Epoxy Resins Market to Surpass $5.8 Billion by 2027
Strong demand from the aviation industry is propelling market growth of epoxy resins, which are widely used as corrosion inhibitors.
The global epoxy resins market was estimated to be valued at more than $3.5 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 6.6% from 2020 to 2027, according to a report published by Coherent Market Insights. On the basis of application, paints and coatings led the global epoxy resins market in 2019 with around 42% of the market share in terms of revenue, followed by electronics/electrical and adhesives, respectively.
Strong demand from the aviation industry is propelling market growth of epoxy resins, which are widely used as corrosion inhibitors. The increasing use of epoxies in the automotive, paint, and marine and shipping industries is also providing opportunities for market growth.