Epoxy Resin Market by Type (Aliphatic Epoxy Resin, Bisphenol Epoxy Resin, Glycidylamine Epoxy Resin), Physical Form (Liquid, Solid), Source, Application, End-Use - Global Forecast 2024-2030

Epoxy Resin Market by Type (Aliphatic Epoxy Resin, Bisphenol Epoxy Resin, Glycidylamine Epoxy Resin), Physical Form (Liquid, Solid), Source, Application, End-Use - Global Forecast 2024-2030

The Epoxy Resin Market size was estimated at USD 11.85 billion in 2023 and expected to reach USD 12.65 billion in 2024, at a CAGR 6.76% to reach USD 18.74 billion by 2030.

Epoxy resin is a class of synthetic thermosetting polymers containing epoxide groups widely used in various applications due to its superior properties, such as high mechanical strength, durability, and chemical resistance. Several factors fuel the growth of the epoxy resin market, including increasing demand in automotive, aerospace, and wind energy industries due to the material’s strength, durability, and lightweight nature. Additionally, there is growth in renewable energy installations, particularly wind turbines, which extensively use epoxy resins for blades and other components. The development of the epoxy resin market faces several limitations and challenges, such as volatility of raw material prices, stringent environmental regulations, and sensitivity to external conditions. However, the development of bio-based epoxy resins as a response to increasing environmental concerns and regulations has created new opportunities across the market. At the same time, the exploration of new applications in 3D printing technologies and investment in R&D for epoxy resin systems with enhanced properties, such as improved thermal and chemical resistance for high-performance applications, are helping to develop new products across the market.

Regional Insights

The Americas, particularly the United States and Brazil, have a robust market for epoxy resin, driven largely by the aerospace, automotive, and construction industries. In North America, advancements in lightweight and fuel-efficient vehicles are driving demand for high-performance materials, including epoxy resins. Additionally, there is a growing emphasis on renewable energy, particularly wind energy, which utilizes large quantities of epoxy resins to produce wind turbine blades. The Latin American market is also experiencing growth, albeit from a smaller base, with increased demand in the construction and manufacturing sectors. The EMEA region showcases a diverse market landscape where Europe is at the forefront of consumption due to its robust manufacturing base, particularly in Germany, France, and the UK. The region's focus on sustainability and the circular economy is fostering innovations in bio-based epoxy resins. The Middle East, particularly in the GCC countries, presents significant potential for epoxy resin applications in paints and coatings with its growing construction sector. Africa shows emergence in construction and wind energy sectors, driven by infrastructure development and renewable energy projects. The Asia-Pacific region experienced substantial growth in the global epoxy resin market, driven by rapid industrialization and the expansion of manufacturing sectors in China, India, South Korea, and Japan. China is a major consumer and producer of epoxy resins, fueled by its vast electronics, automotive, and construction industries. The region is witnessing significant investments in renewable energy sources, notably wind and solar, which further propels the demand for epoxy resins. Moreover, the surging adoption of lightweight materials in vehicles and advancements in technology across the APAC region is expected to sustain the high growth rate of the epoxy resin market.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Epoxy Resin Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing preference for durable and lightweight materials in automobiles
    • Increasing construction spending globally with urbanization
    • Market Restraints
      • Fluctuating price of raw materials used in epoxy resin
      • Market Opportunities
        • Continuous development of biobased epoxy resins
        • Emerging trend of epoxy resin arts with the increasing influence of social media
        • Market Challenges
          • Environmental issues related to the production and use of epoxy resins
          • Market Segmentation Analysis
            • Type: Burgeoning adoption of bisphenol epoxy resins due to their high chemical resistance and mechanical properties
            • Physical Form: Proliferating usage of liquid epoxy resins owing to their easy application and mixing with hardeners and other additives
            • Source: Emerging utilization of natural sources of epoxy resins
            • Application: Increasing demand of epoxy resin across composites due to its corrosion resistance and design flexibility properties
            • End-Use: Evolving usage of epoxy resins in the automotive and transportation industry
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Epoxy Resin Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Epoxy Resin Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Scott Bader Partners with Bodotex for South Africa, Denmark Distribution
              
              Scott Bader, a distinguished epoxy resin products manufacturer, forged a strategic distribution partnership with Bodotex to enhance the accessibility of Scott Bader's premium product lineup, including Texicryl acrylic dispersions, Crestabond structural adhesives, Crystic resins, and gel coats, and Crestamould matched tooling systems, in the Garden Route and Eastern Cape of South Africa as well as in Denmark. The partnership aims to deliver unparalleled services and technical support to customers within these regions by leveraging Bodotex's vast local distribution network and its seasoned expertise.
              
              BASF Completes its Capacity Expansion for Key Specialty Amines in The Americas
              
              BASF successfully concluded an expansion of its production capacity in the Americas. This significant enhancement underscores BASF's commitment to strengthening its market position and ensuring a reliable supply of components for producing epoxy resins, among other applications.
              
              Nan Ya Plastics Unveils State-of-the-Art Bisphenol A Production Line in Ningbo
              
              Nan Ya Plastics launched an advanced Bisphenol A production line in Ningbo, marking a considerable expansion in its manufacturing capabilities. This state-of-the-art facility is poised to elevate Nan Ya Plastics' position within the global epoxy resin market, showcasing a strategic move to meet the escalating demand for high-quality epoxy resins.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Epoxy Resin Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Epoxy Resin Market, highlighting leading vendors and their innovative profiles. These include 3M Company, A. B. Enterprises, Aditya Birla Group, ALTANA AG, Ashland Inc., Atul Ltd., Candorr International, Chang Chun Group, Chevron Phillips Chemical Company LLC, Chimcomplex SA, China Petrochemical Corporation, Corrosol Industries, Covestro AG, Daicel Corporation, DIC Corporation, Dongke Group, Epic Resins, Henkel AG & Co. KGaA, Huntsman Corporation, INEOS AG, Kolon Industries, Inc., Kukdo Chemical Co., Ltd., MACRO POLYMERS PVT. LTD., Mapei Spa, Merck KGaA, Mitsubishi Chemical Group Corporation, Mitsui Chemicals, Inc., Nagase & Co., Ltd., Nama Chemicals Company, Nan Ya Plastics Corporation, Olin Corporation, Parker-Hannifin Corporation, Purolite Corporation by Ecolab Inc., Resintech Limited, Samrat Chemical Industries, Sika AG, Sinochem Holdings Corporation Ltd., Sumitomo Bakelite Co., Ltd., Synpol Products Private Limited, The Dow Chemical Company, Vizag Chemical International, and Westlake Corporation.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Epoxy Resin Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Type
              • Aliphatic Epoxy Resin
              • Bisphenol Epoxy Resin
              • Glycidylamine Epoxy Resin
              • Novolac Epoxy Resin
              • Physical Form
                • Liquid
                • Solid
                • Source
                  • Natural Sources
                  • Petroleum-Based Sources
                  • Application
                    • Adhesives & Sealants
                    • Composites
                    • Paints & Coatings
                    • End-Use
                      • Aerospace
                      • Automotive & Transportation
                      • Building & Construction
                      • Consumer Goods
                      • Energy & Utility
                      • Manufacturing
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year