Epoxy Resin Market Worth $22.4 Billion By 2030| CAGR 7.3%

 Epoxy Resin Industry Overview

The global epoxy resin market size was valued at USD 22.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. Increasing demand for paints & coatings is anticipated to significantly drive the market growth during the forecast period. Increasing demand for epoxy resins is attributed to the growing construction spending, particularly on residential construction, especially in North America and Western Europe. The rapid growth in global manufacturing activities is expected to fuel the demand for paints & coatings used in the production of motor vehicles and other durable goods, as well as industrial maintenance applications. This is expected to boost the product demand globally.

Asia Pacific has been the leading consumer of epoxy resins, fueled by increasing demand from China and India. Infrastructure development along with increasing automotive production has fueled paints & coatings demand in the region. Increasing disposable income and willingness to spend more is expected to drive the market over the coming years. In the recent past, global automotive production increased rapidly due to the growing demand from middle-class families and rising disposable income across emerging nations, such as China, India, Brazil, Vietnam, and others. The rise in automotive demand propelled the consumption of paints & coatings across the automotive industry, thereby fueling the product demand.

Gather more insights about the market drivers, restrains and growth of the Global Epoxy Resin market

 

However, volatile prices of raw materials of epoxy resins are expected to hinder the market growth during the forecast period. In addition, the outbreak of the COVID-19 adversely impacted the product demand in various applications including paints & coatings, adhesives, wind turbines, and others owing to the stalled manufacturing activities, restrictions in supply & transportation, and economic slowdown across various nations in 2020. The recommencing industrial operation is projected to positively influence the product demand, thereby supporting the market growth in the years to come.


Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

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Epoxy Resin Market Segmentation

Grand View Research has segmented the global epoxy resin market based on application and region:

Epoxy Resin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • Paints & Coatings
  • Wind Turbines
  • Composites
  • Construction
  • Electrical & Electronics
  • Adhesives
  • Others

Epoxy Resin Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)


Market Share Insights

  • September 2020: Huntsman International LLC launched the ARALDITE 2000 Adhesive core range consisting of three technologies, namely, epoxy, acrylic, and Polyurethane (PU), for helping businesses maximize their productivity by covering up to 80% of all bonding needs.


Key Companies profiled:

Some of the prominent players in the global epoxy resin market include:

  • 3M
  • Aditya Birla Management Corp. Pvt. Ltd.
  • Atul Ltd
  • BASF SE
  • Solvay
  • Huntsman International LLC
  • Kukdo Chemical Co., Ltd.
  • Olin Corp.
  • Sika AG
  • Nan Ya Plastics Corp.
  • Jiangsu Sanmu Group Co., Ltd.
  • Jubail Chemical Industries LLC
  • China Petrochemical & Chemical Corp. (SINOPEC)
  • Hexion
  • Kolon Industries, Inc.
  • Techstorm
  • NAGASE & Co., Ltd.

 

Order a free sample PDF of the Epoxy Resin Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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