The global Epoxy Resin market was valued at $9.70 billion in 2021 and is expected to reach $14.40 billion in 2029 at a CAGR of 5.80% per year.
— Ethan
LOS ANGELES, CALIFORNIA, USA, March 2, 2023 /EINPresswire.com/ — Global Epoxy Resin Market Overview
A form of resin called epoxy is used to make things like plastic, wood, and metal pieces. The rising popularity of composites in the construction sector is expected to fuel demand for epoxy resins. In comparison to conventional materials like wood, concrete, and metals, composites manufactured from epoxy resins are lighter in weight, have a higher strength-to-weight ratio, and offer improved resistance to chemicals, heat, and moisture.
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Epoxy resin has a bright future ahead of it because there are so many untapped potential uses for it. Artificial intelligence with 3D printing are a couple of potential applications. Because it doesn’t produce any specific chemicals or processes, epoxy resin is also eco-friendly.
Market Segment and Regional Analysis
Epoxy resins come in a variety of forms, each having special characteristics and uses. Here is a description of a few of the most typical varieties. DGBEA (Bisphenol A and ECH): Due to its strength and corrosion resistance, this type of epoxy resin is most frequently employed in automotive parts. Formaldehyde and phenols are two components of the epoxy resin known as Novolac, which gives it strength and flexibility as well as thermal stability and resistance to UV radiation. Aliphatic (Aliphatic Alcohols): This form of epoxy resin is composed of straightforward molecules, which contribute to its affordability and lightweight.
A form of glue used to join various materials is epoxy resin. In addition to other things, they can be used to make composites, electrical and electronic components, paints and coatings, adhesives, and other things. Epoxy resins can be coloured to blend in with the other materials they are connected to, but they are normally white or clear. They are simple to use and can be found in liquid, powder, or paste form.
Epoxy resin usage has increased significantly worldwide. Epoxy resin use has significantly increased across the Asia Pacific, Europe, North America, South America, Middle East, and Africa. This is probably because of all the advantages that this chemical has to offer. For instance, it is reliable and simple to use.
Prominent Key Players of the Epoxy Resin Market
Huntsman Corporation, Bluestar Polymer Technologies Co., Ltd., Jiangsu Yangnong Kumho Chemical Company Limited, Sinopec Co., Ltd., Epoxy Base Electronic Material Limited, Kingboard Co., Ltd., Dalian Qihua Chemical Industry Co., Ltd., Aditya Birla Chemicals Limited, Atul Ltd., Sir Industriale Plastics Limited, and Hexion Specialty Chemicals are significant market participants in the global epoxy resin market (Germany).
Key Market Segments Table: Epoxy Resin Market
Based on types, the Epoxy Resin market is primarily split into:
• DGBEA (Bisphenol A and ECH)
• DGBEF (Bisphenol F and ECH)
• Novolac (Formaldehyde and Phenols)
• Aliphatic (Aliphatic Alcohols)
• Glycidylamine (Aromatic Amines and ECH)
Based on applications, the Epoxy Resin market covers:
• Paints and Coatings
• Adhesives
• Composites
• Electrical and Electronics
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast of the following regions are covered:
• Asia Pacific
• Europe
• North America
• South America
• Middle East And Africa
Analysis of the impact of the COVID-19
Players in the business are quite concerned about the COVID-19 pandemic because it is yet unclear how the virus will affect the “epoxy resin market.” The majority of those who got the virus have recovered, according to the World Health Organization (WHO), although there is a chance of additional outbreaks. Both the virus’s current prevalence and the extent of its harm are unknown. Epoxy resins are utilized in many different products, including cars, medical equipment, and building supplies, therefore the pandemic may have a substantial effect on the market. Major businesses have not yet signaled any intentions to stop selling their products or producing them as a result of COVID-19.
Key Drivers & barriers in the Epoxy Resin Market
The market for epoxy resin is facing significant difficulties as a result of heightened competition from substitute goods. Consumers find these products more enticing since they are more readily available and simpler to use. In addition, the introduction of 3D printing has allowed manufacturers to build customized parts without needing bulk orders. The demand for “Epoxy Resin” items has decreased as a result of this. Environmental factors are a challenge for the sector as well. Epoxy resins are degrading due to rising temperatures, which is generating environmental pollution.
Key Benefits for Industry Participants & Stakeholders:
• Epoxy resin is a robust, long-lasting substance that is employed to make a range of items. In the building sector, it is frequently utilized to create
items like cabinets, countertops, and flooring.
• The report examines how the top market players have expanded their product portfolios and tapped into new markets.
Following is the list of TOC for the Epoxy Resin Market:
• Report Overview
• Study Scope and Definition
• Key Market Segments
• Market Analysis by Type
• Market by Application
• Study Objectives
• Epoxy Resin Growth by Region
• Epoxy Resin market Dynamics
• Covid-19 Impact: Global Major Government Policy
• Global Epoxy Resin Market Trends and Growth Strategy
• Global Epoxy Resin Market Player’s Profiles
• Global Epoxy Resin Market Barriers
• Benefits for Industry Participants
• Disclaimer
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Why is an Epoxy Resin Market Research Report so Important?
• The study offers alternatives for market entry and expansion for both established and up-and-coming businesses in the epoxy resin sector.
• Additionally, it offers a strategic analysis of the top competitors in the epoxy resin market.
• A wide range of technological advances have been embraced by the epoxy resin market.
Amrita Pandey
Prime PR Wire
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