As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The epoxy resins market saw about 3.2 million metric tons of global demand in 2020. The demand is further expected to grow at a CAGR of 5% between 2021 and 2026 to reach a volume of 4.3 million metric tons by 2026.
Get a Free Sample Report with Table of Contents - Download Now
The Asia Pacific region, followed by the European Union and North America, are the major supply markets for epoxy resins. Over 75% of the epoxy resins supply is concentrated within the Asia Pacific. It is expected that the overall demand of the substance will continue to grow in the coming years. North America, Europe, and Asia have excess capacity at the regional level and there is significant trade between these regions due to different epoxy resin qualities. Major exporters like the United States and the European Union, export epoxy resin of high quality to the rest of the world. The United States mainly exports its surplus epoxy production to supply countries with deficits, such as Canada and Mexico. It is expected that in the future South Korea, the United States, and Germany will continue to be the net exporters of epoxy resins.
The Asia Pacific exports epoxy resins to Europe and North America as and when there is a regional price arbitrage. The Asia Pacific accounts for nearly 65% of global epoxy resin consumption, with China being the largest consumer. China majorly imports high-quality epoxy material from Taiwan. The growth in the highly concentrated electronics industry in Asia will continue to be the primary driver of the demand for epoxy resins. Rising industrialization and rising disposable income will also increase the demand for the substance in the building and automotive industries in the form of adhesives and coating.
North America has a surplus capacity of epoxy resins, with supply being enough to meet the domestic demand of the product. The region relies on cheaper material imports from the Asia Pacific. This cheap material is used for applications which do not necessarily demand high-quality material. The domestic demand for epoxy resins is also driven by the rising renewable energy sector in North America. The high-quality resins produced in North America are usually exported to regions like China, Korea, along with other Asian countries.
Properties and Applications
Epoxy resins are used for the production of plastics, adhesives, paints, coatings, primers and sealers, flooring, and other materials and products used in building and construction applications. Epoxies are plastics made from thermoset through the reaction of two or more industrial chemical compounds. They find their applications in the following segments:
The report also covers the regional markets of the product like North America, Europe, the Middle East and Africa, the Asia Pacific, and Latin America.
The global epoxy resins market is being driven by the expected growth in the global electronics market, especially in the emerging region of the Asia Pacific. Along with the growing smartphone and other gadget markets, the epoxy resins market is also expected to grow since electronics consume most of the epoxies by volume, owing to its applications in circuit boards. The growing construction activities and the growth of the automotive industry in developing economies will also aid the epoxy resins market growth. The rising trade of epoxy resins between different regions is also a major driver, propelling the market growth further.
The growing demand for adhesives and paints as well as coatings in emerging economies, like China, India, Latin America, etc., are also driving the market growth. The rising demand from the United States and Europe for waterborne composite applications in marine coatings, aerospace, and windmills will also propel the industry forward in the coming years. In North America and Europe, windmill installations will support the demand growth for epoxy resins.
July 2020- Aditya Birla Chemicals Thailand has acquired Recyclamine, a recyclable epoxy resin technology, from the US-based start-up, Connora.
