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The Global Flexible Epoxy Resin Market size is estimated to grow by USD 203.55 million between 2022 and 2027 exhibiting a CAGR of 6.35%. Flexible-type epoxy resins are thermosetting resins made through copolymerization of an epoxide with another compound having two hydroxyl groups. They have good impact resistance and are flexible. They are suited for applications such as paints and coatings, adhesives, and composites.
The accelerated growth of the market is caused by various factors, including the increasing demand for paints and coatings in the automotive industry, significant growth in the consumer electronics industry, and the increasing demand from the aerospace industry. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for paints and coatings in the automotive industry is a prominent driver boosting market growth. In the automotive industry, paints and coatings play a crucial role in various applications due to their availability and benefits. Automakers prefer them for their durability, gloss, and cost-effectiveness. Flexible epoxy resin-based coatings offer thermal stability and fire resistance, while acrylic- and epoxy-based enamels form a durable shell upon drying. Waterborne coatings are widely favored by automotive OEMs. The adoption of strong, safe, lightweight, and fuel-efficient vehicles is expected to increase during the forecast period, driven by technological advancements in North America and Europe. Growing consumer purchasing power in developing countries like India and China will boost the automotive industry, driving demand for paints and coatings and, subsequently, the global market.
Increasing focus on bio-based and eco-friendly resins is a key trend shaping the market. The demand for bio-based epoxies is rising due to the availability of renewable resources and raw materials like starch and crop derivatives. Bio-based epoxies are widely used for flame-retardant coatings, adhesives, composites, laminates, and electronic materials. These resins are derived from renewable sources, ensuring a stable global supply. As concerns grow over fossil fuel depletion, the focus shifts to sustainable alternatives like bio-based epoxies that reduce greenhouse gas emissions while remaining cost-effective. This trend is expected to drive research and development activities in the market during the forecast period.
Stringent regulations and policies protecting various substrate surfaces is a major challenge hindering market growth. Paints and coatings protect surfaces, but some components can harm the environment. To address this, regulations restrict hazardous substances, leading manufacturers to use lower VOC materials. However, increasing VOC emission regulations hinder market growth. Manufacturers seek eco-friendly solutions to sustain the market.
This report extensively covers market segmentation by Application (paints and coatings, adhesives, composites, electrical laminate, and others), End-user (construction, electrical and electronics, military and defense, automotive, and others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
The paints and coatings segment is estimated to witness significant growth during the forecast period. Flexible epoxy resin-based paints and coatings are used for coating structural parts in the construction, shipbuilding, automotive, infrastructure, and home appliances industries. They also improve the strength, durability, and resiliency of the structure, reducing repainting and refurbishment costs. Moreover, due to high thermal stability, they are ideal for use in high-temperature conditions in commercial and industrial applications. Other advantages of flexible epoxy paints and coatings include excellent ultraviolet-resistant properties.
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The paints and coatings segment was the largest segment and was valued at USD 258.88 million in 2017. Flexible epoxy paints and coatings are used in oil and gas production equipment, heat exchangers, condensers, evaporators, boiler vessels, and wastewater treatment tanks. Furthermore, they are extensively used in the industrial, commercial, electrical, and marine industries. Hence such a wide range of applications will result in fuel market growth of this segment during the forecast period.
APAC is estimated to contribute 66% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The demand for paints and coatings, adhesives and sealants, electronic products, and others is expected to rise due to growth in the construction sector and infrastructure development in the region. Projects like the Odisha Economic Corridor, M6 Motorway Expansion, and Sarawak-Sabah Link Road will drive the demand for adhesives and sealants, fueling the growth of the market. Developing nations like India, Indonesia, and Thailand are investing significantly in infrastructure, further boosting the regional market. Automotive manufacturing companies are also moving to APAC, contributing to the growth of the automobile sector and increasing the demand for paints and coatings, supporting the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Olin- The company offers flexible epoxy resin solutions for the industries like transportation, construction.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
3M Co., Aditya Birla Chemicals, Atul Ltd., Chang Chun Group, Conren Resin Flooring Ltd, DAICEL ChemTech Inc., Daikin Industries Ltd., DuPont de Nemours Inc., Easy Composites Ltd., Hexion Inc., Huntsman International LLC, Kolon Industries Inc., Kukdo Chemical Co. Ltd., Nagase and Co. Ltd., NAMA Chemicals, Olin Corp., Protex International, Shandong Landun New Material Co. Ltd., Solvay SA, and Spolchemie AS
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Market is poised for substantial growth, driven by its widespread application across various industries. With a projected Compound Annual Growth Rate (CAGR), the construction and electrical/electronics sectors are significant contributors to market expansion. Flexible epoxy resins find extensive use in paints & coatings applications due to their toughness, high strength, and excellent elongation rate. Their superior bonding properties, along with fast curing capabilities and high-temperature durability, make them indispensable in demanding environments. As infrastructural investment rises, particularly in smart cities to accommodate urbanization and a growing population, the demand for flexible epoxy resins is expected to surge. This trend aligns with initiatives by institutions like the Institution of Civil Engineers (ICE), fostering innovation to meet the evolving needs of the building and construction industry. Additionally, the increasing middle-class income drives demand for flexible epoxy resin products in various applications, ensuring a promising future for the market.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Flexible Epoxy Resin Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.35% |
Market growth 2023-2027 |
USD 203.55 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.97 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 66% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Aditya Birla Chemicals, Atul Ltd., Chang Chun Group, Conren Resin Flooring Ltd, DAICEL ChemTech Inc., Daikin Industries Ltd., DuPont de Nemours Inc., Easy Composites Ltd., Hexion Inc., Huntsman International LLC, Kolon Industries Inc., Kukdo Chemical Co. Ltd., Nagase and Co. Ltd., NAMA Chemicals, Olin Corp., Protex International, Shandong Landun New Material Co. Ltd., Solvay SA, and Spolchemie AS |
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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