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(EMAILWIRE.COM, June 13, 2024 ) The report “Epoxy Resin Market by Physical Form (Liquids, Solids, Solutions), Raw Materials (Badge, Bfdge, Novolac, Aliphatic, Glycidyl Amine), Application (Paints & Coatings, Adhesives & Sealants, Composites), End-Use Industry, and Region – Global Forecast to 2028″The global epoxy resin market size was valued at USD 12.9 billion in 2023 and is projected to reach USD 17.0 billion by 2028, growing at 5.5% cagr during the forecast period.
Browse in-depth TOC on “Epoxy Resin Market
261 – Market Data Tables
50 – Figures
250 – Pages
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“Paints & Coatings is the largest and second fastest growing application for epoxy resin market, in terms of value.”
Epoxy resin is widely used in the formulation of paints and coatings due to its excellent adhesion, durability, chemical resistance, and mechanical properties. Epoxy resin-based coatings are commonly used as protective coatings in various industries. They provide a protective barrier against corrosion, abrasion, chemicals, and weathering. Epoxy coatings are often used on metal substrates, such as steel structures, pipelines, storage tanks, and bridges, to extend their lifespan and prevent degradation. They are also used as a coating or finish in consumer goods to enhance their appearance, durability, and protection. It provides a glossy, smooth, and resistant surface, which is desirable for applications like flooring, furniture, countertops, and decorative items.
“Building & Construction captures the largest share by end-use industry in epoxy resin market in 2022, in terms of value.”
Epoxy resin coatings are commonly applied to concrete surfaces to enhance their durability, strength, and aesthetics. Epoxy-based concrete coatings are used in applications such as garage floors, industrial floors, parking decks, and sidewalks. They provide a protective layer that resists chemicals, stains, abrasion, and moisture. Epoxy resin is extensively used as an adhesive in the construction industry. It provides strong bonding capabilities, allowing it to join various materials such as concrete, metal, wood, stone, and composites. Epoxy adhesives are used for structural bonding, anchoring, and repairs in applications such as concrete bonding, panel installation, and composite bonding.
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Asia Pacific was the largest market for epoxy resin in 2022, in terms of value.”
Several countries in the Asia Pacific region play a vital role in the epoxy resin market. China is the largest consumer and producer of epoxy resin in the region, contributing significantly to market growth. Other important markets include Japan, South Korea, India, and Southeast Asian countries like Thailand, Indonesia, and Vietnam. Rapid infrastructure development in countries like China and India has a significant impact on the epoxy resin industry. Epoxy resin is widely used in construction for applications such as
coatings, adhesives, flooring, and composites.
Epoxy Resin Market Key Players
The key players in this market are Sinopec Corporation (China), Dow Chemical Company (US), 3M (US), Westlake Epoxy (US), DIC Corporation (Japan), Olin Corporation (US), Huntsman Corporation (US), Nan Ya Plastics Corporation (Taiwan), Kukdo Chemical Co., Ltd. (South Korea), Aditya Birla Chemicals (India), Mitsubishi Chemical Group Corporation (Japan), and BASF SE (Germany). Continuous developments in the marketincluding new product launches, mergers & acquisitions, agreements, and expansionsare expected to help the market grow.
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Another major player is Angus Fire (UK). The company is one of the leading and oldest manufacturers of Epoxy Resin and has established its brand in different regions. It has a wide geographical presence across North America, South America, APAC, Europe, and the Middle East & Africa. The company manufactures various types of foams for differing end-use industries, such as oil & gas, aviation, marine, mining, and others.
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