Published on April 27, 2017
The global epoxy resins construction market collected revenue of US$ 1731 million previous year. And presently the epoxy resin market is growing at a compound annual growth rate of 8.69%.
As per source information, epoxy resin material having low curing time, excellent chemical resistance high strength and flexibility due to this it can be use easily in various applications such as coatings, adhesives, composites, construction material etc. Apart from this the construction industry contributes to around 20% market share in the market.
Some market players have said that they are looking for the new use of epoxy resins in the numerous construction applications with the advancement of technology and creation of modified resins.
As presently epoxy resin market growing rapidly but the major restraining factor in the intensification is the slow growth of mature markets U.S. and Europe along with demand and supply of raw material such as (chemicals phenol and epichlorohydrin) which are upstream in the production of epoxy resin.The availability of alternative resins like polyurethane and phenolic resins are also suggested to prove as a restraining element in the growth of the global epoxy resins market.
Market analysts have suggested that market players have to look new opportunities and solution for the easy availability of raw material which will enhance the easy production of epoxy resin.