GLOBAL EPOXY RESINS MARKET FORECAST 2018-2026

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GLOBAL EPOXY RESINS MARKET FORECAST 2018-2026

The global epoxy resins market is anticipated to grow at a CAGR of 6.48% between 2018 and 2026. The base year considered for the market study is 2017, and the forecasted period is 2018-2026. Epoxy resins have displayed widespread effectiveness in various applications such as composites, adhesives, paints and coatings, construction material and others, owing to their chemical and physical properties such as excellent chemical resistance, low curing time, high flexibility and strength. The epoxy resin market is driven by several factors, such as:

GLOBAL EPOXY RESINS MARKET FORECAST 2018-2026

Global Epoxy Resins Market Is Segmented by Components (Epoxy, Hardeners) by Raw Materials (Bisphenol A, Bisphenol F, Phenolic Novolac, Epichlorohydrin) by Applications (Paints & Coatings, Electrical & Electronics, Construction, Adhesives, Wind Turbine, Composites) & by Geography

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The global epoxy resins market is anticipated to grow at a CAGR of 6.48% between 2018 and 2026. The base year considered for the market study is 2017, and the forecasted period is 2018-2026. Epoxy resins have displayed widespread effectiveness in various applications such as composites, adhesives, paints and coatings, construction material and others, owing to their chemical and physical properties such as excellent chemical resistance, low curing time, high flexibility and strength. The epoxy resin market is driven by several factors, such as:

  • Developing wind energy market
  • Increasing demand for epoxy resins from the aerospace industry
  • Growing paints and coating demand
  • Cumulative R&D initiatives by key market players
  • Growing popularity of thermosetting resins

However, the widening applications of Epoxy resins in numerous end-user industries, particularly in Aerospace, Paints & coatings, Wind Energy and rising demand from developing economies, are the two primary factors that are helping the market to advance at a significant growth rate.

In 2017, Paints and Coatings emerged as the largest application segment.  The paints and coatings industry is the largest consumer of epoxy resins. Epoxy resins are mostly used in chemical and special purpose coatings as they provide a thin layer coating with outstanding chemical resistance, durability, strong bond strength and adhesion, and also dry quickly. There are also special epoxy coating formulations that offer increased chemical resistance, increased temperature resistance, and the ability to be applied underwater. Epoxy resin coatings find application in buildings, automobiles, washing machines and appliances, containers, ships and bridges, pipelines and chemical plants, farm implements and floor coatings. Steel pipes or other steel products can also be coated with them.

Despite a number of growth drivers, the market is curtailed by several challenges, which includes fluctuating raw material prices & growing interest in alternative resins. Moreover, increasing awareness regarding health hazards associated with BPA-based products is another major factor which is hindering the growth of the epoxy resin market. Scientists and researchers examining the metabolic collapse of epoxy resins during occupational exposure discovered that the BPA from the epoxy resin products could be absorbed into the human body and can affect the endocrine and reproductive system.

The global epoxy resin market is segmented on the basis of components, raw materials & applications. Their further segmentation is as follows:-

Market by Components:

  • Epoxies
  • Hardeners

Market by Raw Materials:

  • Bisphenol A
  • Bisphenol F
  • Phenolic Novolac
  • Epichlorohydrin

Market by Applications:

  • Adhesives
  • Composites
  • Construction
  • Electrical & Electronics
  • Paints & Coatings
  • Wind Turbine
  • Others

Geographically, the global epoxy resin market has been segmented on the basis of four major regions, which include:

Geographically, Asia Pacific was the largest regional market in 2017. Most of the emerging economies are located in this region. Increasing industrialization and growing infrastructural development make it an attractive market. The APAC market is majorly driven by countries such as China, Japan, South Korea, India, Taiwan, Malaysia, Thailand, Indonesia, and the Philippines. Rapid infrastructure development and the growing demands of the automotive industry, coupled with the increase in population are expected to fuel the market for epoxy resins in the Asia-Pacific region. However, applications of epoxy resins in emerging economies of the Middle East, Africa and Latin America are expected to show high growth rate due to higher architectural glazing, greenhouse glazing, and noise-reducing walls for roads and train tracks.  Epoxy resins are used in rail joints, and track components as fiberglass reinforced cured epoxy composites provide optimum strength, stiffness, fatigue resistance and electrical insulation.

The major market players in the global epoxy resins market are:

  • 3M Company
  • BASF SE
  • Dow chemical company
  • Huntsman Corporation
  • Nan Ya Plastics Corp.
  • Aditya Birla Ltd.

