One of the main factors driving the market expansion of epoxy resin is the rising demand for paints and coatings. Products made from epoxy resin dry quickly and offer the construction sector superior finishes. Concrete floor paint, floor paint, and epoxy primers all frequently employ paints that are based on epoxy resin. They shield the surfaces from rust and corrosion. To increase the adherence of automotive and marine components, these coatings are incorporated into primers. Thus, it is anticipated that rising demand for paints and coatings will support the expansion of the epoxy resin market. In terms of revenue, the Asia-Pacific region held a 62% market share of the worldwide epoxy resin market in 2021, followed by Europe and North America.
Global Epoxy Resin Market is estimated to surpass US$ 39708.00 million by the end of 2021, in terms of revenue, growing at CAGR of 5.51% during the forecast period (2022 to 2030).
Prominent Companies in the Epoxy Resin Industry:
1. BASF SE
Founded in 1856 is a chemical manufacturing company that include the sectors materials, industrial solution, surface technology, Nutrition and agricultural solutions. Operational in more than 90 countries. Headquarters in Ludwigshafen, DE.
2. Huntsman Corporation,
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. Huntsman Corporation was founded in 1970 and is headquartered in The Woodlands, Texas.
3. The Dow Chemical Company
Dow Inc. provides various materials science solutions for packaging, infrastructure, mobility, and consumer applications. Dow Inc. was incorporated in 2018 and is headquartered in Midland, Michigan. In January, 2023 Dow and partner Jaguar TCS Racing are gearing up for an exciting weekend at the upcoming Mexico City E-Prix to kick-off Season 9 of the ABB FIA Formula E World Championship.
4. 3M Company
3M is an America-based company that was established in the year 1929. It is a major player in the Wound Care industry. The company operates through five segments globally. In order to retain its share in the market, the company focuses on launching new and advanced products. Moreover, 3M Health Care's Medical Solutions Division announced, in October 2022, that it’s 3M V.A.C. Therapy negative pressure wound therapy (NPWT) surpassed a clinical evidence milestone of 2,000 published, peer-reviewed medical journal studies. V.A.C. This is the first and only NPWT solution to garner this number of published studies about its therapy.
5. Aditya Birla Chemicals Ltd (Thailand)
Founded in 1983, Aditya Birla Chemicals (Thailand) offers solutions to food processors across the world for Seafood, Meat, Bakery, Cheese, Beverage and more. The company has headquarters situated in Samutprakarn, Samutprakarn.
6. Nan Ya Plastics Corporation
Nan Ya Plastics Corporation engages in the manufacture and sale of plastic products, polyester fibers, petrochemical products, and electronic materials in Taiwan, China and Hong Kong, the United States, and internationally. Nan Ya Plastics Corporation was incorporated in 1958 and is headquartered in Kaohsiung City, Taiwan.
7. Kukdo Chemical Ltd.
Kukdo Chemical Co., Ltd. operates as a chemical materials company in South Korea. The company offers epoxy resins; hardeners; and coating, adhesive, flexible, and rigid polyols, as well as rigid, semi-rigid, and flexible polyurethane systems. Kukdo Chemical Co., Ltd. was founded in 1972 and is headquartered in Seoul, South Korea. In April, 2020 Kukdo Chemical acquired the ACF department from Hoimyung Corporation.
8. NAMA Chemicals.
NAMA Chemicals Company, together with its subsidiaries, owns, operates, and manages industrial projects in the petrochemical and chemical sectors. The company was founded in 1992 and is based in Jubail, the Kingdom of Saudi Arabia.
*Definition- Epoxy resin is a polymer made when an epoxide and a substance containing two hydroxyl groups copolymerize.
