(MENAFN- EIN Presswire)
Epoxy
Asia-Pacific dominates the epoxy market, driven by rapid industrial growth and increasing demand in construction and manufacturing sectors
Epoxy demand is surging due to its superior bonding, durability, and versatility in industries like construction, automotive, and electronics.” - Exactitude Consultancy
LUTON, BEDFORDSHIRE, UNITED KINGDOM, August 17, 2024 /EINPresswire / -- Exactitude Consultancy Research newly added a research report on the Global Epoxy Market, which represents a study for the period from 2024 to 2030. Increasing demand for paints and coatings is anticipated to drive market growth significantly during the forecast period. Increasing demand for epoxy resins is attributed to growing spending on construction, particularly residential construction, especially in North America and Western Europe. The rapid growth in global manufacturing activities is expected to fuel the demand for paints & coatings used in the production of motor vehicles and other durable goods, as well as industrial maintenance applications. This is expected to boost the demand for epoxy resins globally.
The global epoxy market is projected to reach USD 17.56 billion by 2030 from USD 9.97 billion in 2023, at a CAGR of 7.3 % from 2024-2030.
Major Companies Included in Report are-
Huntsman Corporation, Dow Chemical Company, Hexion Inc., 3M Company, BASF SE, Sika AG, Olin Corporation, Aditya Birla Chemicals, Kukdo Chemical Co. Ltd., Evonik Industries AG, Atul Ltd. and others.
Industry News
In February 2023, Huntsman introduced a new product called JEFFAMINE M-3085 amine, which is a mono-polyether amine with a higher molecular weight compared to commonly used amine variants such as JEFFAMINE M-2070 amine and JEFFAMINE M-1000 amine.
In February 2022, Westlake Chemical Corporation announced the successful completion of its acquisition of Hexion Inc.'s global epoxy business. With this strategic acquisition, Westlake Chemical further strengthens its position in the industry and expands its capabilities in the manufacture and development of specialty resins, coatings, and composites.
To Check the Complete Table Of Contents, click here @ –
Epoxy Market Growth Factors:
The epoxy market is experiencing significant growth due to several key factors. The expanding construction industry is a major driver, as epoxy resins are widely used in flooring, coatings, and adhesives for their superior durability, chemical resistance, and bonding strength. Additionally, the electronics sector is fueling demand, with epoxy resins being crucial in the production of circuit boards and other components due to their excellent insulating properties. The automotive industry also contributes to market expansion, leveraging epoxy for lightweight and high-performance composites. Furthermore, growing awareness of eco-friendly products has led to innovations in bio-based epoxy resins, catering to the rising demand for sustainable materials. These factors, combined with ongoing research and development, are propelling the epoxy market forward.
Epoxy Market Segmentation
Epoxy Market by Type 2022-2029, (USD Billion) (Kilotons)
Glycidyl Epoxy
Glycidyl-ether
Glycidyl-ester
Glycidyl-amine
Non-glycidyl Epoxy
Aliphatic
Cycloaliphatic
Epoxy Market by Application, 2022-2029, (USD Billion) (Kilotons)
Paints & Coatings
Construction and Flooring
Automotive and Public Transport
Water Pipework
Food Packaging
Others
Get Sample PDF of Epoxy Market Research Report @
#request-a-sample
Epoxy Market Segment by Regions, regional analysis covers
The Asia-Pacific region dominates the global epoxy market, primarily due to its robust industrial base and rapid urbanization. Countries like China, India, and Japan are major contributors, with strong demand from the construction, automotive, and electronics industries. China, in particular, leads the market due to its vast manufacturing sector and significant investments in infrastructure development. The region's growing middle class and increasing consumer spending further boost demand for epoxy-based products, especially in automotive and consumer electronics. Additionally, favorable government policies and the availability of raw materials at competitive prices make Asia-Pacific a key player in the global epoxy market. Meanwhile, North America and Europe also hold significant shares, driven by advanced technologies and sustainability initiatives, but Asia-Pacific remains at the forefront of market growth.
Request For Customization at:
Key questions answered in this report
What will the market size be in 2030 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Get More:
We offer customization on report based on customer's specific requirement:
– country-level analysis for the 5 countries of your choice.
– competitive analysis of 5 key market players.
– 40 free analyst hours to cover any other data point.
Regional Link:
Thank you for reading it all the way to this point; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.
About Us
Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.
Connect Us:
Irfan T
Exactitude Consultancy
+1 704-266-3234
email us here
Visit us on social media:
X
LinkedIn
MENAFN17082024003118003196ID1108569924
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.