Epoxy Resins Market Global Outlook & Forecast 2024-2029, Featuring Key Player Profiles for 3M, Dow, Hexion, Huntsman Corporation, Olin, Sika and Ashland Global Holdings - ResearchAndMarkets.com

The "Epoxy Resins Market - Global Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The Epoxy Resins Market was valued at USD 12.24 billion in 2023, and is projected to reach USD 16.49 billion by 2029, rising at a CAGR of 5.09%.

The global epoxy resin market is characterized by a dynamic and competitive environment, featuring a blend of major international corporations and agile regional players striving for market dominance.

Key players in the global epoxy resin market include industry giants such as 3M, Dow Inc., Huntsman Corporation, Sika and Ashland Global Holdings. These leading companies drive competition through continuous innovation, substantial investment in research and development, and strategic global expansions. The competition is further intensified by the need to meet evolving customer demands and regulatory standards, particularly in sustainability and performance.

With the growing competition in the epoxy resin industry, the key players, such as Kukdo, Huntsman, Hexion, and others, are focusing on catering to the maximum production capacities to better serve the existing consumers. Leading companies are actively investing in the fastest-growing regional epoxy market, such as the Middle East & Africa and APAC.

MARKET TRENDS & DRIVERS

Evolving Market of Bio-based Epoxy Resins

With growing concerns about environmental impact and sustainability, many businesses seek alternatives to traditional epoxy resins derived from fossil fuels with a high carbon footprint. New resin formulations are being created using renewable resources, such as plant-based oils and bio-based materials. These sustainable resins offer similar performance characteristics to traditional epoxy resins but with a significantly reduced environmental impact. They have lower VOC emissions, reduced energy consumption during production, and can be easily recycled or disposed of in an environmentally friendly manner. Furthermore, adopting sustainable resin solutions can also help businesses comply with regulations and standards related to environmental sustainability. Many industries, such as construction, automotive, and electronics, are implementing stricter environmental regulations, and using sustainable resins can ensure compliance and avoid potential penalties or reputational damage.

Technological Advancements

Technological advancements have produced epoxy resins with improved properties necessary for the demanding and changing industrial environments. These innovations not only enhance the properties of epoxy resin but also open new possibilities for its application in various industries. For example, the development of nanotechnology has led to the creation of epoxy resins with improved strength, durability, and resistance to chemicals and temperature extremes. In addition, curing agents and additives advancements have allowed for faster curing times and enhanced adhesion properties. By staying updated on the latest technological innovations in the epoxy resin market, businesses can gain a competitive edge and capitalize on new opportunities for growth and expansion.

GEOGRAPHICAL ANALYSIS

In 2023, the APAC region accounted for the largest global epoxy resin market share of around 41% (by value). With favorable growth of end-use industries in China, India, Japan, and other countries, the region is expected to lead this market even during the forecast period. Moreover, the continuously expanding composites market, construction & automotive industries are further boosting the demand for durable & sustainable epoxies. India is projected to show prominent growth soon due to rapid industrialization. Also, owing to the well-established epoxy supply chains & manufacturers, countries such as South Korea & Japan hold a significant portion of the regional market.

North America holds a significant share of the global epoxy resin market due to the high penetration of both commercial and residential sectors and the substantial disposable income of consumers. Moreover, in North America, increasing digitization is fueling demand for electrical & electronic systems, and epoxy-based, long-lasting & reliable components are used in these systems to reduce costs and improve performance. In addition, in Europe, automotive, wind energy, and composites drive the growth of low & high cured epoxy resins. Germany is the leading contributor to Europe's epoxy resin industry growth. However, Latin America, the Middle East & Africa holds a smaller share; these regions are anticipated to indicate faster growth in the global market. Technological innovations, rapid industrial development, changing government policies, and rising disposable income in these regions are aiding the growth of epoxy-based end-use industries.

