According to the publisher, the global epoxy resins market is expected to display a positive trend over the forecasting years 2021-2028, while exhibiting a CAGR of 5.01%.
There has been a growing demand for epoxy resins in the aerospace sector. Also, the demand for paints & coatings has grown significantly in the last few decades. In addition, the advancement in epoxy resin technology has generated enhanced demand for this material. All these factors are directing the market towards growth in the years to come. However, the fluctuations in the prices of raw materials act as a major hindrance in the path of growth. Moreover, health hazards associated with the use of BPA-based products and the availability of alternative products are further hampering the epoxy resins market growth.
The global market for epoxy resins spans across the regions of North America, Latin America, the Asia-Pacific, the Middle East and Africa, and Europe.
The Asia-Pacific is the largest region in the global market, and is expected to continue its reign over the forthcoming years. In the last couple of years, it has witnessed significant expansion in electrical and electronics capacity. A majority of the renowned names in the industry are actively participating in expansion plans. The rapid infrastructural development and the availability of skilled labor at low rates are the drivers facilitating the capacity expansions by several big epoxy resins manufacturers in APAC. All these factors are driving the growth of the studied market in the Asia-Pacific.
- Strong Demand for Epoxy Resins in the Aerospace Industry
- Demand for Paints and Coatings
- R&D in the Epoxy Resin Technology
- Fluctuating Raw Material Prices
- Health Hazards Associated With Bpa-Based Products
- Emergence of Alternatives
- Growth in Adoption of Modified Resins
- Growing Wind Energy Market
- Use of Natural Raw Materials for Epoxy Resins Production
- 3M Company
- Aditya Birla Chemicals Ltd
- Chang Chun Plastics Co Ltd
- Cytec Industries Incorporation (Solvay)
- Huntsman Corporation
- Jubail Chemical Industries Company Limited
- Kukdo Chemical Co Ltd
- Momentive Performance Materials Holdings LLC
- Sinopec Baling Co
- Dow Chemicals
- Nan Ya Plastics
- Clariant AG
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