Market share analysis of the key players along with company profiles of prominent companies are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, and new product launch, in order to gain a competitive edge over each other. For Instance, in September 2017, Dow Chemical and DuPont successfully completed their planned $130 billion merger with DowDuPont.

Key Findings of the Global Epoxy Resins Market:

  • Asia Pacific holds the largest revenue share of the overall epoxy resin market.
  • Composites are expected to be the fastest evolving segment
  • Aerospace & automotive industry to augment the demand for epoxy
  • Growing popularity of thermosetting resins is one of the key growth factors for the market.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC HOLDS THE LARGEST MARKET SHARE
      • COMPOSITES IS EXPECTED TO BE THE FASTEST EVOLVING SEGMENT
      • AEROSPACE & AUTOMOTIVE INDUSTRY TO AUGMENT THE DEMAND FOR EPOXY RESINS
      • GROWING POPULARITY OF THERMOSETTING RESINS
  1. MARKET DYNAMICS
    • MARKET DEFINITION AND SCOPE
    • MARKET DRIVERS
      • DEVELOPING WIND ENERGY MARKET
      • RISING DEMAND FOR EPOXY RESINS IN AEROSPACE INDUSTRY
      • GROWING PAINTS AND COATING DEMAND
      • CUMULATIVE R&D INITIATIVES BY KEY MARKET PLAYERS
    • MARKET RESTRAINTS
      • GROWING AWARENESS REGARDING HEALTH HAZARDS ASSOCIATED WITH BPA-BASED PRODUCTS
      • SLOW PROGRESS IN EUROPEAN, U.S. AND JAPAN MARKET
      • GROWING INTEREST IN ALTERNATIVE RESINS
    • MARKET OPPORTUNITIES
      • GROWING DEMAND FOR MODIFIED EPOXY RESINS
      • INCREASING DEMAND FROM EMERGING ECONOMIES
    • MARKET CHALLENGES
      • FLUCTUATING RAW MATERIAL PRICES
  1. MARKET BY COMPONENTS
    • EPOXY
    • HARDENERS
  2. MARKET BY RAW MATERIALS
    • BISPHENOL A
    • BISPHENOL F
    • PHENOLIC NOVOLAC
    • EPICHLOROHYDRIN
  3. MARKET BY APPLICATIONS
    • PAINTS & COATINGS
    • ELECTRICAL & ELECTRONICS
    • CONSTRUCTION
    • ADHESIVES
    • WIND TURBINE
    • COMPOSITES
    • OTHER APPLICATIONS
  4. KEY ANALYTICS
    • PORTER’S FIVE FORCE ANALYSIS
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND NORTH AFRICA
      • REST OF AFRICA
  1. COMPETITIVE LANDSCAPE
    • MARKET SHARE ANALYSIS
    • COMPANY PROFILES
      • 3M COMPANY
      • ADITYA BIRLA CHEMICALS LTD.
      • BASF SE
      • CHANG CHUN PLASTICS CO. LTD.
      • CYTEC INDUSTRIES INC
      • DOW CHEMICAL COMPANY
      • HEXION INC.
      • HUNTSMAN CORPORATION
      • JUBAIL CHEMICAL INDS. CO.
      • KUKDO CHEMICAL CO. LTD.
      • MOMENTIVE PERFORMANCE MATERIALS HOLDINGS LLC
      • NAN YA PLASTICS CORPORATION
      • OLIN CORPORATION
      • SINOPEC CORPORATION

 

LIST OF TABLES

TABLE 1: GLOBAL EPOXY RESINS MARKET, BY GEOGRAPHY, 2018-2026 (IN $ MILLION)

TABLE 2: COUNTRIES WITH OVER 4 GW OF TOTAL INSTALLED CAPACITY BY THE END OF JUNE 2015

TABLE 3: NEW HIGH-PERFORMANCE EPOXY PRODUCTS FOR AEROSPACE

TABLE 4: SERIOUS HEALTH RISKS LINKED TO BPA

TABLE 5: GLOBAL EPOXY RESINS MARKET, BY COMPONENTS, 2018-2026 (IN $ MILLION)

TABLE 6: GLOBAL EPOXIES MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 7: GLOBAL HARDENERS MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 8: GLOBAL EPOXY RESINS MARKET, BY RAW MATERIALS, 2018-2026 (IN $ MILLION)

