Asia Pacific Dominates Global Epoxy Resins Market
The global epoxy resin market was valued at approximately $8 billion in 2016.
The global epoxy resin market was valued at approximately $8 billion in 2016, according to a recent report from Research and Markets. The electrical and electronics application contributed 24.7% of the total market in 2016.
The epoxy resin market is dominated by Asia-Pacific, which contributes 55.2% of the total market share. Significant growth in the automotive industry in developing economies of the region is expected to boost the market growth.
China is the major producer and consumer globally, consuming almost 35% of the global epoxy resin production. However, the Middle East and Africa and Latin America are expected to grow at the highest compound annual growth rate (CAGR) of 8.6% from 2016-2022. The growth in these regions is expected to be driven by the growing demand from the construction and automotive industries.
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