Epoxy resin is one of the crucial raw materials in the paints & coatings and adhesive industries due to its toughness, strong adhesion, chemical resistance, and other specialized properties. In the last couple of decades, the global paints demand increased significantly outpacing the world GDP growth due to an increase in construction activity, improving income, frequent repaint activity, and rising population. For instance, between 2004 to 2019, global paint demand grew at a CAGR of 5.5% whereas, for the same period, world GDP grew by 4.7%. Further, it is expected that the industry would showcase the same trend during the forecast period owing to increasing per-capita paint consumption in developing economies along with rising investment to boost the infrastructure sector. Since epoxy is widely used in the paints & coatings industry therefore it is expected that with the increase in paints demand, the market for epoxy resin would also grow. Further, increasing construction activities in developing economies is likely to boost the demand for adhesives, which eventually increases the consumption of epoxy resin for the manufacturing of epoxy-based adhesives.
Download Free Sample of this Report - https://univdatos.com/get-a-free-sample-form-php/?product_id=24064
According to UnivDatos Market Insights (UMI)’ research report “Global Epoxy Resin Market”, the market is expected to showcase a growth of around 7% during the forecast period. Growing end-use industries, increasing demand for epoxy-based paints & coatings products in emerging economies, and growing demand for composites are some of the key attributable factors to the growth of the market
Based on type, the market is categorized into bisphenol, aliphatic, Novolac, halogenated, and others. Among these, bisphenol held a prominent share in the market and is expected to maintain a strong position during the forecast period. This can be attributed to its strong adhesion, toughness, and chemical resistance properties owing to which it is commonly used in the manufacturing of epoxy resin. Further, bisphenol-based epoxy resins in powder coatings also provide rust resistance which is very important to ensure a structure’s durability.
Download Free Sample of this Report - https://univdatos.com/get-a-free-sample-form-php/?product_id=24064
Based on physical form, the market is categorized into solid, liquid, and solutions. Of all, liquid resin accounted for a significant share of the overall epoxy resin market in 2020. This can be attributed to its wide usage in a range of applications due to its stability for a long time while simultaneously providing superior properties such as dimensional stability during cure, chemical resistance, chemical inertness, durability, and superior adhesion. Although, it is expected that during the forecast period, the solid category would showcase significant growth due to its increasing adoption in powder coating applications.
Asia-Pacific accounted for a considerable share of the Epoxy Resin market
Asia-Pacific accounted for a prominent share in the global epoxy resin market and the trend is likely to continue for the forecast period. Factors like a large number of small paints & coatings and adhesive manufacturers in the region which continuously maintain a strong demand for epoxy resin is driving the market. Further, regional economies like China, India, Japan, Australia, and South Korea, are among the largest and fastest-growing markets for paints, composites, and adhesives due to the large size of end-users. Therefore, in order to tap the growing market, international players established their epoxy resin manufacturing facilities in the region, which again helps the industrial end-user to increase their production capacity to take the advantage of a well-connected supply chain, thereby maintaining a strong profit margin.
For More Informative Information, Please Visit Us – https://univdatos.com/report/epoxy-resin-market/
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global epoxy resin market include Olin Corporation, Aditya Birla Chemicals, Nan Ya Plastics Corporation, Huntsman Corporation, Hexion Inc., Kukdo Chemical Co. Ltd., Chang Chung Plastics Co. Ltd., BASF SE, Sinopec Corporation, and Atul Ltd. These companies are taking several strategic decisions to meet the growing demand and increase their market share.
“Global Epoxy Resin Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Type (Bisphenol, Aliphatic, Novolac, Halogenated, and Others)
- By Physical Form (Solid, Liquid, and Solutions)
- By Application (Paints & Coatings, Adhesives, Composites, and Others)
- By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
- By Company (Olin Corporation, Aditya Birla Chemicals, Nan Ya Plastics Corporation, Huntsman Corporation, Hexion Inc., Kukdo Chemical Co. Ltd., Chang Chung Plastics Co. Ltd., BASF SE, Sinopec Corporation, and Atul Ltd.)
Key questions answered in the study:
- What are the current and future trends of the global epoxy resin industry?
- How the industry has been evolving in terms of type, physical form, and application?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global epoxy resin industry?
- What are the customer orientation, purchase behavior, and expectations from the global epoxy resin suppliers across various region and countries?