Report Ocean has recently published a research study on the global epoxy resin market. The report, “Global Epoxy Resin Market Size study, by Physical Form (Liquid, Solid and Solution), by Application (Paints & coatings, Composites, Adhesives & sealants and Others), by End-Use Industry (Building & construction, Automotive, large & heavy vehicles & railroads, General industrial, Consumer goods (including sporting equipment), Wind power, Aerospace and Marine) and Regional Forecasts 2020-2027,” offers a detailed assessment of this market, including individual analyses of each of its segments.
The global epoxy resin market was valued approximately at US$7.9 bn in 2019. The market is anticipated to progress at a CAGR of more than 5.77% over the forecast period of 2020-2027.
The growth of this worldwide market is driven by the widening application base of epoxy resins in end-use industries. The unique properties of epoxy resins, such as prolonged durability, corrosion resistance, superior mechanical strength, notable toughness, high thermal stability, resistance to chemical and moisture, and superior adhesion, have added to its popularity, thereby fueling its demand significantly. The adhesives, paints and coatings, composites, and electronic encapsulation industries are the prominent end users of epoxy resin, globally. The eco-friendliness of epoxy resins is also supporting the growth of this market.
Going forward, the rising usage of composites, augmenting demand from developing countries, and the growing need for revolutionary advancements in weight reduction, safety, and ease-of-application are likely to propel the market over the period of the forecast. Furthermore, the increasing need for publications, corrugated cardboards, commercial printing, and packaging and the rise in consumer specific need, such as eco-friendly solutions, are leading to burgeoning demand for the printing ink industry, which are projected to propel the demand for epoxy resins in the near future. However, the volatility in the raw material prices may hinder the growth of this market over the next few years.
The research report also offers a geographical assessment of the global market for epoxy resins. As per the study, the global market registers its presence across North America, Europe, Latin America, Asia Pacific, and the Rest of the World. The leading market for epoxy resins across the world is Asia Pacific. The augmenting industrialization, rise in infrastructural development, and the surging uptake of technologies are boosting this regional market. Researchers expect the Asia Pacific epoxy resin market to continue to rise efficiently, reporting the highest CAGR across the world over the period from 2020 to 2027.
Impact of Covid 19 on Global Epoxy Resin Market
The global market for epoxy resin has been impacted negatively due to the spread of Coronavirus. With lockdown imposed in several economies, the end-use industries witnessed significant downfall that reflected on this market. However, the market is likely to gain its normal pace, once the situation gets under control.
- The leading market for epoxy resins across the world is Asia Pacific.
- The growth of this worldwide market is driven by the widening application base of epoxy resins in end-use industries.
The global epoxy resin market is segmented into:
By Physical Form
- Paints & coatings
- Adhesives & sealants
By End-use Industry
- Building & construction
- Automotive, large & heavy vehicles & railroads
- General industrial
- Consumer goods (including sporting equipment)
- Wind power
- North America
- Asia Pacific
- Rest of the World
Companies Mentioned in the Report
- Olin Corporation
- Nan Ya Plastics Corporation
- Hexion Inc.
- Kukdo Chemical Co. Ltd.
- Huntsman Corporation
- Chang Chun Plastics Co. Ltd.
- Aditya Birla Chemicals
- The 3M Company
- BASF SE
- Sinopec Corporation
Company Name: Report Ocean
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