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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Epoxy Resin Market Trends
The rising demand for convenience and processed food and beverages is increasing the demand for packaging in both developed and emerging countries. Epoxy resins are used in the internal coatings of cans to enhance the shelf life of canned food and beverage products. They are also used to protect and preserve the taste, texture, and colour of food and beverage products while preventing corrosion.
Moreover, the increasing use of glass packaging is significantly contributing to the epoxy resin market value as it uses epoxy resin to prevent corrosion in jars and bottles. The introduction of various stringent policies regarding food safety by several governments is increasing the use of epoxy resin, further fuelling the growth of the market.
Increasing research regarding bio-based epoxy resins is expected to aid the market growth. Moreover, the development of bio-based epoxy resins derived from natural polyphenols and natural oils with high mechanical properties as petroleum-based adhesives is anticipated to invigorate the industry growth. The potential use of bio-based epoxy resins in the aviation industry as a substitute for petroleum-based materials is estimated to invigorate the market growth for epoxy resin. As per epoxy resin industry analysis, the increasing usage of such resins in the manufacturing of thermoplastics to create lightweight and sustainable materials is projected to augment growth.
Epoxy Resin Market Report Snapshots
Epoxy Resin Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global epoxy resin market attained a value of nearly USD 7.18 billion.
The epoxy resin market is projected to grow at a CAGR of 6.40% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 12.55 billion by 2032.
The market is being driven by the thriving construction sector and the rising demand for canned packaging of food and beverages products.
The key trends in the market are the increasing use of epoxy resin in the automotive industry, rising demand for epoxy resin in aviation, and the increasing research and development for bio-based epoxy resin.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major forms of epoxy resin are solid, liquid, and solution.
The different types of epoxy resin in the market are DGBEA (bisphenol A and ECH), DGBEF (Bisphenol F and ECH), novolac (formaldehyde and phenols), aliphatic (aliphatic alcohols), and glycidylamine (aromatic amines and ECH), among others.
The significant applications in the global epoxy resin market are paints and coatings, adhesives and sealants, composites, and electronic encapsulation, among others.
The different end uses of epoxy resin are building and construction, transportation, general industrial, consumer goods, wind energy, aerospace, and marine.
The major players in the market are BASF SE, Kukdo Chemical Co. Ltd., Jiangsu Sanmu Group Co., Ltd., Hexion Inc., Aditya Birla Chemicals, and Chang Chun Group, among others.
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