Zion Research has published a new report titled “Epoxy Resin
Market, for Paints and Coatings, Wind Energy, Composites, Construction,
Electrical & Electronics and Other Applications: Global Industry
Perspective, Comprehensive Analysis and Forecast, 2016 – 2021”. According to
the report, the epoxy resin
market accounted for USD 7.54 Billion in 2015 and is expected
to reach USD 11.22 Billion by 2021, growing at a CAGR of around 6.9% between
2016 and 2021.
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Epoxy resin is a thermosetting synthetic polymer having
properties such as adhesive strength, luster, and hardness. Epoxy resins
are available in the form of liquid as well as high viscosity solid. Epoxy
resins are segmented on the basis of applications such as follow-paints &
coatings, electrical & electronics, wind energy, construction, and
composites.
The paints & coatings industry is the largest market for
epoxy resins in terms of volume and revenue. The market penetration can be
attributed to demand from automotive, construction and industrial applications.
Epoxy resin-based paints and coatings are used in wall coatings of food storage
and manufacture, tank lining, swimming pools finishes, seal coats, wet rooms,
waterproofing and decorative finishes, and water treatment plants. Thus, the
growing paint & coating industry and the consequent demand for epoxy resins
is expected to drive the demand for epoxy resins within the forecast period.
Electrical and electronics segment accounted for 34.0% share of the total
global epoxy resin market in 2015, followed by paints and coatings. Composites
are expected to witness highest growth rate owing to increasing demand for high
strength lightweight composite materials from aerospace, automotive and defense
industries.
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In terms of geography, Asia-Pacific was the largest market
for epoxy resin in the world due to the increasing demand from paints &
coatings and electrical & electronics industries. In terms of revenue, Asia
Pacific accounted for the major chunk of the total epoxy resin market in 2015.
Increasing automotive demand coupled with rapid infrastructure development is
expected to grow the demand for epoxy resin from India during the forecast
period. Europe was the second-largest consumer of epoxy resin in 2015.
Moreover, Germany accounted for 30.0% market of the Europe epoxy resin market
in 2015 and is expected to grow with the highest rate in Europe.
Key players in the 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.
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This report segments the global epoxy resin market as
follows:
Global Epoxy Resin Market: Application Analysis
Global Epoxy Resin Market: Application Analysis
·
Paints and Coatings
·
Wind Energy
·
Composites
·
Construction
·
Electrical and
Electronics
·
Others
Global Epoxy Resin Market: Regional Segment Analysis
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
The Middle East and
Africa
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