Industry Verticals »

All Categories

Insights »

About TMR »

Epoxy Resins Market

Epoxy Resins Market (Application: Paints & Coatings, Wind Energy, Composites, Construction, Electrical & Electronics, Adhesives, and Others [Vinyl Gloves, Metal Protection, Handbags, Eyeglasses, and Plastic Tooling]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Epoxy Resins Market Outlook 2031

  • The global epoxy resins market was valued at US$ 10.5 Bn in 2020
  • It is estimated to expand at a CAGR of 6.9% from 2021 to 2031
  • The global epoxy resins market is expected to reach the value of US$ 21.87 Bn by the end of 2031

Analysts’ Viewpoint on Epoxy Resins Market Scenario

Manufacturers are enabling a balanced relationship with suppliers and ecosystem partners to tide over uncertainties during the COVID-19 crisis. The burgeoning growth of the architecture, engineering and construction (AEC) industry is translating into value-grab opportunities for stakeholders in the epoxy resins market. Innovative epoxy resin formulations have many advantages as compared to traditional cement. However, few limitations such as temperature sensitivity affect the speed of the reaction of the epoxy resin with other curing agents. Hence, companies should design polymer resins as per specific downhole conditions. Companies should increase the production of epoxy resins that are used in the paint industry due to its advantages of providing a tough protective layer on substrates and helping paints to dry-off quickly.

Sustainable Coating Resins Becoming Differentiating Factor to Rise Above Competition

Since paints, coatings, adhesives, and other epoxy resin-integrated products are virtually present in all end-use industries such as wind energy, electronics, and consumer products, manufacturers are bullish on making profits. However, the highly competitive nature of the epoxy resins market is compelling manufacturers to seek a differentiating factor to rise above their competitors. Hence, companies are entering into mergers and acquisitions (M&As) and unlocking growth opportunities in sustainable coating resins to boost their credibility credentials.

Manufacturers are concentrating on broadening their product portfolio to tap value-grab opportunities in applications, including metal protection, plastic tooling, and lightweight composites for the automotive industry. They are investing in R&D to develop highly versatile epoxy resins that are a useful group of chemicals employed in various industrial applications. Epoxy resins are being publicized in the construction of aircraft, watercraft, and automobiles.

Chemical Companies Cautiously Navigating Through Challenges During COVID-19

The novel coronavirus is changing the world as we know it. Companies in the epoxy resins market have made health and well-being of its employees and workers one of the topmost priorities. They are increasing efforts to inhibit the growth of coronavirus and protect the health of contactors, visitors, and communities. As of now, there have not been any severe supply chain disruptions in North America for top tier companies in the epoxy resins market. Contractors in the market for epoxy resins are maintaining close contacts with logistics service providers to avoid any potential interruptions in supply chains.

Bio-based Epoxy Resins V/S Conventional Resins: Which is Better?

The epoxy resins market is positioned to grow at a favorable CAGR throughout the assessment tenure. However, a major factor that can work against the class of bio-based epoxy resins is that they have less tensile strength and malleability than their fossil fuel-derived counterparts. Hence, the usage of these products might not find an increased acceptance in a world which is ready to accept sustainable materials at the cost of efficiency and productiveness. Yet, research is on for high tensile-strength in bio-based epoxy resins and this would help to counteract the current restraints.

Bio-based epoxy resins hold promising potentials to establish a circular economy.

U.S. and China Creating Income Avenues for Global Chemical Companies

China and North America are generating stable revenue streams for companies in the epoxy resins market. High-volume manufacturing in China is translating into value-grab opportunities for stakeholders throughout the value chain. An increasing number of global chemical companies are investing capacity ramp-ups in China due to the easy availability of labor and cost-efficient resources.

Besides, the market for epoxy resins in North America is slated for rapid expansion due to government support for R&D innovations. The proliferation of private investment channels is another driver contributing to market growth.

