The global epoxy resins market sizewas valued at USD 8.70 billion in 2020. The market is anticipated to rise from USD 11.59 billion in 2021 to USD 17.10 billion by 2028 at a 5.7% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Epoxy Resins Market, 2021-2028.”

Report Coverage

The report focuses on quantitative and qualitative assessments to offer a holistic view of the global market. The report highlights bottom-up and top-down approaches to provide a comprehensive view of product mapping. Further, a host of primary interviews has been conducted with opinion leaders, suppliers and other stakeholders. Primary data has been collated through emails, telephonic conversations and questionnaires. The secondary sources referred are press releases, SEC filings and websites.

Segmentation

Based on application, the market is segmented into electrical & electronics, paint & coatings, wind turbine & composites, adhesive & sealants, civil engineering and others.

In terms of geography, the industry is segregated into North America, Asia Pacific, Europe, the Middle East and Africa and Latin America.

Drivers and Restraints

Steady Demand from Automotive to Usher Growth Potentials

While the impact of the COVID-19 pandemic had a pressing effect on the automotive industry in 2020, the next few years could provide growth opportunities. The trend for lightweight materials could spur epoxy resins market size growth during the forecast period. An increased focus on next-gen vehicles, along with investments in research activities, will drive the growth potentials. Industry players expect robust government policies and industrialization to augur well across advanced and emerging economies.

However, fluctuating raw material prices and rigorous regulations toward volatile organic compounds could hamper the growth prospect.

Regional Insights

Bullish Investments in Paints & Coatings to Foster Asia Pacific Market

Asia Pacific epoxy resins market size share will observe an appreciable gain on the back of strong investments in raw materials. Emerging economies, such as China and India, are likely to up their investments across paints & coatings and electrical & electronics sectors. Stakeholders are likely to inject funds into the consumption of epoxies in the ensuing period.

Industry participants envisage Europe as a happy hunting ground in the wake of profound investments in the automotive sector and wind energy. Moreover, construction activities are likely to pick pace across the U.K., Germany and Italy. Stakeholders bank on thriving renewable energy amidst demand for sustainable chemicals.

North America market forecast will be strong with rising investments in private and public infrastructure projects across the U.S. Besides, the penetration of the food & beverage industry could solidify the position of North America in the ensuing period. Stakeholders expect adhesives and sealants and wind turbines to be sought-after across the region.

Major Players Profiled in the Market Report:

• Kukdo Chemical Co., Ltd. (South Korea)
• Huntsman Corporation (U.S.)
• Olin Corporation (U.S.)
• Nan Ya Plastics Corporation (Taiwan)
• Hexion Inc. (Westlake Chemicals) (U.S.)
• Chang Chun Group (Taiwan)
• Aditya Birla Chemicals (India)
• Sika Group (Switzerland)
• DIC Corporation (Japan)
• China Petrochemical & Chemical Corporation (China)

source-https://www.fortunebusinessinsights.com/epoxy-resin-market-106597