What is Epoxy Resin Market?
Epoxy resins are a common type of reactive prepolymer containing epoxide groups. It is commonly used as an adhesive for structural applications due to its strong properties. Growing demand for flexible composites and adhesives for bonding where elasticity and pliability are required. Epoxies are also becoming more popular for flooring applications in supermarkets and grocery stores for a smooth surface and better appearance. Epoxies are also used for the decoration of handicrafts and for making epoxy-based decorative artifacts that will accelerate the growth of the epoxy resin market in the nearer future.
Highlights from Epoxy Resin Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||Hexion (United States), Huntsman Corporation (United States), Kukdo Chemical (South Korea), DIC Corporation (Japan), Olin Corporation (United States), Mitsubishi Chemical Corporation (Japan), Aditya Birla Chemicals (India), Total Plastics International (United States), Hernon Manufacturing, Inc. (United States), Copps Industries, Inc. (United States), ADEKA Corporation (Japan), BASF (Germany), 3M (United States), Sinopec (China), DuPont (United States), Chang Chun Group (Taiwan) and Nan Ya Plastics (Taiwan)|
The global market consists of a large number of manufacturers that are focusing on the research & development of bio-based materials and targeting innovation of epoxy materials with better characteristics and quality. Manufacturers are also focusing on mergers & acquisitions, new product launches, and partnerships for further expansion in the global market. Hexion (United States), Huntsman Corporation (United States), Kukdo Chemical (South Korea), DIC Corporation (Japan), Olin Corporation (United States), Mitsubishi Chemical Corporation (Japan), Aditya Birla Chemicals (India), Total Plastics International (United States), Hernon Manufacturing, Inc. (United States), Copps Industries, Inc. (United States), ADEKA Corporation (Japan), BASF (Germany), 3M (United States), Sinopec (China), DuPont (United States), Chang Chun Group (Taiwan) and Nan Ya Plastics (Taiwan) are some of the key players profiled in the study.
Epoxy Resin Market Segmentation:
|Application / End User||Paints & Coatings, Adhesives, Composites, Electrical Laminates, Paint & Coating, Flooring, Sealant and Others|
|Type||Rubber Modified, Urethane Modified and Dimer Acid Modified|
On the basis of geography, the market of Epoxy Resin has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Use of Epoxy Resins in Electronics and Electrical Systems Due to Its Dust-Free and Moisture Resistant Properties
- Growing Demand for Decorative Paints and Coatings for White Goods, Other Household Objects, and Commercial Settings
- Evolution of Bio-sourced Epoxy Resins as an Alternative to Petroleum-based Epoxy Resins for Various Applications
- Rising Focus on Innovation of Epoxy-based Materials like Coatings, Adhesives, Etc.
- High Cost and Long Curing Time are the Major Obstacles of Some Epoxy Resins
- High Growth of Epoxy Resins for Tooling and Casting to Develop Injection Molded Parts Quickly
- Significant Demand for Epoxy Resins in Asia Pacific Region Due to High Growth in Construction Industry
- Medium to High Viscosity of Liquid Epoxy Resins
Market Leaders & Development Strategies
In May 2021, Sicomin launched its new fire retardant bio-epoxy hand laminating resin, SR FireGreen 37 to expand its GreenPoxy product range. The newly launched resin has halogen-free chemistry and low smoke opacity that is best suitable for application in transportation, civil engineering, and architecture applications.
In May 2022, Hexcel developed a new product range, HexPly that includes resin made by combining natural fibers and bio-based epoxy resins for various industrial applications. The new range of epoxies provides prepreg options with excellent resin characteristics and high mechanical performance.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Epoxy Resins Manufacturers, Suppliers and Distributors of Epoxy Resins, Regulatory Bodies, End-Users and Others