Epoxy Resin Market Size, Trends and Insights By Form (Solid, Liquid), By Type (DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, Others), By Application (Paints & Coatings, Adhesives & sealants, Composites, Electronic Encapsulation, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Huntsman Corporation
- Hexion Inc.
- Dow Inc.
- BASF SE
- 3M Company
- Olin Corporation
- Others
Reports Description
Global Epoxy Resin Market was valued at USD 8.9 Billion in 2024 and is expected to reach USD 17.6 Billion by 2033, at a CAGR of 6.9% during the forecast period 2024 – 2033.
Epoxy resin is a thermosetting polymer that results from the interaction of epoxide monomers with a curing agent or hardener. It is well-known for its high stickiness, durability, strength, and chemical resistance, making it a useful material for a variety of applications including adhesives, coatings, composites, and encapsulating.
Epoxy Resin Market: Growth Factors
Rapid growth in manufacturing activities
Epoxy resins are widely employed in a variety of production processes in sectors including automotive, electronics, construction, and consumer products. As manufacturing operations expand to satisfy rising product demand, epoxy resin consumption increases for applications such as adhesives, coatings, composites, and encapsulants.
Furthermore, epoxy resins have several beneficial qualities that make them necessary in production. They have superior adhesion, chemical resistance, mechanical strength, and longevity, making them suitable for bonding, sealing, and protecting components and structures.
As manufacturers strive to improve the performance and dependability of their goods, the demand for epoxy resins rises proportionately.
Moreover, the ongoing invention and development of novel epoxy resin compositions and applications fuels market growth. Manufacturers are continuously looking for new methods to enhance the qualities and performance of epoxy resins to satisfy changing industry and regulatory requirements.
Overall, the fast development of manufacturing activities increases demand for epoxy resins as important materials in a variety of industrial processes, propelling growth in the epoxy resin market.
Demand for epoxy resin in the aerospace industries
Epoxy resin is used in aerospace due to its lightweight yet durable properties, making it excellent for producing aircraft components that include composite materials, adhesives, and coatings. These components require materials with excellent strength-to-weight ratios to improve fuel efficiency and overall performance.
Epoxy resin’s superior adhesive and mechanical qualities provide structural integrity and resistance to harsh environmental conditions experienced during flight. Moreover, epoxy resin-based composites have higher thermal stability, corrosion resistance, and endurance to fatigue, all of which are crucial in aircraft applications that need dependability and safety.
As the aerospace industry continues to innovate and create sophisticated aircraft designs, demand for superior materials such as epoxy resin is likely to skyrocket. This rising demand pushes research & development activities in the epoxy resin market to improve its qualities and flexibility to the changing demands of the aerospace industry.
Furthermore, epoxy resin’s compatibility with carbon fibres and other reinforcing materials makes it a popular choice for producing lightweight yet strong aerospace components, which contributes to fuel economy and emissions reduction goals. The aircraft industry’s strict quality standards and regulatory requirements confirm epoxy resin’s dependability and performance, boosting acceptance and market expansion in the aerospace sector.
Epoxy Resin Market: Restraints
High raw material prices
The epoxy resin market confronts problems as raw material prices rise, affecting production costs and profitability. Epoxy resins use a variety of basic ingredients, including bisphenol-A (BPA) and epichlorohydrin, both obtained from petroleum. When crude oil prices rise, the cost of these raw materials rises, which directly affects epoxy resin producers.
Furthermore, variations in the pricing of other critical components, such as solvents, hardeners, and additives, exacerbate the problem. Higher raw material costs force firms to either absorb the additional expenses, eroding profit margins or pass them on to customers via higher product pricing.
As end customers look for more cost-effective alternatives, demand for epoxy resins may fall. Furthermore, in a competitive market, producers may struggle to retain market share or invest in research and development for innovative products due to financial constraints caused by soaring raw material prices.
Epoxy Resin Market: Opportunities
Increasing adoption of bio-based polyoxides
Bio-based polyoxides are made from renewable resources like plant oils, which supports the increased emphasis on sustainability and environmental responsibility. This appeals to consumers and businesses looking for greener alternatives to standard petrochemical-based resins.
Furthermore, bio-based polyoxides have equivalent or even better performance qualities than petroleum-derived counterparts, such as good tensile capabilities, adhesion, and chemical resistance. This makes them more suitable for a variety of applications in sectors like automobile construction, electronic devices, and coatings.
Furthermore, the availability of bio-based polyoxides reduces reliance on fossil fuels, lowering supply chain risks and price volatility. Overall, the growing use of bio-based polyoxides reflects a larger market trend towards sustainable and high-performance materials, which is fuelling expansion in the epoxy resin industry.
