Epoxy Resin Market by Application (Paints & Coatings, Wind Energy, Composites, Construction, Electrical & Electronics and Other): Global Industry Perspective, Comprehensive Analysis and Forecast, 2022 – 2028

Market Overview      

The global Epoxy Resin Market accounted for USD 8.5 Billion in 2020 and is expected to reach USD 14.7 Billion by 2028, growing at a CAGR of around 6.8% between 2021 and 2028.

Epoxy resin is a thermosetting polymer which is produced using copolymerization of an epoxide with another compound having two hydroxyl groups. It has better performance in various applications such as paints & coatings, adhesives, composites, and electronic encapsulation industries. This is attributed to the its superior properties such as corrosion resistance, high thermal stability, superior mechanical strength, notable toughness, prolonged durability, resistance to chemical & moisture, and superior adhesion. Solid and liquid are the two epoxy resin available in the market.

Various mergers and acquisitions by market players are set to act as a catalyst in the development of the global epoxy resin market. For example, in August 2018, Elon Musk joined hands with Lost Surfboards of Matt Biolos to make a limited edition of 200 boards. The boards were made from epoxy resins and were sold for a price tag of $1,500 each, thereby boosting the global epoxy resin market.

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COVID-19 Impact Analysis

Due to government-imposed lockdowns to prevent the spreading of COVID, the global Epoxy Resin industry has seen a small decrease in revenues in the short term. Because of the increasing infections and curbs, sales of Epoxy Resin are likely to suffer across the globe. Owing to the pandemic, paints & coatings, adhesives, composites, and electronic encapsulation industrie have been shut down across all economies, potentially reducing the production and its usage. However, in the midst of the pandemic, there has been a surge in product demand for applications such as paints and coating, and electronic encapsulation, which in turn, provides an opportunity post covid.

The significant decrease in the global Epoxy Resin market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Growth Factors

Epoxy resin-based coatings, as well as paints, are employed in wall coatings of tank lining, food storage & manufacture, seal coats, swimming pools finishes, waterproofing, wet rooms, water treatment plants, and decorative finishes. Hence, the development coating & paint sector and the consequent requirement for epoxy resins are likely to boost the demand for global epoxy resin market in the years to come.

Report Scope: 

Application Segment Analysis Preview 

Electronics and electrical segment added up for 35.0% share of the entire global epoxy resin market in 2020, chased by coatings and paints. Composites are likely to see the highest development rate due to rising demand for lightweight & high-strength composite substance from automotive, aerospace, and defense industries, thereby boosting the global epoxy resin market.

Key Market Players & Competitive Landscape

Some of the major players of global Epoxy Resin Market includes ow Chemical Company, Huntsman Corporation, Nan Ya Plastic Corporation, Ashland Inc., Sika AG, Kukdo Chemical Co. Ltd., NAMA Chemicals, Cytec, Du Pont, 3M Company, Baling Petrochemical, BASF SE, and Spol Chemie.

The global Epoxy Resin Market is segmented as follows:

By Application

  • Paints & Coatings
  • Wind Energy
  • Composites
  • Construction
  • Electrical & Electronics
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table of Content

Chapter No. 1 Introduction

    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope

Chapter No. 2 Executive Summary

    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Epoxy Resin Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
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Chapter No. 3 COVID 19 Impact Analysis

    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics

Chapter No. 4 Epoxy Resin Market – Application Segment Analysis

    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 4.2. Paints & Coatings
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Wind Energy
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Composites
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Construction
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Electrical & Electronics
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Others
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities

