Global Epoxy Resins Market to Develop Rapidly by 2020, Propelled by Rising Demand from Electrical and Electronic Applications

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Epoxy resins are polymers with usually more than one epoxide group. They are produced industrially, usually from petroleum raw materials. The global epoxy resins market is expected to develop rapidly during the period between 2014 and 2020 due to increasing demand for epoxy resins from the electrical and electronics applications.

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The global epoxy resins market is highly concentrated, with clear dominance of the top five companies. A high degree of integration will be displayed by some of the multinational players in the global epoxy resins market in the coming few years. Many leading players in the global epoxy resins market are introducing epoxy resins used for manufacturing electrical laminates for motors, switchgears, insulators, and generators. Thanks to the multiple uses of epoxy resins, the global epoxy resins market is predicted to develop rapidly in the next few years. Some of the key players in the global epoxy resins market are Celanese Corporation, Huntsman Corporation, Kukdo Chemicals Co. Ltd., the Dow Chemical Company, 3M Company, Aditya Birla Chemicals, Nan Ya Plastics Corp, Momentive Speciality Chemicals, BASF SE, and DuPont.

Factors Shaping the Global Epoxy Resins Market Between 2014 and 2020

The global epoxy resins market is segmented on the basis of application and geography. By geography, the global epoxy resins market is divided into regions such as China, Europe, North America, Rest of Asia Pacific, and Rest of the World. In terms of revenue and volume, China dominated the global epoxy resins market in 2013 with a 45% market share. Due to easy availability of raw materials in China, many emerging companies from Japan are relocating their plants to this region.
  • Demand for epoxy resins from electrical and electronic applications is expected to be on the higher side in China during the forecast period.
  • The North America market for epoxy resins will experience moderate growth, whereas the demand for epoxy resins is expected to increase rapidly in the European region during the forecast period.
  • Demand for epoxy resins from the building and construction industry will propel the epoxy resins market in the Asia Pacific region.
  • Although demand for raw materials from polycarbonate applications will slow down the growth of the market, increasing demand from paints and coatings will keep the global epoxy resins market afloat during the forecast period.
  • The wind energy and aerospace industries will generate more demand for epoxy resins in coming few years. Epoxy resin mixtures are used to manufacture several aircraft structures, especially airframes. Such airframes reduce the overall weight of the aircraft and improve efficiency of fuel consumption.
  • Introduction of biobased epoxy resins by some of the key market players will offer growth opportunities for the global epoxy resins market by 2020.
  • Growing demand for epoxy resins in end-use industries such as automotive, marine, building, and construction will propel the global epoxy resins market.
By application, the global epoxy resins market is divided into pai
nts and coatings, wind energy, electrical and electronics, adhesives, composites, construction, and others. The others sector includes handbags, vinyl gloves, eyeglasses, plastic tooling, and metal protection. In terms of revenue and volume, demand from the global epoxy resins market was dominated by paints and coatings in 2013, with a 42% market share. The paints and coatings segment is expected to maintain its dominant position in the epoxy resins market during the forecast period.

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