Global Epoxy Resin Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Chemical and Material Date : March 6th, 2018
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The global epoxy resin market is expected to grow significantly from USD 7,861.2 million in 2017 to USD 12,181.8 million in 2024, at a CAGR of 6.46% from 2018 to 2024. The growth of the epoxy resin market across the globe is primarily driven by the growing demand for paints and coatings and growing use of epoxy-based composites. Additionally, increasing demand from emerging economies is further boosting the growth of the global epoxy resin market.

 The years used for the assessment are as follows;

  • Historical year: 2014, 2015, 2016
  • Base year: 2017
  • Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total epoxy resin market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the epoxy resin market
  • Finalizing the overall size and share of the global epoxy resin market

OBJECTIVES:

  • To classify the global epoxy resin  market into segments by type, application, end-use industries, and region, and analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers, and restraints associated with the epoxy resin  market
  • Profiling key companies operating in the global epoxy resin  market
  • To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE

Research scope for the global epoxy resin market is as follows:

By Type

  • DGBEA (Bisphenol A and ECH)
  • DGBEF (Bisphenol F and ECH)
  • Novolac (Formaldehyde and Phenols)
  • Aliphatic (Aliphatic Alcohols)
  • Glycidylamine (Aromatic Amines and ECH)
  • Others

By Application

  • Paints and Coatings
  • Adhesives and Sealants
  • Composites
  • Others

By End-Use industries

  • Building and Construction
  • Automotive
  • General Industrial
  • Consumer Goods
  • Wind Power
  • Aerospace
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa (MEA)

The global epoxy resin market was valued at USD 7,861.2 million in 2017, is expected to reach USD 12,181.8 million by 2024, growing at a CAGR of 6.46% from 2018 to 2024. The key factors driving the growth of the epoxy resin market include growing demand for paints and coatings and growing use of epoxy-based composites. Additionally,  increasing demand from emerging economies is further boosting the growth of the global epoxy resin market.

On the basis of type, DGBEA (Bisphenol A & ECH) segment was holding the largest market share for the global epoxy resin market in terms of value and volume in 2017 owing to its extensive use in automotive coatings. On the basis of application, paints and coatings segment held the major share of the global epoxy resin market in 2017 and is anticipated to dominate the market throughout the forecast period. Epoxy resins are widely used in paints and coatings as they are quick drying and provide a tough protective coating. Demand in the composite material is anticipated to be the fastest growing application of epoxy resins over the forecast period. The growing demand for lightweight material along with a superior performance from aviation and the automotive industry is expected to drive the growth of the application. On the basis of end-use industries, consumer goods were holding the largest share of the global epoxy resin market in 2017 as the products manufactured using epoxy resin are lightweight and durable.

Asia-Pacific was holding the largest share of the global epoxy resin market, in terms of value and volume in 2017 and is anticipated to lead the market, throughout the forecast period. Asia-Pacific is the leading producer and consumer of epoxy majorly owing to the development of infrastructure and flourishing automobile industry in the region. Additionally, rising demand for epoxy resin in paints and coatings is further expected to foster the demand for epoxy resin in Asia-Pacific. China accounted for the major share of Asia-Pacific’s epoxy resin market followed by India. Moreover, the Asia-Pacific epoxy resin market is forecasted to witness the highest growth, over the forecast period. North America was the second largest market for the epoxy resin. High demand for epoxy resin for automotive and marine coatings is driving the North American epoxy resin market. Moreover, increased production of wind turbines owing to the growing adoption of wind energy is expected to have a positive impact on epoxy resin market. The European epoxy resin market is mainly driven by coatings and composites demand from aircraft manufacturers. Additionally, the increasing demand for automobiles is further anticipated to boost the epoxy resin market in Europe.

Some of the leading players in global epoxy resin market include The 3M Company, Huntsman Corporation, Aditya Birla Chemicals, BASF SE, Sinopec Corporation, Olin Corporation, Kukdo Chemical Co. Ltd., Hexion Inc., Nan Ya Plastics Corporation, Chang Chun Plastics Co. Ltd among others.

