The Epoxy Resins Market is excepted to reach USD 42.28 billion by 2030, with a CAGR of 7% during the forecast period 2023 to 2030, The market was valued at USD 24.61 billion in 2022.
Epoxy resins has been increasingly popular among businesses and individuals in recent years. Epoxy resins does not corrode when exposed to most substances, which is one of the reasons behind this. When it's exposed to the elements, the same thing happens. Most other materials on Earth show regular wear and tear, but it doesn't.
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Epoxy resins is also extremely malleable and adaptable. These are some of the reasons why epoxy resins is used in transportation and other industries. Epoxy resins is a thermosetting polymer that is made by copolymerizing an epoxide with a molecule that has two hydroxyl groups. High thermal stability, Corrosion resistance, superior mechanical strength, prolonged durability, remarkable toughness, chemical and moisture resistance, and exceptional adhesion are some of the features that make these resins stand out in a variety of industrial applications. Epoxy resins are used in a variety of sectors, including paints and coatings, adhesives, composites, and electronic encapsulation.
Drivers
Most paints contain epoxy resins as a key component. This is what thickens it so that it adheres to the instrument being used to paint a surface. Paints, on the other hand, aren't so thick that they can't be smeared over surfaces! Epoxy resins also makes the paints stronger, more lasting, and less susceptible to corrosion.
Epoxy resins can also be used as priming, topcoat, and topcoat. This is due to two key factors. The first is that epoxy resins protect items from UV radiation from the Sun. The second benefit is that they improve the appearance of the objects and materials they coat.
RESTRAINTS
Epoxy resins is made from essentially commodity-grade raw materials. The prices of these goods fluctuate widely and on a daily basis. As a result, the cost of producing epoxy resins rises, as does the final price of these items.
OPPORTUNITIES
One of the most pressing issues confronting the worldwide epoxy resins business is the need to continue developing lightweight, low-cost products. Manufacturers of defence planes, vehicles, and equipment all across the world can already employ a variety of alternative resins. The majority of these are just as effective as epoxy resins, but at a fraction of the cost.
CHALLENGES
One of the most significant difficulties facing the worldwide epoxy resins business is continuing to produce lightweight, low-cost products. Alternative resins are already available for use by defence aviation and vehicle/equipment makers all over the world. The majority of these are just as effective as epoxy resins at a fraction of the cost.
Due to stopped production activity, supply and transportation restrictions, and an economic slowdown around the globe in 2020, the COVID-19 pandemic had a detrimental influence on epoxy resins demand in a variety of applications, including paints and coatings, adhesives, wind turbines, and others. The resumption of industrial operations, on the other hand, is expected to have a favourable impact on product demand in the future years. All over world and governments realise it. They find to impose lockdown and quarantines because of this. These were only temporary because they weren't effective in stopping the virus from spreading. Many enterprises across a wide range of industries were forced to close or substantially curtail their output. The epoxy resins business around the world was no exception. In fact, less epoxy resins is being produced as the cost of the raw materials used to make epoxy resins has climbed dramatically. This has an effect on the firm's overall CAGR.
By Physical Form
Solid
Liquid
Solution
By Type
DGBEA (bisphenol A & ECH)
DGBEF (bisphenol F &ECH)
Novolac (formaldehyde & phenols)
Aliphatic (aliphatic alcohols)
Glycidylamine (aromatic amines & ECH)
Others
By Application
Paints & Coatings
Adhesives & sealants
Composites
Electronic Encapsulation & Others
Others
By End Use Industry
Building &construction
Transportation
General industrial
Consumer goods
Wind energy
Aerospace
Marine
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Epoxy resins is mostly utilized in the North American region to produce second-hand cars and to improve the appearance and functionality of used cars. For these reasons, the North American region has the largest market share. Many automobile and other motor vehicle manufacturers, particularly in the United States and Canada, wish to employ epoxy resins as a topcoat to make them look brighter, more appealing, more robust, stronger, last longer, and work better. The end result is a stylish and safe automobile.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Key Players are Kukdo Chemical Co., Ltd, Inc, Atul Ltd, Ciech S.A., Huntsman International Llc, China Petrochemical Corporation, Hexion, Chang Chun Group, Spolchemie, Macro Polymers, Dow, Aditya Birla Chemical, Kolon Industries, Olin Corporation, & Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 24.61 Billion |
| Market Size by 2030 | US$ 42.28 Billion |
| CAGR | CAGR of 7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By physical Form (Solid, Liquid, Solution) • By Type (DGBEA , DGBEF, Novolac, Aliphatic, Glycidylamine, Others) • By Application (Paints & Coatings, Adhesives & sealants, Composites, Electronic Encapsulation & Others) • By End Use Industry (Building &construction, Transportation, General industrial, Consumer goods, Wind energy, Aerospace, Marine) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Kukdo Chemical Co., Ltd, Inc, Atul Ltd, Ciech S.A., Huntsman International Llc, China Petrochemical Corporation, Hexion, Chang Chun Group, Spolchemie, Macro Polymers, Dow, Aditya Birla Chemical, Kolon Industries, Olin Corporation |
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Due to stopped production activity, supply and transportation restrictions, and an economic slowdown around the globe in 2020, the COVID-19 pandemic had a detrimental influence on epoxy resin demand in a variety of applications, including paints and coatings, adhesives, wind turbines, and others.
Ans: Continuing to produce lightweight and low-cost products are the challenges faced by the antimicrobial plastics Market
Ans: Epoxy resin is also extremely malleable and adaptable. These are some of the reasons why epoxy resin is used in transportation and other industries.
Ans: Epoxy Resins Market is excepted to reach USD 42.28 billion by 2030, with a CAGR of 7% during the forecast period 2023 to 2030, The market was valued at USD 24.61 billion in 2022.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Epoxy Resins Market, By physical Form
8.1 Solid
8.2 Liquid
8.3 Solution
9. Global Epoxy Resins Market, By Type
9.1 DGBEA (bisphenol A & ECH)
9.2 DGBEF (bisphenol F &ECH)
9.3 Novolac (formaldehyde & phenols)
9.4 Aliphatic (aliphatic alcohols)
9.5 Glycidylamine (aromatic amines & ECH)
9.6 Others
10. Global Epoxy Resins Market, By Application
10.1 Paints & Coatings
10.2 Adhesives & sealants
10.3 Composites
10.4 Electronic Encapsulation & Others
10.5 Others
11. Global Epoxy Resins Market, By End Use Industry
11.1 Building &construction
11.2 Transportation
11.3 General industrial
11.4 Consumer goods
11.5 Wind energy
11.6 Aerospace
11.7 Marine
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1Aditya Birla Chemicals (India),
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Kukdo Chemical Co., Ltd (South Korea),
13.3 Kolon Industries (South Korea), Inc,
13.4 Atul Ltd (India), Ciech S.A. (Poland),
13.5 Huntsman International Llc (U.S.),
13.6 China Petrochemical Corporation (China),
13.7 Nan Ya plastics corporation (Taiwan),
13.8 Hexion (U.S.),
13.9 Chang Chun Group (Taiwan),
13.10 Spolchemie (Czech Republic),
13.11 Olin Corporation (U.S.),
13.12 Macro Polymers (India),
13.13 Dow (U.S.)
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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