Epoxy Resins Market to Expand at 5.49% CAGR, Surpassing USD 20.85 Billion by 2032

The epoxy resins market is evolving with sustainable innovations, strong demand in automotive and aerospace, and regulatory shifts shaping its future.

AUSTIN, TX, UNITED STATES, February 14, 2025 /EINPresswire.com/ -- The Epoxy Resins Market Size was valued at USD 12.89 Billion in 2023 and is expected to reach USD 20.85 Billion by 2032, growing at a CAGR of 5.49% over the forecast period of 2024-2032.  

The Epoxy Resins Market is significantly growing with the increased usage of paints, coatings, adhesives, and construction. The major manufacturers are investing in sustainable formulations to meet environmental standards. The European Chemical Industry Council, (CEFIC), reports the rising demand for sustainable resins in construction. The region that would exhibit the largest growth is going to be in Asia-Pacific through industrialization and the demand generated for automotive and aerospace sectors where, for instance, Huntsman Corporation is taking care to promote low-emission epoxy resins aligned with consumers' preferences.

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Key Players: 

- 3M (Scotch-Weld Epoxy Adhesive DP100, 3M Epoxy Adhesive 2216)
- Aditya Birla Chemicals (Epoxy Resin A, Epoxy Resin B)
- BASF SE (Epoxy Resin EPOTEC, Epoxy Hardener)
- Dow Chemical Company (D.E.R. Epoxy Resins, D.E.H. Hardener)
- DIC Corporation (DIC Epoxy Resin, DIC Epoxy Hardener)
- Huntsman Corporation (Araldite 2011, Araldite 2020)
- Kukdo Chemical Co., Ltd. (Kukdo Epoxy Resin KD-101, Kukdo Epoxy Resin KD-200)
- Macro Polymers (Epoxy Resin P-235, Epoxy Resin P-300)
- Mitsubishi Chemical Group Corporation (EPICOAT, EPICURE)
- Nan Ya Plastics Corporation (YDF Epoxy Resin, YDE Epoxy Resin)
- Olin Corporation (Epon Epoxy Resins, Epi-Cure Hardeners)
- Sinopec Corporation (Sinopec Epoxy Resin, Sinopec Epoxy Hardener)
- Westlake Epoxy (Westlake Epoxy 1000, Westlake Epoxy 2000)
- Hexion Inc. (EPON Resin, EPICURE Hardener)
- Cytec Solvay Group (AEROSIL Epoxy, EPI-REZ Resin)
- Shin-Etsu Chemical Co., Ltd. (KEP-1000, KEP-2000)
- Eternal Chemical Co., Ltd. (Eternal Epoxy Resin, Eternal Hardener)
- Sika AG (SikaForce, Sikadur)
- Scott Bader Company Ltd. (Crestafill, Crystic)
- Momentive Performance Materials Inc. (EPON Resin, SilCool Epoxy)

By Form, the liquid epoxy resins segment held a predominant market share of 60% in 2023.

Because of the versatility of liquid epoxy resins and their use in coatings, adhesives, and composites, especially in automotive and construction. Liquid epoxy resins provide good adhesion and ease of application which would constitute the ideal choice for protective coatings within hostile environments. For instance, there is an upsurge in demand for this type of coating in marine applications and industrial applications with favorable corrosion resistance and durability, which emphasizes and stimulates the demand for these coatings in different domains.

By Raw Materials, DGBEA (Bisphenol A) dominated the epoxy resins market with over 50% of the market share.

This is likely a reflection of the widespread application of DGBEA in high-performance coatings, adhesives, and composites, particularly in the automotive and electronics sectors. DGBEA-based Epoxy resins exhibit known high-strength mechanical characteristics, resistance to chemicals, and excellent adhesion that when used outstand competing protective coatings in harsh environments. This is evident in the wide usage of electronic encapsulations and circuit boards, where large-scale implementations increase their criticality for the durability and reliability of high-tech applications, ultimately allowing market leadership.

By Application, the paints & coatings segment dominated and held more than 40% share in the epoxy resins market.

The dominance is due to the extensive use of epoxy resins in protective coatings for the construction, automobile, and shipping sectors. The excellent corrosion resistance, durability, and adhesion characteristics of epoxy paints and coatings make them well-suited for protecting metal structures, pipelines, and machinery in extremely demanding environments. As an example, epoxy coatings are gaining traction in applications like the marine sector due to their ability to resist saltwater immersion, which is one of the reasons driving their dominance in the market.

By End-user, the building & construction segment held the highest and more than 35% market share in 2023.

This is because epoxy resins are widely used in construction applications like flooring, coatings, and adhesives because of their strength, durability, and chemical resistance. Epoxy resins are heavily used for concrete reinforcement and protective coatings of steel structures in commercial and industrial buildings. For instance, for many years protection against degradation by virtue of environmental construction and skyscraper coats are also required-from this point of view the segment leads the market.

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Asia-Pacific in 2023 dominated the market with more than 40%

The dominance is due to rapid industrialization seen in China, India, and South Korea. To further strengthen its dominance, strong demands are witnessed in the construction, automotive, and electronics sectors, coupled with the leadership of China in production and consumption. Moreover, increasing interest in renewable sources, for example, wind energy has increased the usage of epoxy resins in wind turbine blades.

North America is the fastest-growing region in the epoxy resins market, which has a CAGR of approximately 6% in 2023.  Aerospace and automotive applications drive demand in this region as they require lightweight, high-performance materials. Increased adoption of electric vehicles and regulation of durability and sustainability are increasing the use of epoxy resins in battery enclosures, composite structures, and aerospace applications.

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