Global Epoxy Resins Market to Rise 8%
The global epoxy resins construction market generated a revenue of $1,731 million in 2016.
The global epoxy resins construction market generated a revenue of $1,731 million in 2016 and is anticipated to contribute $3,624 million by 2025, growing at a compound annual growth rate (CAGR) of 8.69%, according to “Global Epoxy Resins Construction Market Forecast 2017-2025,” a recent report from Research and Markets.
Allegedly owing to its physical and chemical properties such as low curing time, excellent chemical resistance high strength and flexibility the epoxy resin material has shown extensive use in various applications such as coatings, adhesives, composites, construction material, and so on. The construction industry contributes to over 20% market share in the market
Increased research and development projects and activities by the top market players and the advancements in the technology for creation of modified resins are expected to create new uses of epoxy resins in various construction applications.
Major restraining factor of the global epoxy resins market is considered to be due to the slow growth in the mature markets of U.S. and Europe, as well as the changes in the price and the demand and supply of the raw materials (such as bisphenol A and epichlorohydrin) used in the production of epoxy resins could affect the market greatly. Due to rising helath concers, these raw materials are now reportedly being substituted by bisphenol F in some of the applications. The availability of alternative resins like polyurethane and phenolic resins are also suggested to prove as a restraining element in the growth of the global epoxy resins market.
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