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Market Definition

1.2. Market Segmentation

1.2.1. Market Breakdown, By Type

1.2.2. Market Breakdown, By Application

1.2.3. Market Breakdown, By End-Use Industries

1.2.4. Market Breakdown, By Region

1.3. Research Methodology

1.3.1. Initial Data Search

1.3.2. Secondary Research

1.3.3. Primary Research

1.3.4. Scope and Assumptions

1.4. Sources

1.5. Executive Summary

CHAPTER 2. Market Outlook

2.1. Introduction

2.2. Market Outlook

2.2.1. Opportunities

2.2.1.1. Need for Light Weight and Fuel Efficient Vehicles

2.2.1.2. Innovative Products in Industrial Applications

2.2.2. Trends

2.2.2.1. High Demand for Lightweight Composite Materials

2.2.2.2. Initiatives in Research and Development Activities by Key Market Players

2.2.3. Growth Drivers

2.2.3.1. Growing Demand for Paints and Coatings

2.2.3.2. Growing Use of Epoxy Based Composites

2.2.3.3. Increasing Demand from Emerging Economies

2.2.4. Impact Analysis of Drivers on Future Forecast of the Market

2.2.5. Restraints of the Market

2.2.5.1. Volatile Raw Material Prices

2.2.6. Impact Analysis of Restraints on Future Forecast of the Market

CHAPTER 3. Market Entry Strategy

3.1. PESTLE Analysis

3.2. Value Chain Analysis

3.3. Competitive Analysis

3.3.1. Company Market Share Analysis

3.3.2. Porter’s Five Forces Analysis

CHAPTER 4. Global Epoxy Resin Market Size and Forecast (2014 – 2024)

