The report is titled “Epoxy Resins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” and according to the report, the global epoxy resins market will expand at a CAGR of 6.90% in the period from 2014 to 2020.
Transparency Market Research (TMR) has published a new market study on the global epoxy resins market. Epoxy resins are adhesive plastics or any other material made from a class of thermosetting polymers containing the epoxide group. Epoxy resins are produced by making use of raw materials such as bisphenol A (BPA), phenols, aromatic amines, aliphatic alcohols, and epichlorohydrin.
According to the report, the epoxy resins market, which was valued at US$6.6 bn in 2013, is anticipated to reach a market value of US$10.5 bn by 2020. The report contains an executive summary comprising a snapshot of the epoxy resins market, containing detailed information on the various segments of the global epoxy resins market as well as market dynamics such as the growth drivers and challenges faced by the epoxy resins market. It also analyzes the impact of these dynamics on the market during the forecast period from 2014 to 2020.
To make the study easier to understand and analyze, the report segments the global epoxy resins market on the basis of application and geography. Based on application, the epoxy resins market is categorized into electrical and electronics, adhesives, composites, wind energy, paints and coating, and construction. Other application areas include: eye glasses, vinyl gloves, metal protection, handbags, and plastic tooling.
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Epoxy resins are a highly versatile and useful group of chemicals used in a number of industrial applications. They are used in the paint industry, as epoxy resins help paints dry off quickly and provides a tough protective layer. Epoxy resins are used in the construction of aircraft, watercrafts, and automobiles. They are also an integral requirement in the electronics industry, used in ICs, PCBs, hybrid circuits, and transistors. Of these, printed circuit boards from the electrical and electronics segment, holds the largest share.
Epoxy resins are applied in the production of electrical items such as motors, generators, switchgears, and electrical laminates used in insulators. Epoxy resins are also used in the wind industry for the manufacture of aerodynamically efficient blades, which offer better generation of electricity. Moreover, the applications of epoxy resins are not limited to the technical sector alone; epoxy resins are used by artists to obtain specific colors by mixing pigments. High demand from the aforementioned application areas has greatly boosted the market for epoxy resins. An increased demand from the aerospace industry, due to the reduced overall weight of the aircraft due to the use of epoxy resins, is one of the major drivers for the market.
Geographically, the global epoxy resins market is segmented into Europe, China, North America, Asia Pacific, and RoW. China dominated the market in 2013, accounting for more than 45% of the total market.
Key companies profiled in the report are: NAMA Chemicals, DuPont, 3M Company, Kukdo Chemical Ltd., The Dow Chemical Company, BASF SE, and Hunstman Corporation.
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