Epoxy Resin Market worth $9.2 Billion by 2019
The report "Epoxy
Resin Market by Application (Paints & Coating, Wind Turbine, Composites,
Construction, Electrical & Electronics, Adhesives) and Geography - Trends
& forecasts to 2019", Published by MarketsandMarkets The global
market for epoxy resins was valued at $6.0 billion in 2013, and is projected to
reach $9.2 billion by 2019, growing at a CAGR of 7.4% between 2014 and 2019.
Browse 80 market data tables and 63 figures spread through
171 pages and in-depth TOC on " Epoxy
Resin Market - Global Trends & Forecasts to 2019"
Early buyers will receive 10%
customization on reports.
Epoxy resins are thermosetting polymers and known for their
high-quality performance in different industrial applications for corrosion
protection, thermal stability, mechanical strength, moisture resistivity,
adhesion, and so on. The epoxy resins market is very well correlated to its
end-user application industry’s growth and its widening reach in industrial
applications.
Bisphenol A and Epichlorohydrin are major raw materials in
the production of epoxy resins, and any change in the demand and supply of these
raw materials could have a major impact on the epoxy resin industry. However,
due to rising health concerns related to BPA, it is being substituted by other
chemical compounds such as bisphenol F in some applications. Although, paints
& coatings is the largest application of the resin, the growing demand of
the resin in the wind turbine application is expected to become the
fastest-growing market.
According to the estimates, the Asia-Pacific region led the
market for phthalic anhydride with 57.0% share by volume at the global level in
2013, followed by Europe (20.6%), North America (17.0%), and Rest of the World
(5.3%). Around 36.0% of the resin was estimated to be consumed for paints &
coatings in 2013. For electrical & electronics and construction applications,
the estimated share were 22.5% and 9.2% respectively.
The growth of the epoxy resin market has been studied
through in-depth analysis of important factors that drive the market such as
growth in the end-user industry, growing wind energy capacity installation with
opportunities in green and sustainable epoxies, and growing demand for it in
the aerospace industry. However, slow growth in the European and mature markets
of the U.S. and Japan are proving to be the important restraining factors for
the market.
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