Epoxy Resin Market - Key Regions, Company Profile, Opportunity and Challenge 2024 “Global Epoxy Resin Market is anticipated to grow considerably in the forecast period owing to the growing industrialization and the growing development in electronic and electrical equipment.�
Global Epoxy Resin Market is anticipated to grow considerably in the forecast period owing to the growing industrialization and the growing development in electronic and electrical equipment. Epoxy is a chemical known for its versatility. It is highly used in chemical compounds that has created a niche market for numerous industrial applications. Epoxy resins are used in decorative flooring, in fabric applications for surgical and dental treatments, printing inks, etc. Epoxy resins also have applications as additives for several plastic materials like acrylic & vinyl resins and synthetic &natural rubbers. Currently, epoxy resins are extensively used in numerous structural and engineering applications like electrical industry, commercial and military planes. To improve the performance of products and maintaining costefficiency, several new fillers are bring introduced into resins while processing. Epoxy resins have extensive applications as an insulation in electrical and electronic that need protection in extreme and hazardous environments like engine management, deep sea, and chemical plant equipment due to the properties like high mechanical and physical strength, excellent dimensional stability, good dielectric properties, and more. They also have applications in keeping switches, generators, motors and transformers clean, dry and free of shots. Moreover, the growing consumption rate of electronic and electrical equipment on a commercial scale in emerging economies like China & India is predicted to drive epoxy resin industry. Epoxy resins have also created strong presence in paints & coating industry. They offer two major advantages that comprise protection and decoration. Several industries make use of paints & coatings for different purposes. They can be stated as primer tie coats, abrasion resistant coating, anti-corrosive primers, heat & fire resistant and chemical coatings.
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