Epoxy Resin Market- Emerging Trends, Global Players Outlook and Forecast by 2023


Posted May 21, 2018 by harishsomani321

Epoxy Resin Market is dominated by Asia Pacific and estimated to grow with the highest CAGR by 2023 due to the expansion of various end-use industries such as Building & Construction, Consumer Goods, Electrical & Electronics, Adhesives & Sealants
 
Market Synopsis:
Epoxy Resin, also known as polyepoxides, refers to a kind of reactive prepolymer and polymer containing epoxide groups. These resins react either with themselves in the presence of catalysts, or with many co-reactants like amines, phenols, thiols, etc. Epoxy Resin has numerous industrial applications in a wide range of end-use industries. It exhibits superior mechanical properties and more thermal and chemical resistance than other types of resin.
The Global Epoxy Resin Market is estimated to grow at CAGR of 5.24% to reach USD 10,620.5 million by the end of 2023. The factors positively influencing the market are the increasing epoxy based composites demand from automotive & transportation industry and steady growth of construction industry.

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Key Findings:
Global Epoxy Resin Market is projected to reach USD 10,620.5 million by 2023 with 5.24% CAGR during review period of 2017-2023. Asia Pacific accounted for the largest share due to the significant growth of automotive and construction industry. Liquid epoxy segment is estimated to dominate the global market owing to its usage in a wide range of applications. Automotive & transportation industry is growing at the highest CAGR, among other applications of the epoxy resins. Among the technology segment, waterborne epoxy is projected to emerge as the fastest growing segment.

Top Global Players:
The prominent players in the Global Epoxy Resin Market are, Olin Corporation (Olin) (U.S.), Aditya Birla Chemicals (India), Kolon Industries, Inc. (South Korea), BASF SE (Germany), Ciech S.A (Poland), Huntsman International LLC (U.S.), and Spolchemie (Czech Republic), among others.

Market Categorization:
The Global Epoxy Resin Market is segmented on the basis of type, technology, application and region. On the basis of type, market is divided into glycidyl epoxy and non-glycidyl epoxy.
Based on Technology, the market is segmented into liquid epoxy, waterborne epoxy, solvent cut epoxy, and others.
Based on Application the market is categorized into building & construction, automotive & transportation, electrical & electronics, adhesives & sealants, marine, and others.
Based on Region, The Global Epoxy Resin Market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Regional Analysis:
Geographically, the Global Epoxy Resin Market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Among these, Asia Pacific was the largest region in the Global Epoxy Resin Market as of 2016, in terms of the market share. The region is likely to retain its dominance throughout the forecast period owing to rapidly growing construction activities. Asia Pacific market is followed by North America, which is accounted for the second largest number of shares in the Global Epoxy Resin Market, as of 2016. The North America market is set to reach USD 1,556.8 million by the end 2023. Europe is another substantial region in the market, which accounts for 9.28% share of market in 2016. Country wise, China is the leading market, in terms of value and volume, followed by the U.S. In coming years, Latin America is set to emerge as a significant market for epoxy resin, which is estimated to grow at highest CAGR due to rise of major end users in this region.

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Last Updated May 21, 2018