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

Market Segmentation

• Epoxy Resin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
  • Paints & Coatings
  • Wind Turbines
  • Composites
  • Construction
  • Electrical & Electronics
  • Adhesives
  • Others
• Epoxy Resin Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
  • North America
    • North America Epoxy Resin Market by Application
      • Paints & Coatings
      • Wind Turbines
      • Composites
      • Construction
      • Electrical & Electronics
      • Adhesives
      • Others
    • U.S.
      • U.S. Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
  • Europe
    • Europe Epoxy Resin Market by Application
      • Paints & Coatings
      • Wind Turbines
      • Composites
      • Construction
      • Electrical & Electronics
      • Adhesives
      • Others
    • Germany
      • Germany Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
    • France
      • France Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
    • U.K.
      • U.K. Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
  • Asia Pacific
    • Asia Pacific Epoxy Resin Market by Application
      • Paints & Coatings
      • Wind Turbines
      • Composites
      • Construction
      • Electrical & Electronics
      • Adhesives
      • Others
    • China
      • China Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
    • India
      • India Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
    • Japan
      • Japan Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
    • Taiwan
      • Taiwan Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
    • South Korea
      • South Korea Epoxy Resin Market by Application
        • Paints & Coatings
        • Wind Turbines
        • Composites
        • Construction
        • Electrical & Electronics
        • Adhesives
        • Others
  • Central & South America (CSA)
    • Central & South America Epoxy Resin Market by Application
      • Paints & Coatings
      • Wind Turbines
      • Composites
      • Construction
      • Electrical & Electronics
      • Adhesives
      • Others
  • Middle East & Africa
    • Middle East & Africa Epoxy Resin Market by Application
      • Paints & Coatings
      • Wind Turbines
      • Composites
      • Construction
      • Electrical & Electronics
      • Adhesives
      • Others

Epoxy Resin Market Dynamics

Driver: Increasing Demand for Paints & Coatings From Construction And Automotive Industries

Epoxy resins are mostly used in the production of paints & coatings. The paints & coatings market is dependent on the automotive and construction industries, which are directly affected by economic conditions in the world. Stable economic conditions are expected to have a positive impact on the growth of construction and automotive industries globally. This is expected to result in increased demand for paints & coatings.

Increasing demand for epoxy resins is attributed to the growing construction spending, particularly residential construction, which is expected to rebound in North America and Western Europe. The rapid growth in global manufacturing activities is 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. This is expected to boost the demand for epoxy resins globally. Asia Pacific has been the leading consumer of epoxy resins, fueled by increasing demand from China and India. Infrastructure development along with increasing automotive production has fueled paints & coatings demand in the region. Increasing disposable income and spending willingness will drive the market over the coming years.

Driver: Growing Demand for Epoxy-Based Composites Across End-Use Industries

Epoxy resins are used in the manufacture of composite materials that are used widely in load-bearing applications such as automotive, aerospace, construction, oil & gas, and marine due to their low cost, high mechanical properties, high specific strength, super adhesiveness, and high resistance against heat & solvents. The demand for high-performance composites is expected to witness growth from the commercial airplane sector as well as emerging opportunities in various applications such as wind turbines and pressure vessels. However, the relatively high cost and labor-intensive production of advanced composites are anticipated to prevent these composites from penetrating high-volume and price-sensitive markets.

Increasing demand for composites from the automotive and aerospace industries, particularly in Europe and North America, is expected to remain a key driving factor for the epoxy resins market. Increasing fuel prices coupled with the rapidly growing commercial aviation sector are expected to drive epoxy resin demand over the forecast period. Epoxy-based composites have gained popularity among windmill manufacturers to increase efficiency by reducing weight. Growing environmental concerns and the need for energy conservation have driven the demand for epoxy composites owing to their lightweight and high-strength characteristics

Restraint: Volatile Raw Material Prices

Epichlorohydrin is a major raw material used in the manufacture of epoxy resins. ECH is manufactured from allyl chloride, which is derived from propylene and chlorine/caustic soda. Global crude oil prices have witnessed extreme variations in recent years. Social unrest in major crude oil-producing countries such as Libya, Venezuela, Nigeria, Iran, and Iraq has negatively affected crude oil supply, thus, creating inelasticity in demand and supply balance. These factors are short-lived in the market and cause immediate fall and rise in prices.

Monomers required for manufacturing polymers are derived from petrochemicals. Hence, crude oil prices largely influence petrochemical prices. Since major raw materials used in epoxy resin manufacturing are largely dependent on petrochemicals, volatility in crude oil prices is expected to lead to fluctuations in epoxy resin prices over the forecast period.

What Does This Report Include?

This section will provide insights into the contents included in this epoxy resin market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Epoxy resin market qualitative analysis

• Industry overview

• Industry trends

• Market drivers and restraints

• Market size

• Growth prospects

• Porter’s analysis

• PESTEL analysis

• Key market opportunities prioritized

• Competitive landscape

  • Company overview

  • Financial performance

  • Product benchmarking

  • Latest strategic developments

Epoxy resin market quantitative analysis

• Market size, estimates, and forecast from 2019 to 2030

• Market estimates and forecast for product segments up to 2030

• Regional market size and forecast for product segments up to 2030

• Market estimates and forecast for application segments up to 2030

• Regional market size and forecast for application segments up to 2030

• Company financial performance