Epoxy Resin Market Report

Market Insights

“The epoxy resin market was valued at USD 12.8 billion in 2024 and is projected to reach USD 21.2 billion by 2031, growing at a CAGR of 9.2% during the forecast period.”

Market Dynamics

Introduction

The epoxy resin market is experiencing a steady rise in its growth because of the rise in demand in major industries, including the construction industry, transportation, electronics, and wind energy. Epoxy resins are being used due to its high excellent thermal and chemical resistance, high mechanical strength, and adhesivity. Increased establishment of lightweighting of automotive products and aerospace products with epoxy resin-based composites is further compounding the market demand. It also has an expanding application in the manufacturing of high-performance industrial and marine coatings, which further promotes its prospects. The market is, however, challenged by the presence of the price instability of the raw materials (bisphenol A and epichlorohydrin mainly) on the market, increasing environmental concerns, and regulatory pressures on toxic emissions. Business opportunities for making bio-based epoxy resin and the development of other new curing agents that are faster to process and more sustainable can be observed.

Segment Analysis

By Type

“DGBEA resins are expected to remain dominant, whereas glycidylamine will be the fastest-growing resin type of the market during the forecast period.”

The most common type of epoxy resin is DGBEA (Diglycidyl Ether of Bisphenol A) because of its high mechanical strength, good adhesion, and chemical resistance. It is economical and the core of a broad spectrum of formulations in industrial coating, structural adhesives, and general-purpose composites. This compatibility and financial availability cause it to be the biggest and most powerful one in the market. Conversely, Glycidylamine epoxy resin is designed to be used in high-performance applications where high levels of thermal stability and resistance to chemicals are vital, i.e., in electronics, aeroplanes, and automotive components. With a rise in demand for miniaturized, high-performance materials that are heat-resistant, especially in electric vehicles (EVs) and aviation, Glycidylamine resins are beginning to take off. They are going to experience the highest growth rate of all resin types, in this regard, because of this advanced mode adoption.

By Application

“Paints & Coatings will remain the largest application segment, while Composites will be the fastest-growing during the forecast period.”

The Paints & Coatings segment is the leader in the market, occupying a large part of the consumption of epoxy resins worldwide. Epoxies are durable, resistant to corrosion, and bond well to metal and concrete, which has made them useful in industrial flooring, marine, pipelines, automobile finishes, and hard environment protective coatings. Their popularity in structural and factory maintenance keeps them as dominant players in this field. Meanwhile, the Composites segment is undergoing a fast growth where the shift in the world towards using lightweight high-strength materials, including automotive, aerospace, wind energy, sports equipment, etc., is experiencing a boom. Epoxy resin parts find their application in wind turbine blades, parts of electric vehicles, and aircraft structures, including structural application that replaces heavier metal structures. The switch to weight loss and fuel economy is driving the composites application to become the fastest-growing in the epoxy resin market.

By End User Type

“Building & Construction holds the largest share of the market, whereas wind energy is anticipated to dominate the market in the upcoming years.”

The greatest end-use market by volume is building & construction, whose growth is caused by robust demand for adhesive, coating, and flooring products in infrastructure and commercial constructions. It is aided by fast-track urbanization and continuous construction of the infrastructure, particularly in the Asia-Pacific and emerging economies. Wind Energy presents the most rapid development due to the movement of the world to renewable energy. The manufacture of lightweight, durable wind turbine blades requires Epoxy resins, and their usage is on the increase in both on and offshore structures. Increases in investment in green energy projects and climate targets favour the growth in this industry.

Regional Analysis

“Asia-Pacific is expected to maintain its reign over the forecast period, whereas Europe is likely to grow at the fastest rate.”

The largest is the Asia-Pacific market that is powered by high demand for epoxy resins in the construction, automotive, and electronics industries within countries in the region, such as China, India, and South Korea. Instant industrialization, construction of infrastructures, and massive manufacturing activities serve to enhance the leadership in the region. It is expected that Europe would grow fastest due to growing interest and emphasis on sustainability, expansion of the electric vehicle market, and large-scale investments in renewable energy, especially wind energy. It is also promoting the use of the advanced and bio-based epoxy systems due to strict environmental regulations. North America possesses a stable growth trend, all thanks to the development of high-performance epoxies, the repair of infrastructure, and aerospace/defence market needs. The area is also fortunate in terms of a developed industrial background and excellent regulatory infrastructure for the use of sustainable materials.

Key Players

The market is fragmented, with over 100 players. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the epoxy resin market:

Here is the list of the Top Players (Based on Dominance)

• Hexion Inc.
• Olin Corporation
• Huntsman Corporation
• Kukdo Chemical Co., Ltd.
• Nan Ya Plastics Corporation
• Aditya Birla Chemicals
• BASF SE
• Chang Chun Group
• 3M Company
• Sika AG

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The global Epoxy Resin market is segmented into the following categories.

Epoxy Resin Market, by Resin Type

• DGBEA (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• DGBEF (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Novolac (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Aliphatic (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Glycidylamine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)

Epoxy Resin Market by Application Type

• Paints & Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Composites (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Adhesives (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)

Epoxy Resin Market by End-Use Industry Type

• Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• General Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Aerospace (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Marine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of World)

Epoxy Resin Market by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s epoxy resin market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruit available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]