Epoxy Resins Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Epoxy Resin Market is segmented By Type (DGBEA (Diglycidil ether of bisphenol-A), DGBEF (Diglycidil ether of bisphenol-F)), By Application (Paints & Coatings, Adhesives & Sealants, Composites, Others (Electronic Encapsulation)), By End-Use Industry (Building & Construction, Aerospace, Wind Power, Marine, Others (Transportation, Consumer Goods)), By Physical Form (Liquid, Solid, Solution), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

Report analyses the Global Epoxy Resins Market reached US$ 12.1 Billion and is expected to reach US$ 18.7 Billion by 2031, growing with a CAGR of 5.6% during the forecast period 2024-2031. Epoxy Resin usage in adhesives, coatings, electronic materials is on the rise. Demand from Building & Construction, Power, Marine, Aerospace in Asia Pacific is spiking. Competitive rivalry intensifies with Huntsman International LLC, Olin Corporation, Hexion and others operating in the market.

Epoxy resins are low molecular weight pre-polymers or higher molecular weight polymers that generally contain at least two epoxide groups. Epoxy Resins have been widely used for coatings, electronic materials, adhesives, and matrices for fiber-reinforced composites owing to their mechanical properties, high adhesion strength, excellent heat resistance, and high electrical resistance. Epoxy resins can be easily tailored to achieve specific performance characteristics, which has been a significant factor in the steady growth rate of epoxy resins over the years.

Market Scope

To Get a Free Sample Click here

Market Dynamics and Trends

• The increasing penetration of epoxy resins in various end-user industries, owing to the high-performance characteristics of these epoxy resins, is the critical driver of the market.

• Epoxy resins possess excellent chemical resistance, superior adhesion to a variety of substrates, high tensile, compressive, and flexural strengths, excellent electrical insulation properties, and a high degree of fatigue strength, which make them highly versatile and suitable for a wide range of applications.

• Moreover, recent technological developments have helped in developing high-endurance epoxy resin which is expected to drive the growth of the market.

• For instance, in December 2017, Worlée launched two new polymer hardeners, for epoxy resins, WorléeCure VP 2000 and WorléeCure VP 2001, that provide high UV stability, endurance, and protection, which significantly differentiates them from the standard epoxy resin hardeners.

• However, the fluctuating raw material cost and high prices of epoxy might hamper the market growth. Moreover, the availability of polyurethane and phenolic resins as alternatives in various applications might hinder the growth of the market.

Segmentation Analysis

• The global epoxy resin market is segmented by physical form, application, end-use industry, and type.

• By application, the global epoxy resins market is segmented into paints & coatings, adhesives & sealants, composites, and others. Epoxy resins find the most significant appeal in paints & coatings.

• Epoxy-based paints & coatings prevent corrosion and rust and find high demand in several industries, such as building and construction, automotive, and others.

• Moreover, the rapid industrialization in the developing countries of Asia-Pacific is expected to increase the demand for epoxy resins for paint & coating applications. Epoxy resins might find an increasing growth opportunity in adhesive applications, owing to the growing demand for lightweight cars to meet fuel economy standards.

• By physical form, the global epoxy resins market is segmented into liquid, robust, and solution.

• By type, the global Epoxy Resins market is segmented into DGBEA, DGBEF, Novolac, Aliphatic, Glycidyl amine, and others.

• By end-use industry, the global epoxy resins market is segmented into building & construction, aerospace, wind power, marine, and others.

Geographical Share

• The global Epoxy Resins market is segmented into regions like North America, Europe, Asia Pacific, South America, and others. Asia-Pacific is estimated to be the largest market for the epoxy resins market owing to rapid industrialization, the growth in infrastructure, and rising automobile production.

• In Asia-Pacific, the leading market for epoxy resins is the paints & coatings industry, owing to the massive consumption in the building & construction industry.

Epoxy Resins Market Companies and Competitive Analysis

• The global Epoxy Resins market is highly competitive with the presence of significant market players in all regions. The key market players are highly focused on developing new technologies for unique applications.

• For instance, in September 2017, Hexion Inc. developed a new epoxy resin system with low fire, smoke, and toxicity properties built into the resin structure EPON™ FlameX Resin 9600 / EPIKURE™ FlameX Curing Agent 9700, which provides manufacturers with a novel, homogeneous material for use in composite parts for aircraft interiors as well as marine, rail, and architectural applications.

A few of the key market players in the global Epoxy Resins market are

• BASF SE

• 3M Company

• Cytec Solvay Group

• E. I. Du Pont De Nemours and Company

• Hexion Inc.

• Huntsman Corporation

• Kukdo Chemicals Co. Ltd.

• Nan Ya Plastics Corporation

• Olin Corporation

• The Dow Chemicals Company.

Key Takeaways

• Paints & coatings are the leading application segment owing to the rapid industrialization in the developing countries of Asia-Pacific.

• Asia-Pacific is the leading geographic segment, owing to the rapid growth in infrastructure and rising automobile production.

• The market would witness intense competition among the key players that are highly focused on new product launches and expansions through acquisitions.

The Scope of the Report

• The report covers the factors impacting the market, Porter 5 Forces, Competitive Landscape, Product Benchmarking, and company profiles. The epoxy Resins Market is segmented based on the physical form as liquid, dependable, and solution.

• Based on the application the market is segmented as – paints & coatings, adhesives and sealants, composites, and others. Based on the end-use industry the market is categorized as building and construction, aerospace, wind power, marine, and others.

• Based on the type the market is segmented into – DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, and others. Based on geography the market is segmented into – North America, South America, Europe, Asia Pacific, and the Middle East and Africa.