Epoxy Resin Market: Segmentation Analysis
Global Epoxy Resin market is segmented by form, type, application, and region. Based on form, the market is classified into solid and liquid. Liquid dominated the market in 2023 with a market share of 65.2% and is expected to keep its dominance during the forecast period 2024-2033.
The introduction of liquid form epoxy resin has had a tremendous impact on the epoxy resin business, providing increased versatility and simplicity of usage in a variety of applications. Unlike traditional epoxy resins, which frequently need precise mixing of two components, liquid form epoxy resins are pre-mixed, simplifying the application procedure and lowering the chance of error.
This convenience has increased the market reach of epoxy resins, attracting a broader spectrum of consumers, including DIY enthusiasts and small-scale producers. Liquid epoxy resins also have greater flow properties, allowing for more even coverage and surface adherence.
This property has resulted in broad application in industries such as construction, automobiles electronics, and aviation, which require high-performance coatings, adhesives, and composite materials. Ultimately, the availability of liquids epoxy resins has catalysed market growth by addressing user preferences for convenience, reliability, and performance in diverse applications.
Based on type, the market is classified into DGBEA, DGBEF, novolac, aliphatic, glycidylamine and others. DGBEA dominated the market in 2023 with a market share of 27.5% and is expected to keep its dominance during the forecast period 2024-2033.
DGBEA is a key element in epoxy resin compositions, which drives the epoxy resin industry. It acts as a crosslinking agent, helping the chemical process that changes epoxy resins from liquid to solid state. This reaction produces a long-lasting, high-performance polymer with superior adhesive characteristics, mechanical strength, and chemical resistance.
DGBEA-based epoxy resins are widely used in sectors such as construction, aeroplanes, automobiles, electronics, and coatings. Their flexibility enables the development of a variety of products such as adhesives, coatings, composites, and encapsulants.
Epoxy resin-based products are in high demand due to their exceptional performance and rising usage across a wide range of industries. As a consequence, DGBEA remains a driving force in the epoxy resin market, fuelling its expansion and innovation to meet the evolving needs of diverse industries.
Based on application, the market is classified into paints & coatings, adhesives & sealants, composites, electronic encapsulation and others. Paints & Coatings dominated the market in 2023 with a market share of 39.8% and is expected to keep its dominance during the forecast period 2024-2033.
The paints and coatings industry plays a pivotal role in driving the epoxy resin market due to its extensive use as a key ingredient in various formulations. Epoxy resins are popular because of their superior adhesion, chemical resistance, durability, and adaptability, making them excellent for creating high-performance coatings.
In the paint industry, epoxy resins are frequently employed as binders in primers, topcoats, and protective finishes for metals, concrete, wood, and other substrates. They provide outstanding film-forming capabilities, corrosion protection, and surface quality enhancement, increasing the life of coated surfaces in a variety of applications including automotive, aerospace, construction, and industrial production.
Furthermore, epoxy-based coatings have minimal volatile organic compound (VOC) content and are environmentally friendly, meeting severe regulatory criteria and sustainability goals. The rising demand for durable and aesthetically appealing coatings drives the growth of the epoxy resin market, driven by the paints and coatings industry’s innovation and technological advancements.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 8.9 Billion |
| Projected Market Size in 2033 | USD 17.6 Billion |
| Market Size in 2023 | USD 8.2 Billion |
| CAGR Growth Rate | 6.9% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Form, Type, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Epoxy Resin Market: Regional Analysis
By region, Epoxy Resin market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Epoxy Resin market in 2023 with a market share of 41.6% and is expected to keep its dominance during the forecast period 2024-2033.
Asia-Pacific fast industrialization and urbanization in nations such as China, India, and Japan have raised the demand for epoxy resins in the construction, automobile electronics, and aerospace industries. Furthermore, the region’s increasing infrastructure projects, fuelled by government spending, drive up demand for epoxy resin-based components.
Furthermore, the increased use of epoxy resins in new industries including wind energy, marine coatings, and electrical laminates helps to drive market growth. Moreover, the Asia-Pacific area benefits from a strong industrial base and technical breakthroughs, which promote innovation and product development in epoxy resin applications.
With favourable economic circumstances, growing disposable incomes, and evolving consumer preferences for long-lasting and high-performance materials, the Asia-Pacific region is a prominent driver of development in the worldwide epoxy resin market.
Epoxy Resin Market: Recent Developments
- In February 2024, DIC Corporation stated that it had successfully developed the underlying technology for a revolutionary epoxy resin curing agent that can withstand temperatures up to 200°C and be recycled. In addition to maintaining the remarkable traditional attributes of epoxy resins, such as high heat resistance, durability, and mechanical properties.
