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