4.1. Global Epoxy Resin Market, By Type

4.1.1. DGBEA

4.1.2. DGBEF

4.1.3. Novolac

4.1.4. Aliphatic

4.1.5. Glycidylamine

4.1.6. Others

4.2. Global Epoxy Resin Market, By Application

4.2.1. Paints and Coatings

4.2.2. Adhesives and Sealants

4.2.3. Compo sites

4.2.4. Others

4.3. Global Epoxy Resin Market, By End-Use Industries

4.3.1. Building and Construction

4.3.2. Automotive

4.3.3. General Industrial

4.3.4. Consumer Goods

4.3.5. Wind Power

4.3.6. Aerospace

4.3.7. Others

4.4. Global Epoxy Resin Market, By Region

4.4.1. North America

4.4.2. Europe

4.4.3. Asia-Pacific

4.4.4. South America

4.4.5. Middle East & Africa (MEA)

CHAPTER 5. Global Epoxy Resin Market, By Geography

5.1. North America Epoxy Resin Market

5.1.1. North America Epoxy Resin Market, By Type (Kilo Tons)

5.1.2. North America Epoxy Resin Market, By Type (USD Million)

5.1.3. North America Epoxy Resin Market, By Application (Kilo Tons)

5.1.4. North America Epoxy Resin Market, By Application (USD Million)

5.1.5. North America Epoxy Resin Market, By Country

5.1.5.1. The U.S.

5.1.5.1.1. U.S. Epoxy Resin Market Size (Kilo Tons)

5.1.5.1.2. U.S. Epoxy Resin Market Size (USD Million)

5.1.5.2. Canada

5.1.5.2.1. Canada Epoxy Resin Market Size (Kilo Tons)

5.1.5.2.2. Canada Epoxy Resin Market Size (USD Million)

5.1.5.3. Mexico

5.1.5.3.1. Mexico Epoxy Resin Market Size (Kilo Tons)

5.1.5.3.2. Mexico Epoxy Resin Market Size (USD Million)

5.2. Europe Epoxy Resin Market

5.2.1. Europe Epoxy Resin Market, By Type (Kilo Tons)

5.2.2. Europe Epoxy Resin Market, By Type (USD Million)

5.2.3. Europe Epoxy Resin Market, By Application (Kilo Tons)

5.2.4. Europe Epoxy Resin Market, By Application (USD Million)

5.2.5. Europe Epoxy Resin Market, By Country

5.2.5.1. Germany

5.2.5.1.1. Germany Epoxy Resin Market Size (Kilo Tons)

5.2.5.1.2. Germany Epoxy Resin Market Size (USD Million)

5.2.5.2. France

5.2.5.2.1. France Epoxy Resin Market Size (Kilo Tons)

5.2.5.2.2. France Epoxy Resin Market Size (USD Million)

5.2.5.3. The U.K.

5.2.5.3.1. U.K. Epoxy Resin Market Size (Kilo Tons)

5.2.5.3.2. U.K. Epoxy Resin Market Size (USD Million)

5.2.5.4. Italy

5.2.5.4.1. Italy Epoxy Resin Market Size (Kilo Tons)

5.2.5.4.2. Italy Epoxy Resin Market Size (USD Million)

5.2.5.5. Spain

5.2.5.5.1. Spain Epoxy Resin Market Size (Kilo Tons)

5.2.5.5.2. Spain Epoxy Resin Market Size (USD Million)

5.2.5.6. Russia

5.2.5.6.1. Russia Epoxy Resin Market Size (Kilo Tons)

5.2.5.6.2. Russia Epoxy Resin Market Size (USD Million)

5.2.5.7. Rest of Europe

5.2.5.7.1. Rest of Europe Epoxy Resin Market Size (Kilo Tons)

5.2.5.7.2. Rest of Europe Epoxy Resin Market Size (USD Million)

5.3. Asia-Pacific Epoxy Resin Market

5.3.1. Asia-Pacific Epoxy Resin Market, By Type (Kilo Tons)

5.3.2. Asia-Pacific Epoxy Resin Market, By Type (USD Million)

5.3.3. Asia-Pacific Epoxy Resin Market, By Application (Kilo Tons)

5.3.4. Asia-Pacific Epoxy Resin Market, By Application (USD Million)

5.3.3. Asia-Pacific Epoxy Resin Market, By Country

5.3.4.1. China

5.3.4.1.1. China Epoxy Resin Market Size (Kilo Tons)

5.3.4.1.2. China Epoxy Resin Market Size (USD Million)

5.3.4.2. Japan

5.3.4.2.1. Japan Epoxy Resin Market Size (Kilo Tons)

5.3.4.2.2. Japan Epoxy Resin Market Size (USD Million)

5.3.4.3. India

5.3.4.3.1. India Epoxy Resin Market Size (Kilo Tons)

5.3.4.3.2. India Epoxy Resin Market Size (USD Million)

5.3.4.4. South Korea

5.3.4.4.1. South Korea Epoxy Resin Market Size (Kilo Tons)

5.3.4.4.2. South Korea Epoxy Resin Market Size (USD Million)

5.3.4.5. Taiwan

5.3.4.5.1. Taiwan Epoxy Resin Market Size (Kilo Tons)

5.3.4.5.2. Taiwan Epoxy Resin Market Size (USD Million)

5.3.4.6. Indonesia

5.3.4.6.1. Indonesia Epoxy Resin Market Size (Kilo Tons)

