Global Epoxy Resin Market size was valued at USD 8.9 Billion in 2024 and is expected to reach USD 17.6 Billion by 2033, at a CAGR of 6.9% during the forecast period 2024 – 2033.
Epoxy Resin Market: Overview
Epoxy resin is a thermosetting polymer that, when coupled with a hardener, undergoes a chemical reaction known as curing, resulting in a rigid and durable substance. It is widely utilized throughout sectors because of its great adhesive characteristics, high strength, chemical resistance, and adaptability.
An important worldwide trend in the epoxy resin market is the growing desire for eco-friendly and sustainable formulas. With rising environmental concerns and regulatory demands, there is a trend towards the development and use of epoxy resins with fewer VOC (volatile organic compound) emissions, decreased toxicity, and improved biodegradability.
This movement is fueled by a variety of causes, including customer preferences for ecologically friendly products, company sustainability programmes, and government policies encouraging green chemical practices. Furthermore, scientific breakthroughs have resulted in the development of bio-based and renewable epoxy resin substitutes generated from plant oils and biomass.
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Businesses are investing in R&D to create greener epoxy resin compositions that preserve performance and cost-effectiveness. As sustainability gains importance throughout businesses, the demand for eco-friendly epoxy resins is expected to continue growing, shaping the future of the global epoxy resin market.
By form, the liquid segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The demand for liquid epoxy resin is expanding because of its adaptability, high-performance qualities, and uses in sectors such as construction, automobile electronics, coatings, and adhesives.
By type, the DGBEA segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The trend in DGBEA epoxy resin includes a growing demand for powerful epoxy formulations in industries such as aerospace, automotive, electronics, and construction due to their excellent mechanical properties and versatility.
By application, the paints & coatings segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. In the paint & coatings sector, there is a rising emphasis on eco-friendly formulas, sustainable raw material procurement, and new technologies to improve durability and performance.
CMI has comprehensively analyzed the Global Epoxy Resin market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Epoxy Resin industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Epoxy Resin Market:
- Huntsman Corporation
- Hexion Inc.
- Dow Inc.
- BASF SE
- 3M Company
- Olin Corporation
- Aditya Birla Chemicals
- Kukdo Chemical Co. Ltd.
- Sika AG
- Momentive Performance Materials Inc.
- Nan Ya Plastics Corporation
- Atul Ltd.
- Evonik Industries AG
- Ashland Global Holdings Inc.
- Mitsui Chemicals Inc.
- DIC Corporation
- Sinopec Corporation
- Araldite
- Cardolite Corporation
- West System Epoxy
- Others
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