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Epoxy Resins: Applications and Global Markets

  • May 2017
  • 157 pages
  • BCC Research
Report ID: 2779327

Summary

Table of Contents

• The global market for components of epoxy resins reached $7.0 billion in 2015. This market is expected to increase from $7.5 billion in 2016 to nearly $10.2 billion in 2021 at a compound annual growth rate (CAGR) of 6.3% for 2016-2021.
• The epoxy segment of this market is expected to grow from $6.1 billion in 2016 to $8.3 billion at a CAGR of 6.3% from 2016 through 2021.
• The hardener segment of this market is expected to grow from nearly $1.4 billion in 2016 to $1.9 billion in 2021 at a CAGR of 6.3% from 2016 through 2021.

Chapter 1: Introduction
The global market for epoxy resins has been growing at a significant rate over the past five years, due especially to high demand for their use in structural applications in the construction, automotive, wind energy, aerospace, electrical and electronics, adhesives, marine and protective coatings industries,
especially in the Asia-Pacific and Europe regions. In addition, research and development in epoxy and hardener technologies has resulted in quicker exothermic reaction times which reduces overall production costs.

Epoxy resins, which are thermosetting polymers, are well known for their high-quality performance with mechanical strength, corrosion protection, moisture resistance, chemical resistance, heat resistance and strong adhesiveness. These properties make them useful in various industrial applications. The epoxy
resin market is broadly divided into two categories, epoxides and hardeners or curing agents. Epoxy resins are the combination of these epoxides and hardeners. Different types of epoxies discussed in this report include Bisphenol A, Bisphenol F, Phenolic Novolac and Epichlorohydrin, which, when mixed with
hardeners, provide robust adhesion and tensile property. The application of an epoxy resin with high clarity and high viscosity can provide a durable, polished
resin layer as well as structural strength for a wide variety of materials including carbon fiber, Kevlar, wood and certain plastics and metal.

Major epoxy and hardener suppliers include 3M, Aditya Birla Chemicals, Ashland Inc., Atul Ltd., BASF, Blue Star New Chemical Materials Co. Ltd., Cabot Corp., Solvay Inc., Dow Chemical, Dupont, Huntsman Corp., Kukdo Chemical, Kumho P&B Chemicals, Nama Chemicals, Nippon Kayaku Co. Ltd., PPG Industries, Sinopec Baling Co., and Nan Ya Plastics Corp., all of which are profiled in detail at the end of this report. The Asia-Pacific region accounts for the highest market share for epoxies and hardeners, followed by Europe and North America.


Study Goals and Objectives
The goal of this report is to provide an up-to-date analysis of recent developments and current trends in the global epoxy and hardeners market. The report provides detailed information on key factors propelling the market, including opportunities, drivers and challenges. The report includes detailed forecasting for the global epoxy resin market in terms of value and volume based on physical form, application in end-user industries, and demand by region especially in five main regions, Asia-Pacific, Europe, North America, South America and Middle East and Africa.

Purpose of the Study
The rapid growth in emerging economies, particularly China and India, has significantly increased the demand for epoxy and hardeners over the past five years. In addition, with more start-up and small companies in China and India, outsourcing of epoxy and hardener production is increasing, with new manufacturing facilities under construction. Companies outside of India and China are outsourcing production to these regions.


Scope of Report
The scope of this report is broad and covers many different types of epoxy and hardeners used globally in various types of applications. The market is broken down by major types of epoxy and hardeners, by region, by application and by curing agents. Revenue forecasts from 2015 to 2021 are given for each major type of epoxy and hardener with their applications and regional markets. The report also includes a discussion of the major players in each of the regional markets for epoxy resins. It explains the major market drivers of the global epoxy resin industry, current trends within the industry, major industry challenges, and the regional dynamics of the global epoxy and hardeners market. The report concludes with a special focus on the supplier landscape. It includes detailed profiles
of the major vendors in the epoxy resin industry globally with discussion of the market share of the major players by region.

Research Methodology
A descriptive study has been done with a trend analysis for the global market for epoxy resins in end user industries using a quantitative and qualitative approach. BCC Research collects data through various primary and secondary sources including interviews with industry vendors, white papers, business journals, public financial proceedings and historical market data from the internet. Market data is assessed and validated with consideration of interrelated market attributes and the impact of global economic variables. The value of the market is then obtained through a combination of bottom-up and top-down approaches using exclusive market modeling tools to generate BCC Research’s market data and forecasts. Estimated values used are based on manufacturers' total revenues.

The global market is divided into five regions:

• North America: U.S., Canada, Mexico.
• Europe: from Greenland (Denmark) to Russia and from Norway to Greece.
• Asia-Pacific: from Afghanistan to Japan and from Mongolia to New Zealand.
• South America: from Guatemala to Chile.
• ROW: entire Middle East countries and entire African region.


Intended Audience
This report is intended especially for manufacturers, suppliers, end users and others with a vital interest in epoxy resins and hardeners and their applications. In addition, because of the report’s business focus, it will be useful to sales executives and business managers as an up-to-date guide that includes challenges, drivers and trends that are expected to be significant factors in the current and future markets.

The report should also be of interest to manufacturers and suppliers of epoxy resin and hardener raw materials and industries such as paints and coatings, wind energy, composites, construction, aerospace, electrical and electronic, adhesives, marine and protective coatings.

Information Sources
The findings and conclusions of this report are based on information gathered from a variety of primary and secondary sources, including industry association data, and interviews conducted with epoxy and hardener manufacturing companies. Other secondary sources consulted for the report include the internet, industry journals and publications, product literature, white papers and technical journals, and financial reports from industry suppliers. The base year for analysis and projection is 2015. With 2015 as a baseline, market projections were developed for 2016 to 2021. These projections are based on consensus among primary contacts, combined with our understanding of the key market drivers and their impact from historical and analytical perspectives. The analytical methodologies used to generate the market estimates are described in detail in the market analyses. All dollar projections presented in this report are in 2016
constant dollars.

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