent environmental standards.
The epoxy resin market size is expected to see strong growth in the next few years. It will grow to $17.99 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to advanced electronics, biocompatible materials, circular economy initiatives, globalization and trade, electric vehicles (EVs) surge. Major trends in the forecast period include renewable energy technologies, emerging applications in 3D printing, growing demand in wind energy sector, rising popularity of waterborne epoxy resins, increased usage in electronics and electrical applications.
The rising demand for epoxy resin from the automotive industry is expected to propel the growth of the epoxy resin market. The automotive industry refers to the design, manufacturing, and selling of motor vehicles that uses epoxy resin to paint the body of automobiles. The use of epoxy resin as a protective coating extends the life of automobiles. According to the Organization Internationale des Constructeurs d’Automobiles (OICA), a France-based international trade organization, in 2021, automobile production increased globally by 3%, from 77.8 million produced in 2020 to 80.14 million in 2021. An increase in the production of automobiles increases the need for epoxy resins. Therefore, the rising demand for the automotive industry drives the epoxy resin market.
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The epoxy resin market covered in this report is segmented –
1) By Type: DGBEA (Bisphenol A And ECH), DGBEF (Bisphenol F And ECH), Novolac (Formaldehyde And Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines And ECH), Other Types
2) By Physical Form: Liquid, Solid, Solution
3) By Application: Paints And Coatings, Composites, Adhesives And Sealants, Other Applications
4) By End-User: Building And Construction, Automotive, Large And Heavy Vehicles And Railroads, General Industrial, Consumer Goods, Wind Power, Aerospace, Marine, Other End-Users
Major companies operating in the epoxy resin market are focused on developing innovative solutions such as epoxy-based resin technology. Epoxy-based resin technology refers to the use of epoxy resins as the primary component in the formulation of various materials and products. For instance, in July 2021, Toray Composite Materials America, Inc., a US-based composite materials manufacturer launched the ‘Epoxy-based 2700 Prepreg System’. This patented high-performance resin technology is tailored for upcoming aerospace initiatives. It meets the rigorous structural design requirements of the aerospace industry and facilitates the production of high-quality, cost-effective composite parts at scale.
The epoxy resin market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- China Petroleum & Chemical Corporation (Sinopec)
- Badische Anilin- und Sodafabrik
- The Dow Chemical Company
- Mitsubishi Chemical Corporation
- Minnesota Mining and Manufacturing Company
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