North America Epoxy Resin Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Epoxy Resin Market Analysis
The market for North America epoxy resins is expected to grow at a CAGR of over 4% globally during the forecast period. Strong growth of the construction industry is likley to drive the market growth through the forecast period.
- Hazardous impacts of epoxy on health and impact of COVID-19 pandemic are expected to hinder the growth of the market.
- United States dominated the market and is likley to hold the dominance through the forecast period.
North America Epoxy Resin Market Trends
This section covers the major market trends shaping the North America Epoxy Resin Market according to our research experts:
Paints and Coatings Segment to Dominate the Market
- Epoxy resins are reinforced polymer composites, derived from petroleum sources; by themselves, they are the result of a reactive process involving epoxide units.
- These resins are used as binders for coating applications to enhance durability of coating for floor and metal applications.
- Epoxy resins help in the development several properties in coatings, such as strength, durability, and chemical resistance. Its properties and abilities of quick drying, toughness, excellent adhesion, good curing, abrasion resistance, and excellent water-resistivity, make it suitable for providing protection to metals and other surfaces.
- Epoxy powder coatings are used on washers, dryers, and other white goods, on steel pipes and fittings used in the oil and gas industry, water transmission pipelines, and concrete reinforcing rebar, due to their flexible applicability.
- The automotive, marine, and aerospace industries use epoxy coatings as primers for corrosion protection.
- Epoxy coatings can further act as protective coatings to industrial flooring.
- Thus, the rapid growth in the North American paints and coatings industry (mainly automotive and industrial coatings) is expected to propel the growth of the epoxy resins market during the forecast period.
- Such factors are expected to drive the demand for epoxy resins in paints and coatings, thus increasing the growth of the market during the forecast period.
United States Country to Dominate the Market
- The US electronics market is the largest in the world, in terms of size. Furthermore, it is expected to remain as the leading market over the forecast period, due to the usage of advanced technology, backed by an increase in the number of R&D centers and increasing demand from the consumers. The consumer electronics segment has been witnessing a steady growth rate over the past five years.
- There is a significant demand for newer and faster electronic products, due to the rapid pace of innovation, advancement of technology, and R&D activities in the electronics industry in the country. A significant increase is being recorded in the number of manufacturing plants and development centers in the United States, primarily due to the focus on developing high-end products.
- The country holds the world's largest construction industry, which recorded an annual expenditure of over USD 1,306 million in 2019 (a decline of 0.1%, when compared to 2018). The construction industry value has been on a constantly rising path between 2014 and 2018, despite witnessing a slight contraction in 2019.
- However, the total transportation construction value has been witnessing a steady growth in the country, experiencing a growth of over 6% in 2018-2019.
- The drastic outbreak of COVID-19 in the country has led to a downfall in the economic growth, owing to a fall in the consumer spending and business shutdowns.
- Thus, the demand for epoxy resins in United States is expected to be low for the year 2020, but is likely to recover over the forecast period.
North America Epoxy Resin Industry Overview
The North America epoxy resins market is partially fragmented in nature with the presence of various players in the market. Some of the major companies in North America epoxy resins market includes 3M, Covestro AG, Hexion, Huntsman International LLC, Olin Corporation, among others.
North America Epoxy Resin Market Leaders
3M
Covestro AG
Hexion
Huntsman International LLC
Olin Corporation
*Disclaimer: Major Players sorted in no particular order
North America Epoxy Resin Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Strong Growth of the Construction Industry
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Hazardous Impact of Epoxy on Health
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4.2.2 Impact of COVID-19 Pandemic
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Raw Material
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5.1.1 DGBEA (Bisphenol A and ECH)
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5.1.2 DGBEF (Bisphenol F and ECH)
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5.1.3 Novolac (Formaldehyde and Phenols)
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5.1.4 Aliphatic (Aliphatic Alcohols)
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5.1.5 Glycidylamine (Aromatic Amines and ECH)
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5.1.6 Other Raw Materials
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5.2 Application
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5.2.1 Paints and Coatings
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5.2.2 Adhesives and Sealants
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5.2.3 Composites
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5.2.4 Electrical and Electronics
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5.2.5 Wind Turbines
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5.2.6 Other Applications
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5.3 Geography
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5.3.1 United States
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5.3.2 Canada
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5.3.3 Mexico
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5.3.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 3M
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6.4.2 Aditya Birla Chemicals
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6.4.3 BASF SE
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6.4.4 Covestro AG
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6.4.5 Daicel Corporation
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6.4.6 DuPont de Nemours, Inc.
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6.4.7 Hexion
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6.4.8 Huntsman International LLC
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6.4.9 Olin Corporation
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6.4.10 Spolchemie
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Epoxy Resin Industry Segmentation
The North America Epoxy Resins Market report include:
| Raw Material | |
| DGBEA (Bisphenol A and ECH) | |
| DGBEF (Bisphenol F and ECH) | |
| Novolac (Formaldehyde and Phenols) | |
| Aliphatic (Aliphatic Alcohols) | |
| Glycidylamine (Aromatic Amines and ECH) | |
| Other Raw Materials |
| Application | |
| Paints and Coatings | |
| Adhesives and Sealants | |
| Composites | |
| Electrical and Electronics | |
| Wind Turbines | |
| Other Applications |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Epoxy Resin Market Research FAQs
What is the current North America America Epoxy Resins Market size?
The North America America Epoxy Resins Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in North America America Epoxy Resins Market?
3M, Covestro AG , Hexion, Huntsman International LLC and Olin Corporation are the major companies operating in the North America America Epoxy Resins Market.
What years does this North America America Epoxy Resins Market cover?
The report covers the North America America Epoxy Resins Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America America Epoxy Resins Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America America Epoxy Resins Industry Report
Statistics for the 2024 North America America Epoxy Resins market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America America Epoxy Resins analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
