Asia-Pacific Fastest & Largest Growing Market for Epoxy

Epoxy market by type, end-use application, and region. Coatings, composites, adhesives, and other applications are driving the Epoxy market. High growth in the Asia-Pacific and RoW is pushing companies to invest in the region to increase their market shares and regional presence. Recently in march 2015, Olin Corporation (U.S.) acquired Dow Chemical’s spinoff business Epoxy division to enhance its presence in growing regions. Similarly in August 2015, BASF SE (Germany) opened a new resin and electro coat plant at the Shanghai Chemical Industry Park (SCIP) in Shanghai. The new plant will strengthen BASF’s local manufacturing in Asia-Pacific.

In 2015, the composites segment is estimated to have accounted for the largest market share, in terms of value, followed by coatings applications. The Epoxy Market in the composite application is projected to register the highest CAGR between 2015 and 2020. There has been increased usage of composites in the building of body and interiors of cars, buses, trucks, air crafts. These are majorly carbon composites formed with Epoxy. Eventually, the demand for Epoxy is getting a great push from composites used in various industries.

Asia-Pacific is the largest and the fastest-growing market for epoxy resin. The market in the region is driven by increasing demand from the automotive & transportation, construction, aerospace, and other industries. Epoxy resin offers fine quality pattern, which provides an opportunity for manufacturers to bring newer advanced grades in the market and differentiate their products from their competitors. Asia-Pacific is followed by Europe and North-America.

The market players are expected to adopt growth strategies such as investments & expansions, new product development, merger & acquisition, partnership, and contracts to increase their overall business, globally. The rising demand for epoxy resin is mainly driven by the automotive & transportation, construction, aerospace, marine, wind energy, and other applications. Stiff competition in the industry, product quality and differentiation has encouraged companies to adopt such strategies. All these developments are expected to lead to sustainable growth of the epoxy resin market in the next five years.

The key active players of the global epoxy resin market are Olin Corporation (U.S.), Nan Ya Plastics Corporations (Taiwan), Kukdo Chemical Co. Ltd. (Korea), Hexion Inc. (U.S.), Chang Chun Plastics Ltd. (Taiwan), Huntsman Corporation (U.S.), BASF SE (Germany), 3M (U.S.), Mitsubishi Chemical Corp. (Japan), Atul Ltd. (India),  Sinopec Corp. (China), and Aditya Birla Chemical (Thailand) .

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