PUNE, India, November 2, 2017 /PRNewswire/ --
The report "Flexible Epoxy Resin Market by Type (Urethane Modified, Rubber Modified, Dimer Acid), Application (Paints & Coatings, Composites, Adhesives), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated at USD 570.9 Million in 2017 and is projected to reach USD 764.0 Million by 2022, at a CAGR of 6.0% between 2017 and 2022.
Browse 76 Market Data Tables and 36 Figures spread through 110 Pages and in-depth TOC on "Flexible Epoxy Resin Market"
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This high growth is fueled by the increasing demand for FERs from various end-use industries such as automotive and building & construction due to the huge requirement for paints & coatings and adhesives from these industries. This growth is mainly due to the rising GDP, growing disposable income, increasing use of composites instead of conventional materials, and increasing number of expansions & other development activities in the regions. Contributions of various automotive associations and companies toward research & development and enhancement of properties of FER such as water and ultraviolet resistance and efficiency are also some of the drivers for the FER market growth.
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The urethane-modified segment is projected to be the largest segment of the market during the forecast period, in terms of both value and volume.
Based on types, the urethane-modified segment is projected to be the largest segment of the FER market, in terms of both value and volume, during the forecast period. It is widely used as FER in the automotive and building & construction industries. The increasing demand for composites in the automotive sector and improved properties of FER, such as flexibility and water resistance, drive the demand for urethane-modified FERs.
The paints & coatings application of FERs is projected to be the largest segment of the market between 2017 and 2022, in terms of both value and volume.
The paints & coatings application is expected to be the largest segment of the Flexible Epoxy Resin Market during the forecast period. As the population rises globally, the demand for related infrastructure (such as buildings) increases. The consumption of FERs in the paints & coatings application is high due to their superior properties, such as low viscosity, chemical resistance, and superior mechanical and electrical properties. These resins are commonly used in floor coating, primer, undercoating, tank lining, waterproof coating in civil construction, and binder coating.
Asia-Pacific is projected to be the largest FER market between 2017 and 2022, in terms of both value and volume.
Asia-Pacific is projected to be the largest market for FER during the forecast period. The demand for FERs is high in the region is due to the large industrial base and high living standard of the population. In addition to this, the increasing use of FERs in the automotive industry and related growth in emerging economies such as India, China, and South Korea also drives the Flexible Epoxy Resin Market growth in the region.
Some of the key players in the Flexible Epoxy Resin Market are Olin Corporation (U.S.), Hexion (U.S.), Kukdo Chemical (South Korea), Aditya Birla Chemicals (Thailand), Huntsman Corporation (U.S.), and DIC Corporation (Japan). New product launches was the major growth strategy adopted by the market players between 2013 and 2017 to cater to the demand for FER in the emerging economies.
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