TABLE 9: GLOBAL BISPHENOL A MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 10: GLOBAL BISPHENOL F MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 11: GLOBAL PHENOLIC NOVOLAC MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 12: GLOBAL EPICHLOROHYDRIN MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 13: GLOBAL EPOXY RESINS MARKET, BY APPLICATIONS, 2018-2026 (IN $ MILLION)

TABLE 14: COMPARISON OF DIFFERENT EPOXY RESINS USED FOR COATINGS

TABLE 15: EPOXY COATING COMPARISON CHART

TABLE 16: GLOBAL PAINTS & COATINGS MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 17: GLOBAL ELECTRICAL & ELECTRONICS MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 18: GLOBAL CONSTRUCTION MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 19: PRIMARY EPOXY RESIN TYPES USED IN ADHESIVES AND SEALANTS

TABLE 20: GLOBAL ADHESIVES MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 21: GLOBAL WIND TURBINE MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 22: GLOBAL COMPOSITES MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 23: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, 2018-2026 (IN $ MILLION)

TABLE 24: OPPORTUNITY MATRIX OF EPOXY RESINS MARKET

TABLE 25: VENDOR LANDSCAPE OF EPOXY RESINS MARKET

TABLE 26: GLOBAL EPOXY RESINS MARKET, BY GEOGRAPHY, 2018-2026, (IN $ MILLION)

TABLE 27: NORTH AMERICA EPOXY RESINS MARKET, BY COUNTRY, 2018-2026 (IN $ MILLION)

TABLE 28: NORTH AMERICA EPOXY RESINS MARKET, BY APPLICATIONS, 2018-2026 (IN $ MILLION)

TABLE 29: UNITED STATES EPOXY RESINS CAPACITY IN 2017 (‘000 TONNES/YEAR)

TABLE 30: WIND TURBINES MARKET BY THE NUMBERS IN CANADA (ONTARIO), 2015

TABLE 31: EUROPE EPOXY RESINS MARKET, BY COUNTRY, 2018-2026 (IN $ MILLION)

TABLE 32: EUROPE EPOXY RESINS MARKET, BY APPLICATIONS, 2018-2026 (IN $ MILLION)

TABLE 33: EUROPE EPOXY RESINS CAPACITY IN 2017 (‘000 TONNES/YEAR)

TABLE 34: ASIA PACIFIC EPOXY RESINS MARKET, BY COUNTRY, 2018-2026 (IN $ MILLION)

TABLE 35: ASIA PACIFIC EPOXY RESINS MARKET BY APPLICATIONS, 2018-2026 (IN $ MILLION)

TABLE 36: ASIA PACIFIC EPOXY RESINS CAPACITY (’000 TONNES/YEAR) IN 2017

TABLE 37: REST OF WORLD EPOXY RESINS MARKET, BY GEOGRAPHY, 2018-2026 (IN $ MILLION)

TABLE 38: REST OF WORLD EPOXY RESINS MARKET, BY APPLICATIONS, 2018-2026 (IN $ MILLION)

TABLE 39: MARKET SHARE ANALYSIS OF TOP PLAYERS IN 2017 (%)

LIST OF FIGURES

FIGURE 1: GLOBAL EPOXY RESINS MARKET BY APPLICATIONS, 2017 & 2026 (IN %)

FIGURE 2: REVENUE GENERATED BY COMPOSITES SEGMENT, 2017 & 2026, (IN $ MILLION)

FIGURE 3: ASIA PACIFIC EPOXY RESINS MARKET, 2018-2026, (IN $ MILLION)

FIGURE 4: WORLDWIDE ANNUAL INSTALLED WIND CAPACITY 2012-2015 (MW)

FIGURE 5: WIND TURBINES SPINNING AROUND THE WORLD 2012 & 2015

FIGURE 6: WORLDWIDE PAINTS & COATING MARKET, 2018-2026 (IN $ MILLIONS)

FIGURE 7: PAINTS AND COATINGS MARKET SHARE BY APPLICATIONS (%)

FIGURE 8: HUNTSMAN CORPORATION R&D INVESTMENT IN 2016

FIGURE 9: GLOBAL EPOXY RESINS MARKET, BY EPOXIES, 2018-2026 (IN $ MILLION)

FIGURE 10: GLOBAL EPOXY RESINS MARKET, BY HARDENERS, 2018-2026 (IN $ MILLION)

FIGURE 11: GLOBAL EPOXY RESINS MARKET, BY BISPHENOL A, 2018-2026 (IN $ MILLION)

