Growth of power generation industry in developing countries along with rising need to protect concrete floors in industrial and commercial facilities to boost global HBPA epoxy resin market through 2024
According to TechSci Research report, “Global HBPA Epoxy Resin Market By Physical Form, By Application, Competition, Forecast & Opportunities, 2024”, the global Hydrogenated bisphenol A (HBPA) epoxy resin market is projected to grow from $ 1.8 billion in 2018 to $ 2.4 billion by 2024. Growth in the market is led by increasing demand for HBPA epoxy resin in industrial and E&E coating segments to protect the machines and industrial infrastructure from external weather conditions and chemical attack. Moreover, increasing urbanization and industrialization are the key factors driving demand for HBPA epoxy resin in these applications. Among applications, Electronics and Electric (E&E) is the largest application of HBPA epoxy resin. These resins are widely used in electrical casting and electrical laminates in several high-voltage electrical machines such as transformers, generators, motors, switch gears, surge accelerators, and isolators. HBPA epoxy resin is used in these machines to protect them from external weather conditions and prevent the yellowing of their surfaces. Additionally, rapid urbanization and industrialization is driving consumption of electrical machines on a commercial scale, which, in turn, is fueling demand for HBPA epoxy resin.
Browse XX market data Tables and XX Figures spread through 110 Pages and an in-depth TOC on “Global HBPA Epoxy Resin Market ”
On the basis of physical form, liquid segment is anticipated to lead global HBPA epoxy resin market during forecast period as it is easy to apply and is mainly used in flooring, adhesives, and wind power applications. Moreover, this form of resin is widely used as it caters to almost every application. Volatility in raw material prices is restraining the growth of global HBPA epoxy resin market. Most of the raw materials used in the production of HBPA epoxy resin are petroleum-based derivatives, which are vulnerable to fluctuations in commodity prices.
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“On the basis of regions, the market is segmented into Asia-Pacific, Europe, North America, South America, and Middle East and Africa. Asia-Pacific is estimated to be the largest market for HBPA epoxy resin owing to its high consumption in E&E and industrial coating applications in the region. Furthermore, HBPA epoxy resin coating provides thermal transfer, chemical resistance, and dimensional stability to the electrical products owing to its excellent adhesion and mechanical properties, which would propel its demand in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global HBPA Epoxy Resin Market By Physical Form, By Application, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global HBPA epoxy resin market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in global HBPA epoxy resin market.
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