Epoxy Resin Market is Estimated to Witness High Growth Owing to Rise in Demand for Lightweight and Durable Materials

Epoxy resins are thermosetting resins having excellent adhesion properties and chemical resistance. They are extensively used in protective coatings, electrical insulations, laminates, adhesives and composites owing to their high strength and heat resistance properties. Epoxy resins find widespread applications in paints and coatings, construction, wind energy, aerospace, marine and others. The growing demand for lightweight and durable materials from end use industries is propelling the growth of the epoxy resin market.
The Global Epoxy Resin Market was valued at US$ 42.03 Bn 2022, exhibiting a CAGR of 6.5% in terms of revenue, over the forecast period (2023 to 203 to reach US$ 69.69 Bn by 2030.

Key Takeaways

Key players operating in the Epoxy Resin market are BASF SE, Huntsman Corporation, The Dow Chemical Company, 3M Company, DuPont, Aditya Birla Chemicals Ltd (Thailand), Momentive Specialty Chemicals Inc, Nan Ya Plastics Corporation, Kukdo Chemical Ltd., and NAMA Chemicals
The key opportunities in the epoxy resin market include increasing demand from the wind energy industry owing to stringent regulations regarding emission levels and focus toward renewable energy sources. Rising demand for epoxy resins from aerospace and defense sectors due to lightweight and high strength properties of composites will further create growth opportunities. Technological advancements in developing bio-based epoxy resins made from plant-based materials like soy, corn and vegetable oils will drive the market growth.


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