Epoxy resins are synthetic resins that exhibit excellent adhesion, chemical and heat resistance along with low shrinkage properties. They find extensive application in paints & coatings, adhesives, composites and electrical encapsulants due to their unique properties. Epoxy resins are commonly utilized in protective, decorative and structural paints & coatings for their durability and corrosion resistance. The global Epoxy Resins Paints Market is estimated to be valued at US$ 12.84 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The strong demand from the construction industry has been a key growth driver for the epoxy resins paints market. Epoxy paints are widely used in flooring applications such as industrial, decorative as well as garage floors owing to their excellent adhesion, corrosion and chemical resistance. They protect concrete from moisture infiltration and corrosion caused by de-icing salts. The growing construction activities particularly in the developing nations of Asia Pacific and Latin America are expected to augment the consumption of epoxy resins paints in flooring coatings over the forecast period. Rapid urbanization and infrastructure development will continue driving the demand for epoxy resins from the construction industry.
Segment Analysis The epoxy resins paints market is dominated by the protective coatings sub-segment which holds around 65% of the overall market share. Epoxy-based protective coatings exhibit excellent adhesion, chemical and temperature resistance which makes them ideal for use in industrial applications involving steel structures, pipelines, buildings etc. These coatings protect assets from corrosion and extend their lifespan significantly.
Key Takeaways
The Global Epoxy Resins Paints Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: Asia Pacific currently dominates the global market and is expected to continue its dominance owing to huge industrial activities in China, India, Japan and other Southeast Asian countries. China alone accounts for over 35% of the global demand for epoxy resins paints. North America and Europe are other major markets driven by infrastructure development and aviation industries.
Key players: Key players operating in the epoxy resins paints market are 3M,,Aditya Birla Management Corp. Pvt. Ltd.,,Atul Ltd.,,BASF SE,,Solvay,,Huntsman International LLC,,Kukdo Chemical Co., Ltd.,,Olin Corporation,,Sika AG,,Nan Ya Plastics Corp.,,Jiangsu Sanmu Group Co., Ltd.,,Jubail Chemical Industries LLC,,China Petrochemical & Chemical Corporation (SINOPEC),,Hexion,,Kolon Industries, Inc.,,Techstorm,,Nagase & Co., Ltd.
3M is a global leader in developing advanced epoxy resins coatings for industrial, automotive and aerospace applications. BASF SE offers a wide portfolio of high performance epoxy coatings under the brand MasterPrene.
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https://www.newsstatix.com/epoxy-resins-paints-market-size-share-growth-outlook-2023/
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