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Epoxy Resin Market Size Worth USD 14.7 billion by 2028

Epoxy Resin Market
In: Business, Home Improvement

According to its objectives, the report will present a comprehensive assessment of the market, and it will include thoughtful insights, facts and historical data, as well as market data and projections that have been validated by the industry, as well as a suitable set of assumptions and methodology. The research also assists in comprehending the dynamics and structure of the Epoxy Resin market by identifying and evaluating market segments, as well as forecasting the worldwide market size for the product. In addition, the research focuses on a competitive analysis of important competitors in terms of product, pricing, financial situation, product portfolio, growth plans, and geographical presence, among other things. PEST analysis, Porter’s analysis, and SWOT analysis are included in the study to help shareholders prioritize their efforts and investments in the Epoxy Resin market’s developing segments in the near future, among other things.

Epoxy resin is more corrosion, water, and chemical resistant than other types of resin. It is advantageous for the aircraft industry because epoxy resin has high adhesion, thermal stability, durability, and mechanical strength, making it a good choice for the industry. Despite this, variable raw material costs as well as high epoxy prices may pose a threat to the market’s expansion.

The demand for epoxy resin in the worldwide market is driven by its superior performance when compared to other resins, a growth in research and development efforts, and an increase in the penetration of epoxy resin in various end-user industries. As a result of their high resistance to deterioration as well as their exceptional adhesive and mechanical qualities, epoxy resins are extremely flexible and may be used in a broad variety of applications.

In terms of application, paints and coatings are the most profitable application segment in the global epoxy resin market, followed by electronic encapsulation and other applications, composites, and other applications, respectively. As a consequence of their ability to resist corrosion and rust, epoxy-based paints and coatings are in great demand across a wide range of sectors including construction, automotive, and others.

Because of its properties, such as high physical and mechanical strength, good dimensional stability, excellent dielectric properties, and other characteristics, epoxy resin is widely used as an insulation material for electronics and electrical applications that require protection in extreme and dangerous environments (such as chemical plant equipment, deep sea, and engine management).

Epoxy resins are primarily utilized in chemical and special purpose coatings because they give a thin layer coating with high chemical resistance, durability, bond strength, and adhesion, as well as the ability to cure fast. Epoxy resins are also employed in a variety of other applications.

According to the end user, the building and construction industry is predicted to be the most prominent end-use industry in the future. The growth in employment, the increase in public and private non-residential spending, and the rise in green building construction are all factors that are propelling the epoxy resin market in the building and construction end-use industry. However, despite the fact that the growth of this sector has slowed, it continues to offer opportunities for the expansion of the epoxy resin market.

In terms of geography, Asia Pacific was the most important regional market in 2017. It is becoming an increasingly appealing market as industrialisation and infrastructure development continue to expand. The Asia Pacific market is dominated by countries such as China, Japan, South Korea, India, Taiwan, Malaysia, Thailand, Indonesia, and the Philippines, with countries such as China, Japan, South Korea, India, Taiwan, Malaysia, Thailand, Indonesia, and the Philippines following close behind. The rapid growth of infrastructure, as well as the increasing needs of the automotive sector, along with the rising population, are projected to fuel the demand for epoxy resin in the Asia Pacific area in the future.

The use of epoxy resin in growing economies such as the Middle East, Africa, and South America, on the other hand, is predicted to rise at a rapid pace, owing to the increased usage of architectural glazing, greenhouse glass, and noise-reducing walls for highways and train lines in these regions.

Epoxy Resin Market generated earnings of approximately 9.1 (USD Billion) in 2021 and is expected to generate revenues of approximately 14.7 (USD Billion) by 2028, registering a compound annual growth rate (CAGR) of nearly 6.8 percent between 2022 and 2028, according to a study conducted by Zion Market Research.


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