Epoxy Resins Market Size – USD 7.42 Billion in 2018, CAGR of 5.3%, Epoxy Resins Industry Trends – High demand from paint and coating industry.
New York, Jan. 22, 2020 (GLOBE NEWSWIRE) -- The global epoxy resins market is forecast to reach USD 11.86 Billion by 2027, according to a new report by Reports and Data. Epoxy resin is a molecule that contains more than one epoxide group.
Epoxy resins are thermosetting polymers and are used as high-performance coatings, adhesives, and potting and encapsulating materials. They also have excellent electrical properties, low shrinkage, and good adhesion to many metals and are resistant to moisture, thermal, and mechanical shock. Viscosity, epoxide equivalent weight, and molecular weight are the important properties of epoxy resins.
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Increasing demand for the resin in paints and coatings industry owing to the positive growth of automotive and construction globally has driven the epoxy resins market. Growth in end-use industries such as marine coatings, aerospace, transportation, decorative powder coatings, electrical & electronic laminates, and composites, are affecting the market positively. An increase in research and development by key participants, along with technology innovation in the field of modified resins, are expected to provide ample opportunities for growth of epoxy resins.
The growth in the infrastructure in the U.S. has driven the market for epoxy resin in the region. The steady growth of the commercial sector, majorly office space construction, is expected to have a positive impact on the market demand.
Further key findings from the report suggest
- Epoxy resin is among the commonly used thermosetting polymer in aircraft structures. It is used as the matrix phase in carbon-fiber composites for aircraft structures and is also used as an adhesive in aircraft structural repairs and joints.
- The reactivity of the epoxy resins allows them to bond easily with fibers and their toughness. This thermoset resins, when combined with carbon, glass, or aramid fibers, produce composite materials with the best properties of most thermosets.
- Diglycidil Ether of Bisphenol-A is an organic compound used as a constituent of epoxy resins. This compound is a colorless solid that melts slightly above room temperature. This type of epoxy resin has gained much attention as a potential endocrine disruptor. It also has antiandrogen and PPARγ-modulating properties.
- Solid epoxy resin is mainly used in paints and coatings, or as a modifier for other epoxy resins to enhance impact strength, adhesion, and extensibility.
- Usage of epoxy resins in adhesives is one of its most common application. The strong-properties of the epoxy allow for engineering and structural adhesives. Generally, it is used in the construction of aircraft, snowboards, vehicles, and bicycles.
- Asia Pacific dominated the market for epoxy resins. The demand for the market is high in the region because of the increase in the number of consumers. The major end-user of the product in the region is the paints and coatings industry. The presence of big companies such as AkzoNobel, Asian Paints, Nippon Paints, Kansai Paints, and PPG is driving the market for epoxy resins in the region.
- Key participants include Olin Corporation, Hexion Inc., Huntsman Corporation, BASF SE, 3M Company, Aditya Birla Chemicals, Sinopec Corporation, Covestro AG, Solvay SA, and Evonik Industries AG, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/epoxy-resins-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Epoxy Resins market on the basis of type, form, applications, end-users, and region:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Form Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Solid Epoxy Resin
- Liquid Epoxy Resin
- Solution Epoxy Resin
Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Adhesive and Sealants
- Paints and Coatings
End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Consumer Goods
- Building and Construction
- General Industrial
- Wind Power
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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