MarketsAndMarkets predicts global epoxy resins market to reach $8.4 billion by 2017

MarketsAndMarkets predicts global epoxy resins market to reach $8.4 billion by 2017

Article Type: Industry news From: Pigment & Resin Technology, Volume 42, Issue 1

The report “Global Epoxy Resin Market by Application & Geography – Market Estimates Up To 2017” defines and segments the global epoxy resins market with analysis and forecasting of the global volume and revenue for epoxy resins. It also identifies driving and restraining factors for the global epoxy resins market with analysis of trends, opportunities and issues. The market is segmented and revenues are forecasted on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World. The key countries are covered and forecasted for each region. Further, the market is segmented and revenues are forecasted on the basis of applications.

The global market for epoxy resins in terms of revenue was estimated to be worth around $5.5 billion in 2011 and is expected to reach $8.4 billion by 2017, growing at an estimated CAGR of 7.3 percent from 2012 to 2017. Asia-Pacific is the largest market. The demand for epoxy resins market is expected to rise in Asia-Pacific due to robust growth in end-user industries of China and India.

Epoxy resins are thermosetting polymers and known for their high quality performance in various industrial applications for corrosion protection, thermal stability, mechanical strength, moisture resistivity, adhesion, etc. The epoxy resins market is well correlated to its end-user application industry’s growth and growing R&D efforts in modified epoxy resin field, is widening its reach in industrial applications.

Bisphenol A and Epichlorohydrin are major raw materials in the production of epoxy resins and any change in the demand and supply of these raw materials could have a major impact on the epoxy resin industry.