The Flexible Epoxy Resin (FER) Market was estimated to be worth $ 685.4 million in 2022 and is anticipated to reach $ 854.0 million by 2028, with a CAGR of 6.5%
The flexible Epoxy Resin Market is a liquid resin that exhibits the characteristics of high elongation, high reliability, and flexible toughness. Some examples of commercially available epoxy resins are modified urethane, modified rubber, dimer acid, etc. It is used in various industries such as paints and coatings, adhesives, composites, electrical laminates, tools, etc. It helps the industry in various ways, such as reducing mechanical stress in the bond line in the adhesive industry. In addition, it is used as an electronic pressure-sensitive device in the electrical industry. Flexible epoxy resins are used to make adhesives, sealants, coatings, composites, and flooring products, which are important parts of the building and construction industry.
Epoxy resin adhesives are used to make laminate woods for decks, walls, roofs, and other construction applications, as well as other products that require strong bonds to a variety of substrates such as concrete or wood. These adhesives are more resistant to heat and chemicals than ordinary glues. In coatings, they provide high gloss, durability, and protection to the applied surface. In flooring, flexible epoxy resins are used in decorative and high-performance floors, such as terrazzo floors and chip floors. In the automotive industry, flexible epoxy resins are used in coatings, adhesives, and composites. In composites, flexible epoxy resins are used in the manufacture of lightweight components for use in structural, exterior, and underhood applications. The superior chemical properties of flexible epoxy resins, such as strength, adhesion to metals, and heat resistance, allow optimum use in the application of coatings in the automotive industry. These properties facilitate protective actions such as corrosion resistance, scratch resistance, and escalating vehicle life. The high adhesive strength and improved properties also allow it to be used in adhesive applications in the automotive industry.
Leading manufacturers are focusing on working with local players to improve their product offerings, as well as expanding their geographic footprint, is a major trend seen in the market today. One of the major trends identified in the global flexible epoxy resins market during the forecast period is the introduction of bio-based flexible epoxy resins in the market. Growing economic and environmental concerns, along with the uncertainty that accompanies limited petrochemical resources, have led to a rapid increase in research and development of bio-based polymers and epoxy resins in recent years. Commercial epoxy resins are synthesized from cycloaliphatic epoxides, DGEBA or diglycidyl ethers of Novolac resins. Renewable natural resources, such as starches and vegetable oils, have sparked interest as building blocks for polymers due to their environmentally friendly nature, low cost, and ability to break down epoxy easily, producing bio-based epoxy resins.
There has been significant growth in the paints and coatings industry in developing countries in recent times. The paint and coatings industry includes decorative paints, which are mainly used for commercial and residential purposes, and industrial paints, which are used in end-use industries such as railroads, automobiles, the navy, etc. Coatings with excellent low-temperature flexibility typically consist of about 80% epoxy resin. The combination of awareness of environmental issues and harmful industrial processes as well as the depletion of petroleum-derived resources has prompted research into the development of materials from renewable resources. Therefore, flexible epoxy resins are widely used in the paint and coating industry. Flexible epoxy resins are widely used in adhesives, sealants, fiber-reinforced composites, and in the electronics industry due to their outstanding surface properties such as ease of curing, low shrinkage, good humidity, and excellent adhesion properties.
However, specific harmful effects on human health is the main factor anticipated to restraint the growth of the global Flexible Epoxy Resin market
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2022-2028 |
|
Base Year |
2022 |
|
Forecast Period |
2023-2028 |
|
CAGR |
6.5% |
|
Segments Covered |
|
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America: U.S and Canada Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific Latin America: Brazil, Mexico Middle East & Africa: Saudi Arab, South Africa, UAE |
|
Olin Corporation (U.S.), Hexion (US), Kukdo Chemical (South Korea), Aditya Birla Chemicals (Thailand), Huntsman Corporation (U.S.), and DIC Corporation (Japan), |
The welfare of many end-use industries is positively reflected in the global flexible epoxy resins market. For example, the automotive industry is booming in the emerging economies of India and China and hence the call for flexible epoxy resin products such as skid plates, skirts, bumpers, ducts, and escalated impact plates and panels. Likewise, the building and construction industry is fueled by rapid urbanization in several countries and escalating call for corrosion-resistant metal components. In addition to this, the growing call for electrical and electronic laminates, water-based coatings, flooring and paving, and powder coatings is anticipated to provide traction in the flexible epoxy resin market. On the other hand, the volatility of raw materials and the strict regulations related to epoxy resin production are some of the bottlenecks challenging the thriving global flexible epoxy resin market.
In addition, direct contact with these chemicals can cause unwanted effects in humans such as lung irritation, asthma, skin irritation, headache, eye damage, nausea, and dizziness. , slurred speech, confusion, and loss of consciousness. , which are anticipated to hamper the growth of the target market to some extent during the forecast period.
Urethane Modified
Rubber Modified
Dimer Acid
Paints & Coatings
Composites
Adhesives
Others (tooling, electrical castings, electrical laminates, and fibers)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
The North American market is estimated to account for the largest revenue share of the global flexible epoxy resins market during the forecast period owing to the escalating call for paints and coatings and the application of adhesives in their countries in the region. The European market is anticipated to register the fastest growth rate in terms of turnover due to the high annual production of cars coupled with the growth of infrastructure activities in countries in the region. In addition, Latin America, the Middle East, and Africa markets are anticipated to register moderate growth rates during the forecast period.
The Asia-Pacific region is anticipated to dominate the global flexible epoxy resins market and is also anticipated to be the fastest-growing market during the forecast period. The construction sector in Asia-Pacific is the largest in the world and growing at a steady pace, due to population growth, rising middle-class incomes, and urbanization. In addition, the increase in infrastructure construction activity is one of the main drivers of the construction industry in Asia Pacific. According to the Asian Development Bank, the region needs USD 1.9 trillion per year in infrastructure investments by 2040, to keep pace with its economic growth. In addition, the electronics industry in the region is also on the rise due to the growing call from consumers all over the world. China represents the world's largest electronics production base and offers fierce competition to existing upstream producers such as South Korea, Singapore, and Taiwan. Japan has one of the world's largest electrical and electronic industries and is a major competitor to the United States in semiconductor manufacturing, and is home to Sony and Toshiba, which are global leaders in the industry electronic. Hence, the call for flexible epoxy resins for various applications is anticipated to increase in the Asia-Pacific region during the forecast period.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region