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What Are The Most Significant Industry Trends Affecting The Global Epoxy Resin Market Today?

Global Epoxy Resin Market Growth Factors

Global Epoxy Resin Market Overview:

The term “epoxy” refers to any of the epoxy resin’s fundamental components or cured end products. Reactive prepolymers and polymers that include epoxide groups are known as poly-epoxides or epoxy resins.

Catalytic homopolymerization or co-reaction can be uses to cross-link epoxy resins. epoxy resins are compatible with several co-reactants, including polyfunctional amines and phenols as well as acids and acid anhydrides as well as alcohols and thiols. Hardeners and curatives are the names given to these co-reactants. Curing is a common term for the cross-linking reaction.

In addition to metal coatings, epoxy is use in electronics, electrical components, and LEDs; paint brushes; high-tension electrical insulators; and fiber-reinforced plastic composites for structural and other uses.

Growth Based on geographical location

North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa are the regions in which the market is divided.

As a result of increasing demand from aeronautics and defense applications such as composites for airplanes, North America is the largest region in the global epoxy resin market.

Additionally, the United States, Canada, and Mexico are included because they are some of the key countries in this region that have a large presence in terms of economics, infrastructure development, and other areas.

In terms of market size, Latin America is the second most important region in the global flexible epoxy resin market, and it is expected to grow at a faster rate than the global market overall due to an increase in demand for adhesive applications such as composites, paints & coatings, and other similar products.

Because of the strong economic growth of countries such as India, China, Japan, and others, the Asia Pacific region is expected to have the fastest-growing market for flexible epoxy resins.

This growth can be attributed to increased investments by various companies across different industries, which has resulted in an increase in their production activities, which is in high demand from the end-use industry, such as paint and coating applications that involve the use of flexible epoxy resins.

European countries include Germany, the United Kingdom, France, and other countries in Western Europe. Europe is the third-largest region in the global flexible epoxy resin market due to rising demand from composites and adhesives applications such as structural, non-structural, and other applications.

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The Middle East and Africa region is part of the Middle East and includes countries such as Saudi Arabia, the United Arab Emirates, Oman, and some others.

The Middle East and Africa region is expected to grow at a faster rate than the rest of the world due to increase of infrastructure development activities, particularly in GCC (Gulf Cooperation Council) countries such as Qatar, Bahrain, and Kuwait, for oil exploration purposes, resulting in increase demand for paints products containing  Epoxy Resin products by various industries such as the aeronautic

epoxy resin

The Food and Beverage Industry’s Growing Demand for Packaging Is Boosting Epoxy Resin Market Growth.

Packaging is in more demand than ever before, thanks to the expanding popularity of convenience and processed foods and drinks in both developed and developing countries.

In order to extend the shelf life of canned food and drinks, epoxy resins are employ as interior coatings on the cans. In addition to protecting and preserving food and beverage goods’ flavors, textures, and colors, these coatings also serve to prevent corrosion.

Increasing usage of glass packaging, which employs epoxy resin to protect jars and bottles from corrosion, is also a major factor in the market’s growth.

Epoxy resin’s popularity is rising as a result of new food safety regulations being implements by various governments, which is helping to propel the market’s expansion.

Epoxy Resin Market Segmentation and Forecasting

A variety of polymers and prepolymers make up epoxy resins, which can react with itself or with co-reactants to improve their mechanical, thermal, and chemical resistance qualities.

Epoxy resins are also known as polyepoxides in some circles. As a result,

they are suites for usage in a wide range of applications, including metal coatings, electronic components, and adhesives, to name a few.

Type-Specific Insight

The DGBEA category is expects to account for the greatest revenue share of 26.6 percent in 2020,

according to projections. Over the projected period, the increasing demand for DGBEA resin in the construction and manufacturing industries is likely to fuel the segment’s expansion.

Nonetheless, as a result of the broad application of novolac in surface coatings, adhesives,

and plastics, the novolac category is predict to develop significantly over the course of the projection period.

Application-Driven Insight

Over the projection period, the paints and coatings industry is predicts  to increase at a compound annual growth rate (CAGR) of 6.6 percent.

On the other hand, adhesives and sealants are predict to grow at the quickest rate in the worldwide epoxy resin business,

owing to their broad application in the construction, automotive, energy, and electronic sectors, among other industries.

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A lack of demand and difficulties in the supply chain have the potential

to produce shortages in the epoxy resins market.

Plant closures, harsh weather conditions, logistical challenges, and

a spike in crude oil prices can all result in a shortage of supply,

which forces downstream industries to postpone production or find alternate sources of supply for their products.

Epoxy resins are uses in a variety of applications, including adhesives, high-performance coatings,

electrical/electronic laminates and adhesives, flooring and paving,

and structural elements for the automotive, aerospace, and aviation sectors.

Their adhesion, chemical and heat resistance, as well as electrical insulating qualities,

distinguish them from other thermosetting resins of similar performance.

Drivers of economic growth

In recent years, there has been a surge in the use of epoxy resin in many applications.

Because of its excellent oxidation and corrosion resistance, the epoxy resin sector has seen a surge in its market share.

In comparison to other forms of resin, the flexibility and chemical

stability of thermoplastic resin provide it a distinct competitive edge.

Furthermore, the growing demand for epoxy-based materials

in the transportation sector, as well as the constant growth of the construction industry, are driving the market size.

Market demand for readily available and processed goods and

beverages is increasing, which is increasing packaging demand in both established and emerging markets.

Can interior coatings using epoxy resins have been use to

improve the shelf life of tinned foods and beverages for decades.

These are primarily use to retain and preserve the flavor,

texture, and color of food and beverage products, as well as to provide corrosion protection.

Furthermore, the increasing use of glass packaging,

which incorporates epoxy resin to prevent rusting in jars and containers,

has made a significant contribution to the development of the industry.

Epoxy resin demand is increasing as a result of the

implementation of various stringent food safety regulations by various countries, which is fueling the market’s expansion.

Top competitors in the market

Epoxy Resin with Good Flexibility With strategic analysis, micro and macro market trend and scenarios, price analysis, and

A holistic summary of the market conditions in the projected period.

The market research study keeps a close eye on top competitors in the market.

There are major and secondary drivers discussed.

As well as market share, top segments and regional analysis in this professional and exhaustive study.

In addition, the research examines significant actors, major partnerships, mergers and acquisitions, as well as emerging innovations and corporate strategies.

Key Competitors

  • BASF SE
  • Atul Ltd.
  • Dow Inc.
  • Hexion Inc.
  • Huntsman Corporation
  • Kukdo Chemicals Co. Ltd.
  • Nan Ya Plastics Corporation
  • Olin Corporation
  • Solvay SA
  • Techstorm Advanced Materials

 

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