Epoxy Resin Market Overview, Cost Structure Analysis, Growth Opportunities and Forecast to 2028
The global epoxy resin market size was valued at USD 8.70 billion in 2020. The market is anticipated to rise from USD 11.59 billion in 2021 to USD 17.10 billion by 2028 at a 5.7% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Epoxy Resin Market, 2021-2028.”
According to an analysis, epoxy resins have become sought-after across the end-use sectors, including coatings and composites. Industry players are investing in these resins for sealant and adhesive manufacturing. Some of the factors, such as durability and higher resistance, have augured well for the industry outlook.
Key Industry Development
- November 2021: Westlake Chemicals Corporation inked a deal with Hexion, Inc. to acquire its global epoxy business for USD 1.2 billion.
- June 2021: Aditya Birla Chemicals announced plans to invest in expanding its overall epoxy manufacturing capacity by around 125-kilo tons per annum.
Major Players Profiled in the Market Report:
- Kukdo Chemical Co., Ltd. (South Korea)
- Huntsman Corporation (U.S.)
- Olin Corporation (U.S.)
- Nan Ya Plastics Corporation (Taiwan)
- Hexion Inc. (Westlake Chemicals) (U.S.)
- Chang Chun Group (Taiwan)
- Aditya Birla Chemicals (India)
- Sika Group (Switzerland)
- DIC Corporation (Japan)
- China Petrochemical & Chemical Corporation (China)