Modified Epoxy Resins Market Segmentation, Analysis By Production,...

Modified Epoxy Resins Market Segmentation, Analysis By Production, Consumption, Revenue And Growth Rate

Posted 2023-05-03 08:49:34

Market Analysis

The global modified epoxy resins market is likely to grow at a notable CAGR between 2023- 2030, as per the recent report by Market Research Future (MRFR). Modified epoxy resins are reactive polymers which contain epoxide groups. They are cross-linked or reacted with different co-reactants (alcohols, thiols, phenols, acids, and polyfunctional amines) or by themselves.

Various factors are adding to the modified epoxy resins industry growth. According to the new MRFR report, such factors include the booming auto and construction industries, increased research and development, technological advances in modified resins, increased installation of wind energy capacity, and favorable properties like heat, mechanical, and electrical resistance, adhesion, moisture resistivity, mechanical strength, and high thermal stability for which it is has wide applications in industrial applications, insulators, jewelry, and laminates.

On the contrary, volatility in prices of raw materials, availability of alternatives such as phenolic resins and polyurethane, stringent mandates related to the control of VOC emissions such as the National Emission Standards for Hazardous Air Pollutants and Environmental Protection Agency, and strict mandates to curb air pollution by the California Air Resources Board are factors that may limit the modified epoxy resins market growth over the forecast period.

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Market Segmentation

The MRFR report offers an inclusive segmental analysis of the global modified epoxy resins market report by end user, application, & product type.

By product type, the modified epoxy resins market is segmented into solvent-based modified epoxy resin and water-based modified epoxy resin.

By application, the modified epoxy resins market is segmented into laminates, composites, adhesives and sealants, paints and coatings, and others. Of these, the paints and coatings sector is predicted to dominate the market over the forecast period. Factors adding to the growth of the segment include the burgeoning demand for infrastructure like building rises, elevating population, and its increasing consumption in paints and coatings owing to its alluring properties such as superior electrical and mechanical properties, low viscosity, and chemical resistance.

By end user industry, the modified epoxy resins market is segmented into marine, aerospace, automotive, building and construction, and others.

Regional Analysis

Based on the region, the global modified epoxy resins market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC will spearhead the market over the forecast period. The growing construction industry in China & India, rising personal disposable income especially in the developing nations, growing population, demand from the auto industry from Japan, India, and China, and the booming electronics industry in China and Japan for the increasing use of modified epoxy resins in electrical castings, electrical laminates, and electrical coatings for improved performance is adding to the growth of the market in the region.

The global modified epoxy resins market in North America is predicted to have notable growth over the forecast period. High adoption rate and developed end use industries like aerospace and electronics, investments in the infrastructure renovation and construction in Canada and the US by the newly elected government, and the presence of top three companies such as Fiat Chrysler, Ford, and General Motors are adding to the growth of the market in the region.

The global modified epoxy resins market in Europe is predicted to have lucrative growth over the forecast period. Booming aerospace and automobile industry, growing need for composites and coatings from the automobiles and aircraft manufacturers, and burgeoning demand for paints & coatings are adding to the growth of the market in the region.

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Key Players

Leading players profiled in the modified epoxy resins market report include BASF SE (Germany), 3M (US), E. I. du Pont de Nemours & Company (U.S), Aditya Birla Chemicals Ltd ( India), Kukdo Chemical co limited (Japan), Hexion (U.S), Jiangsu Sanmu Group Co, Ltd (China), Olin (U.S), and Nan Ya Plastic Corporation (Taiwan).

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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