- In March 2024, Grasim Industries Limited, opened the expansion project of 123,000 tons of Epoxy resins and formulation capacity at Vilayat, Gujarat boosting the overall capacity of Advanced Materials to 246,000 tons per annum.
- In March 2024, India’s DCM Shriram announced plans to enter into the manufacture of innovative materials by constructing a greenfield epoxy resin facility. DMC Shriram hopes to start operations at its 51,000 tons/year ECH facility in Jhagadia, Bharuch.
List of the prominent players in the Epoxy Resin Market:
- Huntsman Corporation
- Hexion Inc.
- Dow Inc.
- BASF SE
- 3M Company
- Olin Corporation
- Aditya Birla Chemicals
- Kukdo Chemical Co. Ltd.
- Sika AG
- Momentive Performance Materials Inc.
- Nan Ya Plastics Corporation
- Atul Ltd.
- Evonik Industries AG
- Ashland Global Holdings Inc.
- Mitsui Chemicals Inc.
- DIC Corporation
- Sinopec Corporation
- Araldite
- Cardolite Corporation
- West System Epoxy
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Epoxy Resin Market is segmented as follows:
By Form
- Solid
- Liquid
By Type
- DGBEA
- DGBEF
- Novolac
- Aliphatic
- Glycidylamine
- Others
By Application
- Paints & Coatings
- Adhesives & sealants
- Composites
- Electronic Encapsulation
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Epoxy Resin Market, (2024 – 2033) (USD Billion)
- 2.2 Global Epoxy Resin Market: snapshot
- Chapter 3. Global Epoxy Resin Market – Industry Analysis
- 3.1 Epoxy Resin Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rapid growth in manufacturing activities
- 3.2.2 Demand for epoxy resin in the aerospace industries
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Form
- 3.7.2 Market Attractiveness Analysis By Type
- 3.7.3 Market Attractiveness Analysis By Application
- Chapter 4. Global Epoxy Resin Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Epoxy Resin Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Epoxy Resin Market – Form Analysis
- 5.1 Global Epoxy Resin Market Overview: By Form
- 5.1.1 Global Epoxy Resin Market Share, By Form, 2023 and 2033
- 5.2 Solid
- 5.2.1 Global Epoxy Resin Market by Solid, 2024 – 2033 (USD Billion)
- 5.3 Liquid
- 5.3.1 Global Epoxy Resin Market by Liquid, 2024 – 2033 (USD Billion)
- 5.1 Global Epoxy Resin Market Overview: By Form
- Chapter 6. Global Epoxy Resin Market – Type Analysis
- 6.1 Global Epoxy Resin Market Overview: By Type
- 6.1.1 Global Epoxy Resin Market Share, By Type, 2023 and 2033
- 6.2 DGBEA
- 6.2.1 Global Epoxy Resin Market by DGBEA, 2024 – 2033 (USD Billion)
- 6.3 DGBEF
- 6.3.1 Global Epoxy Resin Market by DGBEF, 2024 – 2033 (USD Billion)
- 6.4 Novolac
- 6.4.1 Global Epoxy Resin Market by Novolac, 2024 – 2033 (USD Billion)
- 6.5 Aliphatic
- 6.5.1 Global Epoxy Resin Market by Aliphatic, 2024 – 2033 (USD Billion)
- 6.6 Glycidylamine
- 6.6.1 Global Epoxy Resin Market by Glycidylamine, 2024 – 2033 (USD Billion)
- 6.7 Others
- 6.7.1 Global Epoxy Resin Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Epoxy Resin Market Overview: By Type
- Chapter 7. Global Epoxy Resin Market – Application Analysis
- 7.1 Global Epoxy Resin Market Overview: By Application
- 7.1.1 Global Epoxy Resin Market Share, By Application, 2023 and 2033
- 7.2 Paints & Coatings
- 7.2.1 Global Epoxy Resin Market by Paints & Coatings, 2024 – 2033 (USD Billion)
- 7.3 Adhesives & sealants
- 7.3.1 Global Epoxy Resin Market by Adhesives & sealants, 2024 – 2033 (USD Billion)
- 7.4 Composites
- 7.4.1 Global Epoxy Resin Market by Composites, 2024 – 2033 (USD Billion)
- 7.5 Electronic Encapsulation
- 7.5.1 Global Epoxy Resin Market by Electronic Encapsulation, 2024 – 2033 (USD Billion)
- 7.6 Others
- 7.6.1 Global Epoxy Resin Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Epoxy Resin Market Overview: By Application
- Chapter 8. Epoxy Resin Market – Regional Analysis
- 8.1 Global Epoxy Resin Market Regional Overview
- 8.2 Global Epoxy Resin Market Share, by Region, 2023 & 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Epoxy Resin Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.4 North America Epoxy Resin Market, by Form, 2024 – 2033
- 8.4.1 North America Epoxy Resin Market, by Form, 2024 – 2033 (USD Billion)
- 8.5 North America Epoxy Resin Market, by Type, 2024 – 2033
- 8.5.1 North America Epoxy Resin Market, by Type, 2024 – 2033 (USD Billion)
- 8.6 North America Epoxy Resin Market, by Application, 2024 – 2033
- 8.6.1 North America Epoxy Resin Market, by Application, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Epoxy Resin Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Epoxy Resin Market, by Form, 2024 – 2033
- 8.8.1 Europe Epoxy Resin Market, by Form, 2024 – 2033 (USD Billion)
- 8.9 Europe Epoxy Resin Market, by Type, 2024 – 2033
- 8.9.1 Europe Epoxy Resin Market, by Type, 2024 – 2033 (USD Billion)
