The Japan Epoxy Resins market held a market value of USD 193.7 Million in 2022 and is forecasted to reach USD 226.2 Million by the year 2030. The market is expected to witness a CAGR of 2.3% over the projected period. In 2020, around 112 kilo tons of epoxy resin was sold.Epoxy resin is a flexible thermosetting resin produced by copolymerization of an epoxide with another compound which has 2 hydroxyl groups and used in adhesives and coatings. The market is anticipated to be driven by factors such as the increase in demand for lightweight composites and infrastructural development.
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Despite these driving factors, the characteristics disadvantages over alternatives and volatility of raw material prices are estimated to negatively hamper market growth. The COVID-19 pandemic negatively impacted the market growth owing to supply chain disruptions and closure of manufacturing facilities.
Adoption of epoxy resins is increasing in infrastructural development owing to its various applications. These applications include binder in cement & mortars, non-skid coatings, general-purpose adhesives, rigid foams, industrial coatings, solidifying sandy surfaces in oil drilling, fiber-reinforced plastics, and potting & encapsulating media, among others. Therefore, high use in infrastructural development is anticipated to fuel the market growth.
The Japan Epoxy Resins market is segmented into type, form, application, and end user
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DGBEA (Bisphenol A and ECH)
DGBEF (Bisphenol F and ECH)
Novolac (Formaldehyde and Phenols)
Glycidyl amine (Aromatic Amines and ECH)
Aliphatic (Aliphatic Alcohols)
The DGBEA (Bisphenol A and ECH) segment is estimated to hold the largest value share of about 69% owing to its various industrial applications, such as adhesives, coatings, paints, and structural applications. The Novolac (Formaldehyde and Phenols) segment is expected to witness the fastest growth rate of about 3.1% owing to its better chemical resistance as compared to other epoxy resin types.
The liquid segment is expected to account for the largest market share owing to its high usage in various applications. The solid segment is estimated to account for a market volume of around 27.5 kilo tons.
Paints & Coatings
Adhesives & Sealants
The paints and coating segment is expected to account for the largest market share owing to high use of epoxy resin for production of paints and coatings. Adhesives and sealants segment is estimated to witness a growth rate of about 2.3%. Encapsulation segment is anticipated to surpass a market volume of about 21.1 kilo tons by 2027.
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By End User,
Building & Construction
The building and construction segment is expected to account for the largest market share of over 29% owing to increasing demand of epoxy resins in this industry. Aerospace sector is expected to witness the fastest growth rate owing to lightweight nature of epoxy resins. The wind power segment is anticipated to cross a market volume size of about 16.1 kilo tons by 2026.
Key players operating in the Japan Epoxy Resins market include The 3M Company, Aditya Birla Chemicals, Arkema, BASF SE, Covestro AG, Cytec Solvay Industries, DuPont, Evonik Industries, Huntsman International LLC, Jiangsu Sanmu Group, Jubail Chemical Industries, Kukdo Chemical Co. Ltd., MPM Holdings, Olin Corporation, Sinopec Corporation, Sika AG, Hitachi Automotive Sys, Toray International Inc., Dic Corporation, and Kaneka Corporation, among others.
The major 10 players in the market are expected to hold around 76% share of the market. These market players are engaged in mergers & acquisitions, collaborations, and new product launches to strengthen their market presence. For instance, in January 2021, Huntsman Corporation acquired Gabriel Performance Products for strengthening its position in the business of specialty additives and epoxy curing agents for adhesives, coatings, composite, and sealants end-markets.
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The Japan Epoxy Resins market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Japan Epoxy Resins market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- Application Analysis Top customers in Japan, by Application
- End User Analysis Top customers in Japan, by End User
The Japan Epoxy Resins market report answers questions such as:
- What is the market size and forecast of the Japan Epoxy Resins Market?
- What are the inhibiting factors and impact of COVID-19 on the Japan Epoxy Resins Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Japan Epoxy Resins Market?
- What is the competitive strategic window for opportunities in the Japan Epoxy Resins Market?
- What are the technology trends and regulatory frameworks in the Japan Epoxy Resins Market?
- What is the market share of the leading players in the Japan Epoxy Resins Market?
- What modes and strategic moves are considered favorable for entering the Japan Epoxy Resins Market?
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