Epoxy Resin Market

The global epoxy resin market is estimated to register a notable CAGR of 5.38% during the review period (2019–2025). The global market, in terms of value, is projected to reach USD 11,056.3 million by the end of 2025. The major factor expected to drive the growth of the global market is the expanding automotive and aerospace industries and increasing adoption of epoxy resin composite as a lightweight material. Also, the growing demand for epoxy resin in the paints and coatings industry due to its high adhesion characteristic is further expected to fuel the global market growth. The increasing construction activities in developing countries of Asia-Pacific and the Middle East & Africa is expected to create lucrative opportunities for the market players. Also, the growing R&D investments to produce bio-based epoxy resin as a substitute for petro-based epoxy resin is also expected to create immense growth opportunities for the producers of epoxy resin during the forecast period. However, the growing popularity of alternatives is likely to pose a major challenge to the market players in the coming years. In addition, fluctuating raw material prices are expected to hinder the global epoxy resin market growth during the assessment period.

The Asia-Pacific market accounted for the largest share of 62.84% in 2018 and is projected to register the highest CAGR of 6.04% during the assessment period. This is attributed to the expanding automotive and aerospace industries and growing demand for epoxy resin in the paints and coatings industry. Also, the increasing construction activities in the region such as new construction of residential and commercial buildings in developing countries of South-East Asia and India is further expected to offer lucrative opportunities to the market players in the regional market. China is the leading country in the region and was valued at USD 3,058.3 million in 2018 owing to increasing construction activities and growing demand for epoxy resin in industrial coatings.