The latest research by Mordor Intelligence covers the "Epoxy Resin Market," delivering insights into market dynamics, drivers of growth, and long-term forecasts.
Market Overview:
Global epoxy resin market is projected to grow steadily from an estimated USD 10.76 billion in 2024 to USD 13.61 billion by 2029, registering a compound annual growth rate (CAGR) of 4.82% during the forecast period. This growth is supported by rising demand across multiple end-use industries including construction, automotive, electrical & electronics, and paints & coatings.
According to the, this surge in demand is largely attributed to the increasing use of epoxy-based coatings for corrosion protection, rising consumption of lightweight composite materials in transportation, and the growth in electronic component manufacturing. Asia-Pacific remains the dominant region due to rapid industrialization and infrastructure development.
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Key Trends Driving Market Growth
Several sector-specific trends are influencing the expansion of the epoxy resin market:
Infrastructure and Construction Boom
Epoxy resins are widely used in flooring, coatings, adhesives, and concrete repairs due to their durability and resistance to chemicals. The continued growth in infrastructure projects, especially across Asia-Pacific and the Middle East, is increasing the consumption of epoxy-based construction materials.
Automotive Sector Demand for Lightweight Composites
As automotive manufacturers strive to improve fuel efficiency and reduce vehicle weight, epoxy resin-based composites such as carbon fiber-reinforced plastics are becoming more prevalent. This is driving new applications in structural components and under-the-hood parts.
Electrical and Electronics Applications
The insulating properties of epoxy resins make them suitable for circuit boards, insulators, and encapsulation of semiconductors. With global electronics production expanding, particularly in countries like China, South Korea, and Japan, demand for epoxy-based electrical products is rising.
Coatings and Paints for Corrosion Resistance
Marine, industrial, and infrastructure sectors rely on epoxy-based coatings to prevent corrosion. These coatings are in demand for pipelines, tanks, bridges, and offshore structures, supporting market growth.
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Market Segmentation
The epoxy resin market is segmented based on raw material type, application, and geography. Each segment contributes uniquely to the overall market dynamics:
By Raw Material:
Bisphenol A
Bisphenol F
Novolac
Aliphatic
Others
Among these, Bisphenol A-based epoxy resins hold a major share due to their excellent mechanical properties and wide applicability across coatings and adhesives.
By Application:
Paints and Coatings
Adhesives and Sealants
Composites
Electrical and Electronics
Others
Paints and Coatingslead the segment with substantial use in industrial, automotive, and marine environments.
Adhesives and Sealantsare essential in construction and assembly lines.
Compositesare gaining traction in automotive and aerospace industries.
By Geography:
Asia-Pacific
North America
Europe
South America
Middle East & Africa
The Asia-Pacific region dominates the global epoxy resin market, with China leading both production and consumption. Rapid urbanization and a growing manufacturing base contribute significantly to regional demand.
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Key Players in the Market
The epoxy resin market is moderately consolidated, with key global and regional manufacturers competing on product quality, application range, and price. Several companies are actively expanding their production capacities and product portfolios to cater to diverse industry needs. Major players operating in the market include:
3M
A key player offering epoxy resin-based adhesives and coatings, 3M continues to expand its presence across industrial and automotive sectors.
Aditya Birla Chemicals (Thailand) Ltd.
The company supplies high-performance epoxy resins across Asia and other regions, catering to electronics and composites segments.
Atul Ltd.
Based in India, Atul Ltd. offers a range of epoxy resins and hardeners used in construction, automotive, and coatings industries.
Huntsman International LLC
Huntsman is known for its advanced material solutions, including epoxy systems used in aerospace, automotive, and electrical insulation applications.
Kukdo Chemical Co. Ltd.
A major Asian producer of epoxy systems, particularly for electronics and construction.
Olin Corporation
The company supplies epoxy resins globally under its Epoxy division, serving sectors like wind energy, automotive, and electronics.
These companies are focusing on partnerships, product innovation, and sustainable formulations to maintain competitiveness.
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Conclusion
The global epoxy resin market is set to experience consistent growth through 2029, driven by broad-based demand from infrastructure, automotive, electronics, and industrial applications. The market's expansion is reinforced by increased investments in construction and transport infrastructure in emerging economies, along with a shift toward energy-efficient and lightweight materials.
With Asia-Pacific remaining at the center of global demand, manufacturers are scaling up operations and localizing supply chains to tap into growing regional markets. The trend toward high-performance and specialty epoxy resins is expected to further diversify application areas, sustaining growth momentum for the foreseeable future.
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