The global epoxy resin market size was valued at USD 12.74 billion in 2023 and is projected to hit USD 21.37 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Epoxy Resins Market Size Report, 2024-2032.”
According to an analysis, epoxy resins have become sought-after across the end-use sectors, including coatings and composites. Industry players are investing in these resins for sealant and adhesive manufacturing. Some of the factors, such as durability and higher resistance, have augured well for the industry outlook.
The Epoxy Resin market provides detailed insights into the five major elements (size, share, scope, growth, and potential of the industry. It offers valuable information to help businesses identify opportunities and potential risks within the market. This detailed report is spread across 112 pages, ensuring an in-depth subject matter analysis.
Overall, the Epoxy Resin market is poised for continued expansion in the coming years due to the increasing demand for sustainable and innovative products and the widespread adoption of technology. By 2032, the global Epoxy Resin market size is projected to reach multimillion figures, displaying an unexpected compound annual growth rate between 2024 and 2032. When compared to the figures observed in 2021.
Major Players Profiled in the Market Report:
Kukdo Chemical Co., Ltd. (South Korea), Huntsman Corporation (U.S.), Olin Corporation (U.S.), Nan Ya Plastics Corporation (Taiwan), Hexion Inc. (Westlake Chemicals) (U.S.), Chang Chun Group (Taiwan), Aditya Birla Chemicals (India), Sika Group (Switzerland), DIC Corporation (Japan), China Petrochemical & Chemical Corporation (China)
Report Coverage
The report focuses on quantitative and qualitative assessments to offer a holistic view of the global market. The report highlights bottom-up and top-down approaches to provide a comprehensive view of product mapping. Further, a host of primary interviews has been conducted with opinion leaders, suppliers and other stakeholders. Primary data has been collated through emails, telephonic conversations and questionnaires. The secondary sources referred are press releases, SEC filings and websites.
Epoxy Resin Industry Overview:
This study offers comprehensive insights into the Epoxy Resin Industry by providing detailed information on market drivers, emerging trends, development opportunities, and potential market restraints impacting its dynamics. The research assesses the global market size for Epoxy Resin and analyses the strategic trends of major international competitors. Sales estimates over the anticipated time frame are provided, with every data point, including percentage share splits and breakdowns, sourced from secondary references and validated through primary sources. The report includes Porter's Five Forces analysis, SWOT analysis, examination of the regulatory environment, and identification of key buyers to evaluate the key influencing factors and entry barriers in the sector.
To address diverse inquiries from clients and readers, the study includes a concise summary of key industry participants and their contributions. The report highlights significant variables influencing the growth of the Epoxy Resin Industry, such as the supplier environment and recent competition intensity.
Epoxy Resins Segmentation Analysis
Based on application, the market is segmented into electrical & electronics, paint & coatings, wind turbine & composites, adhesive & sealants, civil engineering and others.
In terms of geography, the industry is segregated into North America, Asia Pacific, Europe, the Middle East and Africa and Latin America.
Drivers and Restraints
Steady Demand from Automotive to Usher Growth Potentials
While the impact of the COVID-19 pandemic had a pressing effect on the automotive industry in 2020, the next few years could provide growth opportunities. The trend for lightweight materials could spur epoxy resins market growth during the forecast period. An increased focus on next-gen vehicles, along with investments in research activities, will drive the growth potentials. Industry players expect robust government policies and industrialization to augur well across advanced and emerging economies.
However, fluctuating raw material prices and rigorous regulations toward volatile organic compounds could hamper the growth prospect.
Source- https://www.fortunebusinessinsights.com/epoxy-resin-market-106597
Regional Epoxy Resins Insights
Bullish Investments in Paints & Coatings to Foster Asia Pacific Market
Asia Pacific epoxy resins market share will observe an appreciable gain on the back of strong investments in raw materials. Emerging economies, such as China and India, are likely to up their investments across paints & coatings and electrical & electronics sectors. Stakeholders are likely to inject funds into the consumption of epoxies in the ensuing period.
Industry participants envisage Europe as a happy hunting ground in the wake of profound investments in the automotive sector and wind energy. Moreover, construction activities are likely to pick pace across the U.K., Germany and Italy. Stakeholders bank on thriving renewable energy amidst demand for sustainable chemicals.
North America market forecast will be strong with rising investments in private and public infrastructure projects across the U.S. Besides, the penetration of the food & beverage industry could solidify the position of North America in the ensuing period. Stakeholders expect adhesives and sealants and wind turbines to be sought-after across the region.
Competitive Landscape
Stakeholders to Emphasize Product Portfolio Expansion to Tap Markets
Industry players are poised to focus on product launches, technological advancements, mergers & acquisitions and R&D activities during the assessment period. Current dynamics indicate industry participants will invest in geographical expansion.