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Epoxy Resin Market Forecast Report till 2023 | Key Vendors Analysis, and Industry Growth Insight
Epoxy Resin Market Information by Type (Glycidyl Epoxy and Non-Glycidyl Epoxy), Technology (Liquid Epoxy, Waterborne Epoxy, Solvent Cut Epoxy), Application (Building & Construction, Automotive & Transportation, Electrical & Electronics, Adhesives & Sealants, Marine), Region and Forecast till 2023
The Global Epoxy Resin Market is estimated to grow at CAGR of 5.24% to reach USD 10,620.5 million by the end of 2023. The factors positively influencing the market are the increasing epoxy based composites demand from automotive & transportation industry and steady growth of construction industry.
Epoxy Resins, or Polyepoxides have proven to be far more efficient than other resin types. Displaying a range of mechanical properties Epoxy offers a good resistance to water & Chemicals alike, high adhesive strength and a high electrical insulation. Additionally, it can absorb both mechanical and thermal stresses therefore offering stiffness, toughness and heat resistant properties along with the environmental degradation resistance.
In, January 5, 2018- Nordson ASYMTEK (USA) a global leader in dispensing, jetting, and coating equipment and technologies, announced acquisition of Infiniti Dosing o.m.s (Germany) a leading manufacturer of highly viscous and abrasive fluids including epoxy resins, potting compounds etc.
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Global Epoxy Resin Market is projected to reach USD 10,620.5 million by 2023 with 5.24% CAGR during review period of 2017-2023. Asia Pacific accounted for the largest share due to the significant growth of automotive and construction industry. Liquid epoxy segment is estimated to dominate the global market owing to its usage in a wide range of applications. Automotive & transportation industry is growing at the highest CAGR, among other applications of the epoxy resins. Among the technology segment, waterborne epoxy is projected to emerge as the fastest growing segment.
Top Global Vendors:
The prominent vendors in the Global Epoxy Resin Market are, Aditya Birla Chemicals (India), Kolon Industries, Inc. (South Korea), BASF SE (Germany), Olin Corporation (Olin) (U.S.), Ciech S.A (Poland), Huntsman International LLC (U.S.), and Spolchemie (Czech Republic), among others.
For the convenience of the report and enhanced understanding the analysis is segmented in to 4 key dynamics:
By Types: Glycidyl Epoxy and Non-Glycidyl Epoxy.
By Technology: Liquid Epoxy, Waterborne Epoxy, Solvent Cut Epoxy, and other.
By Applications: Building & Construction, Automotive & Transportation, Electrical & Electronics, Adhesives & Sealants, Marine, and other.
By Regions: North America, Europe, APAC and Rest of the World.
Geographically, the Global Epoxy Resin Market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Asia Pacific market is followed by North America, which is accounted for the second largest number of shares in the Global Epoxy Resin Market, as of 2016.
Asia Pacific was the largest region in the Global Epoxy Resin Market as of 2016, in terms of the market share. The region is likely to retain its dominance throughout the forecast period owing to rapidly growing construction activities.
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