The flexible epoxy resin market is all set to explore its potential in various fields. Its percolation in paints & coatings, automotive, and in aerospace is unprecedented. In automobile sector, flexible epoxy resin finds use in underbody guards, mud-flaps, bumpers, ducting and sheeting, and impact panels. As a corrosion resistant, the product is getting traction from the construction sector which is witnessing significant growth due to urbanization. In addition, the flexible epoxy resin market is enjoying extensive support from verticals as a component used in electrical & electronic laminates, water borne coatings, flooring and paving, and powder coatings.
The flexible epoxy resin (FER) market was estimated at USD 540.5 million in 2020 and projected to reach USD 1,076.15 million by 2030, at a CAGR of 7.19% during the forecast period (2022-2030).
Segmentation:
The global flexible epoxy resin market can be segmented by type, application, and end-use industry. This would ease the understanding of the market during the forecast period.
Type-wise segmentation of the global flexible epoxy resin market includes rubber modified, urethane modified, and dimer acid.
Application-based segmentation of the flexible epoxy resin market comprises adhesives, semiconductors, primer, composites, electrical laminates, and others.
Based on the end-user industry, the flexible epoxy resin market can be segmented into automotive, electrical & electronics, paints & coatings, military & defense, construction, and others.
Regional Analysis:
Regionally, the flexible epoxy resin market is segmented into five regions namely Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA) to provide a holistic view of the market.
The APAC market is in-charge of the global market. The region has several developing economies that are revamping their end-user industries such as paints & coatings, automotive, and construction. At the same time, regional market invasion by global behemoths can be seen as a positive sign. And as its acolyte, the flexible epoxy resin market can garner profits.
North America is the second largest flexible epoxy resin market. The credit can be attributed to the high demand generated by the military & defence and automotive industries.
Europe’s market is also gaining more from the robust automotive sector. But the market can experience slight slag owing to the preventive norms set by the governments.
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Competitive Landscape:
Major manufacturers in the global flexible epoxy resin market are Hexion (U.S.), Kukdo Chemical Co., Ltd. (South Korea), Olin Corporation (U.S.), Huntsman International LLC (U.S.), DIC CORPORATION (Japan), Aditya Birla Chemicals (India), Emerald Performance Materials (U.S.), Cardolite (U.S.), Atul Ltd. (India), INTERTRONICS (the U.K.), EPOXONIC (Germany), Spolchemie (Czech Republic), Conren Ltd. (U.K), Mereco Technologies (U.S.), and Resoltech (France).
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