Epoxy Resin Market Global Trends And Revenue Growth Up To 2030

Epoxy Resin Market Summary

The global epoxy resin market size was estimated at USD 11.25 billion in 2023 and is anticipated to reach USD 16.87 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2030. The market growth is primarily driven by the increasing demand for paints and coatings across multiple industries. Epoxy resins are widely used for their strong adhesive properties, chemical resistance, and durability, making them essential in applications ranging from construction and automotive to industrial maintenance.

The rising demand for epoxy resins is largely attributed to growing investments in the construction sector, particularly residential projects in North America and Western Europe. Additionally, the rapid expansion of global manufacturing activities is driving demand for paints and coatings, which are extensively used in the production of motor vehicles, durable goods, and industrial maintenance applications. This trend is expected to significantly boost epoxy resin consumption worldwide. In Asia Pacific, the market is particularly strong, fueled by rising demand from major economies such as China and India. Infrastructure development, growing automotive production, and increased disposable income in the region are key factors supporting the paints and coatings sector, thereby driving epoxy resin demand.

Key Market Trends & Insights

• In 2023, the Asia Pacific epoxy resin market dominated the global market, accounting for the largest revenue share of 59.11%. The region’s leadership is attributed to its large-scale industrial and infrastructure activities, rapid urbanization, and expanding automotive and manufacturing sectors.
• Within Asia Pacific, China emerged as the dominant market in 2023, reflecting the country’s significant industrial output, construction activities, and expanding automotive production. The high adoption of epoxy resin in paints and coatings applications further strengthens China’s market position.
• By application, the paints and coatings segment led the market in 2023, accounting for a 37.41% revenue share. This underscores the importance of epoxy resins in providing durable, corrosion-resistant, and aesthetically appealing finishes for buildings, vehicles, and industrial equipment.

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Market Size & Forecast

• 2023 Market Size: USD 11.25 Billion
• 2030 Projected Market Size: USD 16.87 Billion
• CAGR (2024-2030): 6.3%
• Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights

Key companies are adopting several organic and inorganic growth strategies, such as new product development, mergers & acquisitions, and joint ventures, to maintain and expand their market share.

Key Players

• 3M
• Aditya Birla Management Corporation Pvt. Ltd.
• Atul Ltd
• BASF SE
• Solvay
• Huntsman International LLC
• KUKDO CHEMICAL CO., LTD.
• Olin Corporation
• Sika AG
• NAN YA PLASTICS CORPORATION
• Jiangsu Sanmu Group Co., Ltd.
• Jubail Chemical Industries LLC
• China Petrochemical & Chemical Corporation (SINOPEC)
• Hexion
• Kolon Industries, Inc.
• Techstorm
• NAGASE & CO., LTD.

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Conclusion

The global epoxy resin market is expected to grow steadily, driven by increasing demand for paints and coatings, expanding construction activities, and rising industrial manufacturing. Asia Pacific, led by China, currently dominates the market due to strong infrastructure development and robust automotive production. The paints and coatings application remains the largest segment, reflecting the widespread use of epoxy resins for durability and protection. As global urbanization, industrialization, and disposable incomes rise, the demand for high-performance epoxy resins will continue to grow. Technological innovations, sustainable production methods, and expanding applications are expected to further propel market growth worldwide.