June 23, 2024

Epoxy Resins Paints Market is anticipated to reach environmental sustainability by 2031

The epoxy resins paints market is a highly durable and protective coating used widely in construction, automotive, and industrial sectors. Epoxy resins paints provide excellent chemical and corrosion resistance making them suitable for use in areas requiring high protection against chemicals, heat, moisture and abrasion. The Global Epoxy Resins Paints Market is estimated to be valued at US$ 13.62 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period from 2024 to 2031.

Epoxy resins paints protect equipment and infrastructure from environmental degradation as they form a tough, seamless film on metal, concrete, or other surfaces. They adhere well to almost all substrates and possess flexibility to bridge minor surface defects and gaps. Growing infrastructure development along with rising automotive production is driving the demand for high-performance epoxy resins paints globally. The protective properties, versatility, and environmental sustainability offered by epoxy resins based paints have made them an integral part of several industries.

Key Takeaways
Key players operating in the epoxy resins paints market are Momentive Performance Materials, Kukdo Chemical, Huntsman Corporation, The Dow Chemical Company, Atul Ltd, Sika AG, Cytec Industries Incorporation, DuPont, 3M, BASF SE, Aditya Birla Chemicals Ltd, NAMA Chemicals, LEUNA-Harze GmbH, and Spolchemie A.S. The growing infrastructure development and increasing automotive production around the world are fueling the demand for high-performance epoxy resins paints. Major players are expanding their production facilities globally to cater to the rising needs of construction and automotive industries.

Key players operating in the epoxy resins paints market are Momentive Performance Materials, Kukdo Chemical, Huntsman Corporation, The Dow Chemical Company, Atul Ltd, Sika AG, Cytec Industries Incorporation, DuPont, 3M, BASF SE, Aditya Birla Chemicals Ltd, NAMA Chemicals, LEUNA-Harze GmbH, and Spolchemie A.S. The growing infrastructure development and increasing automotive production around the world are fueling the demand for high-performance epoxy resins paints. Major players are expanding their production facilities globally to cater to the rising needs of construction and automotive industries.

Market key trends
One of the key trends in the epoxy resins paints market is the development of bio-based and environment-friendly products. Stringent regulations regarding VOC emissions have prompted manufacturers to focus on developing sustainable solutions. Major players are investing in R&D to replace fossil fuel-based components with plant-based equivalents to reduce the carbon footprint of their products. Bio-based epoxy resins derived from vegetable oils, bio-alcohols, bio-glycols, and bio-acids are gaining popularity. Such initiatives are expected to boost the ‘green’ credentials of epoxy resins paints and support their increased adoption across diverse end-use industries over the coming years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as adequate capital investments are required to enter this market and it requires technical know-how and expertise. However, low brand loyalty among customers provides scope for new players.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of alternatives such as polyurethane, acrylic and alkyd paints. Buyers can negotiate on price based on the demand-supply situation.

Bargaining power of suppliers: The bargaining power of suppliers is moderate since raw materials required are easily available. However, suppliers of specialized raw materials may exploit their market position.

Threat of new substitutes: The threat of substitutes is high owing to the presence of alternative coating technologies like polyurethane and powder coatings. Price sensitivity among buyers is also a factor.

Competitive rivalry: The competitive rivalry is high due to many established players operating globally and regionally. Players compete based on product quality, price, and innovation.

Geographical Regions
Asia Pacific accounts for the largest share in the epoxy resins paints market in terms of value owing to high consumption in the construction and transportation industries in China, India and other southeast Asian countries.

North America is expected to witness the fastest growth during the forecast period due to increasing refurbishment and maintenance activities in the infrastructure and oil & gas industries in the US and Canada. Growth in the manufacturing sector will further augment demand.

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1.Source: Coherent Market Insights, Public sources, Desk research

2.We have leveraged AI tools to mine information and compile it