Global Epoxy Resin Market to Reach USD 19,886.08 Million by 2031 | CAGR of 5.5%
Category : Materials And Chemicals | Published Date : Nov 2024 | Type : Press Release
Epoxy Resin Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Epoxy Resin Market size was valued at USD 13,013.33 million in 2023 and is projected to grow at a CAGR of 5.5%, reaching USD 19,886.08 million by 2031. Epoxy resins, a class of thermosetting polymers, are recognized for their superior adhesive strength, chemical resistance, and mechanical durability. These resins are used across industries such as aerospace, automotive, construction, and electrical & electronics for applications like coatings, adhesives, composites, and insulation.
The report comprises the Epoxy Resin Market Share, Size & Industry Analysis, based on Type (Aliphatic Epoxy Resin, Bisphenol Epoxy Resin, Novolac Epoxy Resin, Halogenated Epoxy Resin, Others), Application (Electronic Encapsulation, Paints & Coatings, Wind Turbines, Adhesives, Composites, Others), End-Use Industry (Aerospace, Automotive, Construction, Electrical & Electronics, Marine, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Epoxy Resin Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Segmental Analysis :
Based on type, the market is segmented into Aliphatic Epoxy Resin, Bisphenol Epoxy Resin, Novolac Epoxy Resin, Halogenated Epoxy Resin, and Others.
- The Bisphenol Epoxy Resin segment held the largest market share in 2023 and is also projected to grow at the fastest CAGR over the forecast period. Its superior mechanical properties, thermal stability, and chemical resistance drive its extensive use in coatings, adhesives, and composites.
Based on application, the market is categorized into Electronic Encapsulation, Paints & Coatings, Wind Turbines, Adhesives, Composites, and Others.
- The Paints & Coatings segment dominated the market in 2023, attributed to epoxy resins’ excellent adhesion, durability, and corrosion resistance, making them ideal for industrial and automotive applications.
- The Composites segment is expected to register the highest CAGR during the forecast period, fueled by increasing demand for lightweight, high-strength materials in aerospace, automotive, and construction industries.
Based on the end-use industry, the market is segmented into Aerospace, Automotive, Construction, Electrical & Electronics, Marine, and Others.
- The Electrical & Electronics segment accounted for the largest market share of 37.14% in 2023, driven by epoxy resins’ exceptional insulation properties and their extensive use in printed circuit boards and electronic component encapsulation.
- The Automotive segment is anticipated to grow at the fastest rate, supported by the rising demand for epoxy-based adhesives, coatings, and composites to enhance vehicle performance and durability.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
- Asia-Pacific: Held the largest market share in 2023 at 42.75%, valued at USD 5,563.20 million, driven by rapid industrialization and infrastructure development in China, India, and South Korea.
- North America: Expected to grow at the fastest CAGR of 6.1% over the forecast period, fueled by strong demand from the automotive, aerospace, and construction industries.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 19,886.08 Million |
| CAGR (2024-2031) | 5.5% |
| Type | Aliphatic Epoxy Resin, Bisphenol Epoxy Resin, Novolac Epoxy Resin, Halogenated Epoxy Resin, Others |
| Application | Electronic Encapsulation, Paints & Coatings, Wind Turbines, Adhesives, Composites, Others |
| End-Use Industry | Aerospace, Automotive, Construction, Electrical & Electronics, Marine, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Epoxy Resin Industry:
- China Petrochemical Corporation (Sinopec)
- Solvay
- Aditya Birla Management Corp. Pvt. Ltd.
- NAGASE & Co., Ltd.
- Kolon Industries, Inc.
- Kukdo Chemical Co., Ltd.
- Olin Corporation
- Sika AG
- Nan Ya Plastics Corporation
- Mitsubishi Chemical Group Corporation
Recent Industry Developments :
- 2024: DCM Shriram announced plans to establish an epoxy resin manufacturing plant in Gujarat, India, marking its entry into advanced materials production.
- 2024: Sinochem introduced a specialized epoxy resin for hydrogen storage tank applications, supporting advancements in hydrogen energy technologies.
