The Asia Pacific epoxy resin industry is experiencing robust growth driven by increasing demand across diverse applications such as coatings, adhesives, electronics, and construction. The region benefits from expanding industrialization, infrastructure development, and technological advancements, fostering the market's expansion. Key factors include the rise in construction activities, growth in automotive production, and the electronics sector's reliance on epoxy resins for their excellent adhesion, durability, and thermal resistance properties.
NEWARK, DE / ACCESSWIRE / July 11, 2024 / The Asia Pacific epoxy resin industry value is forecast to increase from USD 4,953.2 Million in 2024 to USD 8,496.3 Million by 2034. Over the assessment period, demand for epoxy resins is projected to surge at a CAGR of 5.5%.
The bisphenol-A epoxy resins segment is expected to dominate the Asia Pacific epoxy resin industry through 2034. It will likely hold a volume share of 35.4% by 2024. On the other hand, the novolac epoxy resins segment is set to thrive at a CAGR of 5.3% through 2034.
The epoxy resin industry in Asia Pacific is witnessing steady growth. It is driven by diverse industrial applications. Its key application areas include paints & coatings, adhesives, composite, electrical, molds, and others.
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Epoxy resin-based coatings are widely employed in several industries for applications such as corrosion protection, industrial flooring, concrete repair, and automotive finishes. These coatings provide long-lasting protection against harsh environmental conditions, chemicals, abrasion, and UV radiation. This makes them ideal for demanding applications in diverse sectors such as manufacturing, infrastructure, marine, and automotive.
The Asia Pacific epoxy resin industry is one of the largest and fastest-growing industries globally, driven by the region's robust economic growth, expanding industrial base, and increasing demand across end-use sectors. With a diverse range of applications and a wide customer base, the industry continues to witness steady growth, supported by infrastructure development, urbanization, and technological advancements.
Key Takeaways from the Report
The paints and coating segment is projected to thrive at 4.7% CAGR during the forecast period.
The construction segment is projected to thrive at 4.9% CAGR during the forecast period.
Novolac epoxy resins are anticipated to witness a considerable CAGR of 5.3% during the forecast period.
The epoxy resin industry value in ASEAN is anticipated to total USD 405.9 Million by 2034.
Sales of epoxy resins in South Korea are projected to soar at a CAGR of around 4.5% during the evaluation period.
"The Asia Pacific epoxy resin industry is poised to witness healthy growth due to escalating environmental regulations and expanding industrial sectors. Policies of government agencies are encouraging more manufacturers to produce epoxy resins." - opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape
Aditya Birla Advanced Material / Aditya Birla Grasim, HSCL (Hindusthan Speciality Chemicals), Atul Industries, Macro Polymers, DIC Color & Comfort, Mitsubishi Chemical, Chang Chun Petrochemical, and Nan Ya Plastics Corporation are the leading manufacturers of epoxy resin profiled in the full version of the report.
Recent Development-
In December 2023, the chemical division of Grasim Industries Limited successfully commissioned additional 123,000 tons of annual capacity of advanced materials (epoxy resins and formulation) manufacturing capacity at Vilayat, Dist. Bharuch, Gujarat.
Asia Pacific Epoxy Resin Industry Segmentations
By Product Type:
Bisphenol-A Epoxy Resins
Bisphenol-F type Epoxy Resins
Aliphatic Epoxy Resins
Novolac Epoxy Resins
Others
By Form:
Solid
Liquid
By Application:
Paints and Coating
Adhesives
Composite
Electrical
Molds
Others
By End-use:
Construction
Automotive
Electronics
Aerospace
Consumer Goods
Others
By Country:
China
India
South Korea
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Report Preview: https://www.futuremarketinsights.com/reports/epoxy-resin-industry-analysis-in-asia-pacific
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as a reference for industry guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing ‘The Way Forward'.
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Have a Look at Related Research Reports on Chemicals & Materials
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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