Epoxy resins are polymers with usually more than one epoxide group. They are produced industrially, usually from petroleum raw materials. The global epoxy resins market is expected to develop rapidly during the period between 2014 and 2020 due to increasing demand for epoxy resins from the electrical and electronics applications.
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The global epoxy resins market is highly concentrated, with clear dominance of the top five companies. A high degree of integration will be displayed by some of the multinational players in the global epoxy resins market in the coming few years. Many leading players in the global epoxy resins market are introducing epoxy resins used for manufacturing electrical laminates for motors, switchgears, insulators, and generators. Thanks to the multiple uses of epoxy resins, the global epoxy resins market is predicted to develop rapidly in the next few years. Some of the key players in the global epoxy resins market are Celanese Corporation, Huntsman Corporation, Kukdo Chemicals Co. Ltd., the Dow Chemical Company, 3M Company, Aditya Birla Chemicals, Nan Ya Plastics Corp, Momentive Speciality Chemicals, BASF SE, and DuPont.
Factors Shaping the Global Epoxy Resins Market Between 2014 and 2020
The global epoxy resins market is segmented on the basis of application and geography. By geography, the global epoxy resins market is divided into regions such as China, Europe, North America, Rest of Asia Pacific, and Rest of the World. In terms of revenue and volume, China dominated the global epoxy resins market in 2013 with a 45% market share. Due to easy availability of raw materials in China, many emerging companies from Japan are relocating their plants to this region.
By application, the global epoxy resins market is divided into paints and coatings, wind energy, electrical and electronics, adhesives, composites, construction, and others. The others sector includes handbags, vinyl gloves, eyeglasses, plastic tooling, and metal protection. In terms of revenue and volume, demand from the global epoxy resins market was dominated by paints and coatings in 2013, with a 42% market share. The paints and coatings segment is expected to maintain its dominant position in the epoxy resins market during the forecast period.
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