The Global Report on the Epoxy Resin Market, as discussed by Market Research Future (MRFR), has developed a curve where it is slated to surpass USD 7,699.6 million by 2025 by rising with a 5.38% CAGR during the forecast period of 2019 to 2025. High chemical and corrosion resistance are expected to provide tailwinds to the market and ease its percolation across industries like construction, automotive, marine, electrical & electronics, and others. The growing demand for eco-friendly products and research work to back such developments are also expected to boost the market.
Aditya Birla Chemicals (India), Olin Corporation (US), Inc, Atul Ltd (India), Kolon Industries (South Korea), Huntsman International Llc (US), Ciech S.A. (Poland), Nan Ya plastics corporation (Taiwan), Spolchemie (Czech Republic), Hexion (US), Kukdo Chemical Co., Ltd (South Korea), Chang Chun Group (Taiwan), Macro Polymers (India), China Petrochemical Corporation (China), and Dow (US) are some of the major names involved in a competitive struggle to ensure better market positioning and trigger the global market growth. Strategic mechanisms, introduced in the last few years,s have been recorded by MRFR to understand trends that are impacting the market.
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The Global Report on the Epoxy Resin Market has been studied by analysts to understand the market flow and it includes segments like Type, Technology, Application, and End Use. This analysis sheds light on several factors that can ensure better growth and help in developing tactical tools.
By Type, the Global Report with details of the Epoxy Resin Market includes DGBEA, DGBEF, aliphatic, novolac, glycidyl amine, and others. The Diglycidil Ether of Bisphenol-F (DGBEF) segment outdid others in 2018, as it witnessed huge intake in industries like automotive and building & construction.
By Technology, the Global Epoxy Resin Market includes liquid epoxy, waterborne epoxy, solvent cut epoxy, and others. The liquid epoxy resin had the maximum market coverage due to the strong demand generated by paints & coatings. The waterborne epoxy resin segment is outpacing others by recording the fastest CAGR during the forecast period.
By End Use, the market report containing the details of the Epoxy Resin Market studied segments like automotive & transportation, building & construction, marine, electrical & electronics, aerospace, and others. The building & construction industry leads the global market from the front with a predicted valuation of USD 2,696.2 Million until 2025 as the infrastructural developments across the globe are getting momentum. The automotive industry would record the fastest CAGR during the forecast period.
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Asia Pacific has the upper hand as the regulatory norms are flexible in the region. The region is also benefiting from the burgeoning construction and automotive sectors. In Europe and North America, the market may witness a strong rise in demand for eco-friendly products.
The Global Market for Epoxy Resin is expected to get hit by the recent expansion of COVID-19 pandemic and countermeasures introduced by governments to prevent the disease from spreading. In sectors like construction, automotive, and others, this impact is massive due to the strict measures taken by companies. Production and manufacturing units were stopped from functioning with their full capacity. The construction sector witnessed a drastic drop in the workflow, owing to which end user companies reduced their intake of Epoxy Resin. However, its use in the electrical and electronics segment is likely to resist adverse influences as the demand for certain healthcare tools is growing, which would generate a high demand for Epoxy Resin products.
COVID-19 Study in Detail:
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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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