FIGURE 12: GLOBAL EPOXY RESINS MARKET, BY BISPHENOL F, 2018-2026 (IN $ MILLION)

FIGURE 13: GLOBAL EPOXY RESINS MARKET, BY PHENOLIC NOVOLAC, 2018-2026 (IN $ MILLION)

FIGURE 14: GLOBAL EPOXY RESINS MARKET, BY EPICHLOROHYDRIN, 2018-2026 (IN $ MILLION)

FIGURE 15: GLOBAL EPOXY RESINS MARKET, BY PAINTS & COATINGS, 2018-2026 (IN $ MILLION)

FIGURE 16: GLOBAL EPOXY RESINS MARKET, BY ELECTRICAL & ELECTRONICS, 2018-2026 (IN $ MILLION)

FIGURE 17: GLOBAL EPOXY RESINS MARKET, BY CONSTRUCTION, 2018-2026 (IN $ MILLION)

FIGURE 18: GLOBAL EPOXY RESINS MARKET, BY ADHESIVES, 2018-2026 (IN $ MILLION)

FIGURE 19: GLOBAL EPOXY RESINS MARKET, BY WIND TURBINE, 2018-2026 (IN $ MILLION)

FIGURE 20: GLOBAL EPOXY RESINS MARKET, BY COMPOSITES, 2018-2026 (IN $ MILLION)

FIGURE 21: GLOBAL EPOXY RESINS MARKET BY OTHER APPLICATIONS, 2018-2026 (IN $ MILLION)

FIGURE 22: PORTER’S FIVE FORCE MODEL OF EPOXY RESINS MARKET

FIGURE 23: GLOBAL EPOXY RESINS MARKET, REGIONAL OUTLOOK, 2017 & 2026 (IN %)

FIGURE 24: GENERAL AVIATION AIRPLANE SHIPMENTS BY TYPE OF AIRPLANE, IN 2014

FIGURE 25: INSTALLED WIND POWER CAPACITY (MW), 2014-2015

FIGURE 26: AUTOMOTIVE PRODUCTION IN UNITED STATES, 2011-2016 (TILL Q2)

FIGURE 27: UNITED STATES EPOXY RESINS MARKET, 2018-2026 ($ MILLION)

FIGURE 28: CANADA EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 29: ANNUAL WIND POWER INSTALLATION IN EUROPE

FIGURE 30: THERMOSET EPOXY RESINS USED BY MARKET IN UK (2015)

FIGURE 31: UNITED KINGDOM EPOXY RESINS MARKET, 2018-2026 ($ MILLION)

FIGURE 32: FRANCE EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 33: ENERGY CAPACITY INSTALLED DURING 2015 (MW)

FIGURE 34: GERMANY EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 35: SPAIN EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 36: ITALY EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 37: REST OF EUROPE EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 38: WORLDWIDE EPOXY RESINS DEMAND, BY GEOGRAPHIES 2016

FIGURE 39: CHINA EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 40: JAPAN EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 41: CONSTRUCTION MARKET OPPORTUNITY ($ BILLION)

FIGURE 42: SECTORIAL DEMAND FOR EPOXY RESINS IN INDIA

FIGURE 43: INDIA EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 44: AUSTRALIA EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 45: REST OF ASIA PACIFIC EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 46: INSTALLED WIND POWER CAPACITY (MW) IN LATIN AMERICA 2014-2015

FIGURE 47: LATIN AMERICA EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 48: INSTALLED WIND POWER CAPACITY (MW) IN MENA 2014-2015

FIGURE 49: MIDDLE EAST AND AFRICA EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

FIGURE 50: INSTALLED WIND POWER CAPACITY (MW) IN SOUTH AFRICA 2014-2015

FIGURE 51: REST AFRICA EPOXY RESINS MARKET, 2018-2026 (IN $ MILLION)

  1. MARKET BY COMPONENTS
    • EPOXY
    • HARDENERS
  2. MARKET BY RAW MATERIALS
    • BISPHENOL A
    • BISPHENOL F
    • PHENOLIC NOVOLAC
    • EPICHLOROHYDRIN
  3. MARKET BY APPLICATIONS
    • PAINTS & COATINGS
    • ELECTRICAL & ELECTRONICS
    • CONSTRUCTION
    • ADHESIVES
    • WIND TURBINE
    • COMPOSITES
    • OTHER APPLICATIONS
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • FRANCE
      • GERMANY
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST AND NORTH AFRICA
      • REST OF AFRICA

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