LONDON, Dec. 1, 2016 /PRNewswire/ -- KEY FINDINGS
Owing to its physical and chemical properties such as low curing time, excellent chemical resistance high strength and flexibility the epoxy resin material has shown extensive utility in various applications such as paints and coatings, adhesives, composites, construction material and so on. The global epoxy resin market was valued at $ 7,980 million in 2015.The construction industry contributes to over 20% market share in the market
Increased research and development projects and activities by the top market players and the advancements in the technology for creation of modified resins are expected to create new uses of epoxy resins in various construction applications.
Major restraining factor of the global epoxy resins market is the slow growth in the mature markets of US and Europe. Also the changes in the price and the demand and supply of the raw materials (Bisphenol A and Epichlorohydrin) used in the production of epoxy resins affect the market greatly, though these raw materials are now being substituted by bisphenol F in some of the applications due to rising health concerns. The availability of alternative resins like polyurethane and phenolic resins also prove as a restraining element in the growth of the global epoxy resins market.
Major players of the global epoxy resins market are the Momentive Specialty Chemicals, The Dow Chemical Company, Nan Ya Plastics Corporation, Kukdo Chemicals, and the Huntsman Corporation, Sanmu Group, the Hexion Specialty Chemicals, and many more.
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