Global Epoxy Resins Market Highlights Over 2022 - 2031

The global epoxy resins market is estimated to garner around USD 10 billion in revenue by 2031 by growing at a CAGR of nearly 7% over the forecast period, i.e., 2022 –  2031. The growth of the market can be attributed to the increasing demand from end-use industries, such as transportation, building and construction, and others. For instance, resin production in the United States stood at over 120 billion pounds in 2020. Further, rising need for lightweight composites in aerospace and wind turbine applications is also driving the market growth. Additionally, epoxy resins offer stronger mechanical performance in wind turbine blades, mainly tensile and flexural strength which are also the major factors expected to boost the market growth. For instance, between 2010 and 2020, more than 60,000 utility-scale wind turbines were installed in the U.S.

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The COVID-19 pandemic had a negative impact on the epoxy resins market on the back of the strict regulations imposed by governments in several countries. Further, the various industries, such as paints and coatings, adhesives, electrical and electronics, wind turbines, and others got affected due to supply chain disruptions, work stoppages, and labor shortages during the pandemic.      

However, releasing toxic gases of the key raw materials of epoxy resin, such as epichlorohydrin (ECH) and bisphenol A (BPA), the non-biodegradable nature of epoxy resin, and volatile raw material prices are the key factors restraining the growth of the market.  

The market is segmented by physical form into solid, liquid, and solution, out of which, the solution segment is anticipated to hold the major share over the forecast period. The growth can be attributed to the increasing demand for solution-based epoxy resins in electrical & electronic applications on the back of their improved chemical resistance properties.

Global Epoxy Resins Market Regional Synopsis

Regionally, the global epoxy resins market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness significant growth over the forecast period on the back of increasing industrialization and growing infrastructural development. Additionally, rising disposable income and willingness to spend, and easy availability of raw materials for the use of epoxy resin-based products are also the key factors expected to drive the market growth over the upcoming years.

Further, increasing production of automobiles on the back of rising demand of automotive from China and India is predicted to propel the market growth in the region. In 2021, over 20 million passenger cars and over 4 million commercial vehicles were produced in China, while India produced over 20 million vehicles. Moreover, China is the world’s largest producer of electronics which is also a major factor to boost the market growth.

Market Segmentation

Our in-depth analysis of the global epoxy resins market includes the following segments:

By Type

• Diglycidyl Ether Bisphenol A (DGBEA)

• Diglycidyl Ether Bisphenol F (DGBEF)

• Novolac

• Aliphatic

• Glycidylamine

• Others

By Physical Form

• Solid

• Liquid

• Solution

By Application

• Paints & Coatings

• Adhesives

• Composites

• Electronic Encapsulation

• Others

By End User

• Building & Construction

• Transportation

• General Industrial

• Consumer Goods

• Wind Power

• Aerospace

• Marine

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Epoxy Resins Market

Growth Drivers

• Increasing demand from end-use industries, such as transportation, building and construction, and others

• Rising need for lightweight composites in aerospace and wind turbine applications

Challenges

• Releasing toxic gases of the key raw materials of epoxy resin, such as epichlorohydrin (ECH) and bisphenol A (BPA)

• Non-biodegradable nature of epoxy resin

• Volatile raw material prices

Key Companies Dominating the Global Epoxy Resins Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global epoxy resins market that are included in our report are BASF SE, Dow, Hexion, Huntsman International LLC., KUKDO CHEMICAL CO., LTD., NAN YA PLASTICS CORPORATION, Olin Corporation, Covestro AG, Solvay, Techstorm, SABIC, DSM, and others.     

Latest Developments in the Global Epoxy Resins Market:

• November 2021: Hexion announced its agreement with Westlake Chemical Corporation, to sell its epoxy-based Coatings and Composite businesses, which includes the epoxy specialty resins and base epoxy resins, and intermediates product lines.

• April 2021: Covestro AG completed the acquisition of the Resins & Functional Materials business (RFM) from the DSM, to expand its portfolio of sustainable coating resins.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the client's requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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