VENDORS LANDSCAPE

Key Company Profiles

• Hexion
• Olin Corporation
• Huntsman International

Other Prominent Vendors

• 3M
• BASF
• Dow
• Atul Ltd
• KUKDO Chemical Co.
• Sika Group
• NAN YA Plastics Industrial Co., Ltd.
• DIC Corporation
• Sanmu Group
• Chang Chun Group
• Sinopec (China Petroleum & Chemical Corporation)
• Kolon Industries, Inc
• Nagase & Co., Ltd
• Grasim Industries Ltd (Aditya Birla Group)
• Covestro
• SABIC
• Henkel
• Gougeon Brothers Inc
• GreenPoxy (Epoxy.com)
• EPOKE
• Magnifico
• Nama Chemicals

Key Attributes:

Key Topics Covered:

1. Scope & Coverage

2. Premium Insights

2.1. Opportunity Pockets

2.2. Overview

2.3. Factors Leading the Growth Market

2.3.1. Evolving Market of Bio-based Epoxy Resins

2.3.2. Technological Advances

2.4. Market Segment Analysis

2.5. Regional Analysis

2.6. Vendors Landscape

3. Market at a Glance

4. Introduction

4.1. Overview

4.2. Rising Demand from the Wind Energy Industry

4.3. Bio-based vs Traditional Epoxy Resins

4.4. Import & Export Statistics (HS Code: 390730)

4.4.1. Epoxide Resins in Primary Forms (By Value)

4.4.2. Epoxide Resins in Primary Forms (By Quantities)

4.5. Presence of Strong Aerospace Industry

4.6. Robust Expansion of Marine Industry

4.7. Shift Toward Low VOC Epoxy Resins

4.8. Value Chain Analysis

4.8.1. Raw Materials

4.8.2. Manufacturers

4.8.3. Dealers & Distribution

4.8.4. End-user

5. Market Opportunities & Trends

5.1. Evolving Market of Bio-based Epoxy Resins

5.2. Emerging AI Technology in Epoxy Resin Market

5.3. Innovations in 3D Printing

6. Market Growth Enablers

6.1. Technological Advances

6.2. Rising Automotive Industry

6.3 Robust Growth of Construction Sector

7. Market Restraints

7.1. Raw Material Price Volatility

7.2. Presence of Alternative Materials

7.3. Environmental Concerns & Regulatory Challenges

8. Market Landscape

8.1. Market Size & Forecast

8.2. Five Forces Analysis

9. Raw Materials

9.1. Market Snapshot & Growth Engine (Value)

9.2. Market Snapshot & Growth Engine (Volume)

9.3. Market Overview

9.4. DGBEA (Bisphenol a and ECH)

9.5. DGBFA (Bisphenol F and ECH)

9.6. Novolac (Formaldehyde and Phenols)

9.7. Aliphatic (Aliphatic Alcohols)

9.8. Glycidyl Amine (Aromatic Amines and ECH)

9.9. Other Materials

10. Formulation

10.1. Market Snapshot & Growth Engine (Value)

10.2. Market Snapshot & Growth Engine (Volume)

10.3. Market Overview

10.4. Liquid

10.5. Solid

10.6. Powder

11. Bonding

11.1. Market Snapshot & Growth Engine (Value)

11.2. Market Snapshot & Growth Engine (Volume)

11.3. Market Overview

11.4. Two-Part

11.5. One-Part

11.6. Three-Part

12. Curing Method

12.1. Market Snapshot & Growth Engine (Value)

12.2. Market Snapshot & Growth Engine (Volume)

12.3. Market Overview

12.4. Cold Cure

12.5. Thermal Cure

12.6. UV-Curing

12.7. Moisture Curing

12.8. Other Methods

13. Application

13.1. Market Snapshot & Growth Engine (Value)

13.2. Market Snapshot & Growth Engine (Volume)

13.3. Market Overview

13.4. Paints & Coatings

13.5. Adhesives & Sealants

13.6. Composites

13.7. Encapsulations

13.8. Other Applications

14. End-users

14.1. Market Snapshot & Growth Engine (Value)

14.2. Market Snapshot & Growth Engine (Volume)

14.3. Market Overview

14.4. Construction

14.5. Automotive

14.6. Electrical & Electronics

14.7. Manufacturing

14.8. Power & Energy

14.9. Aerospace

14.10. Other Users

15. Geography

15.1. Market Snapshot & Growth Engine (Value)

15.2. Market Snapshot & Growth Engine (Volume)

15.3. Geographic Overview

16. APAC

17. North America

18. Europe

19. Latin America

20. Middle East & Africa

21. Competitive Landscape

22. Key Company Profiles

23. Other Prominent Vendors

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