A comprehensive analysis of the global epoxy resin market, including market size and forecasts for 2022through 2028.
Over the next five years, the Epoxy Resin Market is expected to grow at a compound annual growth rate (CAGR) of 6.8%, from 2022 to 2028, from its current sales of approximately $9.1 (USD Billion).
The report’s goal is to provide a complete evaluation of the market, which includes insightful insights, facts, historical data, industry-validated market data, and predictions with a proper set of assumptions and methodology. Helps comprehend Epoxy Resin industry dynamics and structure by categorizing and forecasting market segments, as well as market size projections. Aside from that, the research examines important competitors in terms of their products and pricing as well as their overall financial health and growth strategy. PEST analysis, Porter’s analysis, and SWOT analysis are also included in the study to help shareholders prioritize their efforts and investments for the Epoxy Resin market’s rising segment in the near future.
Corrosion, water and chemical resistance are better in epoxy resins. Its excellent adhesion, thermal stability, long-term use, and mechanical strength make epoxy resin a popular choice in the aerospace sector. Despite this, the market’s expansion may be hampered by variable raw material costs and high epoxy prices.
As a result of its superior performance, expanding research and development, and increasing application in many end-user sectors worldwide, demand for epoxy resin is increasing. In addition to their excellent adhesive and mechanical qualities, epoxy resins are extremely adaptable and may be used in a broad variety of applications.
The worldwide epoxy resin market is dominated by paints and coatings, followed by electronic encapsulation & others, composites, and others. Epoxy-based paints and coatings are in great demand from a variety of sectors, including building and construction, automotive, and others, since they protect against corrosion and rust.
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The properties of epoxy resin, such as high physical and mechanical strength, good dimensional stability, excellent dielectric properties, etc., make it an ideal insulation material for electronics and electrical applications that need protection in extreme and dangerous environments (such as, chemical plant equipment, deep sea, and engine management).
Because of its superior chemical resistance, durability, strong binding strength and adhesion, and short drying time, epoxy resins are widely utilized in chemical and special purpose coatings.
The building and construction industry is predicted to be the main end-user industry. The epoxy resin market in the building and construction end-use industry is being driven by a growth in employment, an increase in public and private non-residential investment, and an increase in green building construction. Even though this sector’s growth has halted, it still has the potential to increase the epoxy resin industry.
In 2022, Asia Pacific accounted for the largest regional market. It’s an appealing market because of its rapid industrialisation and infrastructure development. A significant portion of the Asia-Pacific market is driven by nations like China and Japan. South Korea, India, Taiwan, Malaysia, Thailand, Indonesia, and the Philippines are other prominent players. There is a strong need for epoxy resins in the Asia Pacific area, which is being fueled by the expansion of infrastructure and the increasing demand for automobiles.
There will be a strong demand for epoxy resin for noise reduction on roads and trains in rising countries in the Middle East and Africa, as well as South America. These applications are likely to increase at a rapid rate.
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