Market Analysis: —
Global Epoxy Resin Market is predicted to touch USD 7,699.6 million at a 5.38% CAGR between 2019- 2025, as per the recent report by Market Research Future (MRFR). Epoxy Resin is a flexible thermosetting resin, which is a form of reactive polymer and prepolymer having epoxide groups. Aliphatic, glycidyl amine, novolac, DGBEA, DGBEF, and others are the different types of Epoxy Resins.
Various factors are adding to the Epoxy Resin Market Growth. According to the new MRFR report, such factors include increasing use in the transportation and automotive industry, growing demand from the paints and coatings industry, and alluring features such as strong adhesion & high corrosion resistance.
On the contrary, the use of harmful chemical substances and strict government regulations to limit production are factors that may limit the Epoxy Resin Market Growth.
COVID-19 Analysis/COVID-19 Impact on Epoxy Resin Market:
The COVID-19 outbreak had a massive impact on the Epoxy Resin Market for the shortage of raw materials and lack of manpower owing to lockdown and social distancing. But post-pandemic its demand is likely to increase.
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The MRFR report offers an inclusive segmental analysis of the Global Epoxy Resin Market Report based on End Use, Application, Technology and Type.
By Type, Global Epoxy Resin Market Is segmented into aliphatic, glycidyl amine, novolac, DGBEA, DGBEF, and others. Of these, the DGBEF segment will lead the market over the forecast period. Factors fuelling the growth of the segment include the increasing use of epoxy resin in the production of materials used in various industries like building and construction, and automotive. This will be followed by the DGBEA segment that is likely to have significant growth over the forecast period.
By Technology, Global Epoxy Resin Market is segmented into liquid epoxy, waterborne epoxy, solvent cut epoxy, and others. Of these, the liquid epoxy market will dominate the market over the forecast period for increasing application in the paints and coatings industry. This will be followed by the waterborne segment, which is predicted to grow at a fast pace over the forecast period for its increasing use in powder coating.
By Application, Global Epoxy Resin Market is segmented into grouts and mortars, electronic encapsulation, adhesives, composites, paints and coatings, and others.
By End Use, Global Epoxy Resin Market is segmented into marine, aerospace, electrical and electronics, automotive & transportation, building & construction, and others. Of these, the building and construction sector will have a major share in the market over the forecast period for increasing worldwide infrastructure development. This will be followed by the automotive industry, which is predicted to have substantial growth over the forecast period. It’s increasing use in automobile parts manufacturing is adding to the growth of the segment.
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Leading Players Profiled in the Global Epoxy Resin Market Report include Dow (US), Macro Polymers (India), Chang Chun Group (Taiwan), Kukdo Chemical Co., Ltd (South Korea), Hexion (US), China Petrochemical Corporation (China), Nan Ya plastics corporation (Taiwan), Spolchemie (Czech Republic), Huntsman International Llc (US), Ciech S.A. (Poland), Atul Ltd (India), Kolon Industries (South Korea), Inc, Aditya Birla Chemicals (India), and Olin Corporation (US).
Based on the Region, Global Epoxy Resin Market Report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), and Middle East Africa (MEA). Of these, the US will lead the market as it is the biggest market for second-hand vehicles; thus the demand for epoxy resin in the automotive refinish coatings production is predicted to boost the regional market growth between the forecast period. Burgeoning demand in paint production used in the auto industry is booming in the APAC region for consumers increasing disposable income and an increase in automobile production. The growth of the market in Europe is driven by the booming aerospace industry & infrastructure development that, in turn, is likely to increase the demand for architectural coatings in this region. The Epoxy Resin Market in the MEA is predicted to have sound growth over the forecast period for the increase in infrastructure projects coupled with the high production of aircraft, automobile parts, and electronic components.
COVID-19 Study in Detail:
COVID-19 Impact Analysis on Polyvinyl Chloride (PVC) Market @ https://www.marketresearchfuture.com/report/covid-19-impact-pvc-market
COVID-19 Impact on 3D Printing Materials Market @ https://www.marketresearchfuture.com/report/covid-19-impact-3d-printing-materials-market
COVID-19 Outbreak Impact on Carbon Black Market @ https://www.marketresearchfuture.com/report/covid-19-impact-carbon-black-market
NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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