Global Epoxy Resin Market size is registering growth with a CAGR of 7.18% during 2019-2025
SOUTHLAKE, TX, UNITED STATES, September 20, 2019 /EINPresswire.com/ — The 2019 Epoxy Resin Market outlook through 2025 presented by OG Analysis is a framework of current and future market dynamics. Growing adaption of Epoxy Resins to replace metal and wood in industrial applications, strong industrial moulds, castings, fixtures with advantages of increased heat resistance and prolong usage impacts positively on market growth.
Over the forecast period the market witnesses a glitch owing to halt of supply from Asia Pacific being a key supplier of epoxy resins. As a result, the market growth faced a short coming over supply of epoxy resins across distinctive end-users ranging from to auto and transport manufacturers, electronic OEMs to construction and industrial sector.
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Stringent regulations over safety and environmental awareness are negatively impacting the market growth. In order to meet the regulations of low emission, modified epoxy resins with low VOC and high performing bio based epoxy resins are emerging as strong market trends.
Key players are filing patents to introduce eco friendly and fulfilling the need to improve productivity and reduce costs while maintaining high coating performance for transportation industry as well as protective coatings for metal and non-metal substrates, and flooring.
Waterborne epoxy resins emerges as a key market share holder
Waterborne epoxy resins consumption continues strongly across U.S, Germany, South Korea, Japan, U.K. and Russia. To meet the high demand of waterborne epoxy resins with customer requirements, key players are introducing diverse product portfolio with advantages of superior corrosion resistance coatings. For instance, the 2018 waterborne epoxy resin and curing products introduced by Hexion Inc. offers diverse portfolio of waterborne epoxy resin and curing agents.
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Strong demand from key end users leverage epoxy resins market growth
Epoxy resins are multi resource super strong, lightweight and are witnessing strong demand by aircraft OEMs and automotive manufacturers. Key vendors of Epoxy resin market are introducing high temperature resistant coatings for aircraft, wind turbine blades, consumer electronics and automotive.
Accordingly, in January 2019 Sun Chemical launched EPICLON HP 4770, a multi-functional naphthalene epoxy resin for formulators and engineers in the aerospace, transportation and electronics industry who seek to increase high-temperature resistant performance. On similar lines, Hexion Inc developed a two-component (2K) system for increased composite aerostructure production on its Epikote System 600 epoxy resin in 2019.
Further, increase in the global electronics production drives the consumption of epoxy resin with major demand from consumer electronics sector. The electronic and electrical OEMs are mainly contributing for vast use of epoxy resins to encapsulate hybrid circuits in electronic and digital devices.
Key players of epoxy resin market include DowDuPont, BASF SE, 3M, Huntsman Corporation, Hexion Inc. Aditya Birla Chemicals, Covestro and Sika AG.
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Upcoming market drivers and emerging market trends across key regions
Asian countries are expected to witness high growth rate and a high demand for epoxy resin until 2025, driven by the electronics, construction, and automobiles sectors.
Asia Pacific is currently experiencing strong growth over industrialization and rise in the paints and coatings producers across the region. Further, major market players are investing in setting up resin manufacturing facilities. For instance, in 2019, Arkema inaugurated a new first-class polyester resin manufacturing facility in India to offer reliable supply high-performance, low-VOC powder coating products across the regional epoxy resin formulators.
However, the former incident of shut down of epoxy resin plants over safety regulations alarmed the market players across Asian, Europe and U.S. during the early period of 2019.
Furthermore, the large consumption of epoxy resins across North America and Europe drives epoxy resin market growth across aerospace, automotive and construction sectors.
Roof coatings are the fastest growing applications across North American industry and to seek this market opportunity key players are offering effective epoxy resin coatings for roofing membrane. For example, Arkema introduced a number of new resin products, such as ENCOR Flex 192 Resin for use in primer-free elastomeric roof coatings.
• Waterborne Epoxy Resin Market (https://www.oganalysis.com/industry-reports/212689/waterborne-epoxy-resin-market)
• Flexible Epoxy Resin Market (https://www.oganalysis.com/industry-reports/211568/flexible-epoxy-resin-market)
• Paints and Coatings Market (https://www.oganalysis.com/industry-reports/211735/paints-and-coatings-market)
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Source: EIN Presswire