Chapter No. 5: Epoxy Resin Market – Industry Analysis

    • 5.1. Overview
      • 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 5.2. North America
      • 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.2.2. North America Market Revenue, By Application, 2016 – 2028
      • 5.2.3. U.S.
        • 5.2.3.1. U.S. Market Revenue, By Application, 2016 – 2028
      • 5.2.4. Canada
        • 5.2.4.1. Canada Market Revenue, By Application, 2016 – 2028
      • 5.2.5. Mexico
        • 5.2.5.1. Mexico Market Revenue, By Application, 2016 – 2028
    • 5.3. Europe
      • 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.3.2. Europe Market Revenue, By Application, 2016 – 2028
      • 5.3.3. Germany
        • 5.3.3.1. Germany Market Revenue, By Application, 2016 – 2028
      • 5.3.4. France
        • 5.3.4.1. France Market Revenue, By Application, 2016 – 2028
      • 5.3.5. U.K.
        • 5.3.5.1. U.K. Market Revenue, By Application, 2016 – 2028
      • 5.3.6. Italy
        • 5.3.6.1. Italy Market Revenue, By Application, 2016 – 2028
      • 5.3.7. Spain
        • 5.3.7.1. Spain Market Revenue, By Application, 2016 – 2028
      • 5.3.8. Rest of Europe
        • 5.3.8.1. Rest of Europe Market Revenue, By Application, 2016 – 2028
    • 5.4. Asia Pacific
      • 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.4.2. Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 5.4.3. China
        • 5.4.3.1. China Market Revenue, By Application, 2016 – 2028
      • 5.4.4. Japan
        • 5.4.4.1. Japan Market Revenue, By Application, 2016 – 2028
      • 5.4.5. India
        • 5.4.5.1. India Market Revenue, By Application, 2016 – 2028
      • 5.4.6. South Korea
        • 5.4.6.1. South Korea Market Revenue, By Application, 2016 – 2028
      • 5.4.7. South-East Asia
        • 5.4.7.1. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 5.4.8. Rest of Asia Pacific
        • 5.4.8.1. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 5.5. Latin America
      • 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.5.2. Latin America Market Revenue, By Application, 2016 – 2028
      • 5.5.3. Brazil
        • 5.5.3.1. Brazil Market Revenue, By Application, 2016 – 2028
      • 5.5.4. Argentina
        • 5.5.4.1. Argentina Market Revenue, By Application, 2016 – 2028
      • 5.5.5. Rest of Latin America
        • 5.5.5.1. Rest of Latin America Market Revenue, By Application, 2016 – 2028
    • 5.7. The Middle-East and Africa
      • 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.6.2. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
      • 5.6.3. GCC Countries
        • 5.6.3.1. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 5.6.4. South Africa
        • 5.6.4.1. South Africa Market Revenue, By Application, 2016 – 2028
      • 5.6.5. Rest of Middle-East Africa
        • 5.6.5.1. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
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Chapter No. 6: Epoxy Resin Market – Industry Analysis

    • 6.1. Introduction
    • 6.2. Market Drivers
      • 6.2.1. Driving Factor 1 Analysis
      • 6.2.2. Driving Factor 2 Analysis
    • 6.3. Market Restraints
      • 6.3.1. Restraining Factor Analysis
    • 6.4. Market Opportunities
      • 6.4.1. Market Opportunity Analysis
    • 6.5. Porter’s Five Forces Analysis
    • 6.6. PEST Analysis
    • 6.7. Regulatory Landscape
    • 6.8. Technology Landscape
    • 6.9. Regional Market Trends
      • 6.9.1. North America
      • 6.9.2. Europe
      • 6.9.3. Asia Pacific
      • 6.9.4. Latin America
      • 6.9.5. The Middle-East and Africa
    • 6.10. Pricing Analysis
    • 6.11. Value Chain Analysis
    • 6.12. Downstream Buyers
    • 6.13. Distributors/Traders List

Chapter No. 7: Competitive Landscape

    • 7.1. Company Market Share Analysis – 2019
      • 7.1.1. Global Epoxy Resin Market: Company Market Share, 2019
      • 7.1.2. Global Epoxy Resin Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 7.1.3. Global Epoxy Resin Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 7.1.4. Global Epoxy Resin Market: Radar Determinant Chart, 2019
    • 7.2. Strategic Developments
      • 7.2.1. Acquisitions & Mergers
      • 7.2.2. New Type Launch
      • 7.2.3. Regional Expansion
    • 7.3. Company Strategic Developments – Heat Map Analysis

Chapter No. 8: Company Profiles

    • 8.1. Huntsman Corporation
      • 8.1.1. Company Overview
      • 8.1.2. Key Executives
      • 8.1.3. Type Portfolio
      • 8.1.4. Financial Overview
      • 8.1.5. Operating Business Segments
      • 8.1.6. Business Performance
      • 8.1.7. Recent Developments
    • 8.2. Dow Chemical Company
    • 8.3. Momentive Specialty Chemicals Inc
    • 8.4. Nan Ya Plastic Corporation
    • 8.5. Sika AG
    • 8.6. Kukdo Chemical Co. Ltd
    • 8.8. Ashland Inc
    • 8.9. Cytec
    • 8.10. NAMA Chemicals