5.3.4.6.2. Indonesia Epoxy Resin Market Size (USD Million)

5.3.4.7. Rest of Asia-Pacific

5.3.4.7.1. Rest of Asia-Pacific Epoxy Resin Market Size (Kilo Tons)

5.3.4.7.2. Rest of Asia-Pacific Epoxy Resin Market Size (USD Million)

5.4. South America Epoxy Resin Market

5.4.1. South America Epoxy Resin Market, By Type (Kilo Tons)

5.4.2. South America Epoxy Resin Market, By Type (USD Million)

5.4.3. South America Epoxy Resin Market, By Application (Kilo Tons)

5.4.4. South America Epoxy Resin Market, By Application (USD Million)

5.4.5. South America Epoxy Resin Market, By Country

5.4.5.1. Brazil

5.4.5.1.1. Brazil Epoxy Resin Market Size (Kilo Tons)

5.4.5.1.2. Brazil Epoxy Resin Market Size (USD Million)

5.4.5.2. Argentina

5.4.5.2.1. Argentina Epoxy Resin Market Size (Kilo Tons)

5.4.5.2.2. Argentina Epoxy Resin Market Size (USD Million)

5.4.5.3. Rest of South America

5.4.5.3.1. Rest of South America Epoxy Resin Market Size (Kilo Tons)

5.4.5.3.2. Rest of South America Epoxy Resin Market Size (USD Million)

5.5. Middle East & Africa (MEA) Epoxy Resin Market

5.5.1. Middle East & Africa (MEA) Epoxy Resin Market, By Type (Kilo Tons)

5.5.2. Middle East & Africa (MEA) Epoxy Resin Market, By Type (USD Million)

5.5.3. Middle East & Africa (MEA) Epoxy Resin Market, By Application (Kilo Tons)

5.5.4. Middle East & Africa (MEA) Epoxy Resin Market, By Application (USD Million)

5.5.5. Middle East & Africa (MEA) Epoxy Resin Market, By Country

5.5.5.1. Saudi Arabia

5.5.5.1.1. Saudi Arabia Epoxy Resin Market Size (Kilo Tons)

5.5.5.1.2. Saudi Arabia Epoxy Resin Market Size (USD Million)

5.5.5.2. South Africa

5.5.5.2.1. South Africa Epoxy Resin Market Size (Kilo Tons)

5.5.5.2.2. South Africa Epoxy Resin Market Size (USD Million)

5.5.5.3. Rest of MEA

5.5.5.3.1. Rest of MEA Epoxy Resin Market Size (Kilo Tons)

5.5.5.3.2. Rest of MEA Epoxy Resin Market Size (USD Million)

CHAPTER 6. Key Players and Strategic Developments

6.1. The 3M Company

6.1.1. Business Overview

6.1.2. Product and Service Offering

6.1.3. Financial Overview

6.1.4. SWOT Analysis

6.1.5. Strategic Developments

6.2. Huntsman Corporation

6.2.1. Business Overview

6.2.2. Product and Service Offering

6.2.3. Financial Overview

6.2.4. SWOT Analysis

6.2.5. Strategic Developments

6.3. Aditya Birla Chemicals

6.3.1. Business Overview

6.3.2. Product and Service Offering

6.3.3. Financial Overview

6.3.4. SWOT Analysis

6.3.5. Strategic Developments

6.4. BASF SE

6.4.1. Business Overview

6.4.2. Product and Service Offering

6.4.3. Financial Overview

6.4.4. SWOT Analysis

6.4.5. Strategic Developments

6.5. Sinopec Corporation

6.5.1. Business Overview

6.5.2. Product and Service Offering

6.5.3. Financial Overview

6.5.4. SWOT Analysis

6.5.5. Strategic Developments

6.6. Olin Corporation

6.6.1. Business Overview

6.6.2. Product and Service Offering

6.6.3. Financial Overview

6.6.4. SWOT Analysis

6.6.5. Strategic Developments

6.7. Kukdo Chemical Co. Ltd.

6.7.1. Business Overview

6.7.2. Product and Service Offering

6.7.3. Financial Overview

6.7.4. SWOT Analysis

6.7.5. Strategic Developments

6.8. Hexion Inc.

6.8.1. Business Overview

6.8.2. Product and Service Offering

6.8.3. Financial Overview

6.8.4. SWOT Analysis

6.8.5. Strategic Developments

6.9. Nan Ya Plastics Corporation

6.9.1. Business Overview

6.9.2. Product and Service Offering

6.9.3. Financial Overview

6.9.4. SWOT Analysis

6.9.5. Strategic Developments

6.10. Chang Chun Plastics Co. Ltd

6.10.1. Business Overview

6.10.2. Product and Service Offering

6.10.3. Financial Overview

6.10.4. SWOT Analysis

6.10.5. Strategic Developments

6.11. Abbreviations

Global Epoxy Resin Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation Forecast 2024