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Epoxy resins are chemical compounds used for manufacturing adhesives, paintings, primers, plastics, sealers, and other materials. It is extensively used in construction and for decorative purposes. Epoxy resins are polyepoxides that constitutes of reactive polymers and pre-polymers. There are various types of epoxy resins such as Bisphenol-based epoxy resins and Novolac epoxy resin. The epoxy resins are broadly categorised into normal and uncured epoxy resins. The uncured epoxy resins have poor chemical, mechanical and heat resistant properties. These are made suitable for manufacturing adhesives and other materials by adding curatives through gelation. Epoxy resins are used for various commercial, residential, and industrial-based applications due to their chemical resistance, toughness, strong adhesion, and other specialized properties.
The demand of epoxy resins has increased rapidly with the growth of construction, automobiles, and electronic sectors across the globe. The epoxy resins market has witnessed a high demand which is expected to grow at Compound Annual Growth Rate (CAGR) of 5 percent by the year 2021. The epoxy resin price trend is heavily dependent on the cost of feedstock such as Bisphenol A (BPA) and Enoyl-CoA-Hydratase (ECH). In the recent past, the price of epoxy resins has increased by 16.8 percent and 2.1 percent for markets in the U.S. and Asia respectively. The cheap raw materials and labor cost in Asia has reduced the cost of production of epoxy resins. As a result, Asia has acquired a competitive edge in the global market for epoxy resins.
The key drivers of demand for epoxy
resins in APAC region constitutes of automobiles, construction, and electronic
industries. On the other hand, development projects based on installation of
windmills are the primary drivers for epoxy resins in Europe and North
America.The major supply markets for epoxy resins comprise of North America,
European Union, and APAC. These regions ac… Read More
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