According to the needs of various industries, a big part of epoxy resins are used to produce formulated or specialty epoxy resins. Formulated or specialty epoxies are modified epoxies and produced for industry applications, which demand additional qualities such as flame retardancy; more weather, thermal, and chemical resistivity; and high adhesion and strength. Industrial adhesives, aerospace, automotive, sports, and leisure industries are the key consumers of modified epoxies, and the paints & coatings and construction industries are the foremost consumers of basic epoxy resins in the North American region. These end-user industries are expected to drive the demand for epoxy resins during the period of 2014 to 2019.
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The aerospace & defense segment of the North American epoxy resin market is expected to grow at a CAGR of 13.7% from 2014 to 2019, and the composites segment holds over 10% of all structural material used in the aerospace & defense industry. Also, in terms of pricing, epoxies are very competitive to other composite materials such as carbon fiber and polyurethane. This is expected to subsequently increase the demand for epoxy resin in the coming years.
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The U.S. segment holds the largest share of the North American epoxy resin market. This large share of attributed to various factors such as the increased use in industries, including electrical & electronics, paints & coatings, adhesives, construction, and wind turbine. An in-depth profiling of the key players have been conducted, along with the recent developments (including new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their position in the North American epoxy resin market.
The major players in this market include 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).