- 8.10 Europe Epoxy Resin Market, by Application, 2024 – 2033
- 8.10.1 Europe Epoxy Resin Market, by Application, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Epoxy Resin Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Epoxy Resin Market, by Form, 2024 – 2033
- 8.12.1 Asia Pacific Epoxy Resin Market, by Form, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Epoxy Resin Market, by Type, 2024 – 2033
- 8.13.1 Asia Pacific Epoxy Resin Market, by Type, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Epoxy Resin Market, by Application, 2024 – 2033
- 8.14.1 Asia Pacific Epoxy Resin Market, by Application, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Epoxy Resin Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Epoxy Resin Market, by Form, 2024 – 2033
- 8.16.1 Latin America Epoxy Resin Market, by Form, 2024 – 2033 (USD Billion)
- 8.17 Latin America Epoxy Resin Market, by Type, 2024 – 2033
- 8.17.1 Latin America Epoxy Resin Market, by Type, 2024 – 2033 (USD Billion)
- 8.18 Latin America Epoxy Resin Market, by Application, 2024 – 2033
- 8.18.1 Latin America Epoxy Resin Market, by Application, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Epoxy Resin Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Epoxy Resin Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Epoxy Resin Market, by Form, 2024 – 2033
- 8.20.1 The Middle-East and Africa Epoxy Resin Market, by Form, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Epoxy Resin Market, by Type, 2024 – 2033
- 8.21.1 The Middle-East and Africa Epoxy Resin Market, by Type, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Epoxy Resin Market, by Application, 2024 – 2033
- 8.22.1 The Middle-East and Africa Epoxy Resin Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Huntsman Corporation
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Hexion Inc.
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Dow Inc.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 BASF SE
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 3M Company
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Olin Corporation
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Aditya Birla Chemicals
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Kukdo Chemical Co. Ltd.
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Sika AG
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Momentive Performance Materials Inc.
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Nan Ya Plastics Corporation
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Atul Ltd.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Evonik Industries AG
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Ashland Global Holdings Inc.
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Mitsui Chemicals Inc.
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 DIC Corporation
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Sinopec Corporation
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 Araldite
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Cardolite Corporation
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 West System Epoxy
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Others.
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.1 Huntsman Corporation
List Of Figures
Figures No 1 to 29
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2033
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Huntsman Corporation
- Hexion Inc.
- Dow Inc.
- BASF SE
- 3M Company
- Olin Corporation
- Aditya Birla Chemicals
- Kukdo Chemical Co. Ltd.
- Sika AG
- Momentive Performance Materials Inc.
- Nan Ya Plastics Corporation
- Atul Ltd.
- Evonik Industries AG
- Ashland Global Holdings Inc.
- Mitsui Chemicals Inc.
- DIC Corporation
- Sinopec Corporation
- Araldite
- Cardolite Corporation
- West System Epoxy
- Others
FAQs
The major driver for the Epoxy Resin market is rapid growth in manufacturing activities and demand for epoxy resin in the aerospace industries.
The “Paints & Coatings” had the largest share in the global market for Epoxy Resin.
The “DGBEA” category dominated the market in 2023.
The key players in the market are Huntsman Corporation, Hexion Inc., Dow Inc., BASF SE, 3M Company, Olin Corporation, Aditya Birla Chemicals, Kukdo Chemical Co. Ltd., Sika AG, Momentive Performance Materials Inc., Nan Ya Plastics Corporation, Atul Ltd., Evonik Industries AG, Ashland Global Holdings Inc., Mitsui Chemicals Inc., DIC Corporation, Sinopec Corporation, Araldite, Cardolite Corporation, West System Epoxy, Others.
“Asia-Pacific” had the largest share in the Epoxy Resin Market.
The global market is projected to grow at a CAGR of 6.9% during the forecast period, 2024-2033.
The Epoxy Resin Market size was valued at USD 8.9 Billion in 2024.