By Nick Gilbert
MarketsandMarkets has released a new report titled ‘Global Epoxy Resin Market by Application & Geography - Market Estimates up to 2017.’
The report provides in-depth analysis and forecast data of the global market for epoxy resins in terms of revenue and volume. According to the report, the estimated value of the global epoxy resins market in terms of revenue was $5.5 billion in 2011 and will grow at 7.3% CAGR to reach $8.4 billion by 2017.
The report also covers the drivers and barriers impacting the global market for epoxy resins with analysis of challenges, winning imperatives, burning issues, opportunities and trends. Geographic markets covered in the report include North America, Asia-Pacific, Europe and Rest of the World with forecast data pertaining to each region. Moreover, the report segments the market based on applications with forecast data in terms of revenues.
Asia-Pacific is the largest epoxy resins market. The requirement for epoxy resins is anticipated to increase in the Asia-Pacific region, thanks to strong growth in end-user industries in India and China. Key players operating in the global market for epoxy resins include Dow Chemical, 3M, BASF, Spolchemie, NAMA Chemicals, Huntsman, Kukdo Chemical, Nan Ya Plastics, and Momentive Performance Material Holding, to name a few.
Epoxy resins come under the thermosetting polymer category and demonstrate superior performance in a variety of industrial applications for adhesion, moisture resistivity, mechanical strength, thermal stability, corrosion protection and much more. Epichlorohydrin and Bisphenol A are key raw materials utilized in the manufacture of epoxy resins and any variations in the demand and supply of these materials will have a significant effect on the global epoxy resin industry.
There is a well-established connection between the global market for epoxy resins and its end-user application industry's growth. Increasing research and development initiatives in the modified epoxy resin field expand the material’s use in industrial applications.