According to the report published by Allied Market Research, the global epoxy resin market was estimated at $8.9 billion in 2020 and is expected to hit $16.6 billion by 2030, registering a CAGR of 6.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Rise in demand for lightweight composites, increase in R&D activities associated with the epoxy resin technology, and surge in response toward epoxy resin from the energy sector drive the growth of the global epoxy resin market. On the other hand, fluctuations in raw material prices restrain the growth to some extent. However, introduction of bio-based epoxy resin is anticipated to create lucrative opportunities in the industry.
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Covid-19 Scenario-
- There was a steep decline in demand for epoxy resin in industries such as consumer goods, aerospace, marine, and transportation, which impacted the global epoxy resin market negatively.
- Nevertheless, the market has started recovering at a swift pace.
The global epoxy resin market is analyzed across form, type, application, end-user industry, and region. Based on form, the liquid segment contributed to around three-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The solid segment, on the other hand, would exhibit the fastest CAGR of 7.2% during the forecast period.
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By application, the paints & coatings segment accounted for more than one-fourth of the total market revenue in 2020, and is expected to dominate by 2030. The adhesive & sealants segment, however, would showcase the fastest CAGR of 7.4% throughout the forecast period.
Based on region, the market across Asia-Pacific held the major share in 2020, garnering around half of the global market. The LAMEA region, simultaneously, would manifest the fastest CAGR of 8.6% throughout the forecast period.
The key market players analyzed in the global epoxy resin market report include BASF SE, Dow, Inc, Hexion, Huntsman Corporation, LLC, Kukdo Chemicals Co., Ltd, Nan Ya Plastics Corporation, Atul Ltd, Olin Corporation, Techstorm Advanced Materials, and Solvay SA. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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