According to a new market research report the “Epoxy Resin Market by Physical Form (Liquid, Solid, and Solution), Application (Paints & Coatings, Adhesives & Sealants, Composites), End-Use Industry (Building & Construction, Aerospace, Wind Power, Marine, Consumer Goods) – Global Forecast to 2021″, The global epoxy resin market size is projected to reach USD 8.77 Billion by 2021 from the estimated USD 6.31 Billion in 2015, registering a CAGR of 5.77% between 2016 and 2021.
This report also provides a comprehensive analysis of the companies listed below:
- Olin Corporation (U.S.), Nan Ya Plastics Corporation (Taiwan), Huntsman Corporation (U.S.), Hexion Inc. (U.S.), and Kukdo Chemical Co. Ltd. (South Korea)
This study aims to estimate the market size for epoxy resin for 2016 and forecast it by 2021. It provides a detailed qualitative and quantitative analysis of the market. Various secondary sources, such as directories, industry journals, and databases, have been used to identify and collect information useful for an extensive commercial study of the epoxy resin market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information and assess prospects of the market.
Hexion Inc. has a very high potential for growth in the future. The company operates through more than 60 production facilities globally and serves customers in more than 100 countries. The company also focuses on increasing its operations in other developing countries other than China and India.
Hexion introduced two new resin systems at the JEC Europe 2015 Composites Show and Conferences March 10-12 in 2015. These were designed to make mass production of large structural components.
Paints & coatings is the biggest application segment for the epoxy resin market
The paints & coatings segment is the largest application and is projected to remain the same in the overall epoxy resin market, in terms of volume, during the forecast period. Economic expansion in the developing countries of Asia-Pacific will increase the demand of epoxy resin for paints & coatings application in building & construction and automotive end-use industries.
Building & construction sector expected to be the dominant end-use industry for epoxy resin
Increase in employment, increase in public & private non-residential spending, and rise of green building construction are driving the epoxy resin market in the building & construction end-use industry. Though the growth of this sector has slowed down, it would still provide opportunities for the growth of the epoxy resin market.
Asia-Pacific estimated to be the largest market during forecast period
Asia-Pacific is the largest market for epoxy resin, both in terms of volume and value, followed by North America and Western Europe. China, the U.S., and Germany are the largest producers of epoxy resins the respective regions. Building & construction is the largest consumer of epoxy resins materials in Asia-Pacific. China and Japan have the largest shares of the Asia-Pacific epoxy resin market. The market in India is witnessing the highest growth rate
