According to the research report titled ‘Global Epoxy Resins Market 2021-2028’, available with Market Study Report, global epoxy resins market is projected to register a CAGR of 5.01% over 2021-2028.
 

Escalating demand from aerospace sector and thriving paints & coatings industry are accelerating global epoxy resins market growth. Moreover, technological advancements in line with increasing R&D activities are positively impacting the market growth.
 

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Growing adoption of modified resins, expanding wind energy sector, and rising inclination towards utilization of natural raw materials for epoxy resins production are anticipated to present new opportunities in the forthcoming years.
 

On the contrary, volatile raw material prices, availability of substitutes, and concerns regarding health hazards linked with BPA-based products are proving to challenges for businesses functioning this domain, claims the study.
 

In terms of application scope, the market is split into paints & coatings, construction, electrical & electronics, adhesives, composites, wind turbine, others. Based on raw material, DGBEA, DGBEF, aliphatic, novolac, and glycidyl amine are the segments highlighted in the report. Moving on to component type, the industry is bifurcated into epoxies and hardeners.
 

From a geographical perspective, Asia Pacific holds a coveted position in worldwide epoxy resins market and will continue to serve as a lucrative growth avenue for businesses in the upcoming years. Rapid expansion in electrical and electronics capacity over the past few years, developing infrastructure, and availability of skilled labor at low rates are aiding several big epoxy resin manufacturers in APAC in increasing their production capacity.
 

North America, Latin America, Europe, and Middle East & Africa are the other key regional contributors to the industry progression.
 

Speaking of the competitive landscape, Clariant AG, Nan Ya Plastics Corp., Dow Chemical Co., Sinopec Baling Co., Momentive Performance Materials Holdings LLC, Kukdo Chemical Co. Ltd., Jubail Chemical Industries Co., Huntsman Corp., DuPont de Nemours Inc., Cytec Industries Inc. (Solvay S.A.), Chang Chun Plastics Co. Ltd., BASF SE, Aditya Birla Chemicals Ltd., and 3M Company are the prominent players influencing the global epoxy resins industry dynamics.