Epoxy Resin Market was close to USD 10.93 billion on the basis of revenue, by the end of the year 2021 and is estimated to rise at a CAGR of 7.54%

HYDERABAD, TELANGANA, INDIA, September 8, 2022 /EINPresswire.com/ -- Epoxy Resin Market was close to USD 10.93 billion on the basis of revenue, by the end of the year 2021 and is estimated to rise at a CAGR of 7.54% to reach around USD 13.45 billion by the end of the foreseen period.

The epoxy resin is a molecule containing more than one epoxy group capable of being converted to a thermoset form. Epoxy resins should only be made using gloves and a face shield and while working in hoods or well-ventilated areas. The epoxy resins are reactive intermediates that before they can be useful products must be cured or cross-linked. Some individuals on prolonged contact with epoxy resins may develop a skin sensitization evidenced by blisters or other dermatitis conditions.

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Drivers:

Increasing the usage of long-lasting & advanced powder coatings has raised demand across metal coating applications are driving the market’s revenue. The growing demand for epoxy resin in the aerospace industry has increased at a faster pace for the assembly of aircraft panels and helicopter rotor blades to drive market growth. The increased market demand for accessible and processed foods and drinks is driving market growth. Rising the usage of glass packaging because of to avoid rust in containers and jars to drive the market growth.

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Restraints:

The health hazards associated with the epoxy resin flooring as they release strong toxic fumes may cause the lungs and eyes to restrain the market growth.

Segmentation Analysis:

Epoxy Resin Market - By Technology
• Liquid Epoxy
• Solid Epoxy
• Waterborne Epoxy
• Solvent Cut Epoxy
• Others

Based on the technology:

The Solid Epoxy segment was recorded as the largest market share in the epoxy resin market in 2022 and it is anticipated to grow significantly during the forecast period. The segment is expected to increase its use in powder coating applications to drive market growth.

Epoxy Resin Market - By Application

• Building & Construction
• Automotive & Transportation
• Electrical & Electronics
• Adhesives & Sealants
• Paints And Coatings
• Marine
• Others

Based on the application:

Paints and Coatings held the largest share in the epoxy resin market in 2022 and it is anticipated to grow significantly during the forecast period. The resins are widely used in metal coatings, floor coatings, marine & automotive part coatings, white good coatings, and other protective coatings and therefore are extremely important in the epoxy resin market.

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Epoxy Resin Market – By Type

• DGBEA (bisphenol A & ECH)
• DGBEF (bisphenol F &ECH)
• Novolac (formaldehyde & phenols)
• Aliphatic (aliphatic alcohols)
• Glycidylamine (aromatic amines & ECH)
• Others

Based on the type:

The DGBEA segment held the largest share market in the epoxy resin market in 2022 and it is anticipated to grow significantly during the forecast period. The epoxy resin made from bisphenol is more useful to public health, food safety, efficient manufacturing, and modern life. It is used for chemical resistance and other specialized properties to drive market growth.

Epoxy Resin Market – By End Use Industry

• Building &construction
• Transportation
• General Industrial
• Consumer goods
• Wind energy
• Aerospace
• Marine

Based on the end-use industry:

The Consumer Goods industry held the largest share market in the epoxy resins market in 2022 and it is anticipated to grow significantly during the forecast period. The epoxy resin serves as transformers, over molding transistors, and integrated circuits to drive the market growth.

Regional Analysis:

• North America
• Europe
• The Asia Pacific
• Latin America
• Middle East and Africa

The Asia Pacific is the largest growing region in the epoxy resin market and is expected to grow significantly during the forecast period. The Asia Pacific has a high availability in the countries such as China, Japan, India, Indonesia, and South Korea. The reason for this dominance of the region is the growth and popularity of the epoxy resin market and the increase in alliances among leading players that help to discover new commercial products in the market and this is likely to create growth in the region’s market. China and India is the largest market supporting the growth of epoxy resins. There has been rapid growth in the epoxy resin market in the region leading to global market growth.

Europe is expected to be growing lucratively in the epoxy resin market.

Latest Industry Developments:

In February 2022, Hexion Holdings Corporation completed the sale of its epoxy-based Coatings and Composite businesses, which includes the epoxy specialty resins and base epoxy resins and intermediates product lines, for approximately USD 1.2 billion to Westlake Chemical Corporation.
In April 2021, KUKDO Chemicals was expanding its epoxy resins production capacity with the Busan YD-128 new factory construction with an annual capacity of 100,000 tons.

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