Market Highlight:
The Global Epoxy Resin Market is expected to grow at CAGR of 5.24% to reach USD 10,620.5 million by the end of 2023. Epoxy Resin, also known as polyepoxides, refers to a kind of reactive prepolymer and polymer containing epoxide groups. These resins react either with themselves in the presence of catalysts, or with many co-reactants like amines, phenols, thiols, etc.
Epoxy Resin has numerous industrial applications in a wide range of end-use industries. It exhibits superior mechanical properties and more thermal and chemical resistance than other types of resin.
The factors positively influencing the market are the increasing epoxy based composites demand from automotive & transportation industry and steady growth of construction industry.
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Key Findings:
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.
Intended Audience:
• Manufacturers and Distributors of Epoxy Resins.
• Manufacturers and Distributors of Epoxy Resins.
• Suppliers and Traders.
• Government, Associations and Industrial Bodies.
• Investors and Trade Experts.
• Consulting in Chemical Experts.
Regional Analysis:
Asia Pacific is followed by North America, which accounted for the second largest market share, as of 2016. U.S. held the major share of the regional market and is expected to retain its dominance during the forecast period owing to greater penetration of end user industries in the country.
The Asia Pacific accounted for the largest share of the market in 2016 and is estimated to grow at considerable CAGR throughout the review period. The primary factor responsible for the dominance of Asia Pacific region is the increasing demand for the product in steadily expanding construction sector, along with manufacture of consumer goods and expanding production capacity in this region.
Segmentation:
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.
Basis on 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 (RoW).
Key Competitors:
The key players available in the Global Epoxy Resin Market are, Ciech S.A (Poland), Huntsman International LLC (U.S.), Aditya Birla Chemicals (India), Kolon Industries, Inc. (South Korea), BASF SE (Germany), Olin Corporation (Olin) (U.S.), and Spolchemie (Czech Republic).
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