Chapter No. 9: Marketing Strategy Analysis

    • 9.1. Marketing Channel
    • 9.2. Direct Marketing
    • 9.3. Indirect Marketing
    • 9.4. Marketing Channel Development Trends
    • 9.5. Economic/Pulitical Environmental Change

Chapter No. 10: Research Methodology

    • 10.1. Research Methodology
    • 10.2. Phase I – Secondary Research
    • 10.3. Phase II – Data Modeling
      • 10.3.1. Company Share Analysis Model
      • 10.3.2. Revenue Based Modeling
    • 10.4. Phase III – Primary Research
    • 10.5. Research Limitations
      • 10.5.1. Assumptions

List of Tables 

TABLE NO. 1. Global Epoxy Resin Market: Snapshot
TABLE NO. 2. Quarterly Epoxy Resin Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Epoxy Resin Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Epoxy Resin Market for Paints & Coatings, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Epoxy Resin Market for Wind Energy, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Epoxy Resin Market for Composites, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Epoxy Resin Market for Construction, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Epoxy Resin Market for Electrical & Electronics, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Epoxy Resin Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Epoxy Resin Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. North America Epoxy Resin Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 14. North America Epoxy Resin Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 15. U.S. Epoxy Resin Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 16. Canada Epoxy Resin Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 17. Mexico Epoxy Resin Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 18. Drivers for the Epoxy Resin Market: Impact Analysis
TABLE NO. 19. Restraints for the Epoxy Resin Market: Impact Analysis
TABLE NO. 20. Major Buyers of Epoxy Resin
TABLE NO. 21.: Distributors/Traders List of Epoxy Resin
TABLE NO. 22.: Global Epoxy Resin Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 23: Global Epoxy Resin Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)

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Free Analysis

Epoxy resins are thermosetting polymers and are available in liquid, solution, and solid form. Epoxy resins are classified on the basis of physical phase as solid and liquid epoxy resins. Solid epoxy resins are nonhazardous material but liquid epoxy resins are classified as hazardous material. Epoxy resins are used as binders in cement and mortars, general purpose adhesives, industrial coatings, rigid foams, non-skid coatings, solidifying sandy surfaces in oil drilling, potting and encapsulating media. Epoxy resins are well known for its curable nature. The majority of epoxy resins are derived from petroleum.

On the basis of application epoxy resins segmented as paints & coatings, electrical & electronics, construction, wind turbine, composites, adhesive and others. Among all, paints & coatings accounted around 42% of the global epoxy resin market. Construction industry accounted for the third-largest share of the epoxy resin market in 2019 and is expected to grow during the forecast period because of, epoxy resin properties such as adhesive strength, luster, and   hardness. Demand for epoxy resins in the automobile industry is expected to grow on account of heat resistance property of epoxy resin.

Asia Pacific was the dominant regional segment of the epoxy resin market in 2019. It accounted more than 63% of the global epoxy resin market in 2019. This trend is   continued during the forecast period 2020 to 2026. Increasing automotive demand coupled with rapid infrastructure development is expected to grow the regional demand for epoxy resin during the forecast period. Germany is the main epoxy resin market in Europe. Germany is expected to grow with the highest rate in Europe. There will be boomed of epoxy resin market in Europe due to increasing demand in the aerospace industry. The increasing use of wind turbines for power generation is driving force for epoxy resin in North America and is expected to grow with moderate rate during the forecast period. High growth in end user industries is the main driver for epoxy resin market. Besides that availability of phenolic resins and polyurethane as alternatives in various applications as well as fluctuations in raw material prices is expected to restrict market growth.

Key players of the epoxy resins market include Huntsman Corporation, Dow Chemical Company, Momentive Specialty Chemicals Inc., Nan Ya Plastic Corporation, Sika AG, Kukdo Chemical Co. Ltd., Ashland Inc., Cytec, NAMA Chemicals, 3M Company, Du Pont, BASF SE, Baling Petrochemical and Spol Chemie among others.

Frequently Asked Questions

Some of the major players of global Epoxy Resin Market includes Dow Chemical Company, Huntsman Corporation, Nan Ya Plastic Corporation, Ashland Inc., Sika AG, Kukdo Chemical Co. Ltd., NAMA Chemicals, Cytec, Du Pont, 3M Company, Baling Petrochemical, BASF SE, and Spol Chemie. 

 

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