Aviation and Construction Industries Transforming Market Landscape

Manufacturers in the epoxy resins market are boosting their output capacities to capitalize on revenue opportunities in the aviation and construction industries. They are innovating in paints, coatings, and adhesives to meet the demanding needs of clients and customers in aviation and construction industries. This is evident since epoxy resins impart stability in coating and paint formulations.

Moreover, there is a growing demand for paints and coatings that withstand harsh weather and temperature conditions in aviation and construction sectors. Such demands are augmenting the growth of the epoxy resins market, as epoxy resins are known to provide enhanced mechanical strength and high resistance to extreme temperature.

Epoxy Resins Market: Overview

  • Epoxide resins, which constitute the epoxide functional group, are thermosetting polymers that are gaining popularity in the manufacturing sector due to their superior physical properties
  • The global epoxy resins market has benefited from the diversity of end-use sectors, as steady technological progression and the need for consistent development in hardware to accompany it have made epoxy resins a vital material in the current technological scenario
  • Rising demand from industries such as electrical and electronics, fiber reinforced plastics, and metal coatings is likely to propel the global epoxy resins market over the next few years

Demand for Epoxy Resins Driven by Expansion of Construction and Aviation Industries

  • The booming global construction industry is indirectly a prime driver for the global epoxy resins market, as the demand for epoxy resins from the paints & coatings industry is rising at a steady pace
  • Epoxy resins impart stability to paint and coating formulations and are, thus, likely to witness high demand in the near future. The construction industry has recovered smoothly from the 2020 crash, and it is set for resurgent growth over the next few years, particularly in developing regions such as Asia Pacific and Latin America. This is estimated to remain an important driver for the global epoxy resins market.
  • The global epoxy resins market has also benefited from the steady rise in use of epoxy resins in the aviation sector. Epoxy resins provide enhanced mechanical strength and high resistance to extreme temperature.
  • Reduction in weight enabled by the use of epoxy resins is also highly desired in the aerospace industry, as it results in a significant decline in expenditure on fuel. Consequently, demand for epoxy resins is likely to rise at a steady pace in the aviation & aerospace sector in the near future.
  • Increase in penetration of private companies in space exploration and the aviation sector is also likely to have a crucial impact on the expansion of the epoxy resins market

China to Remain Dominant Market for Epoxy Resins

  • In terms of region, the global epoxy resins market has been segmented into North America, Europe, China, Rest of Asia Pacific, Latin America, and Middle East & Africa
  • China accounts for more than 40% of the global epoxy resins market. It is likely to extend its dominance of the global market over the next few years due to rise in the number of companies shifting their manufacturing base in the country. Robust performance of the construction industry in China, which has benefited from the rising disposable income of urban consumers in China, is likely to remain a key driver for the global epoxy resins market. 
  • Rapid development of the aerospace sector in North America is likely to contribute to the notable market share of North America in the next few years. Robust government support for research in aviation has been a key factor of the market in North America, while the widening private investment channels are likely to further boost the epoxy resins market in the region.

Epoxy Resins Market: Competition Landscape

  • Leading companies in the global epoxy resins market include
    • Kukdo Chemicals Ltd.
    • DuPont
    • Huntsman Corporation
    • NAMA Chemicals
    • BASF SE
    • The Dow Chemical Company
    • 3M Company
  • The global epoxy resin market is mainly dominated by leading players and the trend is likely to remain in the upcoming years

Epoxy Resins Market: Key Developments

  • In November 2021, Hexoin Inc. announced that it had entered into a definitive agreement with Westlake Chemical Corporation. Hexion Inc. to sell its Hexion’s global epoxy business for approximately $1.2 Bn to Westlake Chemical Corporation company. This transaction is anticipated to be completed in the first half of 2022 following customary closing conditions.
  • On April 1, 2021, Covestro successfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The acquisition is expected to help Covestro expand its portfolio of sustainable coating resins.

