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Epoxy Resin Market | CMI PR

Epoxy resin is a polymer produced by copolymerization of an epoxide with a compound that consists of two hydroxyl groups. Epoxy resin is high-performance resins that have excellent properties such as high thermal stability, resistance to corrosion, high mechanical strength, durability, and superior adhesion. Epoxy resin is majorly used across adhesive, paints &coatings, and electronic encapsulation applications.

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Epoxy Resin Market | CMI PR

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ EPOXY RESIN MARKET ANALYSIS

  2. EPOXY RESIN MARKET ANALYSIS • Epoxy Resin Market, By Application (Paints & Coatings, Wind Energy, Composites, Construction, Electrical & Electronics, Adhesives, Others), and By Region (North America, Europe, Asia Pacific, Rest of the World) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  3. Figure 1. Global Epoxy Resins Market, Revenue Share (%), By Region, 2019

  4. Epoxy resin is a polymer produced by copolymerization of an epoxide with a compound that consists of two hydroxyl groups. Epoxy resin is high-performance resins that have excellent properties such as high thermal stability, resistance to corrosion, high mechanical strength, durability, and superior adhesion. Epoxy resin is majorly used across adhesive, paints &coatings, and electronic encapsulation applications. • The global epoxy resins market is projected to surpass US$ 5,834.41 million by the end of 2027, in terms of revenue, growing at CAGR of 6.6% during the forecast period (2020 to 2027). • Drivers • Growing demand for paints &coating is a prime factor fueling the market growth of the epoxy resin. Epoxy resin-based products exhibit quick dry property and provide excellent coatings for the construction industry. Epoxy resin-based paints are widely used across concrete floor paint, floor paint, and epoxy primers. They prevent corrosion and rust on the surfaces. These coatings are used in primers for improving adhesion of automotive and marine components. Thus, growing demand for paints &coatings is expected to foster the market growth of the epoxy resins. • Regionally, Asia-pacific dominated the global epoxy resins market in 2019, reporting 62% market share in terms of revenue, followed by Europe and North America, respectively.

  5. Market Restraints • Health hazards associated with the epoxy resin flooring as they release strong and toxic fumes that may cause irritation in the lungs and eyes are restricting the market growth. Moreover, exposure to these fumes may cause breathing problems in asthmatic people. This factor is expected to hinder the market growth of epoxy resins. • Market Opportunities • Increasing use of wind turbines for power generation due to growing concern over the depleting of conventional sources is projected to offer potential opportunities in the market. Also, the growing use of epoxy resins in ship repairs and maintenance of various components such as decks, ballast tanks, topsides, underwater hulls, superstructures, and cargo tanks is again propelling the market growth. Moreover, increasing demand for efficient commercial and military aircraft are further projected to propel the market growth of epoxy resins over the forecast period.

  6. Figure 2. Global Epoxy Resins Market – Opportunity Analysis

  7. Market Trends • Shifting preferences of the manufacturer towards increasing production capacity of modifiers for epoxy resins is expected to escalate the market growth. For instance, in February 2019, Kaneka Corporation has announced its plan to expand the production facilities of the modifiers for epoxy resins in Takasago Manufacturing Site. Kaneka intends to expand its business by doubling its production capacity with the investment of around 1.6 billion yen. • On the basis of application, paints and coatings the global epoxy resins market in 2019 with around 42% of market share in terms of revenue, followed by electronics & electrical and adhesives, respectively.

  8. Figure 3. Global Epoxy Resins Market, Revenue Share (%), By Application, in 2019

  9. Global Epoxy Resins Market - Impact of Coronavirus (Covid-19) Pandemic • Mining industry, which is responsible for supply of key raw materials to several end-use industries across the globe, has severe economic repercussions owing to Coronavirus (Covid-19) Pandemic. Also, the demand for epoxy resins depend faced hindrance amidst of the ongoing pandemic outbreak as the epoxy resins are widely used in the automobile sector, paint and coating sector and other industries and all this market are widely hindered due to the ongoing pandemic. This is expected to hamper the growth of epoxy Resins Market for short period till end quarter of 2020. • Competitive Section • Key players are operating in the global epoxy Resins Market are BASF SE, Huntsman Corporation, The Dow Chemical Company, 3M Company, DuPont, Aditya Birla Chemicals Ltd (Thailand), Momentive Specialty Chemicals Inc, Nan Ya Plastics Corporation, Kukdo Chemical Ltd., NAMA Chemicals • Few Recent Developments • In August 2018, BASF and Gustav Grolman GmbH & Co. KG enters into partnership in Europe for the marketing of amine-based curing agents for the professional processing of epoxy resins. • In July 2019, Aditya Birla Chemicals Thailand Limited announced the acquisition of Recyclamine Technology from Chemical Technology startupConnora Technologies. Connora Technologies is the manufacturer of recyclable epoxy resin technology, based on a novel proprietary polyamine synthesis platform called Recyclamine.

  10. Figure 4. Global Epoxy Resins Market – Value Chain Analysis

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