Global Epoxy Resin Market Insights: —
Epoxy Resins, or Polyepoxides have proven to be far more efficient than other resin types. Displaying a range of mechanical properties Epoxy offers a good resistance to water & Chemicals alike, high adhesive strength and a high electrical insulation. Additionally, it can absorb both mechanical and thermal stresses therefore offering stiffness, toughness and heat resistant properties along with the environmental degradation resistance.
Today, Epoxies cover a vast area of application across automotive, aircraft manufacturing and marine industries. Fiber Epoxy composites are used in aircraft engine to enhance the performance of the system. Fiber glass resin composites are now used across transport systems. Other key application areas include construction and electronics sectors. Attributing to its vast uptake in these industries; Epoxy is increasingly garnering the market traction.
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Accrediting prominence the market is gaining currently demonstrating the growth prospect; Market Research Future has recently published a study report giving out market insights up to 2023. According to the report, the Global Epoxy Resin Market is estimated to accrue USD 10,620.5 million by 2023 posting a CAGR of 5.24% during the estimated period 2017-2023.
Factors that predominantly drive the Epoxy Resins market growth include augmenting demand from the burgeoning industries like Building & Construction, Automotive & Transport, and Electricals & Electronics. Rising trends of automotive industry such as lower emission, light vehicles and fuel efficiency are escalating the market to the ascended heights. The market is significantly influenced by the burgeoning healthcare, pharmaceutical and Personal Care product industry Moreover, the rising number of vehicles in APAC region particularly in China, India and Indonesia is also one of the major growth driver.
Worldwide Epoxy Resin Market - Competitive Analysis
Epoxy Resin market appears to be highly competitive and fragmented. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players.
Industry/Innovation/ Related News:
January 5, 2018 - Nordson ASYMTEK (USA) a global leader in dispensing, jetting, and coating equipment and technologies, announced acquisition of Infiniti Dosing o.m.s (Germany) a leading manufacturer of highly viscous and abrasive fluids including epoxy resins, potting compounds etc.
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January 10, 2018 – Techsil (UK), a global distributor of industrial adhesives, sealants, tapes and dispensing equipment introduced a new medical grade potting epoxy (epoxy-based adhesive) Structalit 8801 - the biocompatible adhesive was specially designed for bonding temperature-sensitive substrates as it cures quickly at low temperatures.
January 15, 2018 – Hexcel Corporation (US) – a global manufacturer of advanced composite materials for skis, snowboards and other high-performance winter sports equipment announced that it will be showcasing the latest innovation - HexPly M78.1 (addition to its HexPly prepreg range) at the ISPO (Munich - 28-31 January 2018). HexPly M78.1 helps ski manufacturers to reduce production cycle times featuring a fast-curing epoxy resin matrix and is available with carbon, glass or aramid fibre reinforcements. It cures in just seven minutes at 120°C, yet it has a long storage out life of two weeks at room temperature, meaning there is often no need for freezer storage, saving time and energy.
Worldwide Epoxy Resin Market - Segments
For the convenience of the report and enhanced understanding the analysis is segmented in to 4 key dynamics:
By Types: Comprises Glycidyl Epoxy and Non-Glycidyl Epoxy.
By Technology: Liquid Epoxy, Waterborne Epoxy, Solvent Cut Epoxy, and other.
By Applications: Building & Construction, Automotive & Transportation, Electrical & Electronics, Adhesives & Sealants, Marine, and other.
By Regions: North America, Europe, APAC and Rest of the World.
Worldwide Epoxy Resin Market - Regional Analysis
Asia Pacific dominates the global market of Epoxy Resin owing to the augmenting demand from construction sector and the manufacture of consumer goods and expanding production capacity in this region. The region is estimated to grow at considerable CAGR throughout the review period.
North America is the second largest market of Epoxy Resins owing to the major contribution from the US owing to the greater penetration of end user industries in the country.
Europe is another substantial region in the Global Epoxy Resin Market accounting for a 9.28% share of the market in 2016.
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