The global epoxy resin market size was valued at USD 8.70 billion in 2020. The market is anticipated to rise from USD 11.59 billion in 2021 to USD 17.10 billion by 2028 at a 5.7% CAGR during the forecast period 2021-2028. Fortune Business Insights™ has delved into these insights in its latest research report, titled, “Epoxy Resin Market, 2021-2028.”

Epoxy resin is a type of synthetic resin that is created through the polymerization of epoxides. It is a versatile material known for its excellent adhesive and mechanical properties. Epoxy resins are used in a wide range of applications, including construction, electronics, automotive, aerospace, marine, and art.

Here are some key points about epoxy resin:

1. Composition: Epoxy resin consists of two main components—a resin and a hardener. The resin is typically a liquid or semi-liquid substance, while the hardener is a catalyst that initiates the curing process. When the resin and hardener are mixed together, a chemical reaction occurs, resulting in the hardening of the material.
2. Curing Process: Epoxy resin undergoes a curing process, during which it changes from a liquid or semi-liquid state to a solid state. This process is usually triggered by the addition of a hardener or by exposure to heat.
3. Properties: Epoxy resin offers several desirable properties, such as high strength, excellent adhesion, chemical resistance, low shrinkage, and good electrical insulation. It can also be easily modified to achieve specific properties like flexibility, transparency, or increased UV resistance.
4. Applications: Epoxy resin finds extensive use in various industries. In construction, it is used for bonding, coatings, and structural repairs. In electronics, it is employed for encapsulating and protecting components. In art and crafts, epoxy resin is popular for creating glossy coatings on paintings, tabletops, and jewelry. It is also widely used in manufacturing composite materials, such as fiberglass, carbon fiber, and laminates.
5. Safety Precautions: When working with epoxy resin, it is important to follow safety precautions, as the resin and hardener can be toxic and irritating to the skin, eyes, and respiratory system. It is recommended to work in a well-ventilated area, wear protective gloves and goggles, and read and follow the instructions provided by the manufacturer.
6. Environmental Considerations: Epoxy resin is not biodegradable and can have a significant environmental impact if not properly managed. It is important to dispose of unused or cured epoxy resin responsibly, following local regulations and guidelines.

Major Players Profiled in the Market Report:

• Kukdo Chemical Co., Ltd. (South Korea)
• Huntsman Corporation (U.S.)
• Olin Corporation (U.S.)
• Nan Ya Plastics Corporation (Taiwan)
• Hexion Inc. (Westlake Chemicals) (U.S.)
• Chang Chun Group (Taiwan)
• Aditya Birla Chemicals (India)
• Sika Group (Switzerland)
• DIC Corporation (Japan)
• China Petrochemical & Chemical Corporation (China)

COVID-19 Impact

Supply Chain Disruptions to Dent Market Growth

Industry players expect the rampant COVID-19 pandemic to reshape the business dynamics globally. With a halt in the manufacturing activities and postponement of projects, supply chain disruptions of Bisphenol-A (BPA) and epichlorohydrin (ECH) became noticeable. Prominently, stakeholders across construction, automotive and aerospace industries faced the toll with delays in shipments, confined trades and production shifts.

source- https://www.fortunebusinessinsights.com/epoxy-resin-market-106597