According to China Packaging News, the increasing installed capacity of wind power in many countries around the world and the growing demand in the aerospace industry have made epoxy resins a huge opportunity for development. The growth is expected to be dominated by Asian regions, of which about 36% of epoxy resin was consumed in paints and coatings in 2013.
Recently, market research firm Markets & Markets recently predicted that the global epoxy market will increase from approximately $5.9 billion in 2013 to approximately $9.2 billion in 2019. The compound annual growth rate from 2014 to 2019 is 7.4%. The application of wind power equipment is expected to become its fastest growing market.
Recently, market research firm Markets & Markets recently predicted that the global epoxy market will increase from approximately $5.9 billion in 2013 to approximately $9.2 billion in 2019. The compound annual growth rate from 2014 to 2019 is 7.4%. The application of wind power equipment is expected to become its fastest growing market.
Markets & Markets stated that the Asia-Pacific region has dominated the global phthalic anhydride market in 2013 with a 57% share, followed by Europe (20.6%) and North America (17%). It is estimated that about 36% of epoxy resin was used in paints and coatings in 2013, and the share of electrical and electronic products and construction applications accounted for 22.5% and 9.2% respectively. The report points out that countries’ annual installed wind power generation capacity increases, and The growing demand in the aerospace industry has made epoxy resins a huge opportunity for development.