According to the report titled ‘GLOBAL Epoxy Resins Market 2021-2028’, available with MarketStudyReport, global epoxy resins market is expected to grow at 5.01% CAGR over the analysis period 2021-2028.

 

Extensive product usage in aerospace industry, increasing R&D activities in technology, and rising demand for paints & coatings are driving the growth of global epoxy resins market.

 

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Moreover, factors such as expanding wind energy sector, enhanced use of natural raw materials in manufacturing of epoxy, and widespread adoption of modified resins are likely to open new opportunities for businesses in this domain.

 

Despite the positive aspects, health risks associated with BPA-based products, unstable raw material prices, and availability of alternative solutions are expected to impede industry development in the coming years.

 

Based on application, the market is categorized into composites, adhesives, paints & coatings, construction, wind turbine, electrical & electronics, and others. In terms of raw materials, worldwide epoxy resins industry is classified into glycidyl amine (aromatic amines & ECH), DGBEA (Bisphenol A & ECH), novolac (formaldehyde & phenols), aliphatic (aliphatic alcohols), DGBEF (Bisphenol F & ECH), and others. Concerning components, the market is divided into hardeners and epoxies. 

 

From a regional standpoint, the market spans across North America, Latin America, Asia Pacific, Middle East & Africa, and Europe. Among these, Asia Pacific market is expected to exhibit a strong growth rate throughout the projected timeline given the rapid infrastructure development, availability of skilled labor at low rates, and efforts of companies for expanding their capacity.

 

The competitive landscape of global epoxy resins market is defined by companies like Clariant AG, KUKDO Chemical (Kunshan) Co. Ltd., 3M Company, Dow Chemical Co., Cytec Industries Incorporated, Aditya Birla Chemicals Ltd., DuPont de Nemours Inc., Jubail Chemical Industries Company Limited, Nan Ya Plastics Corp., BASF SE, Chang Chun Plastics Co. Ltd., Momentive Performance Materials Holdings LLC,  Sinopec Baling Petrochemical Company, and Huntsman Corporation among others.