Epoxy resin market
Epoxy resins are thermosetting polymers available in liquid, solution, and solid form. Solid epoxy resins are nonhazardous material but liquid epoxy resins are classified as hazardous.
The majority of epoxy resins are derived from petroleum and are well known for their curable nature.They are used as binders in cement and mortars, general purpose adhesives, industrial coatings, rigid foams, non-skid coatings, solidifying sandy surfaces in oil drilling, potting and encapsulating media.
On the basis of application epoxy resins segmented as; paints & coatings, electrical & electronics, construction, wind turbine, composites, adhesive and others. Paints & coatings accounted for around 42% of the global epoxy resin market. Construction industry accounted for the third-largest share of the epoxy resin market in 2015 and is expected to grow even more in the future.
The epoxy resin market accounted for USD 7.54 Billion in 2015 and is expected to reach USD 11.22 Billion by 2021, growing at a CAGR of around 6.9%.
The Asia Pacific was the dominant region in 2015, accounting for more than 63% of the market. Germany is the main epoxy resin market in Europe, accounting for about 30% of the European market in 2015.
High growth in end-user industries is the main driver for the epoxy resin market. The increasing use of wind turbines for power generation is driving force for epoxy resin in North America and this is expected to grow at a moderate rate to 2021.
However, the availability of phenolic resins and polyurethane as alternatives in various applications as well as fluctuations in raw material prices is expected to restrict market growth.
The key players in the market include; Huntsman Corporation, Dow Chemical Company, Momentive Specialty Chemicals Inc., Nan Ya Plastic Corporation, Sika AG, Kukdo Chemical Co. Ltd., Ashland Inc., Cytec, NAMA Chemicals, 3M Company, Du Pont, BASF SE, Baling Petrochemical and Spol Chemie.
[edit] Find out more
[edit] Related articles on Designing Buildings Wiki
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
Rethinking passive fire protection in design
PFP demands the same level of design rigour as structure or services.
38% of Gen Zs feel safe when a fire door is wedged open.
Stunning images from around the world
Shortlist for CIOB’s Art of Building photography competition.
Guidance for conversion of traditional pre-1919 stone buildings.
Industrial heritage in the Ruhr
A marked difference to the fate of industrial landscapes in the UK.
Communities will be able to build their own clean energy.
Why diversity and inclusion matters for SMEs
CIOB’s D&I Charter shows how practical changes can support long-term growth.
Cut electricity bills to power growth
Coalition sends joint letter to the Chancellor.
Gasholders: a history in pictures. Book review.
Recognition, influence and growth
SocEnv identifies three strategic pillars in new strategy to 2045.
Discover the future of roofing, cladding and insulation.
New guidance for professional practice, cultural change and regulation in social housing.