The global market for Epoxy resins is poised to grow from $7980 million to $12880 million for 2015-2

Epoxy Resins Market Global

Industry Analysis & Forecast 2016-2022 www.inkwoodresearch.com

Report Description • The global epoxy resins market is poised to grow at a CAGR of 7% during 2016-2022.

Various reasons for growth of the epoxy resin market are the growth of construction industry, higher demand from paints and coatings and aerospace industry, growth of wind energy market, increase in consumption in electrical and electronics sector and an improvement in economies all over the world.

• Epoxy resins have epoxide functional group and are thermosetting polymers. These undergo the curing process by heat, ultraviolet light or curing agents.

• Its properties are its versatility, high resistance to chemicals, toughness, good adhesion, strong durability at both low and high temperatures, high electrical resistance and ability to be poured on casts without forming bubbles.

• It can be used for laminates, insulators, jewelry and industrial applications. It is used extensively in paints and coatings industry as it dries quickly and provides protective, tough coating with excellent hardness.

Market Insights • Market drivers for epoxy resin are increase in demand from end use industries like construction and automotive, growth in renewable energy like wind has increased demand for epoxy resins, improving economies has led to higher construction activity and increasing disposable incomes.

• Paint and coatings industry has the largest market share of the epoxy resin market and it is expected to grow steadily over the next few years.

• Industrial and automobile application are expected to grow in the coming years as these resins have better heat resistance as compared to alkyd-based or latex-based paints.

Higher demand for powder coatings, electrical and electronic laminates, and waterborne coatings, flooring and paving applications will boost market growth.

• Composite material application sector is expected to report highest growth in the forecast period of 2016-2022.

Market Share

Regional study • Market regions that are covered in the report are North America, Europe, Asia-Pacific and RoW. Asia-Pacific market has the highest market share in the epoxy resin market and accounted for 64% global epoxy resin consumption. It is expected to report fastest growth in the forecast period as well. • North America and Europe too will report growth in the coming years. Demand from growing automotive industry and coatings in marine industry will drive the North American market growth. • Wind turbine usage increase will also propel the market in both Europe and North America. Europe market growth will be due to demand from automotive and aerospace industries.

Competitive Insights • The major market players for epoxy resin are 3M Company, Nan Ya Plastic Corporation, BASF SE, Chang Chun Plastics Co. Ltd., Hexion Specialty Chemicals, DuPont, Huntsman Corporation, SanMu Group, Kukdo Chemical Co. Ltd. and Nama Chemicals. Nan Ya Plastic corp is the largest market player.

• Companies are forming alliances and are going for mergers and acquisitions to strengthen their market position.

• Organizations are investing in research and development to come up with novel and innovative products that will capture new market share.

Report Segmentation • MARKET BY APPLICATION • • • • • • •

ADHESIVES COMPOSITES CONSTRUCTION ELECTRICAL & ELECTRONICS PAINTS & COATINGS WIND TURBINE OTHER APPLICATIONS

• REGIONAL ANALYSIS • NORTH AMERICA

• US • CANADA • REST OF NORTH AMERICA

• EUROPE

• • • • •

UK GERMANY FRANCE NORDICS RUSSIA

• ASIA

• • • • •

• ROW

CHINA JAPAN SOUTH KOREA INDIA REST OF ASIA

• SOUTH AMERICA

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