LONDON, Dec. 22, 2014 /PRNewswire/ -- Epoxy resins are important compounds derived from the reaction of oxirane containing compound epichlorohydrin (ECH) and bisphenol A (in case of phenol epoxy resin). The DGEBA is the most common type of epoxy resin that is being used in the industry. Depending on the requirement, bisphenol A can be replaced by bisphenol F, Z, BP, or other non-phenolic compound). On the basis of application, the epoxy resins market can be broadly segmented into paints & coatings, electrical & electronics, wind turbine, construction, composites, and adhesives. The key drivers for the increasing demand of epoxy resins is majorly due to increasing demand in end-user industries such as wind turbine and paints & coatings from the Asia-Pacific region.
The Asia-Pacific region is the largest market for epoxy resins, consuming more than half of the global demand. The region has potential for the product due to increasing demand for its end-user products. For instance, with the increasing focus on renewable source of energy, the investment in the wind energy sector has been on ramp. Countries such as China and South Korea are determined to increase the share of wind energy in their energy production portfolio.
Even the type of chemical used forms a separate segment for epoxy resins. For instance, the use of chemicals such as bisphenol A, F, Z, and S forms the family of phenolic epoxy resins. On the other hand, glycidyl amines are formed by making ECH react with amines. The most important type of resin in this class is tetraglycidyl methylene dianiline (TGMDA). Cycloaliphatics are another type of epoxy resins. These resins are high temperature resistant and available in solid and liquid forms. They find applications in powder coating, casting, aerospace and other applications.
This study on the epoxy resins market estimates its global demand and market value for 2012, and projects the expected demand and market value of the same by 2019. As a part of quantitative analysis, the study segments the global market by application and region with current market estimation and forecast till 2019. The countries covered in the report are China, Japan, South Korea, U.S., Germany, U.K., and Brazil.
Furthermore, as a part of the qualitative analysis, the research provides report with a comprehensive review of important drivers, restraints, opportunities, winning imperatives, and burning issues in the market. It also includes company profiles and competitive strategies adopted by different market players including The Dow Chemical Company (U.S.), Momentive Performance Materials Holdings LLC (U.S.), Nan Ya Plastics Corporation (Taiwan), Kukdo Chemical (South Korea), Chang Chun Plastics Co. Ltd. (Taiwan), Huntsman Corporation (U.S.), BASF SE (Germany), Aditya Birla Chemicals (Thailand) Ltd, and others.
The global epoxy resin market is projected to grow at a CAGR of 6.5% to reach a demand of 3,389.4 KT by 2019. The Asia-Pacific region, with its thriving economies and rapidly expanding population, is expected to remain the largest market for epoxy resins from 2014 to 2019.
Scope of the report
• Epoxy resin market on the basis of region:
o Asia-Pacific
o Europe
o North America
o Rest of the World
• Epoxy Resin market on the basis of application:
o Paints & coatings
o Electrical & electronics
o Wind turbine
o Composites
o Construction
o Adhesives
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