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 Epoxy Resin Market is estimated to reach USD 10,620.5 million till 2023, expanding at a CAGR of 5.24% during the forecast period. The protuberant factors driving growth of the market are, increasing demand of epoxy based composites from major end users such as automotive & transportation industry and continuous growth of construction industry.

Application of phenolic antioxidant in building & construction industry accounted for the largest market share. It has been estimated to grow significant rate throughout the review period. This is attributed to swiftly growing infrastructural activities around the globe, wherein the Epoxy Resin are majorly consumed. Glycidyl epoxy is the major segment among the types and held the maximum share of the market, as of 2016, on account of the increasing use of this type in production of materials to be used numerous industries such as automotive and building & construction.



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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.



Regional Analysis:

The Global Epoxy Resin Market is spanned across five key regions: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Among these, Asia Pacific accounted for the largest share of the market in 2016 and is estimated to grow at considerable CAGR throughout the review period. The primary factor responsible for the dominance of Asia Pacific region is the increasing demand for the product in steadily expanding construction sector, along with manufacture of consumer goods and expanding production capacity in this region. Asia Pacific is followed by North America, which accounted for the second largest market share, as of 2016. U.S. held the major share of the regional market and is expected to retain its dominance during the forecast period owing to greater penetration of end user industries in the country.

Europe is another substantial region in the Global Epoxy Resin Market. It accounted for a 9.28% share of the market in 2016. Germany is the leading market in this region, in terms of value and volume due to increasing demand from the established automotive industry. Europe is followed by Latin America and Middle East & Africa. Latin America is the emerging market in the Global Epoxy Resin Market and is projected to grow at the highest CAGR owing to evolving industries and pacifying economic conditions in Brazil, Venezuela, and Colombia.



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. And Based on Region, The Global Epoxy Resin Market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.



Global Competitors:

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.



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