epoxy resin market will advance with higher growth rate as compared to previous years . However the current challenge for the market is the fluctuating raw material prices and popularity of alternative resins .
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On the basis of end-use , paints & coatings drives the maximum share . The application accounts for over 45 % of market share . The share is attributed to its drying out properties along with its hardness . This induces the demand in automotive and construction industries . Furthermore composite material is anticipated to be the fastest growing end-use segment growing at a CAGR of approximately 6 % in the forecasted period . It is valued as the most preferred thermoplastic resin due to its light weight , which can be an added feature for automotive and aerospace industries .
On the basis of region , APAC takes the lead as the largest market , followed by North America and Europe . APAC , due to its rapid urbanization and changing lifestyles have created an increased demand for automobiles . Also the increased investment in infrastructure to support the population growth in the region is the driving force . The region accounts for over 55 % of market share in 2015 , with China leading by country , and is expected to show similar results by 2022 . North America was valued to have a market size of more than USD 1,200 million in 2015 due to increased demand from automotive and marine sectors . The trend is expected to be stable by the end of 2022 .
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Scope of the report
This study provides an overview of the global epoxy resin industry , tracking two market segments across four geographic regions . The report studies key players , providing a five-year annual trend analysis that highlights market size , volume and share for North America , Europe , Asia Pacific , and Rest of the World . The report also provides a forecast , focusing on the market opportunities for the next five years for each region . The scope of the study segments the global epoxy resin market as application and end-use . On Tel : + 1 646 845 9312 akash . anand @ marketresearchfuture . com