Epoxy Resin Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The epoxy resin market has seen robust growth in recent years. It is projected to increase from $11.65 billion in 2023 to $12.72 billion in 2024, at a compound annual growth rate (CAGR) of 9.2%. This growth can be attributed to factors such as the construction boom, expansion of the automotive sector, growth in electronics manufacturing, infrastructure development, and the implementation of stringent environmental standards.
What Are the Market Size Estimates for the Global Epoxy Resin Market and Its Expected Growth Rate?
The epoxy resin market is anticipated to experience substantial growth in the coming years. It is projected to reach $17.99 billion by 2028, growing at a compound annual growth rate (CAGR) of 9.1%. This growth is expected to be driven by advancements in electronics, the development of biocompatible materials, the rise of circular economy initiatives, increased globalization and trade, and the surge in electric vehicle (EV) adoption.
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What Are The Primary Growth Drivers Of The Epoxy Resin Market?
The growth of the aerospace sector is expected to drive the expansion of the epoxy resin market. The aerospace industry involves the design, development, manufacturing, and maintenance of aircraft and spacecraft. Epoxy resins are often used in combination with materials like carbon fiber, fiberglass, and other high-strength fibers to produce lightweight yet durable and rigid structural components essential for aerospace applications.
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Who Are The Top Market Players Contributing To The Growth Of The Epoxy Resin Market?
Key players in the epoxy resin market include China Petroleum & Chemical Corporation (Sinopec), Badische Anilin- und Sodafabrik, The Dow Chemical Company, Mitsubishi Chemical Corporation, Minnesota Mining and Manufacturing Company, Evonik Industries AG, Covestro AG, Westlake Epoxy LLC, DuPont de Nemours Inc., NAN YA PLASTICS CORPORATION, Solvay S.A., Sika AG, Olin Corporation, Huntsman International LLC, Atul Ltd, Daicel Corporation, Hexion Inc., Ashland Global Holdings Inc., Jiangsu Sanmu Group Co. Ltd., Allnex Belgium SA/NV, NAMA Chemicals, Kukdo Chemical Co. Ltd., Magnolia Epoxy, Mapei S.p.A., DIC India Limited, SPOLCHEMIE - Chemické závody a.s.
What Emerging Trends Are Affecting The Size Of The Epoxy Resin Market?
Leading companies in the epoxy resin market are concentrating on developing innovative solutions, such as epoxy-based resin technology. This technology involves utilizing epoxy resins as the key ingredient in the creation of a wide range of materials and products, enhancing their performance and versatility across various industries.
How Is the Global Epoxy Resin Market Segmented?
1) By Type: DGBEA (Bisphenol A And ECH), DGBEF (Bisphenol F And ECH), Novolac (Formaldehyde And Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines And ECH), Other Types
2) By Physical Form: Liquid, Solid, Solution
3) By Application: Paints And Coatings, Composites, Adhesives And Sealants, Other Applications
4) By End-User: Building And Construction, Automotive, Large And Heavy Vehicles And Railroads, General Industrial, Consumer Goods, Wind Power, Aerospace, Marine, Other End-Users
Geographical Analysis: Asia-Pacific Emerges as the Epoxy Resin Market Leader
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Overview Of The Epoxy Resin Market?
Epoxy resin is a type of polymer and prepolymer that is reactive and contains epoxide groups. When exposed to catalysts, these resins can react with each other or with various co-reactants such as amines, phenols, and thiols. Epoxy resins are commonly used to enhance strength, durability, chemical resistance, and adhesion in a variety of applications.
The Epoxy Resin Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Epoxy Resin Market Report: Trends, Opportunities, Strategies, and More
The Epoxy Resin Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into epoxy resin market size, epoxy resin market drivers and trends, epoxy resin competitors' revenues, and epoxy resin market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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