The report profiles several leading players of the HBPA epoxy resin market that include Hexion (US), Atul Chemicals (India), New Japan Chemical Company (Japan), Aditya Birla Chemicals (India), and Anhui Xinyuan Chemical Company (China).
“The HBPA epoxy resin market is projected to grow at a CAGR of 5.1%, in terms of value, between 2022 and 2031.”
The market size of HBPA epoxy resin is estimated at USD 1.7 billion in 2022 and is projected to reach USD 2.2 billion by 2031. The growth of this market is attributed to the increase in the need to protect concrete floors in industrial and commercial facilities. Another factor driving the HBPA epoxy resin market is the growth of the power generation industry in developing countries. However, volatility in raw material prices is restraining the growth of the market. Most of the raw materials used in the production of HBPA epoxy resin are petroleum-based derivatives, which are vulnerable to fluctuations in commodity prices. The prices of these raw materials have been highly volatile in recent times, which has affected the growth of the market.
“Liquid form to be the larger segment of the HBPA epoxy resin market, in terms of volume and value.”
The liquid form of HBPA epoxy resin is projected to be the faster-growing segment of the HBPA epoxy resin market, based on physical form. Liquid HBPA epoxy resin is the widely used form as it caters to almost every application. These resins are widely used as they are easy to apply and convenient to use, where there is a spatial constraint. These have more number of applications than the solid epoxy resins.
“The E&E coating application is projected to register the higher CAGR during the forecast period.”
E&E coating is estimated to be the largest and projected to be the fastest-growing application of HBPA epoxy resin during the forecast period. Owing to its excellent adhesion and weather and chemical resistance properties, HBPA epoxy resin is largely used in the exterior coating applications of high-voltage electrical machines such as transformers, generators, circuit breakers, and isolators. The growing population and increasing urbanization have resulted in the growth of a strong and reliable power generation and distribution network, which, in turn, is driving the demand for HBPA epoxy resin in the E&E coating application.
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“APAC is projected to be the largest HBPA epoxy resin market, in terms of volume and value, during the forecast period.”
The APAC HBPA epoxy resin market is projected to grow at the highest CAGR during the forecast period. The continuous rise in the manufacturing of products for use within the region and for exports drives the demand for HBPA epoxy resin. Rising population and growing end-use industries have led to innovation and development, making APAC an important industrial hub, globally. High growth and innovation, along with industry consolidations, are expected to lead to the rapid growth of the market in the region
This study was validated through primary interviews conducted with various industry experts worldwide.
The primary sources were divided into three categories, namely, company type, designation, and region.
- By Company Type – Tier 1: 25%, Tier 2: 50%, and Tier 3: 25%
- By Dsignation – C Level: 30%, Director Level: 20%, and Others: 50%
- By Region – APAC: 30%, Europe: 25%, North America: 20%, South America-15%, and the Middle East & Africa-10%
The report profiles several leading players of the HBPA epoxy resin market that include Hexion (US), Atul Chemicals (India), New Japan Chemical Company (Japan), Aditya Birla Chemicals (India), Kukdo Chemicals (South Korea), Anhui Xinyuan Chemical Company (China), SIR Industriale (Italy), Emerald Performance Material (US), Nagase America Corporation (US), and Huntsman Corporation (US). The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the HBPA epoxy resin market.
The report offers insights into the HBPA epoxy resin market in the key regions. It aims at estimating the size of the HBPA epoxy resin market during the forecast period and projects future growth of the market across the physical form, application, and region segments. The report also includes an in-depth competitive analysis of the key players in the HBPA epoxy resin market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
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Key Benefits of Buying the Report:
The report will help leaders/new entrants in the HBPA epoxy resin market by providing them with the closest approximations of revenues for the overall market and its various subsegments. This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies. The report will also help stakeholders understand the pulse of the market and help acquire information on key market drivers, restraints, challenges, and opportunities affecting the growth of the HBPA epoxy resin market.
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