Epoxy Resin Market in North America was Estimated to be $1,154.1 Million in 2014

Date: 2015-07-20

“The report covers the epoxy resin market in North America, and the market is segmented on the basis of application and geography, for a comprehensive analysis of the market. The market data for these applications is given in terms of Volume (KT) and Value (USD Million). The value of the epoxy resin market in North America was estimated to be $1,154.1 million in 2014 and is projected to grow at a CAGR of about 6.2% from 2014 to 2019. 

The North America epoxy resin market has been analyzed based on the current proceedings in the industry at the commercial level. The study provides the value chain analysis with respect to epoxy resin raw materials, manufacturers, and end-users. The value chain describes the key contributors to the materials market at different stages, from product development to end use. It represents the top players who are contributing to the growth and expansion of the North America epoxy resin market.

The impact of different market factors, such as drivers and inhibitors, are also illustrated in the report. This analysis provides insights into the key drivers such as the growth in key end-user industries, development of green and sustainable epoxies, and growing demand from the aerospace sector; and inhibitors such as the maturing of the U.S. market. 

The North America epoxy resin market is also classified based on different applications. The important application industries include paints & coatings, electronic & electrical appliances, and composites, among others. The composites industry is expected to show rapid growth in the future. 

The key companies in this market are Hexion Inc. (U.S), The Dow Chemical Company (U.S), Huntsman Corporation (U.S), and Spolek Pro Chemickou a Hutni Vyrobu A.S. (Czech Republic). These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage, and thereby serve the customers more effectively. Investments in expansion of plant capacities, followed by acquisitions, were the most preferred strategies by the top players in 2012 and 2013. Their strategies to capture the market in the developing economies include expansions and agreements. 

The U.S emerged to be the driving factor for this market, contributing for about 83.9% of the North America demand in 2014. It is the leading country in the consumption of epoxy resin, due to the increased demand of printed circuit boards, which are used in electrical & electronics industries. The other important countries such as Canada and Mexico are projected to witness a significant growth in their respective epoxy resins market, mainly owing to the rising demand from the rapidly-growing construction industries.

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