The global Epoxy Resins Paints Market Growth Accelerated by Strong Demand from the Construction Industry

 

Epoxy Resins Paints Market

Epoxy resins paints are durable coatings that are commonly used in automotive, construction, industrial and protective applications owing to their excellent adhesion, chemical and heat resistance properties. Epoxy resins paints are thermosetting polymers that form a three-dimensional network by reacting with hardeners. Epoxy resins are versatile binders that are used in a wide range of primers, coatings and sealants. They can adhere to various substrates and can withstand harsh weathering better than conventional paints. Epoxy resins paints provide protection from corrosion to metal surfaces and are suitable for marine and offshore applications. The global epoxy resins paints market is estimated to be valued at US$ 12.84 Bn or Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

The epoxy resins paints market is expected to witness high growth owing to increasing demand from the automotive industry. Epoxy resins paints are widely used to coat automotive chassis, bumpers and other metal components due to their excellent adhesion and corrosion resistance properties. They protect vehicles from chemicals, abrasion, moisture and weathering. Additionally, growing oil & gas industry is also fueling the demand for epoxy resins paints as they are suitable for coating pipelines, storage tanks and offshore equipment that require protection from corrosion in harsh environmental conditions. The increasing industrialization and infrastructure development activities worldwide especially in emerging economies are also propelling the market growth.

 

SWOT Analysis

Strength: Epoxy resins offer excellent adhesion properties and can bind to a wide variety of substrates making them suitable for a variety of applications. They also exhibit high chemical and heat resistance compared to other paints. They have longer shelf life and retain their properties over a long period of time.

Weakness: Epoxy resins require special safety equipment for application as they contain hazardous chemicals. They are more expensive than conventional paints which can be a deterrent for customers. Curing epoxy resins also generates heat which can be a safety issue in some applications.

Opportunity: Growing infrastructure development in emerging economies is driving the demand for corrosion and chemical resistant protective coatings. Epoxy resins being versatile can tap into opportunities in flooring, automotive, marine and other industrial sectors. Advances in epoxy resin formulations can help address existing weakness and widen their scope of applications.

Threats: Stringent environmental regulations around the world pertaining to VOC emissions during resin curing poses challenges. Substitutes like polyurethane and acrylic resins competing on cost can erode market share of epoxy resins in price sensitive applications.

 

Key Takeaways

 

The Global Epoxy Resins Paints Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: Asia Pacific region currently dominates the market due to large paints and coatings industry in China and other developing nations. China holds more than 30% share of the global epoxy resins production capacity.

 

Key players operating in the epoxy resins paints market includes 3M,,Aditya Birla Management Corp. Pvt. Ltd.,,Atul Ltd.,,BASF SE,,Solvay,,Huntsman International LLC,,Kukdo Chemical Co., Ltd.,,Olin Corporation,,Sika AG,,Nan Ya Plastics Corp.,,Jiangsu Sanmu Group Co., Ltd.,,Jubail Chemical Industries LLC,,China Petrochemical & Chemical Corporation (SINOPEC),,Hexion,,Kolon Industries, Inc.,,Techstorm,,Nagase & Co., Ltd. Among these, 3M, BASF, Aditya Birla and Sika have the largest market share.


Get More Insights Here

https://www.newswirestats.com/epoxy-resins-paints-market-size-share-growth-outlook-2023/

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