Epoxy Resin Market Size,Share, Growth, Future Prospects, Competitive Analysis, and Forecast 2030

NEW YORK - Oct. 13, 2021 - PRLog -- According to ChemAnalyst report, "Epoxy Resin Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Regional Demand, 2015-2030", Epoxy Resin market has shown significant growth in 2020 as it reached 5.50 million tonnes in the Asia Pacific region and is projected to achieve an impressive global CAGR of 6.32% during the forecast period until 2030. Growing demand for high performance lightweight materials from major end-user industries including construction and automotive is expected to boost the demand for epoxy resins for the forecast period.

Epoxy resin is basically a thermosetting copolymer which is produced by the process of polymerization of epoxide and other monomers that contains hydroxyl group. Epoxy Resins are the widely used thermosets in structural and composites applications. Epoxy Resins possess versatile properties such as high mechanical strength, effective electrical insulation, Excellent adhesion, low shrinkage, and excellent resistance to chemicals and solvents. Due to their excellent properties, Epoxy Resins find its uses in numerous applications including paint and coatings, electronic devices, electrical insulators, adhesives, brush manufacturing, fiber-reinforced plastic materials, automotive parts and others.

Many industries including automotive, marine, aerospace and, others use epoxy coatings as primers for protection from corrosion. They are used as a protective coating in industrial flooring. The development in the construction industry plays a crucial role in the growth of Epoxy Resins market. Automotive industries are adopting high performance lightweight composite materials to meet the demand for advanced design and reduced vehicle weight. Furthermore, rising demand of Epoxy Resins in wind turbine blades, as they offer stronger mechanical performance, particularly tensile and flexural strength, will further augment the growth of global Epoxy Resin market worldwide in upcoming years.

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some of the major players operating in Epoxy Resin market include Olin Corporation, Huntsman Corporation, Nan Ya Plastics Corporation, Hexion Inc, Kukdo Chemical Co. Ltd., Aditya Birla Chemicals the 3M Company, Chang Chung Plastics Co. Ltd, BASF SE, Sinopec Corporation and Others.