The global epoxy resin market is set for solid growth over the next five years and is projected to hit $10.7 billion by the end of 2026, according to ResearchCMFE.
Epoxy resins are mainly used in the manufacture of adhesives, plastics, paints, coatings, primers and sealers, flooring and other products and materials that are used in building and construction applications.
The market, which was worth $7.4 billion in 2019, has been growing at a CAGR of 5.4 per cent during the period 2016 to 2026 on account of new emerging applications, stated the research group.
However, epoxy resin market is highly interlinked and dependant on critical raw materials like epichlorohydrin (ECH) and bisphenol-A. The properties of the cured epoxy resins are dependent on a chemical process called curing or hardening, it added.
The major players in the epoxy resin industry include Olin Corporation; Hexion; Kukdo Chemical; Huntsman Corporation; Aditya Birla Chemicals; 3M Company; BASF; Sinopec Corporation; Sika AG; China Petrochemical Corporation and Macro Polymers.-TradeArabia News Service