Epoxy Resins Market Snapshot

Attribute

Detail

Market Size Value in 2020 (Base Year)

US$ 10.5 Bn

Market Forecast Value in 2031

US$ 21.87 Bn

Growth Rate (CAGR)

6.9%

Forecast Period

2021-2031

Quantitative Units

Value (US$ Bn) and Volume (Kilo Tons )

Competition Landscape

Company Profiles section includes overview, product portfolio, key subsidiaries or distributors, strategy & recent developments, and key financials.

Format

Electronic (PDF) + Excel

Market Segmentation
  • By Application
    • Paints & Coatings
    • Wind Energy
    • Composites
    • Construction
    • Electrical & Electronics
    • Adhesives
    • Others (Vinyl Gloves, Metal Protection, Handbags, Eyeglasses, and Plastic Tooling)

 

Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Countries Covered
  • U.S.
  • Canada
  • Germany
  • France
  • Italy
  • Spain
  • U.K.
  • GCC Countries
  • South Africa
  • China
  • Japan
  • India
  • Brazil
  • Mexico

Companies Profiled
  • NAMA Chemicals
  • DuPont
  • 3M Company
  • Kukdo Chemical Ltd.
  • The Dow Chemical Company
  • BASF SE
  • Hunstman Corporation.

Customization Scope

Available upon Request

Pricing

Available upon Request

Epoxy Resins Market – Segmentation

TMR’s research study includes the detailed analysis of companies dealing in global epoxy resins market in terms of application and region. Various levels of market segmentation for which estimate and forecast have been provided are as follows:

Application
  • Paints & Coatings
  • Wind Energy
  • Composites
  • Construction
  • Electrical & Electronics
  • Adhesives
  • Others (Vinyl Gloves, Metal Protection, Handbags, Eyeglasses, and Plastic Tooling)
Region
  • Europe
  • Asia Pacific
  • Latin America
  • North America
  • Middle East & Africa

Frequently Asked Questions

What is the Epoxy Resins Market size?

Epoxy Resins Market is expected to reach US$ 21.87 Bn by the end of 2031

What is the CAGR for Epoxy Resins Market?

Epoxy Resins Market is estimated to rise at a CAGR of 6.9% during forecast period

What are the key factors driving the growth of Epoxy Resins Market?

An increased demand from the aerospace industry, due to the reduced overall weight of the aircraft due to the use of epoxy resins, is one of the major drivers for the market.

Who are the key players in the Epoxy Resins Market?

Key companies profiled in the report include NAMA Chemicals, DuPont, 3M Company, Kukdo Chemical Ltd., The Dow Chemical Company, BASF SE, and Hunstman Corporation.

What are the application segments in the Epoxy Resins Market?

Paints & Coatings, Wind Energy, Composites, Construction, Electrical & Electronics, Adhesives are the application segments in the Epoxy Resins Market

    1. Preface

        1.1. Report Description

        1.2. Market Segmentation

            1.2.1. Global Epoxy Resins Market Segmentation, by Application and Region

        1.3. Research Scope

            1.3.1. Assumptions

        1.4. Research Methodology

    2. Executive Summary

        2.1. Global Epoxy Resins Market, 2020 – 2031 (Kilo Tons) (US$ Bn)

    3. Epoxy Resins – Industry Analysis

        3.1. Introduction

        3.2. Value Chain Analysis

        3.3. Market Drivers

            3.3.1. Global Demand for Paints & Coatings Augments the Growth of the Epoxy Resins Market

                3.3.1.1. Global Paints & Coatings Market Revenue, 2020 - 2031 (US$ Bn)

            3.3.2. Growing Demand for Epoxy Resin-Based Composites in Aerospace Industry and Wind Energy

                3.3.2.1. Raw Materials Used In Aircraft Manufacturing

                3.3.2.2. Global General Aviation Composite Structures Volume, 2020 - 2031 (Metric Tons)

                3.3.2.3. Global Wind Turbine Market Revenue, 2020 - 2031 (US$ Bn)

        3.4. Restraints

            3.4.1. High Demand of Raw Materials from Other Applications and Fluctuations In Prices of Raw Materials Inhibit Epoxy Resin Market Growth

