The global market for epoxies and hardeners is expected to reach $9.0 billion by 2019
Wellesley, Mass. (PRWEB) April 21, 2015
BCC Research (http://www.bccresearch.com) reveals in its new report on epoxies and hardeners, the rapidly growing emerging economies, particularly China and India, have significantly increased the demand for epoxy and hardeners over the past five years. With more start-up and small companies in the Asia-Pacific region, the outsourcing of epoxy and hardeners are expanding along with the new manufacturing facilities under construction.
The global market for epoxy resins was valued at $6.6 billion in 2014 with a year-on-year growth rate of 2%. The market is expected to grow at a five-year compound annual growth rate (CAGR) from 2014 to 2019 of 6.3% to reach $9 billion by the end of the forecast period.
Epoxy resins, which are thermosetting polymers, are known for their high-quality performance, as well as thermal solidity, mechanical strength, corrosion protection, moisture resistance and strong adhesiveness.
Standardized toxicity tests have shown epoxies such as bisphenol A (BPA) to be safe at the current low levels of human exposure. But other evidence, largely from animal studies, has proven the potential for harmful effects of BPA on the brain, behavior, and prostate glands in fetuses, infants, and young children, which has made many consumers worried. “Parents are cautious towards BPA being used in the manufacture of baby bottles and in the packaging for baby food,” says BCC Research analyst Aneesh Kumar. “In North America, Canada was the first to ban the use of BPA in epoxy. The concern and pressure from consumers in North America and Europe has caused the epoxy market to drive slowly. Asia-Pacific has the highest growth for epoxy resin, where less stringent rules have created opportunities for market penetration.”
The epoxy resin market in Asia-Pacific was valued at around $3.8 billion in 2013 and rose year on year by 2.4% to $3.9 billion in 2014.
Epoxy Resins: Applications and Global Markets provides an up-to-date analysis of recent developments and current trends in the global epoxy and hardeners market along with identifying significant drivers of revenue growth in specific categories for this market.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(AT)bccresearch.com.
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