Epoxy Resin Market Outlook - Supply and Demand Analysis 2025-2034

Epoxy Resin Market

Epoxy resins, also referred to as polyepoxides, are a class of reactive prepolymers and polymers with epoxide groups attached to it. Epoxy resin is classified as a thermosetting resin that is widely used in construction, aerospace, automotive, and many other industries. The popularity of the polymer can be attributed to its mechanical properties, chemical resistance, thermal properties, and adhesive strength.

Global Supply/Demand Outlook

The global epoxy resin market stood at a volume of around 3,400 KT in 2023. The market is projected to grow at a CAGR of 3.50% between 2025 and 2034 to reach a volume of about 4,580.1 KT by 2032. Paints and coatings is the leading application of epoxy resins, accounting for nearly 47% of the market value. One of the key factors propelling the epoxy resin market is the growing demand for paint and coating solutions from the residential construction sector and the growing demand for protective coatings from the industrial sector. Epoxy-based coatings are commonly used in the building and construction sector to enhance the strength and durability of concrete surfaces.

Additionally, epoxy resins are the most common thermosetting polymer employed in aircraft components and structures. This can be attributed to their high strength and toughness, durability in hot and moist conditions, reduced shrinkage and lower release of volatiles during curing. The diverse applications and versatility of epoxy resins contribute to their growing demand from diverse industries.

The global capacity of epoxy resin was about 5,100.0 KT in the year 2023. It is estimated to reach around 6,110.0 KT by 2032. Asia Pacific holds the major share of epoxy resin capacities representing around 65% of the global production capacity. The plant capacity utilisation of epoxy resin stood at 66.70% in 2023.

Regional Market Analysis

The electrical and electronics sector of the Asia Pacific region is a significant consumer of epoxy resins. North America and Europe are other significant markets. In North American countries like the United States, the demand for advanced materials and aerospace composites is expected to continue to grow, supported by the presence of leading aircraft manufacturers like Boeing and Lockheed Martin, thereby driving the market for epoxy resins.

Key Market Players

The top five manufacturers of epoxy resins are Guido Chemical, Olin Corporation, Hexion Inc., Jiangsu Sanmu Group, and Huntsman International LLC. Among these, Guido Chemical is the world's leading manufacturer of epoxy resins and holds approximately 12.3% of the overall epoxy resins capacity. As of March 2022, South Korea-based Guido Chemical had a production capacity of around 630,000 tonnes.

Other players in the market are Nan Ya Plastic Corporation, 3M Company, BASF SE, Aditya Birla Chemicals, Kukdo Chemical Co., Ltd., Daicel Corporation, and NAMA Chemicals. In 2018, Kukdo Chemical India announced that the company is awaiting green nod for its epoxy resins unit, scheduled to be operational by April 2019. Post-COVID-19, the company improved profits by enhancing the sales of its high value-added offerings like eco-friendly products, along with other strategies.

Key Questions Answered in the Report:

• What are the high-growth opportunities and markets for epoxy resin by end use and region?

• What are the different forms of epoxy resin available by region?

• Which segments and regions are projected to grow at a faster pace and why in the epoxy resin market?

• What is the nameplate capacity of epoxy resin by region from 2018 to 2032?

• How does the plant capacity utilisation of epoxy resin vary by region between 2018 and 2034?

• Who are the major players in the epoxy resin market by capacity and region?

• What major plant shutdowns and expansions have occurred in the epoxy resin market in the last year and the last quarter?

• What major plant shutdowns and expansions are planned in the epoxy resin market over the next year and quarters?

• How did export and import dynamics of epoxy resin vary by region in terms of value between 2018 and 2023?

• How did export and import dynamics of epoxy resin vary by region in terms of volume between 2018 and 2023?

• What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of epoxy resin?

• What are the environmental considerations and regulatory impacts affecting the epoxy resin market?

• What technological innovations are having an impact on the production and application of epoxy resin?

• What are the key trends and innovations in the epoxy resin market?

• What are the challenges and opportunities faced by epoxy resin manufacturers?

• What are the potential risks and barriers to entry for new players in the epoxy resin market?

• What strategic investments and expansions have major players made in the epoxy resin market?

• How are geopolitical factors and international trade policies affecting the global epoxy resin market?

• What are the price trends for epoxy resin, and how are they expected to change?

• How does the supply chain of epoxy resin operate, and what are its key components?