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Home  > Markets & companies  > Raw materials market  > Global Market for epoxy resins to grow

Wednesday, 30 September 2020
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Markets & companies, Raw materials market

Global Market for epoxy resins to grow

Friday, 9 March 2012

Asia-Pacific is forecast to display the overall fastest CAGR for epoxy resins of about 7.6 % through 2017.

GIA’s report expects the worldwide market for epoxy resins to reach 3.03 million tons by the year 2017.

Source: Stephane TOUGARD - Fotolia.com

GIA’s report expects the worldwide market for epoxy resins to reach 3.03 million tons by the year 2017.

Source: Stephane TOUGARD - Fotolia.com

The worldwide market for epoxy resins is slated to reach 3.03 million tons by the year 2017. According to the latest report by Global Industry Analysts Inc. (GIA), "Epoxy Resins: A Global Strategic Business Report", growing use of epoxy resins in niche and relatively untapped end-use applications such as marine and maintenance coatings, bonding applications, decorative powder coatings, electrical laminates and flooring & paving are expected to generate substantial growth in the market. Additionally, heightened R&D efforts towards enhancing epoxy resin reactivity, coating performance and flexibility and development of innovative products for specific industry needs will boost prospects in the medium-to-long term. Future growth for epoxy resin is forecast to stem exclusively from emerging economies of Asia-Pacific, Latin America and Eastern Europe. Asia-Pacific, buoyed by rapid industrialization, production and demand from China is well positioned as the single largest regional market for epoxy resins, garnering the lion's share of the worldwide sales. The region is also forecast to display the overall fastest CAGR of about 7.6% through 2017, stemming from robust growth in the construction and automotive sectors in China and India. By end-use segment, the paints and coatings market registered largest market gains, sustained by heavy demand from solvent-based paints and coatings sector.

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