San Jose, CA (PRWEB) January 27, 2014
Follow us on LinkedIn – Epoxy resins represents one of the most widely used and versatile compounds in the polyester or orthophthalic resins family. Epoxies find applications in diverse industrial applications such as paints and coatings; electrical & electronics; automotive; construction; wind energy, and general industrial sectors. Demand for epoxy resins fluctuates in close correlation to global and national GDP growth patterns. The market as a result remains susceptible to cyclical economic boom and busts. Demand particularly from automotive, housing and construction end-use industries therefore declined during the 2007-2009 recession period. Emerging from the recessionary lull, the worldwide epoxy resins market is expected to witness robust growth in the coming years, primarily driven by expanding applications of polymeric compounds. Encouraging gains in global manufacturing is also signaling an optimistic outlook for epoxy resins, given its use in diverse manufacturing industries.
Growing investments in R&D, technological advancements and product innovations are expected to yield newer varieties of stronger, durable, eco-friendly epoxy resins. Manufacturers are developing epoxy resins with modified formulations that exhibit improved mechanical and thermal properties. Growing health and environmental concerns worldwide is encouraging manufacturers to develop low-VOC epoxy resins such as water-based epoxy coatings or powder coatings. Use of epoxy resin composites in the aerospace, wind energy and marine sectors is expected to offer significant growth opportunities in the coming years.
The paints and coatings industry represents the largest consumer of epoxy resins. However, the electrical laminates segment is projected to drive substantial growth in the near term, with rising consumer confidence stoking resurgence in production of printed circuit boards (PCBs). Epoxies, particularly those used in reinforced plastics and composites are also forecast to fuel consumption of epoxy resins in the medium term, with downstream manufacturers making increasing use of lightweight composites particularly, reinforced carbon fiber. Wind energy represents the fastest growing application area for epoxy resins. The strong focus on alternate energy sources and favorable legal and environmental regulatory scenario in developed countries are helping fuel growth in the wind power market and poised to benefit are epoxy resins which find widespread use in windmill turbine blade manufacturing.
Despite significant growth potential, the epoxy resins market continues to be susceptible to volatile raw material prices, particularly epichlorohydrin (ECH) and Bisphenol A. Since raw materials are derived from petroleum, the volatility in international petroleum prices exerts significant pressure on the market.
As stated by the new market research report on Epoxy Resins, Asia-Pacific represents the largest and the fastest growing market worldwide, registering a CAGR of 8.4% over the analysis period. Growing population, increased urbanization, infrastructure development and robust pace of industrialization represent key growth drivers in the region. With US and European markets approaching saturation, new plant installations are primarily centred in China and other Asian countries.
Major players covered in the report include 3M Company, Ashland Inc., Atul Ltd., Aditya Birla Chemicals (Thailand) Ltd., Air Products and Chemicals Inc., Asahi Kasei Corporation, BASF SE, Cytec Industries Inc., DuPont EI De Nemours & Co., Emerald CVC Thermoset Specialties, Huntsman Corporation, Jiangsu Sanmu Group Corporation, LEUNA-Harze GmbH, Kukdo Chemical Co. Ltd., Mitsui Chemicals Inc., Momentive Specialty Chemicals Inc., Nan Ya Plastics Corporation, RBC Industries Inc., Reichhold Inc., Spolchemie A.S., Sumitomo Bakelite Co. Ltd., and The Dow Chemical Company.
The research report titled “Epoxy Resins: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends; economic drivers; major, niche and emerging end-use applications; mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for major geographic regions including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, South Korea, and Rest of Asia-Pacific), Latin America and Rest of World. Key end-use applications analyzed include Paints and Coatings (Solvent-based, Water-based, and Powder Coatings); Electrical & Electronics; Adhesives & Bonding; Construction; Wind Energy, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Epoxy_Resins_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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