Inkwood Research estimates that the Global Epoxy Resins Market is evaluated to grow with a CAGR of 5.31% in terms of revenue during the forecasted period of 2021-2028.
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Epoxy materials are characterized as organic polymer
materials produced by polymerizing an epoxide with another compound, comprising
two hydroxyl groups. As a synthetic thermosetting resin, epoxy resins are
well-proportioned industrial constituents with assorted physical forms, such as
high melting solids as well as low viscosity liquids.
Increasing
Demand for Paints and Coatings Propels Market Growth
Over the last four decades, the paints and coatings industry
witnessed major changes, including the adoption of new coating technologies.
Coatings offer two principal functions, namely decoration and protection.
Besides, these functions possess considerable economic importance. The surging utility
of epoxy resins across the sector, in addition to the rising need for paints
and coatings, plays a vital role in fueling the demand for epoxy resins. While
epoxy resins significantly enhance products related to paints and coatings, the
most common applications include water and sewage treatment, home appliances,
shipbuilding, construction (flooring), and others. Moreover, they bond or coat
by adding novel performance characteristics to the material, thereby augmenting
technical superiority and efficacy.
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Novolac
(Formaldehyde & Phenols) is the Fastest-Growing Raw Material
With more than two epoxy groups per molecule, Novolac epoxy
resins are defined as multifunctional epoxy resins. The polyepoxides are
obtained by reacting a phenolic novolac resin with ECH. They are ideal for
high-performance applications necessitating outstanding chemical resistance,
exceptional high-temperature resistance, and solvent resistance. Furthermore,
they can also be used for industrial coatings, corrosion-resistant marine
coatings, and maintenance coatings.
Asia-Pacific
Dominated the Global Market in 2020
The Asia-Pacific recorded substantial electronics and electrical
capacity expansions during recent years. The majority of top manufacturers actively
participate in the region’s expansion plans. Additionally, the rapidly
improving infrastructure, as well as the availability of energy and skilled
labor at viable rates, are among the key factors propelling the capacity
expansions by leading epoxy resin producers across the Asia-Pacific. The
region’s market growth is further accredited to the development of multiple
industries, the surge in the number of applications, the high population base,
and the augmenting research and developing sector.
Leading firms in the global epoxy resins market considerably
invest in the research and development of products in order to encourage the
introduction of improved and enhanced products. Therefore, the competition is fairly
strong among domestic and international vendors. Key companies operating in the
market include Nan Ya Plastics Corp, Kukdo Chemical Co, Dow Chemical, etc.
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technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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