GVR Report cover Epoxy Resin Market Size, Share & Trends Report

Epoxy Resin Market Size, Share & Trends Analysis Report By Application (Construction, Paints & Coatings, Electrical & Electronics, Adhesives), By Region (Asia Pacific, North America), And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-171-9
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global epoxy resin market size was valued at USD 12.84 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. Increasing demand from the paints & coatings sector is anticipated to significantly drive industry growth during the forecast period. Moreover, growing construction spending, particularly in residential construction, in North America and Western Europe will support industry growth. The rapid growth in global manufacturing activities is also expected to fuel the demand for paints & coatings used in the production of motor vehicles and other durable goods, as well as industrial maintenance applications.

U.S. epoxy resin market size, by application, 2020 - 2030 (USD Billion)

This is expected to boost the demand for epoxy resins globally. Asia Pacific has been the leading consumer of epoxy resins, supported by the high demand from China and India. Infrastructure development along with increasing automotive production has fueled the demand for paints & coatings in this region. Increasing disposable income levels and willingness to spend are also expected to drive market growth over the coming years. In the recent past, global automotive production increased rapidly due to the rising demand from the middle-income population and rising disposable income across emerging nations, such as China, India, Brazil, and Vietnam.

The rise in automotive demand propelled the consumption of paints & coatings across the automotive industry, thereby fueling the demand for epoxy resins. However, volatile raw material prices are expected to hamper the industry growth during the forecast period. In addition, the COVID-19 pandemic had a negative impact on the product demand in various applications, including paints & coatings, adhesives, wind turbines, and others, owing to stalled manufacturing activities, restrictions in supply & transportation, and economic slowdown across the globe in 2020. However, recommencing industrial operations will have a positive impact on product demand in the coming years.

Application Insights

The paints and coatings application segment led the industry and accounted for more than 37.4% of the revenue share in 2022. Epoxy resin-based paints & coatings are widely utilized in residential & commercial buildings, shipbuilding industries, automotive, and wastewater treatment plants among others owing to their excellent resistance to stains, cracks, extreme temperatures, blistering, and chemicals. They offer excellent adhesion, high anti-corrosion performance, and have low Volatile Organic Compounds (VOC) content. Epoxy resin-based paints & coatings are used to coat the interior and exterior surfaces of commercial, residential, institutional, and industrial buildings.

Global epoxy resin market share, by application, 2022 (%)

The application of these paints & coatings not only increases the aesthetic appeal of surfaces but also protects them from extreme temperatures and UV radiation, without them getting peeled, faded, or cracked. Emerging regions, such as Asia Pacific, and Middle East & Africa, are witnessing significant growth in their non-residential sectors, including IT, telecom, and retail, resulting in an increased demand for paints & coatings. In addition, rapid industrialization, increasing government infrastructure spending, and rising Foreign Direct Investments (FDIs), especially in Asia Pacific, will contribute to product demand, thereby fueling market growth.

Regional Insights

The Asia Pacific region dominated the global industry in 2022 and accounted for the largest share of more than 59.54% of the overall revenue. Rising construction activities and growing demand from the automotive sector in emerging countries, such as India, Japan, and South Korea, are expected to drive the regional market over the forecast period. Furthermore, the easy availability of raw materials has provided huge opportunities for the use of epoxy resin-based products in various end-use sectors. China dominated the Asia Pacific regional market in 2022. The rising number of infrastructure development projects and the rapidly growing manufacturing industry are expected to drive market growth in the country.

Epoxy Resin Market Trends by Region, 2023 - 2030

The construction market in China is likely to outperform other Southeast Asian countries, owing to government initiatives and funding to enhance its development. For instance, according to the National Development and Reform Commission (NDRC) in 2019, the Chinese government approved 26 infrastructure projects with a total expected investment of USD 142 billion. Similarly, in 2020, the Communist Party of China announced that the government is planning to invest around USD 1.4 trillion in a digital infrastructure public spending program.

Key Companies & Market Share Insights

Industry players compete on basis of the quality of products offered. Leading market players compete based on their product development capabilities and new technologies used in product formulations. Established players, such as Huntsman International LLC, are investing in the development of innovative and sustainable solutions for formulating new and advanced resins that give them an edge over their competitors. For instance, in September 2020, Huntsman International LLC launched the ARALDITE 2000 Adhesive core range consisting of three technologies: epoxy, acrylic, and polyurethane, for helping businesses to maximize their productivity by covering up to 80% of all bonding needs. Some of the prominent players in the global epoxy resin market include:

  • 3M

  • Aditya Birla Management Corp. Pvt. Ltd.

  • Atul Ltd.


  • Solvay

  • Huntsman International LLC

  • Kukdo Chemical Co., Ltd.

  • Olin Corporation

  • Sika AG

  • Nan Ya Plastics Corp.

  • Jiangsu Sanmu Group Co., Ltd.

  • Jubail Chemical Industries LLC

  • China Petrochemical & Chemical Corporation (SINOPEC)

  • Hexion

  • Kolon Industries, Inc.

  • Techstorm

  • Nagase & Co., Ltd.

Epoxy Resin Market Report Scope

Report Attribute


Market size value in 2023

USD 13.69 billion

Revenue forecast in 2030

USD 22.48 billion

Growth rate

CAGR of 7.3% from 2023 to 2030

Base year for estimation


Historical data

2019 - 2021

Forecast period

2023 - 2030

Quantitative units

Volume in Kilotons, Revenue in USD million/billion, and CAGR from 2023 to 2030

Report coverage

Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, region

Region scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country insights

U.S.; Germany; France; U.K.; China; India; Japan; Taiwan; South Korea

Key companies profiled

3M; Aditya Birla Management Corp. Pvt.; Ltd.; Atul Ltd.; BASF SE; Solvay; Huntsman International LLC; Kukdo Chemical Co., Ltd.; Olin Corporation; Sika AG; Nan Ya Plastics Corp.; Jiangsu Sanmu Group Co., Ltd.; Jubail Chemical Industries LLC; China Petrochemical & Chemical; Corp.; (SINOPEC); Hexion; Kolon Industries, Inc.; Techstorm; Nagase & Co., Ltd.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

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Global Epoxy Resin Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, Grand View Research has segmented the global epoxy resin market report on the basis of application and region:

Global Epoxy Resin Market Report Segmentation

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • Paints & Coatings

    • Wind Turbines

    • Composites

    • Construction

    • Electrical & Electronics

    • Adhesives

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • North America

      • U.S.

    • Europe

      • Germany

      • France

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

      • Taiwan

      • South Korea

    • Central & South America

    • Middle East & Africa

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