Epoxy Resin Market Anticipated to Grasp $10,264 Mn by 2022 – Allied Market Research

The epoxy resin market is in the development stage due to the growing number of end-user industries, the surge in the need for lightweight components, and intensive research and development on this subject. However, the high cost of epoxy resins and fluctuations in raw material prices are expected to hinder the market growth. In addition, the production of epoxy resins from bio-based sources is expected to provide significant opportunities for industry players in the global market.

DGBEA epoxy resin, which has nearly three-fifths market share in terms of revenue, was a key segment, followed by glycidyl amine and aliphatic epoxy resin in 2015. Total market share, followed by solutions and solid epoxy resins.

Epoxy Resin Market is worth $ 6,826 million in 2015 and is expected to reach $ 10,264 million by 2022. It will grow at a CAGR of 6.2% from 2016 to 2022. period. The Asia-Pacific region will dominate the global market in 2015 and will maintain its lead throughout the forecast period.

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The major companies profiled in the report include BASF SE, E I DuPont de Nemours and Company, Dow Chemical Company, Huntsman Corporation, 3M Company, Kukdo Chemicals, Nan Ya Plastics Corporation, Hexion Inc., Olin Corporation, and Cytec Solvay Group.

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 Key findings of the study

In 2015, Asia-Pacific dominated the global epoxy resin market with around three-fifths share of the total revenue.

Liquid epoxy resin occupied around the three-eighths share of the total market volume in 2015.

Composites segment is anticipated to grow at a high CAGR of 7.1%, in terms of revenue, from 2016 to 2022.

Aerospace is the fastest-growing end-use industry segment growing at a CAGR of 7.9% in terms of revenue, from 2016 to 2022.

In 2015, Asia-Pacific accounted for more than half of the worldwide demand for epoxy resin and is expected to maintain its lead position throughout the forecast period. Further, LAMEA is projected to be the fastest-growing region, with a CAGR of 6.7% followed by North America with 6.5%, owing to the rapid industrialization and increased demand from aerospace industries.