Epoxy resin is a versatile and widely used type of synthetic polymer that is characterized by its excellent adhesive and bonding properties, high strength, and resistance to chemicals and heat. It is a thermosetting resin, meaning it undergoes a chemical reaction when mixed with a curing agent (often referred to as a hardener) to form a hardened, rigid, and durable material.

The report "Epoxy Resin Market by Physical Form (Liquid, Solid, and Solution), Application (Paints & Coatings, Adhesives & Sealants, Composites), End-Use Industry (Building & Construction, Aerospace, Wind Power, Marine, Consumer Goods) - Global Forecast to 2021", The global epoxy resin market size was projected to reach USD 8.77 Billion by 2021 from the estimated USD 6.31 Billion in 2015, registering a CAGR of 5.77% between 2016 and 2021.

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Key points about epoxy resin:

Composition: Epoxy resins are typically created by polymerizing epoxide monomers through a process called curing. The most common epoxy resin is produced from the reaction between bisphenol-A (BPA) and epichlorohydrin.
Versatile Applications: Epoxy resin finds extensive use in various industries due to its remarkable properties. It is commonly employed as an adhesive, coating, or encapsulating material in construction, aerospace, automotive, electronics, marine, and art applications.
Superior Adhesive Properties: Epoxy adhesives are known for their excellent bonding capabilities, providing strong and durable bonds on various substrates, including metals, wood, concrete, and plastics.
Protective Coatings: Epoxy resin coatings are applied to surfaces to protect them from corrosion, abrasion, and chemical damage. These coatings are prevalent in industrial flooring, marine vessels, and structural applications.
Composite Materials: Epoxy resin is a crucial component in the manufacturing of composite materials, such as carbon fiber and fiberglass composites, which offer high strength-to-weight ratios and are commonly used in aerospace and sports equipment.
Electrical and Electronics: Due to its electrical insulating properties and resistance to heat and chemicals, epoxy resin is widely used in the production of electrical and electronic components, such as circuit boards and encapsulation of electronic devices.
Artistic and Craft Applications: Epoxy resin has gained popularity in the art and crafting community for creating glossy, clear coatings on artwork, jewelry, and resin casting projects.
Safety Considerations: While epoxy resin offers many benefits, it is essential to handle it with care. It may release harmful fumes during curing, so adequate ventilation and personal protective equipment should be used when working with epoxy.
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Paints & coatings is the biggest application segment for the epoxy resin market

The paints & coatings segment is the largest application and is projected to remain the same in the overall epoxy resin market, in terms of volume, during the forecast period. Economic expansion in the developing countries of Asia-Pacific will increase the demand of epoxy resin for paints & coatings application in building & construction and automotive end-use industries.

Building & construction sector expected to be the dominant end-use industry for epoxy resin

Increase in employment, increase in public & private non-residential spending, and rise of green building construction are driving the epoxy resin market in the building & construction end-use industry. Though the growth of this sector has slowed down, it would still provide opportunities for the growth of the epoxy resin market.

Asia-Pacific estimated to be the largest market during forecast period

Asia-Pacific is the largest market for epoxy resin, both in terms of volume and value, followed by North America and Western Europe. China, the U.S., and Germany are the largest producers of epoxy resins the respective regions. Building & construction is the largest consumer of epoxy resins materials in Asia-Pacific. China and Japan have the largest shares of the Asia-Pacific epoxy resin market. The market in India is witnessing the highest growth rate.

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Key players in the epoxy resin market

The key players in the global epoxy resin market are Olin Corporation (U.S.), Nan Ya Plastics Corporation (Taiwan), Huntsman Corporation (U.S.), Hexion Inc. (U.S.), and Kukdo Chemical Co. Ltd. (South Korea) and others.

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