                3.4.1.1. Global Bisphenol a Consumption, by Application, 2020

                3.4.1.2. Bisphenol A Price Trends, 2020 – 2031 (US$/Ton)

                3.4.1.3. Epichlorohydrin Price Trends, 2020 - 2031 (US$/Ton)

        3.5. Opportunities

            3.5.1. Shift Towards Bio-Based Epoxy Resins in the Upcoming Years

        3.6. Porter’s Five Forces Analysis

            3.6.1. Bargaining Power of Suppliers

            3.6.2. Bargaining Power of Buyers

            3.6.3. Threat of New Entrants

            3.6.4. Threat from Substitutes

            3.6.5. Degree of Competition

        3.7. Company Market Share Analysis

            3.7.1. Epoxy Resins Market: Company Market Share Analysis, 2020

        3.8. Market Attractiveness

            3.8.1. Epoxy Resins Market: Market Attractiveness Analysis, by Application

    4. Epoxy Resins Market - Application Analysis

        4.1. Global Epoxy Resins Market: Application Overview

            4.1.1. Global Epoxy Resins Market Revenue Share, by Application, 2020 & 2031

        4.2. Paints & Coatings

            4.2.1. Global Epoxy Resins Market for Paints & Coatings Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

        4.3. Wind Energy

            4.3.1. Global Epoxy Resins Market for Wind Energy Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

        4.4. Composites

            4.4.1. Global Epoxy Resins Market for Composites Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

        4.5. Construction

            4.5.1. Global Epoxy Resins Market for Construction Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

        4.6. Electrical & Electronics

            4.6.1. Global Epoxy Resins Market for Electrical & Electronics Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

        4.7. Adhesives

            4.7.1. Global Epoxy Resins Market for Adhesives Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

        4.8. Others (Vinyl Gloves, Metal Protection, Handbags, Eye Glasses, Plastic Tooling)

            4.8.1. Global Epoxy Resins Market for Other Applications, 2020 - 2031, (Kilo Tons) (US$ Bn)

    5. Epoxy Resins Market - Regional Analysis

        5.1. Global Epoxy Resins Market: Regional Overview

            5.1.1. Global Epoxy Resins Market Share, by Region, 2020 & 2031

        5.2. North America

            5.2.1. North America Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

            5.2.2. North America Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

        5.3. Europe

            5.3.1. Europe Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

            5.3.2. Europe Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

        5.4. Asia Pacific

            5.4.1. Asia Pacific Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

            5.4.2. Asia Pacific Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

            5.4.3. China

                5.4.3.1. China Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

                5.4.3.2. China Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

            5.4.4. Rest of Asia Pacific Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

            5.4.5. Rest of Asia Pacific Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

        5.5. Latin America

            5.5.1. Latin America Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

            5.5.2. Latin America Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

        5.6. Middle East & Africa

            5.6.1. Middle East & Africa Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

            5.6.2. Middle East & Africa Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

    6. Company Profiles

        6.1. BASF SE

            6.1.1. Company Overview

            6.1.2. Product Portfolio

            6.1.3. Financial Overview

            6.1.4. Business Strategies

            6.1.5. SWOT Analysis

            6.1.6. Recent Developments

        6.2. Huntsman Corporation

            6.2.1. Company Overview

            6.2.2. Product Portfolio

            6.2.3. Financial Overview

            6.2.4. Business Strategy

            6.2.5. SWOT Analysis

            6.2.6. Recent Developments

        6.3. The Dow Chemical Company

            6.3.1. Company Overview

            6.3.2. Product Portfolio

            6.3.3. Financial Overview

            6.3.4. Business Strategies

            6.3.5. SWOT Analysis

            6.3.6. Recent Developments

        6.4. 3M Company

            6.4.1. Company Overview

            6.4.2. Product Portfolio

