ALBANY, New York, August 27, 2014 /PRNewswire/ --
Transparency Market Research has published a new report titled "Epoxy Resins Market for Paints & Coatings, Wind Energy, Composites, Construction, Electrical & Electronics, Adhesives and Other applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020." According to the report, the global epoxy resins market was valued at USD 6.64 billion in 2013 and is anticipated to reach USD 10.55 billion at the end of 2020, growing at a CAGR of 6.9% between 2014 and 2020.
Rising global demand for paints & coatings in various industrial applications is one of the major drivers for growth of the epoxy resins market. Additionally, increasing demand for epoxy resins from aerospace and wind energy industries is fueling the epoxy resins market. However, high demand for raw materials of epoxy resins such as bisphenol A from other applications, and volatility in prices is estimated to hamper market growth during the forecast period.
Browse the full Epoxy Resins Market Report at http://www.transparencymarketresearch.com/epoxy-resins-market.html
In 2013, China dominated the global epoxy resins market due to high demand from paints & coatings and electrical & electronics industries. In terms of volume, China accounted for 45.1% of the total epoxy resins market in 2013. Increasing demand for epoxy resins-based composites from the aerospace industry in North America is expected to drive the market in the region. Epoxy resins-based composites provide flexibility in designing aerodynamically efficient airframes. They also reduce the overall weight of an aircraft. Reduction in weight of the aircraft would lead to lower fuel consumption. This, in turn, would decrease CO2 emission. Increasing demand for epoxy resins-based composites from the wind energy industry in Europe is projected to fuel market growth for epoxy resins. The market for epoxy resins in Rest of Asia Pacific is likely to expand at the second-highest growth rate in the next few years.
Paints & coatings emerged as the largest application of the epoxy resins market with over 42% share in 2013. Global demand for epoxy resins in paints & coatings is rising due to excellent physical and chemical properties these offer as compared to other polymers. In terms of volume, demand for epoxy resins for composites application is anticipated to grow at a CAGR of 6.5% from 2014 to 2020. Epoxy resins are primarily used in printed circuit boards in the electrical & electronics application due to their insulation properties. Adhesives application segment is likely to be driven by demand in recreation and mechanical fasteners applications.
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The global epoxy resins market was concentrated, with the top five players accounting for 61.0% of the market in 2013. Key industry participants include the Dow Chemical Company, Nan Ya Plastics Corporation, Momentive Specialty Chemicals Inc., Kukdo Chemical Co. Ltd., Huntsman Corporation, NAMA Chemicals, 3M Company, Ashland Inc., DuPont and BASF SE.
This report segments the global epoxy resins market as follows:
- Epoxy Resins Market - Application Analysis
- Paints & coatings
- Wind energy
- Electrical & electronics
- Others (vinyl gloves, metal protection, handbags, eyeglasses, plastic tooling)
- Epoxy Resins Market - Regional Analysis
- North America
- Rest of Asia Pacific
- Rest of the World
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