Global Epoxy Resin market - Segmented by Product type, Application and Geography - Trends and Forecasts (2015-2020) - Reportlinker Review
NEW YORK, Sept. 17, 2015 /PRNewswire/ -- Global Epoxy Resin market was valued at $6.4 billion in 2014. The market is expected to grow at a CAGR of 7.5% during the forecast period, to reach $9.9 billion by 2020. The growth of this industry is bound with the industrialization in developing economies. A major trend driving the market is the growing demand from paints and coatings industry.
The industry is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the Asia-Pacific region. Currently, China dominates the global market in terms of volume, and accounts for about 45% of the global share as of 2014. In North America, increasing demand for epoxy resins-based composites from the aerospace industry is expected to drive the market.
Epoxy resins are used in a wide range of industries including Paints and coatings, Adhesives, Composites, Electrical & electronics and Wind Turbine. They are increasingly used in aerospace industry as they provide flexibility in designing aerodynamically efficient airframes and help reduce overall weight of an aircraft.
Some of the major players in the market are DOW Chemical Company (U.S.), Momentive Performance Materials Holdings LLC (U.S.), Nan Ya Plastics Corporation (Taiwan), Kukdo Chemical (South Korea), Chang Chun Plastics Co. Ltd. (Taiwan), Huntsman Corporation (U.S.), NAMA Chemicals (Saudi Arabia), Aditya Birla Chemicals (Thailand) Ltd, BASF SE (Germany), and 3M (U.S.).
Drivers
Rapid growth of the epoxy resin market is driven by the growth in end-user industries. Besides that, development in the global wind energy market is also seen as one of the major market drivers for epoxy resins.
Challenges
Rise in raw materials cost and increasing awareness of health hazards associated with BPA-based products are the major challenges faced by the market.
What the report offers
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Read the full report: http://www.reportlinker.com/p03281943-summary/view-report.html
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