The Asia Pacific epoxy resin industry is set to experience substantial growth, with its value anticipated to rise from USD 4,953.2 million in 2024 to USD 8,496.3 million by 2034. This impressive expansion reflects a robust compound annual growth rate (CAGR) of 5.5% throughout the assessment period. Driven by increasing demand across various sectors such as construction, automotive, and electronics, the region is expected to see a significant uptick in epoxy resin consumption, underscoring its pivotal role in advancing industrial applications and innovations.
The bisphenol-A epoxy resins segment is expected to dominate the Asia Pacific epoxy resin industry through 2034. It will likely hold a volume share of 35.4% by 2024. On the other hand, the novolac epoxy resins segment is set to thrive at a CAGR of 5.3% through 2034.
The epoxy resin industry in Asia Pacific is witnessing steady growth. It is driven by diverse industrial applications. Its key application areas include paints & coatings, adhesives, composite, electrical, molds, and others.
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Epoxy resin-based coatings are widely employed in several industries for applications such as corrosion protection, industrial flooring, concrete repair, and automotive finishes. These coatings provide long-lasting protection against harsh environmental conditions, chemicals, abrasion, and UV radiation. This makes them ideal for demanding applications in diverse sectors such as manufacturing, infrastructure, marine, and automotive.
The Asia Pacific epoxy resin industry is one of the largest and fastest-growing industries globally, driven by the region’s robust economic growth, expanding industrial base, and increasing demand across end-use sectors. With a diverse range of applications and a wide customer base, the industry continues to witness steady growth, supported by infrastructure development, urbanization, and technological advancements.
Key Takeaways from the Report
- The paints and coating segment is projected to thrive at 7% CAGR during the forecast period.
- The construction segment is projected to thrive at 9% CAGR during the forecast period.
- Novolac epoxy resins are anticipated to witness a considerable CAGR of 3% during the forecast period.
- The epoxy resin industry value in ASEAN is anticipated to total US$ 405.9 million by 2034.
- Sales of epoxy resins in South Korea are projected to soar at a CAGR of around 5% during the evaluation period.
“The Asia Pacific epoxy resin industry is poised to witness healthy growth due to escalating environmental regulations and expanding industrial sectors. Policies of government agencies are encouraging more manufacturers to produce epoxy resins.” – says an analyst at Future Industry Insights (FMI).
Competitive Landscape
Aditya Birla Advanced Material / Aditya Birla Grasim, HSCL (Hindusthan Speciality Chemicals), Atul Industries, Macro Polymers, DIC Color & Comfort, Mitsubishi Chemical, Chang Chun Petrochemical, and Nan Ya Plastics Corporation are the leading manufacturers of epoxy resin profiled in the full version of the report.
Recent Development-
- In December 2023, the chemical division of Grasim Industries Limited successfully commissioned additional 123,000 tons of annual capacity of advanced materials (epoxy resins and formulation) manufacturing capacity at Vilayat, Dist. Bharuch, Gujarat.
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Asia Pacific Epoxy Resin Industry Segmentation
By Product Type:
- Bisphenol-A Epoxy Resins
- Bisphenol-F type Epoxy Resins
- Aliphatic Epoxy Resins
- Novolac Epoxy Resins
- Others
By Form:
- Solid
- Liquid
By Application:
- Paints and Coating
- Adhesives
- Composite
- Electrical
- Molds
- Others
By End-use:
- Construction
- Automotive
- Electronics
- Aerospace
- Consumer Goods
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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