Asia-Pacific Epoxy Resins Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Raw Material (DGBEA, DGBEF, Novolac, Aliphatic, Glycidylamine, and Other Raw Materials), Application (Paints and Coatings, Adhesives and Sealants, Composites, Electrical and Electronics, Wind Turbines, and Other Applications), and Geography (China, India, Japan, South Korea, ASEAN Countries, and Rest of Asia-Pacific)

Market Snapshot

Asia-Pacific Epoxy Resins Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: >5 %

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Market Overview

The market for Asia-Pacific epoxy resins is expected to grow at a CAGR of over 5% globally during the forecast period. Strong growth of the construction industry and riding demand for electrical and electronic devices are driving the market growth.

  • Health impacts of epoxy on health and impact of COVID-19 pandemic are expected to hinder the growth of the market.
  • China dominated the Asia-Pacific epoxy resins market followed by India and Japan.

Scope of the report

The Asia-Pacific 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
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific

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Key Market Trends

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 Asia-Pacific 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.
Asia-Pacific Epoxy Resins Market Volume Share

China Country to Dominate the Market

  • China has the world’s largest electronics production base and offers a tough competition to existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, among others, have the highest growth in the consumer electronics segment of the market, in terms of demand. With increase in the disposable incomes of the middle-class population, the demand for electronic products is projected to increase steadily in the future, thereby, driving the market studied.
  • The electronics manufacturing industry is constantly expanding in China, as a result of low cost and increasing demand of electronics products. With the increase in the disposable income of middle-class population, the demand for electronic products is projected to grow in the near future, thereby, driving the epoxy resins market.
  • Additionally, China is one of the major countries in Asia-Pacific with ample construction activities, with the industrial and construction sectors accounting for approximately 50% of the GDP. This growth in construction industry is expected to drive the market for paints and coatings in its applications through the upcoming years.
  • China’s 13th Five Year Plan started in 2016, and it was an important year for the country’s engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country.
  • Thus, growing demand for paints and coatings industry in constructional activities in Asia-Pacific region, are driving the market for epoxy resins.
Asia-Pacific Epoxy Resins Market Regional Trends

Competitive Landscape

The Asia-Pacific epoxy resins market is partially fragmented in nature with the presence of various players in the market. Some of the major companies in Asia-Pacific epoxy resins market includes 3M, Covestro AG, Hexion, Huntsman International LLC, Olin Corporation, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Strong Growth of the Construction Industry

      2. 4.1.2 Rising Demand for Electrical and Electronic Devices

    2. 4.2 Restraints

      1. 4.2.1 Hazardous Impact of Epoxy on Health

      2. 4.2.2 Impact of COVID-19 Pandemic

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Raw Material

      1. 5.1.1 DGBEA (Bisphenol A and ECH)

      2. 5.1.2 DGBEF (Bisphenol F and ECH)

      3. 5.1.3 Novolac (Formaldehyde and Phenols)

      4. 5.1.4 Aliphatic (Aliphatic Alcohols)

      5. 5.1.5 Glycidylamine (Aromatic Amines and ECH)

      6. 5.1.6 Other Raw Materials

    2. 5.2 Application

      1. 5.2.1 Paints and Coatings

      2. 5.2.2 Adhesives and Sealants

      3. 5.2.3 Composites

      4. 5.2.4 Electrical and Electronics

      5. 5.2.5 Wind Turbines

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 China

      2. 5.3.2 India

      3. 5.3.3 Japan

      4. 5.3.4 South Korea

      5. 5.3.5 ASEAN Countries

      6. 5.3.6 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Aditya Birla Chemicals

      3. 6.4.3 Atul Ltd

      4. 6.4.4 BASF SE

      5. 6.4.5 Chang Chun Plastics Co, Ltd

      6. 6.4.6 Covestro AG

      7. 6.4.7 Daicel Corporation

      8. 6.4.8 Hexion

      9. 6.4.9 Huntsman International LLC

      10. 6.4.10 Jiangsu Sanmu Group Co. Ltd

      11. 6.4.11 Kukdo Chemicals Co. Ltd

      12. 6.4.12 Nan Ya Plastics Corporation

      13. 6.4.13 Olin Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Asia-Pacific Epoxy Resins Market market is studied from 2016 - 2026.

The Asia-Pacific Epoxy Resins Market is growing at a CAGR of >5% over the next 5 years.

3M, Covestro AG , Hexion, Huntsman International LLC , Olin Corporation are the major companies operating in Asia-Pacific Epoxy Resins Market.

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