The report gives a detailed analysis of the following key players in the global epoxy resins market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model along with giving a SWOT analysis.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Driver Analysis
5.2 Market Restraint Analysis
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Epoxy Resins Market Analysis
6.1 Figure: Global Epoxy Resins Historical Market (2016-2020) & Forecast (2021-2026)
6.2 Chart: Global Epoxy Resins Market Breakup by Applications
6.2.1 Electrical and Electronics
6.2.2 Powder Coatings
6.2.3 Marine and Paints
6.2.4 Civil Engineering
6.2.5 Can and Coil Coatings
6.2.6 Automotive Coatings
6.3 Figure: Global Epoxy Resins Market Breakup by Applications: Historical Market (2016-2020) & Forecast (2021-2026)
6.3.1 Electrical and Electronics
6.3.2 Powder Coatings
6.3.3 Marine and Paints
6.3.4 Civil Engineering
6.3.5 Can and Coil Coatings
6.3.6 Automotive Coatings
6.4 Chart: Global Epoxy Resins Market Breakup by Region
6.4.1 North America
220.127.116.11 United States of America
18.104.22.168 United Kingdom
6.4.3 Asia Pacific
6.4.4 Latin America
6.4.5 Middle East & Africa
22.214.171.124 Saudi Arabia
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
6.5 Figure: Global Epoxy Resins Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
6.5.1 North America
184.108.40.206 United States of America
220.127.116.11 United Kingdom
6.5.3 Asia Pacific
6.5.4 Latin America
6.5.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
7 Global Epoxy Resins Price Analysis
7.1 North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.2 Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.3 Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.4 Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
7.5 Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
8 Global Epoxy Resins Trade Analysis (HS Code: 390730)
8.1 Major Exporting Countries: By Value and Volume
8.2 Major Importing Countries: By Value and Volume
9 SWOT Analysis
10 Porter’s Five Forces Analysis
10.2 Buyer’s Power
10.3 Supplier’s Power
10.4 New Entrants
10.5 Degree of Rivalry
11 Value Chain Analysis
12 EMR’s Key indicators for Demand
13 EMR’s Key Indicator for Price
14 Procurement Strategy
14.1 Sourcing Model
14.2 Negotiation Levers
14.3 Pros and Cons of Contract vs. Spot
15 Cost Analysis and Project Economics
15.1 Cost of Raw Material
16 Competitive Landscape & Supplier Analysis
16.1 Kukdo Chemical Co. Ltd.
16.1.1 Company Overview
16.1.2 Financial Analysis
16.2 Nan Ya Plastics Corporation
16.2.1 Company Overview
16.2.2 Financial Analysis
16.3 Jiangsu sanmu group Co,Ltd.
16.3.1 Company Overview
16.3.2 Financial Analysis
16.4 Hexion Inc.
16.4.1 Company Overview
16.4.2 Financial Analysis
16.5 Chang Chun Group
16.5.1 Company Overview
16.5.2 Financial Analysis
16.6 Aditya Birla Chemicals
16.6.1 Company Overview
16.6.2 Financial Analysis
16.7 Huntsman International LLC
16.7.1 Company Overview
16.7.2 Financial Analysis
16.8 Jiangsu Yangnong Kumho Chemical Co., Ltd.
16.8.1 Company Overview
16.8.2 Financial Analysis
16.9 Baling Petrochemical Co.,ltd
16.9.1 Company Overview
16.9.2 Financial Analysis
16.10 Jubail Chemical Industries LLC
16.10.1 Company Overview
16.10.2 Financial Analysis
17 Events and Developments
Additional Customisations Available:
18 Manufacturing Process
18.1 Detailed Process Flow
18.2 Operations Involved
18.3 Mass Balance
19 Production Cost Analysis and Project Economics
19.1 Land, Location and Site Development
19.3 Plant Machinery
19.4 Cost of Raw Material
19.9 Other Capital Investment
The global epoxy resins market attained a demand volume of almost 3.2 million metric tons in 2020. It is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 5%. The market demand is projected to reach 4.3 million metric tons by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its application, the global epoxy resins market can be segmented into electrical and electronics, powder coatings, marine and paints, civil engineering, can and coil coatings, automotive coatings, composites, and adhesives, with the electrical and electronics segment accounting for a segment market share. The major regional markets for the product are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa, with the Asia Pacific being the leading supplier of the product. The key players in the above market include Kukdo Chemical Co. Ltd., Nan Ya Plastics Corporation, Jiangsu sanmu group Co,Ltd., Hexion Inc., Chang Chun Group, Aditya Birla Chemicals, Huntsman International LLC, Jiangsu Yangnong Kumho Chemical Co., Ltd., Baling Petrochemical Co.,ltd., and Jubail Chemical Industries LLC, among others.
The major drivers of the industry such as rising disposable incomes, increasing population, growing electronics, automotive, and construction industries, and rising demand from the coatings and adhesives industries are aiding the industry growth. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected market conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
Single User License
Five User License
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.