Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| Growth Rate | 4.00% CAGR |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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South America Epoxy Resin Market Analysis by Mordor Intelligence
The South America Epoxy Resins Market is expected to register a CAGR of greater than 4% during the forecast period.
- Impact of COVID-19 pandemic is likley to hinder the growth of the South America epoxy resins Market.
- Brazil dominated the South America epoxy resins market and is likley to continue through the forecast period.
South America Epoxy Resin Market Trends and Insights
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 South 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 South America epoxy resins market during the forecast period.
Brazil Country to Dominate the Market
- Over the past few years, Brazil had a volatile economy, with a GDP growth of -3.3%, 1.1%, and 1.1% in 2016, 2017, and 2018, respectively. The political instability, high inflation, low prices of export of goods, and decreased confidence levels have resulted in the contraction of the country's economy. The country's economy has witnessed a GDP growth of less than 1% in 2019, and no further growth in economy is expected to be witnessed in 2020, owing to the declining economic growth due to COVID-19 impact.
- Currently, Brazil's infrastructure accounts for a very small proportion of the overall country's GDP and there are major gaps in the infrastructure sector of the country, majorly in the transportation and energy sector that are needed to be addressed.
- In mid-2019, the Brazilian Ministry of Infrastructure proposed over 50 projects, including highways, airports, ports, and other segments, in order to be granted to the private sector for investments and development of infrastructure in the country.
- The Government of Brazil has been initiating programs to increase the public financing for construction projects. For example, the Program of Investment Partnerships (PPI) helped to expand and strengthen the relationship between the private sector and the state, with the partnership contracts.
- The sales of consumer electronics appear to have reached saturation in Brazil. Consumers are more careful, while buying expensive products, and this behavior is expected to continue in the coming years. However, many categories were helped by the sale of various expensive items, such as 4K television. Despite the challenging situation, Samsung and LG, are continuing to strengthen their positions in the country.
- Thus, the demand for epoxy resins in Brazil is expected to grow during the forecast period.
Competitive Landscape
The South America epoxy resins market is partially fragmented in nature with the presence of various players in the market. Some of the major companies in South America epoxy resins market includes 3M, Covestro AG, Hexion, Huntsman International LLC, Olin Corporation, among others.
South America Epoxy Resin Industry Leaders
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3M
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Covestro AG
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Hexion
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Huntsman International LLC
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Olin Corporation
- *Disclaimer: Major Players sorted in no particular order
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South America Epoxy Resin Market Report Scope
The South 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
| Brazil |
| Argentina |
| Chile |
| Columbia |
| Rest of South America |
| 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 | Brazil |
| Argentina | |
| Chile | |
| Columbia | |
| Rest of South America |
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Key Questions Answered in the Report
What is the current South America Epoxy Resins Market size?
The South America Epoxy Resins Market is projected to register a CAGR of greater than 4% during the forecast period (2025-2030)
Who are the key players in South America Epoxy Resins Market?
3M, Covestro AG, Hexion, Huntsman International LLC and Olin Corporation are the major companies operating in the South America Epoxy Resins Market.
What years does this South America Epoxy Resins Market cover?
The report covers the South America Epoxy Resins Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South America Epoxy Resins Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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