            6.4.3. Financial Overview

            6.4.4. Business Strategy

            6.4.5. SWOT Analysis

        6.5. Dupont

            6.5.1. Company Overview

            6.5.2. Financial Overview

            6.5.3. Business Strategy

            6.5.4. SWOT Analysis

        6.6. Aditya Birla Chemicals Ltd (Thailand)

            6.6.1. Company Overview

            6.6.2. Business Strategy

            6.6.3. SWOT Analysis

            6.6.4. Recent Developments

        6.7. Momentive Specialty Chemicals Inc.

            6.7.1. Company Overview

            6.7.2. Financial Overview

            6.7.3. Business Strategy

            6.7.4. SWOT Analysis

            6.7.5. Recent Developments

        6.8. Nan Ya Plastics Corporation

            6.8.1. Company Overview

            6.8.2. Financial Overview

            6.8.3. Business Strategy

            6.8.4. SWOT Analysis

        6.9. Kukdo Chemical Ltd.

            6.9.1. Company Overview

            6.9.2. Business Strategy

            6.9.3. SWOT Analysis

        6.10. NAMA Chemicals

            6.10.1. Company Overview

            6.10.2. Financial Overview

            6.10.3. Business Strategy

            6.10.4. SWOT Analysis

            6.10.5. Recent Developments

    List of Tables

    Table 1: Global Epoxy Resins Market Snapshot

    Table 2: Drivers for The Epoxy Resins Market: Impact Analysis

    Table 3: Restraints for Epoxy Resin Market: Impact Analysis

    Table 4: North America Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

    Table 5: North America Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

    Table 6: Europe Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

    Table 7: Europe Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

    Table 8: Asia Pacific Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

    Table 9: Asia Pacific Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

    Table 10: China Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

    Table 11: China Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

    Table 12: Rest of Asia Pacific Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

    Table 13: Rest of Asia Pacific Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

    Table 14: Latin America Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

    Table 15: Latin America Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

    Table 16: Middle East & Africa Epoxy Resins Market Volume, by Application, 2020 - 2031 (Kilo Tons)

    Table 17: Middle East & Africa Epoxy Resins Market Revenue, by Application, 2020 - 2031 (US$ Bn)

    List of Figures

    Figure 1: Global Epoxy Resins Market Segmentation, by Application and by Region

    Figure 2: Global Epoxy Resins Market, 2020 – 2031 (Kilo Tons) (US$ Bn)

    Figure 3: Epoxy Resins Market: Value Chain Analysis

    Figure 4: Global Paints & Coatings Market Revenue, 2020 - 2031 (US$ Bn)

    Figure 5: Raw Materials Used in Aircraft Manufacture

    Figure 6: Global General Aviation Composite Structures Volume, 2012 - 2031 (Metric Tons)

    Figure 7: Global Wind Turbine Market Revenue, 2020 -  2031 (US$ Bn)

    Figure 8: Global Bisphenol a Consumption by Application, 2020

    Figure 9: Bisphenol A Price Trends, (2020 – 2031) (US$/Ton)

    Figure 10: Epichlorohydrin Price Trends, (2020– 2031) (US$/Ton)

    Figure 11: Porter’s Five Forces Analysis

    Figure 12: Epoxy Resins Market: Company Market Share Analysis, 2020

    Figure 13: Epoxy Resins Market: Market Attractiveness Analysis, by Application

    Figure 14: Global Epoxy Resins Market Share, by Application, 2020 & 2031

    Figure 15: Global Epoxy Resins Market for Paints & Coatings Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

    Figure 16: Global Epoxy Resins Market for Wind Energy Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

    Figure 17: Global Epoxy Resins Market for Composites Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

    Figure 18: Global Epoxy Resins Market for Construction Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

    Figure 19: Global Epoxy Resins Market for Electrical & Electronics Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

    Figure 20: Global Epoxy Resins Market for Adhesives Application, 2020 - 2031, (Kilo Tons) (US$ Bn)

    Figure 21: Global Epoxy Resins Market for Other Applications, 2020 - 2031, (Kilo Tons) (US$ Bn)

    Figure 22: Global Epoxy Resins Market Share, by Region, 2020 & 2031

Copyright © Transparency Market Research, Inc. All Rights reserved

Epoxy Resins Market

Schedule a Call