Epoxy Resin Market to Grow at a CAGR of 4.05% during the forecast period 2030 | ChemAnalyst

NEW CITY, N.Y. - Dec. 7, 2022 - PRLog -- According to ChemAnalyst report, "Global Epoxy Resin Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Grade, Type, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030", The Epoxy Resin market is likely to experience a significant increase by reaching 5000 thousand tonnes in 2030, at a CAGR of 4.05% in the upcoming years. In the upcoming years, the market for Epoxy Resin is anticipated to grow due to rising demand from end-use industries such as Paints & Coatings, Electrical & Electronics, Construction, Composite Materials, Adhesives, and Others.

Epoxy Resin is a thermosetting polymer with excellent bind adhesion strength. These resins possess properties such as corrosion resistance, high thermal stability, high mechanical strength, high chemical and environmental resistance, and high durability. These resins are widely employed as adhesives and find applications in numerous industries. Some of these  industries are building & construction sector, solar cells, electronic appliances, and spacecraft sector.

Moreover, globally, the increase in demand for Epoxy Resin is majorly due to their properties. Epoxy resins are versatile resins with many applications. It is widely used as an adhesive for applications in the construction and automobiles. The market for Epoxy Resins is anticipated to be driven by rising demand for lightweight, high-performance materials from the construction and automotive industries owing to rapid urbanization. Furthermore, they are heavily used in the Paints & Coatings sector, which is anticipated to rise. Owing to the urbanization, the requirement of paints, coatings, varnishes, and adhesives is bound to rise, anticipated to swell the Epoxy Resin market. Moreover, its application as a sealant in solar cells and space craft parts is expected to expand the market by 2030.

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The Epoxy Resin market is segmented based on type, grade, end-use, sales channel, and region. Based on type, the Epoxy Resin market is segregated into Bisphenol A Based Resin, Bisphenol F Based Resin, Epoxy Phenol Novolac Based Resin, Cycloaliphatic Epoxy Based Resin, and Others. Bisphenol A Based Resins are driving the market growth and mostly employed for manufacturing polycarbonate plastic.

Major Player are Olin Coporation, Nan Ya Plastics Co Ltd, Jiangsu Sanmu Group, Kukdo Chemical Co., Ltd., Hexion Inc., Kumho P&B Chemicals, Huntsman Corporation, Nantong Xincheng Synthetic Material Co Ltd, Zhuhai Hongchang Electronic Material Co Ltd, Jiangsu Yangnong Kumho Chemical Co., Ltd., Sinopec Baling Petrochemical Co., Ltd, and NAMA Chemicals.