(MENAFN- Ameliorate Digital Consultancy)
Consumption of epoxy resins is expected to increase at a high CAGR of 6.9% from 2022 to 2031. In 2021, the global epoxy resins market was valued at US$ 11.22 billion , and is anticipated to reach US$ 21.87 billion by 2031-end.
Paints and coatings application of epoxy resins is expected to rise at a CAGR of 6.5% , attributed to their widespread use across industry verticals.
Download Free Sample Copy of This Report:
COVID-19 Impact on Sales of Epoxy Resins
The COVID-19 pandemic severely affected demand for epoxy resins in a wide range of applications, including paints and coatings, adhesives, wind turbines, and others due to delayed production activity, distribution and shipping restrictions, and global economic slowdown.
Strict lockdown resulted in limited access to working areas and labor scarcity. These variables had a negative impact on epoxy resin production and supply. During the COVID-19 pandemic, raw material shortages and halts in end-use industries hindered market expansion. Multiple issues, including production shifts, trade restrictions, and shipment and order delays, all hampered the market growth in various ways.
To survive the COVID-19 crisis, manufacturers are establishing balanced relations with epoxy resin suppliers and ecosystem partners. The restoration of industrial operations is expected to have a favorable impact on product demand. The epoxy resins sector is predicted to follow the global economic recovery trend, with the total market showing signs of improvement over the coming years.
Share Your Requirements & Get Customized Reports:
Competitive Landscape
Epoxy resin manufacturers are highly investing in new manufacturing facilities, training and research centers, distribution centers, and the acquisition of smaller companies with similar expertise.
With the epoxy resins industry becoming more competitive, prominent competitors are strategically focusing on reaching maximum production capacity to meet customers' expectations.
For instance :
In 2020 , Kukdo Chemicals India completed its epoxy production facility in Gujarat. This epoxy facility has an industrial capacity of 40,000 tons per year . Following China, the company has successfully launched its second overseas plant in India to meet domestic demand and provide consumers with optimum epoxy solutions.
Key Companies Profiled:
NAMA Chemicals DuPont 3M Company Kukdo Chemical Ltd. The Dow Chemical Company BASF SE Hunstman Corporation
Full Access to this Report Is Available:
Key Questions Covered in the Epoxy Resins Market Report
What is the projected value of the Epoxy Resins factors Industry in 2022? At what rate will the global Epoxy Resins factors market size grow until 2031? Which are the factors hampering the growth of Epoxy Resins factors? Which region is expected to lead in the global Epoxy Resins factors market By 2031? Which are the factors driving the Epoxy Resins factors Industry during the forecast period? What is the expected market value of the Epoxy Resins factors market during the forecast period?
Regional Analysis For Epoxy Resins Market:
APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania) North America (USA, Canada and Mexico) South America (Brazil, Chile, Argentina, Rest of South America) MEA (Saudi Arabia, United Arab Emirates, South Africa)
For More Insights of Fact.MR Trending Report:-
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email:
subscribe newsletter for the latest updates
Comments
No comment