BANGALORE, India, Sept. 28, 2022 /PRNewswire/ — The Global Epoxy Resin Market is Segmented by Type (DGBEA (Bisphenol A and ECH), DGBEF (Bisphenol F and ECH), Novolac (Formaldehyde and Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines and ECH), by Application (Paints & Coatings, Composites, Adhesives & Sealants, Electrical and Electronics): Global Opportunity Analysis and Industry Forecast, 2022-2028. It is published in Valuates Reports under the chemicals industry category
Due to the COVID-19 pandemic, the global Epoxy Resin market size is estimated to be worth USD 10260 Million in 2022 and is forecast to a readjusted size of USD 14390 Million by 2028 with a CAGR of 5.8% during the forecast period 2022-2028.
Major factors driving the growth of the Epoxy Resin market
The rise in construction investment, notably in residential development, is driving the growth of the epoxy resins market. Moreover, the demand for paints and coatings used in the manufacturing of automobiles and other durable goods, as well as industrial maintenance applications, is anticipated to fuel the Epoxy Resin market growth.
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TRENDS INFLUENCING THE GROWTH OF EPOXY RESIN MARKET:
Epoxies are used in structural components, engineering adhesives, and paints in the construction industry to increase durability, strength, and resilience, ensuring longer lifespans and reducing the need for repainting and refurbishing. Epoxy paints offer a robust, long-lasting protective layer that is simple to keep clean. Epoxy paint has distinct qualities that make it excellent for garages, warehouses, and other indoor spaces. These qualities include resistance to chemicals, corrosion, and ease of cleaning. This factor is expected to drive the growth of the epoxy resin market.
In the upcoming years, the epoxy resin market is anticipated to be driven by rising disposable income and consumer propensity to spend more. Due to expanding middle-class family demand and rising disposable income in emerging countries like China, India, Brazil, Vietnam, and others, global vehicle production grew quickly in recent years. The demand for products was fueled by the increase in the demand for automobiles, which drove up the consumption of paints and coatings throughout the automotive industry.
To capitalize on value-adding opportunities in applications including metal protection, plastic tooling, and lightweight composites for the automobile industry, manufacturers are focusing on diversifying their product lines. They are spending money on research and development to create epoxy resins, an important class of chemicals used in a variety of industrial applications. The use of epoxy resins in the manufacture of autos, boats, and aircraft are becoming more and more popular.
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EPOXY RESIN INDUSTRY SHARE
Based on region, China holds about 45% of the global production market share, followed by South Korea with about 15% share.
The top 3 businesses in the epoxy resin market are Olin, Hexion, and Nan Ya Plastics. They account for around 30% of the total epoxy resin market share.
- Olin Corporation
- Nan Ya Plastics Corporation
- Hexion Inc.
- Kukdo Chemical Co. Ltd.
- Huntsman Corporation
- Chang Chun Plastics Co. Ltd.
- Aditya Birla Chemicals
- 3M Company
- BASF SE
- Sinopec Corporation
- Dow Coating Materials
- Nona composites
- Polyset Co Inc
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– The global Waterborne Epoxy Resin market was valued at USD 1122 Million in 2020 and it is expected to reach USD 1886.5 Million by the end of 2027, growing at a CAGR of 7.4% during 2021-2027.
– Due to the COVID-19 pandemic, the global Flexible Epoxy Resin market size is estimated to be worth USD 596.5 Million in 2022 and is forecast to a readjusted size of USD 794.8 Million by 2028 with a CAGR of 4.9% during the review period.
– Due to the COVID-19 pandemic, the global High-Purity Epoxy Resin market size is estimated to be worth USD 1262.5 Million in 2022 and is forecast to a readjusted size of USD 1981.3 Million by 2028 with a CAGR of 7.8% during the review period.
– The global Coating Resins market size is estimated to be worth USD 26370 million in 2022 and is projected to reach USD 31290 million by 2028 with a CAGR of 2.9% during the review period.
– Due to the COVID-19 pandemic, the global Amino Resins market size is estimated to be worth USD 10190 Million in 2022 and is forecast to a readjusted size of USD 13920 Million by 2028 with a CAGR of 5.3% during the review period.
– The Ion Exchange Resins market was valued at USD 2115.1 million in 2022, and it is expected to reach USD 2671.6 million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period (2022-2028).
– The global Automotive Coatings market size is estimated to be worth USD 20350 million in 2022. It is forecast to be a readjusted size of USD 24550 million by 2028 with a CAGR of 3.2% during the forecast period 2022-2028.
– Due to the COVID-19 pandemic, the global Plastic Resins market size is estimated to be worth USD 860420 Million in 2022 and is forecast to a readjusted size of USD 992000 Million by 2028 with a CAGR of 2.4% during the review period.
– The global Phenol market size is projected to reach USD 22250 Million by 2027, from USD 17380 Million in 2020, at a CAGR of 4.2% during 2021-2027.
– The global Unsaturated Polyester Resins (UPR) market was valued at USD 10860 Million in 2020 and it is expected to reach USD 19230 Million by the end of 2027, growing at a CAGR of 8.5% during 2021-2027.
– Due to the COVID-19 pandemic, the global Metal Coatings market size is estimated to be worth USD 14410 Million in 2022 and is forecast to a readjusted size of USD 19400 Million by 2028 with a CAGR of 5.1% during the review period.
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