Epoxy resins are a group of synthetic resins, which are used to make adhesives and plastics. Owing to their versatility, high resistance to chemicals, durability, excellent adhesion, toughness, high electrical resistance, strong durability at both low and high temperatures, and ease they offer while pouring on cast without forming any bubbles, epoxy resins are becoming an integral part of various commercial and industrial sectors.
Automotive Industry to Drive the Market
Epoxy resins are widely employed in the manufacture of automotive coatings. Asia-Pacific is the largest producer and consumer of automobiles in the world. China, India, Philippines, and Vietnam are turning out to be potential markets for the demand and supply of automobiles, with many automotive manufacturers placing their manufacturing and assembly plants in these countries. This can be attributed to the availability of labor at low costs, raw material prices, and the rising urban population in the region. Major car manufacturers, such as Chevrolet, Daimler, Jeep, Audi, Volvo, and Kia have either set up their automotive manufacturing facilities or are planning to start new facilities in the region, shortly. This factor supports the usage of epoxy resins in automotive coatings in the region.
Demand from Adhesives Industry to Expand
Since epoxy resins are made of tightly linked polymer structures, they serve as excellent adhesives in various industries. In addition, they also have unmatched heat and chemical resistance. Epoxy adhesives are commonly divided into one component and two component epoxy adhesives. One component epoxy adhesives are cured at high temperatures (250-300°C). This product is often used as an alternative to welding and rivets. The market in Asia-Pacific, particularly in China and India, is expected to grow rapidly as most of the manufacturing and services industries are establishing in the region.
China to Dominate the Asia-Pacific Market
In the Asia-Pacific, China has the largest market share that accounted for 70.4% in 2015. It holds the major market share, as it is one of the leading electronic products manufacturers. Demand for electronic products is on the rise because of factors like innovation, price deflation, growing household income and an increase in the number of exports. China exports many electronic products or equipment to countries, like India, the United States, the United Kingdom, Hong Kong, Germany, Netherland, etc., thus contributing to the rise in the market. Another major industry that boosts this market is paints & coatings. China is again one of the leading manufacturers of paints & coatings. The automobile industry is the largest end-user for paints & coatings, followed by marine, architectural, furniture, etc., that give rise to the epoxy resins market. These factors, in turn, are boosting the demand for the epoxy resins market.
Major Players: DowDuPont, Nan Ya Plastics, BASF SE, Hexion, Huntsman, Jiangsu Sanmu Group, Chang Chun Chemicals, Anhui Hengyuan Chemical Co., Ltd, and Dalian Qihua Chemical Co., Ltd, among others.
Reasons to Purchase the Report
Understanding the current and future of epoxy resins market in the developed and emerging markets.
Analyzing various perspectives of the market with the help of Porter’s Five Forces analysis.
Identify the segment that is expected to dominate the market.
Identify the regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support, along with the Market Estimate sheet (in Excel).
Customization of the Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you to get a report that suits your needs.
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Force Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Buyers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Growing demand for Automotive Coatings In Emerging Countries
4.1.2 Rising demand From the Electrical & Electronics Industries in China and India
4.2.1 Environmental Concerns
4.2.2 Other Restraints
4.3.1 Innovative Industry Products
4.3.2 Other Opportunities
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Raw Material Type
5.1.1 DGBEA(Bisphenol A & ECH)
5.1.2 DGBEF(Bisphenol F & ECH)
5.1.3 Novolac Epoxy (Formaldehyde & Phenols)
5.1.4 Aliphatic Epoxy Resins(Aliphatic alcohols)
5.1.5 Glycidylamine Epoxy Resins(Aromatic amines & ECH)
5.2 By Application
5.2.1 Paints & Coatings
5.2.4 Electrical & Electronics
5.2.5 Wind Turbines
6. Regional Market Analysis (Market size, Growth, and Forecast)
6.4 South Korea
6.5 Rest of Asia-Pacific
7. Competitive Landscape
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 3M Company
8.2 Aditya Birla Chemicals
8.3 BASF SE
8.4 Chang Chun Plastics Co., Ltd
8.6 Daicel Corporation
8.8 Huntsman Corporation
8.9 Jiangsu Sanmu Group
8.10 Kukdo Chemicals Co. Ltd
8.11 Leuna-Harze GmbH
8.12 Momentive Specialty Chemicals Inc. - Hexion
8.13 Nama Chemicals
8.14 Nan Ya Plastics Corp.
8.15 Olin Corporation
8.16 Sika AG
8.17 Sinopec Baling Co.
8.18 Solvay Group
8.19 Spolchemie AS
*List not exhaustive
**Subject to availability on public domain
- Aditya Birla Chemicals
- BASF SE
- Chang Chun Plastics Co. LTD
- Daicel Corporation
- Huntsman Corporation
- Jiangsu Sanmu Group
- Kukdo Chemicals Co. Ltd
- Leuna-Harze GmbH
- Momentive Specialty Chemicals Inc. - Hexion
- Nama Chemicals
- Nan Ya Plastics Corp.
- Olin Corporation
- Sika AG
- Sinopec Baling Co.
- Solvay Group
- Spolchemie AS