Dublin, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The "Global Epoxy Resin Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Raw Material, Physical Form, Technology, Application, End-User, and Region" report has been added to ResearchAndMarkets.com's offering.
The Global Epoxy Resin Market is expected to record a positive CAGR of ~7% during the forecast period (2022-2028), due to the rapid industrialization and rise in demand from the building and construction industries.
Due to the adaptive nature of epoxy compounds, resins have gained recognition in several industries such as construction, automobile, aviation, electromechanical, telecommunications, energy, and others.
The growing construction industry is expected to augment the growth of the paints and coatings industry. In 2021, the government of Europe planned to construct around 1.5 million housing units. Similarly, the growth in construction activities in countries like Russia, France, the United Kingdom, etc., is expected to drive the growth of the epoxy resin market.
For instance, according to the National Development and Reform Commission (NDRC), in 2019, the government of China approved 26 infrastructure projects with a total expected investment of USD 142 billion. Similarly, in 2020, the Communist Party of China announced that the government is planning around USD 1,400 Bn for a digital infrastructure public spending program.
Epoxies are made with petroleum-based basic ingredients like BPA (Bisphenol A) and ECH (Epichlorohydrin). Thus, changes in the crude oil price have a considerable impact on the pricing of these many raw materials, as well as the basic costs of epoxy resin. Price fluctuations have a detrimental influence on profit margins, particularly for small-scale producers, which hampers the growth of the market.
The market was negatively impacted by the COVID-19 pandemic in 2021, owing to the strict regulations in several countries. This affected various industries such as paints and coatings, adhesives and sealants, electrical and electronics, and others due to supply chain disruptions, work stoppages, and labor shortages. The global pandemic caused a ban on imports-exports thereby disrupting the supply chain and hampering the market.
The demand for epoxy resin decreased in the aerospace, transportation, and marine industries, as all the industries were shut and due to this, demand for resin had been impacted negatively.
Scope of the Report
By Raw Material
By Physical Form
Solvent Cut Epoxy
Paints & Coatings
Wind Turbines & Composites
Electrical & Electronics
Adhesives & Sealants
Building & Construction
North America (USA, Canada, and Mexico)
Europe (France, Italy, Germany, Spain, UK, and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia Pacific)
LAMEA (Latin America, Middle East, and Africa)
Huntsman International LLC
The Dow Chemical Company
Kukdo Chemical Co, Ltd
China Petrochemical Corporation
Aditya Birla Management Corporation Pvt Ltd
Kolon Industries, Inc
Recent Developments Related to Major Players and Organizations
In November 2021, Hexoin Inc. announced its definitive agreement with Westlake Chemical Corporation. Hexion Inc. sold Hexion's global epoxy business for approximately USD 1.2 Bn to Westlake Chemical Corporation company The transaction was completed in the first half of 2022
In October 2021, Azelis Holding S.A. announced their distribution agreement with BASF for the sales of resin products from the company The collaboration boosted the company's lateral value chain by adding market-leading products to its various market segments
On April 1, 2021, Covestro AG successfully completed the acquisition of the Resins & Functional Materials business (RFM) from the Dutch company Royal DSM. The acquisition helped Covestro in the expansion of its portfolio of sustainable coating resin products.
Key Topics Covered in the Report
Snapshot of Global Epoxy Resin Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Epoxy Resin Market
Historic Growth of Overall Global Epoxy Resin Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Epoxy Resin Industry
Overview, Product Offerings, and Strength & Weakness of Key Competitors
Covid-19 Impact on the Overall Global Epoxy Resin Market
Future Market Forecast and Growth Rates of the Total Global Epoxy Resin Market and by Segments
Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Epoxy Resin Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region
For more information about this report visit https://www.researchandmarkets.com/r/ww0h1g
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