Market Research Future (MRFR) recognizes the following companies as the prominent players in the Global Epoxy Resin Market that includes Olin Corporation (Olin) (U.S.), Aditya Birla Chemicals (India), Kolon Industries, Inc. (South Korea), BASF SE (Germany), Ciech S.A (Poland), Huntsman International LLC (U.S.), and Spolchemie (Czech Republic), among others.
Market Highlights:
The Epoxy Resin Market is estimated to reach USD 10,620.5 million till 2023, expanding at a CAGR of 5.24% during the forecast period. The protuberant factors driving growth of the market are, increasing demand of epoxy based composites from major end users such as automotive & transportation industry and continuous growth of construction industry.
Application of phenolic antioxidant in building & construction industry accounted for the largest market share. It has been estimated to grow significant rate throughout the review period. This is attributed to swiftly growing infrastructural activities around the globe, wherein the Epoxy Resins are majorly consumed. Glycidyl epoxy is the major segment among the types and held the maximum share of the market, as of 2016, on account of the increasing use of this type in production of materials to be used numerous industries such as automotive and building & construction.
However, the substantial bottleneck restraining growth of the Global Epoxy Resin Market is the stringent government regulations to limit production and usage of harmful chemical substances. Nevertheless, during the years to follow, growing construction industry in the Middle East & Africa and Asia offers lucrative opportunity for the Global Epoxy Resin Market.
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Segment Analysis:
Global Epoxy Resin Market has been segmented on the basis of type, technology, application, and region. On the basis of type, the market has been divided into glycidyl epoxy and non-glycidyl epoxy. In 2016, the glycidyl epoxy segment held the largest share of the market and is projected to grow at CAGR of 5.33%, on account of increasing use of this type in key end user industries such as automotive and building & construction.
Based on Technology, the market is categorized into liquid epoxy, waterborne epoxy, solvent cut epoxy, and others. Among them, the liquid epoxy resin segment accounted for 48% share of the market due to wide range of applications. However, the waterborne epoxy poised to emerge as the substantial segment growing at highest CAGR, among others. The dominance of this segment in future, is attributed to its increasing demand in powder coating applications.
Based on Application, the Global Epoxy Resin Market is segmented into building & construction, automotive & transportation, electrical & electronics, adhesives & sealants, marine, and others. The building & construction industry dominated the market with the largest share of the market in 2016, owing to rapid infrastructural development around the world. The segment is set to reach USD 2,988.8 million by the end of the review period. In addition to this, automotive industry is the second major consumer of the epoxy resin, which is estimated to grow at highest CAGR throughout the forecast period use of epoxy resin based materials for manufacturing parts of an automobiles.
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Regional Analysis:
Geographically, the Global Epoxy Resin Market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. As per the MRFR analysis, Asia Pacific was the largest region in the Global Epoxy Resin Market as of 2016, in terms of the market share. The region is likely to retain its dominance throughout the forecast period owing to rapidly growing construction activities. Asia Pacific market is followed by North America, which is accounted for the second largest number of shares in the Global Epoxy Resin Market, as of 2016. The North America market is set to reach USD 1,556.8 million by the end 2023. Europe is another substantial region in the market, which accounts for 9.28% share of market in 2016. Country wise, China is the leading market, in terms of value and volume, followed by the U.S. In coming years, Latin America is set to emerge as a significant market for epoxy resin, which is estimated to grow at highest CAGR due to rise of major end users in this region.
Key Points from Table of Contents:
10 Company Profile
10.1 Olin Corporation (Olin)
10.1.1 Company Overview
10.1.2 Product/Business Segement Overview
10.1.3 Financial Updates
10.1.4 Key Developments
10.2 Aditya Birla Chemicals
10.2.1 Overview
10.2.2 Product Overview
10.2.3 Financial Updates
10.2.4 Key Developments
10.3 Kolon Industries, Inc.
10.3.1 Overview
10.3.2 Product Overview
10.3.3 Financial Updates
10.3.4 Key Developments
10.4 BASF SE
10.4.1 Overview
10.4.2 Product Overview
10.4.3 Financial Updates
10.4.4 Key Developments
10.5 Ciech S.A.
10.5.1 Overview
10.5.2 Product Overview
10.5.3 Financial Updates
10.5.4 Key Developments
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