The global market for epoxy resins banks on the multifarious applications of epoxy resins across several industrial, commercial, and residential uses. The epoxy resins having low molecular composition are pre-polymers and the ones with high molecular weight are polymers.
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These resins can be categorized into two grades namely, liquid grades and solid grades. The liquid crystal epoxy resins are synthesized from amines, hydrates or low molecular weight epoxy monomers. The polymers exhibit several vital characteristics including thermal and mechanical properties. They also possess the properties of thermostat materials and liquid crystals. The aforementioned factors make crystal epoxy resins immensely useful for a number of applications in several industries.
The global market for crystal epoxy resins can be segmented based on application, region, and the type of monometer. The sub-segments within these categories play an important role in deciding the overall performance of the market. This is because the wide range of applications of these resins makes the scope of the market extremely expansive.
Transparency Market Research (TMR) has elucidated several factors that contribute to the progress of the market. The researchers of the report analyzed primary, secondary, and tertiary data in order to get an insight into the microscopic aspects of the market. Further, an employable methodology was used to understand the trends and opportunities that are expected to surface in the market. To quantify the growth of the market, the report gives figures with regards to the market value in terms of revenue, market share, growth rate, and regional market share.
The market for epoxy resins is driven by a variety of factors most of which revolve around the vital qualities of these reins. The traditional epoxy resins lack chemical, mechanical, and thermal properties and hence, the epoxy resins spur in popularity due to the presence of these properties. Moreover, the mechanical strength of these resins also makes them popular across several industrial longitudes. Other important properties that propel demand within the market include fracture toughness, easy processing, and low shrinkage.
The aforementioned qualities are not useful for high impact strength applications, which could hamper the growth of the market to a certain extent. However, the applications of these resins are expected to keep soaring the demand within the market. Furthermore, the automobile sector is gradually witnessing a greater application of these resins which provides tremendous opportunities to market players.
The global market for epoxy resins can be segmented into Western Europe, Eastern Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. The market in Asia Pacific is expected to hold lucrative business opportunities on account of the solid base for manufacturing of epoxy resins in China. Even India, Taiwan, and Japan are expected to make substantial contributions to the growth of the market in the coming years. The market in Europe and North America is usually more affluent during summers when there is high demand, and stays on the low side during winters. The Middle East and Africa and Latin America are expected to witness feeble growth.
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The established players in the market are Henkel AG & Co., Huntsman International LLC, Toray Industries Inc., and DIC Corporation. These players are expected to form strategic alliances with regional or local players in order to gain a larger market share, Moreover, core research and development is expected to be the watchword of firms wanting to sustain in the market.