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Epoxy Paints Market

Epoxy Paints Market By Physical Form (Liquid, Solid, and Solution), Source (Petroleum based and Plant based), End-Use Industry (Building & Construction, Aerospace, Wind Power, Marine, Consumer Goods) & Region - Forecast to 2022-2032

Market Insights on Epoxy Paints covering sales outlook, demand forecast & up-to-date key trends

Epoxy Paints Market Overview

The global epoxy paints market is predicted to register a healthy CAGR of 5% during 2022-2032.

“Versatility is one of the key parameters holding the sales of epoxy paints.”

Epoxy paints are usually the epoxy resin available in market for painting and coating of the building walls or floors. Epoxy resins are one of the most versatile compounds that are widely used in the orthophthalic and polyester family. These are also known as polyepoxides, that belong to the category of reactive prepolymers and polymers that contain the epoxide group.

Epoxy resins usually react either with themselves or with other co-reactants which include phenols, acids, alcohols, polyfunctional amines and thiols among others. The raw material required to industrially manufacture epoxy resins are largely derived from petroleum. However, some of the plant derived sources are becoming popular in manufacturing epoxy resins. Epoxy resins being polymeric or semi-polymeric materials and thus, are rarely exist in their pure state.

Attributes

Details

Epoxy Paints Market Value in 2020

US$ 33 Bn

Epoxy Paints Market CAGR (2022-2032)

5%

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What are the Demand Drivers for the Epoxy Paints Market?

“Epoxy paint made from the epoxy resin has occupied a large market in the building and construction Industry as the owners are choosing it as the best floor paint material. It is mostly used in garage floor paint and epoxy pool paint.”

 Epoxy resins are known for their excellent electrical, mechanical and heat resistance properties. The epoxide content in the epoxy resins is the most crucial factor which determines the characteristics of epoxy paints. Different grades of epoxy resins are usually blended with various additives, plasticizers and fillers to get the desired paint quality.

Epoxy resins find wide range of applications in paints and coatings, electrical and electronic components and structural adhesives manufacturing industries. The paint and coatings industry is one of the major applications of the epoxy paints market. 

Growing population coupled with changing lifestyle is expected to boost the overall growth of the construction industry. The growing construction industry is expected to augment the growth of the paints and coatings industry. The paints and coating industry is expected to further grow owing to the rising demand from the automobile industry.

The rising demand for high end luxury automobiles is further expected to enhance the overall growth of the paints and coatings industry. Thus, the growing paints and coatings industry is expected to drive the overall growth of the epoxy paint market. Epoxy resins are widely used by the paints and coating industry on the heavy duty metal substrates.

In addition, paints and coatings containing epoxy resins use less energy than that compared to other heat-cured powder coatings. Moreover, paints and coatings containing epoxy resins are also considered environmental friendly than other chemicals. 

Nikhil Kaitwade
Principal Consultant
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Which is the Key Epoxy Paints Market?

“Manufacturers are coming up with new products like epoxy paint for wood, epoxy paint for metal, epoxy paint for tile, epoxy paint for concrete and many more to capture new market opportunities.”

Asia Pacific is the largest manufacturer of epoxy resins owing to the presence of large manufacturers in China. The presence of many manufacturers coupled with their huge production capacities is expected to boost the overall growth of the epoxy paint market.

Europe is one of the major consumers of the epoxy paints market. The demand for epoxy resins is gradually growing in North America due to the increase in demand for epoxy paint as the flooring material in living space.

Epoxy resins being environmental friendly are further expected to augment the overall demand in the market. Thus, the growing consumer awareness towards environment friendly products coupled with the presence of stringent environmental regulations is expected to further boost the overall growth of the market. The companies are mainly focused towards developing bio based epoxy resins in order to comply with the stringent environmental regulations.  

Momentive Performance Materials, Kukdo Chemical (South Korea), Huntsman Corporation (U.S.), The Dow Chemical Company (U.S.), Atul Ltd (India), Sika AG (Switzerland), Cytec Industries Incorporation (U.S.), DuPont (U.S.), 3M (U.S.), BASF SE (Germany), Aditya Birla Chemicals (Thailand) Ltd, NAMA Chemicals (Saudi Arabia), LEUNA-Harze GmbH (Germany), and Spolchemie A.S. (Czech Republic) among others are expected to some of the major participants of the global epoxy paints market.

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Key Segments

Attributes

Details

Forecast Period

2022-2032

Historical Data Available for

2014-2020

Market Analysis

US$ Bn for Value

By Source

  • Petroleum based
  • Plant based

By Physical form

  • Solid
  • liquid
  • Solution

By Application

  • Building & Construction
  • Aerospace
  • Wind Power
  • Marine
  • Consumer Goods
  • Others

By Region

  • North America
  • Latin America
  • Asia Pacific
  • Japan
  • Western Europe
  • Eastern Europe
  • Middle East & Africa

Key Players

  • Momentive Performance Materials
  • Kukdo Chemical
  • Huntsman Corporation
  • The Dow Chemical Company
  • Cytec Industries Incorporation
  • Aditya Birla Chemicals Ltd.
  • NAMA Chemicals
  • LEUNA-Harze GmbH
  • Spolchemie A.S.

Frequently Asked Questions

The global epoxy paints market is anticipated to register a CAGR of 5% during the forecast period.

The epoxy paints market grew to a valuation of US$ 33 Bn in 2021.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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