[Online Quarterly Update] Global Epoxy Resin demand is projected to grow at a healthy CAGR of 6.32%. In 2020, Global Epoxy Resin capacity stood at around 5.50 million tonnes and 42 percent of demand was emanated from Asia Pacific region. Epoxy resin is a thermosetting copolymer produced through polymerization of epoxide and other monomers containing hydroxyl group. Epoxy resins are of different types including diglycidyl ether bisphenol A (DGBEA) which is formed epichlorohydrin (ECH) with bisphenol A, diglycidyl ether bisphenol F (DGBEF), epoxyphenol novolac (EPN) which are produced by reacting epichlorohydrin with novolac, aliphatic epoxy resins which are formed by epoxidation of double bond, halogenated epoxy resins, and others. They have various properties such as corrosion resistance, high thermal stability, high mechanical strength, high chemical and environmental resistance, durability, adhesion etc. owing to these properties, epoxy resins find application in several areas including paints and coatings, adhesives, composites, electronic encapsulation, and others. Major end use industries for epoxy resins include building and construction, automotive, general industrial, consumer goods, wind power, aerospace, marine, and others. Increasing demand of light weight high performance materials from the construction and automotive sectors coupled with the increasing demand for high performance materials in the wind power and aerospace industry is expected to drive the demand for epoxy resins for the forecast period. Moreover, the increasing need for biodegradable polymers and stringent environmental regulations regarding bisphenol A are expected to hinder the demand growth during the forecast period.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns which had an impact on a number of industries. Construction and automotive were among the most affected industries during the pandemic. This had an impact on the demand of epoxy resin for the first half of 2020. Therefore, the demand for epoxy resin fell during the coronavirus pandemic from the construction and automotive segments.
Region wise, Asia pacific region holds the major share of global demand for epoxy resin due to increasing demand of application areas including construction and automotive. Moreover, increasing population and per capita income is another factor propelling demand growth in Asia Pacific.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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Objective of the Study:
•To assess the demand-supply scenario of epoxy resin which covers production, demand and supply of epoxy resin market globally.
•To analyse and forecast the market size of epoxy resin .
•To classify and forecast global epoxy resin market based on technology, end-use and regional distribution.
•To identify drivers and challenges for global epoxy resin market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global epoxy resin market.
•To identify and analyse the profile of leading players involved in the manufacturing of epoxy resin.
Major players for epoxy resin globally include Olin Corporation, Nan Ya Plastics Corporation, Huntsman Corporation, Hexion Inc, Kukdo Chemical Co. Ltd., Chang Chung Plastics Co. Ltd, Aditya Birla Chemicals the 3M Company, BASF SE, Sinopec Corporation, and Others.
To extract data for global epoxy resin market, primary research surveys were conducted with epoxy resin manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global epoxy resin market over the coming years.
ChemAnalyst calculated epoxy resin demand globally by analyzing the historical data and demand forecast which was carried out considering imported epoxy resin, prices, materials used for production of epoxy resin . ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Epoxy resin manufacturers and other stakeholders
•Organizations, forums and alliances related to epoxy resin distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as epoxy resin manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, global epoxy resin market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Application
Paints and Coatings, Adhesives, Composites, Electronic Encapsulation
Market, by Type
Diglycidyl Ether Bisphenol A (DGBEA), Diglycidyl Ether Bisphenol F (DGBEF), Epoxy Phenol Novolac (EPN), Aliphatic Epoxy Resins, Halogenated Epoxy Resins
Market, by Sales Channel
Direct Company Sale, Direct Import, Distributors & Traders, Retailers
Market, by Region
North America, APAC, Europe, MEA, South America
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