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Epoxy Resins Market Report

As per SNS Insider Research, Epoxy Resins Market Pioneering Growth with Innovative Formulations, Driving growth with innovations, resilience across industries.

Epoxy Resins Market surges with opportunities in sustainable innovations, advanced formulations, and diverse industry applications, driving dynamic growth.” - SNS Insider ResearchAUSTIN, TX, UNITED STATES, January 10, 2024 /EINPresswire / -- The Epoxy resin market growth is fueled by the escalating demand from the paints and coatings sector, along with the implementation of stringent environmental standards globally.

The global Epoxy Resin Market was valued at USD 24.61 billion in 2022 and is poised for remarkable growth, projected to surpass USD 42.28 billion by 2030, with a robust CAGR of 7% during the forecast period from 2023 to 2030, according to the report by SNS Insider.
Epoxy resins, revered for their exceptional adhesion, mechanical strength, and chemical resistance, are not mere chemical compounds but architectural wonders. Their molecular structure provides a canvas for innovation, allowing industries to paint a spectrum of solutions across construction, electronics, automotive, and more.

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Market Report Scope:
Epoxy resins, renowned for their exceptional physical, chemical, and mechanical properties, find extensive applications across various industries, from coatings to composites. These resins offer superior adhesion, making them ideal for adhesive and sealant manufacturing. The market scope extends to high-end applications, such as wind turbines and composites manufacturing, where the higher heat resistance and durability of special epoxies play a vital role. Leading companies are strategically investing in rapidly growing regional markets, like the Middle East and Africa, while the Asia Pacific remains a dominant consumer of epoxy resins, driven by high demand from China and India.

Market Analysis:
The versatile nature of epoxy compounds has led to their higher adoption in downstream industries, including construction, automotive, aerospace, electrical, electronics, and energy. The market is propelled by the increasing demand for advanced and long-lasting powder coatings, the popularity of lightweight materials in various industries, and high investments in the construction sector. However, fluctuating crude oil prices affecting raw material costs and stringent regulations on volatile organic compounds pose challenges to the industry's profitability.

Segment Analysis:
In terms of application, the paints and coatings segment held the major share, accounting for over 38% of revenue in 2022. Epoxy resin-based paints and coatings are extensively used in various industries, offering resistance to stains, extreme temperatures, and chemicals.

Market Segmentation and Sub-Segmentation Included Are:

By Physical Form
. Solid
. Liquid
. Solution

By Type
. DGBEA (bisphenol A & ECH)
. DGBEF (bisphenol F &ECH)
. Novolac (formaldehyde & phenols)
. Aliphatic (aliphatic alcohols)
. Glycidylamine (aromatic amines & ECH)

By Application
. Paints & Coatings
. Adhesives & sealants
. Composites
. Electronic Encapsulation & Others
. Others

By End Use Industry
. Building &construction
. Transportation
. General industrial
. Consumer goods
. Wind energy
. Aerospace
. Marine

By End-use Industry, the building and construction industry dominated in 2022, utilizing epoxy resins for coatings, adhesives, and structural applications.

Key Regional Development:
Asia Pacific leads the market, driven by large-scale manufacturers and robust raw material availability. China, a global leader in epoxy consumption, boasts a well-established paint and coatings industry. Europe follows closely, with Germany spearheading growth in automotive, wind energy, and composites. In North America, increasing digitization and infrastructure projects contribute to market expansion.

Key Takeaways for Epoxy Resins Market Study:

. Paints and coatings, along with the building and construction sector, are the primary drivers of market growth.
. Asia Pacific leads in both volume and revenue, with China playing a pivotal role.

Impact of Covid-19
The Covid-19 pandemic has left an indelible mark on global industries, and the Epoxy Resins Market is no exception. This analysis delves into the profound impact, challenges faced, and the adaptive strategies employed by the market in response to the unprecedented disruptions.

. Immediate Disruptions and Supply Chain Challenges:
The initial wave of the pandemic triggered immediate disruptions across the epoxy resins supply chain. Lockdowns, restrictions on movement, and workforce shortages impacted manufacturing and distribution, leading to delays and interruptions in the availability of epoxy resin products.

