Global Epoxy Resins Market is Expected to Reach USD 21.87 Billion at a CAGR of 6.9% by 2031

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Epoxy resin usage is expected to rise significantly, with a high Compound Annual Growth Rate (CAGR) of 6.9% predicted between 2022 and 2031. The market for epoxy resins was estimated to be worth US$ 11.22 billion globally in 2021, and by the end of 2031, it is anticipated to have grown to US$ 21.87 billion.

One of the most adaptable and extensively used materials in a variety of sectors is epoxy resin. The extraordinary rise in demand for these synthetic thermosetting polymers can be attributed to their outstanding adhesion, resilience to chemicals, and moisture resistance.

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Various Uses

The wide range of applications for epoxy resin is one of the main factors contributing to its recent spike in usage. Epoxy resins are utilized in several industries, such as:

Environmental Aspects to Take into Account

The fact that epoxy resins have a comparatively smaller environmental impact than other materials is another important factor driving their adoption. Epoxy resins are an environmentally favorable option since they produce very little volatile organic compound (VOC) during the curing process. This dimension corresponds with the increasing emphasis on sustainability and environmentally responsible manufacturing on a worldwide scale.

Important Players:

Competitive Environment

Epoxy resin producers are investing heavily in a number of areas of their business, such as building new production facilities, research and training facilities, distribution networks, and purchasing smaller businesses with complementary capabilities.

Key businesses are deliberately emphasizing the expansion of their manufacturing capacity in order to fulfill the ever-increasing demands of their customers as the epoxy resin industry grows more competitive.

As an illustration:

The opening of Kukdo Chemicals India’s cutting-edge epoxy production facility in Gujarat in 2020 was a noteworthy milestone. This cutting-edge epoxy factory has an astounding 40,000 tons of industrial capacity annually. The corporation purposefully opened its second international factory in India after seeing success in China. This action emphasizes the company’s dedication to giving customers high-quality epoxy solutions while also trying to meet the growing domestic demand.

Important Markets Covered by Industry Research on Epoxy Resins

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Investigation and Creation

The epoxy resins industry’s ongoing R&D efforts are producing improvements that broaden their application and enhance their functionality. New formulas with improved qualities, like increased flame retardancy and heat resistance, are leading to previously undiscovered markets and uses.

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