Epoxy Resin Market Size to grow by USD 5.18 billion between 2024-2028
According to a research report “ Epoxy Resin Market” by Application (Paints and coatings, Adhesives and sealants, Composites, Electronic components, Others) End-user (Consumer goods, Building and construction, Wind energy, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5.18 billion, at a CAGR of 6.75% during the forecast period. In the automotive sector, epoxy resin-based coatings play a pivotal role due to their exceptional thermal stability and resistance to fire and high temperatures. These properties make them an ideal choice for automotive original equipment manufacturers (OEMs) seeking to enhance vehicle safety and durability. Moreover, the increasing demand for lightweight, fuel-efficient, and safe vehicles is driving the adoption of epoxy resin-based coatings. Their long-lasting nature, superior gloss, and cost-effectiveness further add to their appeal. Despite the popularity of waterborne coatings, epoxy resins continue to hold significant market share due to their unique benefits.
Browse market data tables, figures, and in-depth TOC on “Epoxy Resin Market” by Application (Paints and coatings, Adhesives and sealants, Composites, Electronic components, Others) End-user (Consumer goods, Building and construction, Wind energy, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Application, the Paints and coatings segment is projected to dominate the market size in 2024
In the consumer goods sector, epoxy resins play a pivotal role in the production of paints and coatings for outdoor applications on refrigerators, air conditioners, and various kitchen appliances. These epoxy resin-based coatings offer superior protection against rust and scratches, enhancing the durability and longevity of these products. Furthermore, epoxy resins are extensively used in the manufacturing of sports equipment, including ball sports equipment, adventure sports equipment, fitness equipment, and golf equipment. The sports equipment market is experiencing robust growth worldwide, particularly in developing countries such as China, India, and Brazil. Epoxy resins are preferred for their high strength and durability in the production of sports protective equipment, such as sports helmets for baseball and cricket, due to their ability to withstand impact and provide effective protection.
By End-user, Consumer goods segment is expected to hold the largest market size for the year 2024
Epoxy resin-based paints and coatings are indispensable in various industries due to their exceptional properties. Primarily used in construction, including flooring, shipbuilding, automotive, infrastructure, and home appliances, they enhance strength, durability, and resiliency. In the construction sector, they ensure longer lifespans by reducing the need for frequent repainting and refurbishment. For instance, in flooring applications, epoxy resin coatings maintain high hygienic standards, enabling the use of strong cleaners. Furthermore, they offer high thermal stability, providing resistance to high-temperature conditions and fire in commercial and industrial installations. Extensively used as liquid pastes or mortars, epoxy resins are essential for coating floors in shopping malls, hospitals, schools, prisons, and industrial buildings.
APAC is forecasted to hold the largest market size by region in 2024
The epoxy resin market in APAC is poised for significant growth due to the expansion of the commercial and residential construction sector and infrastructure development. These initiatives are anticipated to drive demand for paints and coatings, adhesives and sealants, electronic products, and other epoxy resin applications. The region's economic growth and increasing per capita income have made it an attractive destination for automotive manufacturing companies, leading to a surge in demand for epoxy resins in this sector. Overall, the region's economic expansion and rising consumer purchasing power are expected to fuel the epoxy resin market during the forecast period.
The Epoxy Resin Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Epoxy Resin is a high-performance thermosetting material widely used in various industries due to its exceptional properties such as thermal stability, chemical resistance, and mechanical strength. The Epoxy Resin market can be segmented into Solid grade, Semi-Solid grade, and Liquid grade based on viscosity. Cycloaliphatic Epoxy and Epoxy Phenol Novolac are popular types of Epoxy Resin. The IT sector utilizes Epoxy Resin in making printed circuit boards due to its excellent electrical insulation properties. In the construction industry, Epoxy Resin is used for wastewater treatment plants and infrastructure projects due to its durability and resistance to UV radiation. The shipbuilding industry and automotive production rely on Epoxy Resin for motor vehicles and aerospace applications. The Middle-income population's growing demand for better housing and infrastructure spending in developing countries is driving the demand for Epoxy Resin in the construction sector. Technological advancements in Epoxy Resin formulations are also fueling growth in the paints & coatings sector. Regulatory and sustainability mandates are pushing the industry towards greener Epoxy Resin formulations. The end-use segments include IT, aerospace, automotive, construction, and industrial applications. Overall, the Epoxy Resin market is expected to grow significantly due to its versatility and superior properties.
Market Research Overview
The Epoxy Resin Market is a dynamic and diverse industry, served by a network of Epoxy Resin manufacturers, traders, and wholesalers. Epoxy Resin comes in various grades, including Solid grade, Semi-Solid grade, and Liquid grade. Cycloaliphatic Epoxy and Epoxy Phenol Novolac are popular types, with Thermosetting copolymers also gaining traction. Key manufacturers include Huntsman International LLC. End-use segments include the Retail sector, Telecom sector, IT sector, and more. Epoxy Resin finds extensive use in industries like shipbuilding, automotive production, and construction, particularly in concrete surfaces, bridges, and pipelines. UV radiation, wastewater treatment plants, and protective coatings for steel structures and metal substrates are other significant applications. The Middle-income population's increasing demand for decorative items, countertops, furniture, and flooring fuels growth. Industries like aerospace, wind energy, and general industrial sectors rely on Epoxy Resin for adhesives & sealants, composites, and bonding capabilities. Glycidyl amine, Aliphatic, and Novolac are common raw materials. BADGE solutions, solid, and liquid forms are used in various applications. Agreements, competition, and technological advancements shape the market. Epoxy Resin formulations offer durability, mechanical properties, and chemical resistance. Environmental and regulatory mandates, production costs, and supply chain disruptions influence profitability. Epichlorohydrin and bisphenol A (BPA) are raw materials under scrutiny. Application possibilities, curing times, and processing technologies are key considerations. The market is driven by infrastructure development, urbanization, and emerging economies. Competition comes from alternatives like phenolic resins, vinyl ester, polyester, and polyurethane. Curing agents and curing technologies are essential for optimal performance. Electronics, automotive, aerospace, and thermal stability are significant trends.
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