. Depressed Demand Across Industries:
Industries heavily reliant on epoxy resins, such as construction and automotive, experienced a significant decline in demand. With construction projects delayed and automotive production scaled down, the market grappled with reduced orders and a slowdown in key sectors.

. Impact on Innovation and Product Development:
The pandemic-induced challenges affected research and development activities within the epoxy resins market. Projects aimed at formulation innovations and product development were delayed or put on hold as companies prioritized essential operations and cost management.

. Shift in Consumer Behavior and Demand Patterns:
Changes in consumer behavior, such as reduced construction activities and shifts in automotive preferences, influenced demand patterns. Industries adapted to evolving market needs, with some sectors experiencing an increased demand for epoxy resins in applications related to healthcare, packaging, and electronic devices.

. Supply Chain Resilience and Adaptations:
In response to supply chain challenges, the epoxy resins market demonstrated resilience. Companies diversified sourcing strategies, explored local supply chains, and enhanced inventory management to mitigate the impact of potential future disruptions.

. Accelerated Focus on Sustainability:
The pandemic acted as a catalyst for an accelerated focus on sustainability within the epoxy resins market. Companies explored eco-friendly formulations, emphasizing the importance of green chemistry and environmentally conscious solutions to align with changing market preferences.

.Recovery and Future Outlook:
As economies gradually recover, the epoxy resins market is poised for resurgence. Increased construction activities, infrastructure development projects, and a rebound in automotive production are expected to drive demand. The market's adaptability and innovations in sustainable practices position it for a robust recovery.

Recent Developments:
. In April 2021, KUKDO Chemicals expanded its epoxy resin production capacity with the Busan YD-128 new factory
. In April 2020, Hexion Inc. introduced a lower yellowing epoxy system and a unique amine curing agent to meet environmental standards.

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Conclusion
The immediate disruptions caused by the pandemic compelled the epoxy resins market to demonstrate remarkable resilience. Supply chain challenges, depressed demand in key sectors, and delays in research and development projects were navigated with agility. Companies within the market showcased adaptability as they recalibrated strategies to address the evolving landscape.
The pandemic-induced shifts in consumer behavior and demand patterns prompted the epoxy resins market to adapt swiftly. While some sectors experienced a downturn, others witnessed an upswing. The market's ability to align with evolving market needs and explore applications in areas like healthcare, packaging, and electronics showcased its dynamic responsiveness.

Table of Contents - Major Key Points Covered in the Report

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions


2 . Research Methodology


3 . Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges


4 . Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World


5.Value Chain Analysis


6.Porter's 5 forces model


7. PEST Analysis


8 . Global Epoxy Resins Market, By physical Form

8.1 Solid

8.2 Liquid

8.3 Solution


9. Global Epoxy Resins Market, By Type

9.1 DGBEA (bisphenol A & ECH)

9.2 DGBEF (bisphenol F &ECH)

9.3 Novolac (formaldehyde & phenols)

9.4 Aliphatic (aliphatic alcohols)

9.5 Glycidylamine (aromatic amines & ECH)

9.6 Others


10. Global Epoxy Resins Market, By Application

10.1 Paints & Coatings

10.2 Adhesives & sealants

10.3 Composites

10.4 Electronic Encapsulation & Others

10.5 Others


11 . Global Epoxy Resins Market, By End Use Industry

11.1 Building &construction

11.2 Transportation

11.3 General industrial

11.4 Consumer goods

11.5 Wind energy

11.6 Aerospace

11.7 Marine


12 . Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America



13. Company Profiles

13 Birla Chemicals (India),

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Kukdo Chemical Co., Ltd (South Korea),

13.3 Kolon Industries (South Korea), Inc,

13.4 Atul Ltd (India), Ciech S.A. (Poland),

13.5 Huntsman International Llc (U.S.),

13.6 China Petrochemical Corporation (China),

13.7 Nan Ya plastics corporation (Taiwan),

13.8 Hexion (U.S.),

13.9 Chang Chun Group (Taiwan),

13.10 Spolchemie (Czech Republic),

13.11 Olin Corporation (U.S.),

13.12 Macro Polymers (India),

13.13 Dow (U.S.)


14. Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share Analysis

14.3 Recent Developments


15 . Conclusion

About Us
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