Epoxy

Epoxy Resin Market to Reach USD 15.69 Billion by 2028 owing to High Demand

The epoxy resin market is experiencing significant growth due to the high demand in the construction and automotive industries. In 2021, the market was valued at around USD 9.55 billion, and it is projected to reach USD 15.69 billion by 2028, with a compound annual growth rate (CAGR) of 7.35%.

Epoxy resin is widely used in various applications, including adhesives, coatings, composites, and electrical and electronic components. Its excellent mechanical properties, such as high strength and durability, make it a preferred choice in the construction industry for flooring, concrete repairs, and structural adhesives. Additionally, epoxy resin's resistance to chemicals, heat, and moisture makes it suitable for use in the automotive sector for coatings, primers, and sealants.

The increasing demand for epoxy resin can be attributed to the growth in infrastructure development, rising automotive production, and the growing trend of lightweight vehicles. Moreover, the rising awareness regarding the benefits of epoxy resin, such as its low VOC (volatile organic compound) emissions and eco-friendly nature, is further driving its market growth.

Key Highlights:

• The epoxy resin market is projected to reach USD 15.69 billion by 2028.
• The market is expected to grow at a CAGR of 7.35% during the forecast period.
• Epoxy resin finds extensive applications in the construction and automotive industries.
• Its excellent mechanical properties and resistance to chemicals, heat, and moisture make it a preferred choice.
• The market growth is driven by infrastructure development, automotive production, and the trend of lightweight vehicles.

Overall, the epoxy resin market is witnessing substantial growth and is expected to continue its upward trajectory in the coming years. With its diverse applications and numerous benefits, epoxy resin is set to play a crucial role in various industries, contributing to their development and advancement.