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Epoxy Resins Market Size (2024 - 2029)

The epoxy resin market is experiencing growth, driven by increasing demand from the aerospace, automotive, and construction industries, as well as rising consumption of electrical and electronic devices. Despite challenges posed by the hazardous nature of epoxy resins, which may limit growth, opportunities are emerging in the construction sectors of developing regions such as Asia-Pacific, the Middle East, and Africa. The Asia-Pacific region leads in market dominance, with significant demand originating from countries like China and India.

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Market Size of Epoxy Resins Industry

Epoxy Resins Market Summary
Study Period 2019 - 2029
Market Volume (2024) 4.37 Million tons
Market Volume (2029) 5.91 Million tons
CAGR (2024 - 2029) 6.22 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Epoxy Resins Market Major Players

*Disclaimer: Major Players sorted in no particular order

Epoxy Resins Market Analysis

The Epoxy Resins Market size is estimated at 4.37 Million tons in 2024, and is expected to reach 5.91 Million tons by 2029, growing at a CAGR of 6.22% during the forecast period (2024-2029).

In 2020, the COVID-19 pandemic and stringent regulations across the globe took a toll on the epoxy resin market. Industries like paints and coatings, adhesives, and electrical and electronics faced challenges, grappling with supply chain disruptions, work stoppages, and labor shortages. However, in 2021, the market rebounded, driven by a surge in demand from the paints and coatings, adhesives and sealants, and electrical and electronics sectors.

  • Over the short term, the increasing demand from the paints and coatings sector and rising demand from electrical and electronics are the major factors driving the demand for the market studied.
  • However, stringent regulations regarding the use of epoxy resin are expected to hinder the market's growth.
  • Nevertheless, the development of bio-based epoxy resins and technological advancements are anticipated to create new opportunities for the market studied.
  • Asia-Pacific is expected to dominate the market across the world, with the majority of demand coming from China and India.

Epoxy Resins Industry Segmentation

Epoxy resins, created by reacting epoxide groups with a hardener, yield robust and durable polymer chains. These resins find widespread application in industrial lubricants, adhesives, coatings, and composites owing to their superior mechanical properties, chemical resistance, and thermal stability.

The epoxy resin market is segmented by raw material, application, and geography. By raw material, the market is segmented into DGBEA (Bisphenol A and ECH), DGBEF (Bisphenol F and ECH), novolac (formaldehyde and phenols), aliphatic (aliphatic alcohols), glycidyl amine (aromatic amines and ECH), and other raw materials. By application, the market is segmented into paints and coatings, adhesives and sealants, composites, electrical and electronics, marine, wind turbines, and other applications. The report also covers the market sizes and forecasts for the epoxy resin market in 27 countries across major regions. For each segment, the market sizing and forecasts are made on the basis of volume (tons).

By Raw Material
DGBEA (Bisphenol A and ECH)
DGBEF (Bisphenol F and ECH)
Novolac (Formaldehyde and Phenols)
Aliphatic (Aliphatic Alcohols)
Glycidylamine (Aromatic Amines and ECH)
Other Raw Materials
By Application
Paints and Coatings
Adhesives and Sealants
Composites
Electrical and Electronics
Marine
Wind Turbines
Other Applications
By Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East & Africa
Saudi Arabia
Qatar
United Arab Emirates
Nigeria
Egypt
South Africa
Rest of Middle East & Africa
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Epoxy Resins Market Size Summary

The epoxy resin market is poised for growth, driven by increasing demand from various sectors such as aerospace, automotive, and construction. The market experienced a downturn due to the COVID-19 pandemic, which disrupted supply chains and caused labor shortages, but has since recovered and is on a growth trajectory. The Asia-Pacific region, particularly China and India, dominates the market, benefiting from the burgeoning construction and electronics industries. Epoxy resins are valued for their properties, including strength, durability, and chemical resistance, making them ideal for coatings in metal and floor applications. However, the market faces challenges due to the hazardous nature of epoxy resins, which could limit growth.

The construction industry, especially in emerging markets within Asia-Pacific, the Middle East, and Africa, presents significant opportunities for the epoxy resin market. The demand for epoxy resins is further bolstered by the growth in the automotive and electronics sectors, with Asia-Pacific being a major hub for electronics production. The market is characterized by fragmentation, with key players like Hexion, Olin Corporation, and Huntsman International LLC leading the charge. Recent strategic moves, such as capacity expansions and acquisitions, indicate a competitive landscape aimed at enhancing market share and expanding global reach. Despite challenges in regions like Europe and North America, where economic factors have impacted the paints and coatings industry, the overall outlook for the epoxy resin market remains positive.

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Epoxy Resins Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from Paints and Coatings Sector

      2. 1.1.2 Rising Demand from Electrical and Electronics

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Stringent Regulations Regarding the Use of Epoxy Resin

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 By Raw Material

      1. 2.1.1 DGBEA (Bisphenol A and ECH)

      2. 2.1.2 DGBEF (Bisphenol F and ECH)

      3. 2.1.3 Novolac (Formaldehyde and Phenols)

      4. 2.1.4 Aliphatic (Aliphatic Alcohols)

      5. 2.1.5 Glycidylamine (Aromatic Amines and ECH)

      6. 2.1.6 Other Raw Materials

    2. 2.2 By Application

      1. 2.2.1 Paints and Coatings

      2. 2.2.2 Adhesives and Sealants

      3. 2.2.3 Composites

      4. 2.2.4 Electrical and Electronics

      5. 2.2.5 Marine

      6. 2.2.6 Wind Turbines

      7. 2.2.7 Other Applications

    3. 2.3 By Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Malaysia

        6. 2.3.1.6 Thailand

        7. 2.3.1.7 Indonesia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Spain

        6. 2.3.3.6 NORDIC Countries

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 Russia

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 Qatar

        3. 2.3.5.3 United Arab Emirates

        4. 2.3.5.4 Nigeria

        5. 2.3.5.5 Egypt

        6. 2.3.5.6 South Africa

        7. 2.3.5.7 Rest of Middle East & Africa

Epoxy Resins Market Size FAQs

The Epoxy Resins Market size is expected to reach 4.37 million tons in 2024 and grow at a CAGR of 6.22% to reach 5.91 million tons by 2029.

In 2024, the Epoxy Resins Market size is expected to reach 4.37 million tons.

Epoxy Resin Market Report Snapshots

Epoxy Resin Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)