“The Global HBPA Epoxy Resin Market poised to reach US$ XX Mn by 2025 with a significant CAGR over seven years forecast period 2019-2025” owing to the increasing urbanization and industrialization.
Precision Business Insights (PBI) in its report titled “Global HBPA Epoxy Resin Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global HBPA epoxy resin market was valued at US$ XX Mn in 2018 and projected to reach US$ XX Mn by 2025. The HBPA epoxy resin market is driven by an increase in the need to protect concrete floors in the industrial and commercial facilities. Additionally, the growth of power generation industry is the major factor propelling the growth of HBPA epoxy resin market in developing countries. Most of the raw materials used in the production of HBPA epoxy resin are petroleum-based derivatives, which are vulnerable to fluctuations in commodity prices. However, extravagancy in the price of raw material constraints the growth of market.
Global HBPA epoxy resin market segmented on the basis of physical form and application.
Liquid Form Expected to Dominate the Global HBPA Epoxy Resin Market
Based on physical form, HBPA epoxy resin market is segmented into liquid and solid. The liquid form of HBPA epoxy resin is projected to be the faster-growing segment of the HBPA epoxy resin market, based on physical form. Liquid HBPA epoxy resin has a wide range of application in various industries. These resins are preferably used as they are easy to apply and convenient to use, where there is a spatial constraint. These have more applications in addition to solid epoxy resins.
E&E Coating Application Will Dominate the Revenue Share
Based on application, HBPA epoxy resin market is segmented into E&E coating, industry coating. E&E coating is estimated to be the largest and projected to grow at a significant CAGR during the forecast period. HBPA epoxy resin is largely used in the exterior coating applications of high-voltage electrical machines such as transformers, generators, circuit breakers, and isolators owing to its excellent adhesion. It also has a string resistance to chemicals and weather. HBPA epoxy resin in the E&E coating application is mainly driven by the growing population and increasing urbanization which ultimately resulted in the growth of a strong and reliable power generation and distribution network.
APAC Leads the Global HBPA Epoxy Resin Market
Precision Business Insights (PBI) global HBPA epoxy resin market report analyses the market in different regions of North America, Europe, Latin America, Asia Pacific, and Middle East Africa. According to regional analysis, The APAC HBPA epoxy resin market is projected to grow at the highest CAGR during the forecast period. The continuous rise of HBPA epoxy resins in the manufacturing of products and for exports upsurges the demand for HBPA epoxy resin. Rising population and growing end-use industries have led to innovation and development, making APAC an important industrial hub, globally. High growth and innovation, along with industry consolidations, are expected to lead to the rapid growth of the market in the region.
Business Expansions Play Vital Role in Global HBPA Epoxy Resin Market
Key players have adopted various organic as well as inorganic growth strategies to strengthen their positions in the market. Investment & expansion was among the key growth strategies adopted by these leading players to enhance their regional presence and meet the growing demand for HBPA epoxy resin from emerging economies. For instance, in June 2016, Hexion Inc. expanded its R&D facility. A new analytical laboratory was added to its technology & business center in Stafford, Texas. The expansion caters to the increasing demand for chromatography, spectroscopy, rheology, microscopy, and materials in Hexion’s epoxy, phenolic, and coating resins and forest products divisions.
Key player’s profiles in the report are Hexion (US), Atul Chemicals (India), New Japan Chemical Company (Japan), Aditya Birla Chemicals (India), Kukdo Chemicals (South Korea), Anhui Xinyuan Chemical Company (China), SIR Industriale (Italy), Emerald Performance Material (US), Nagase America Corporation (US), and Huntsman Corporation (US).
By Physical Form
o E&E Coating
o Industrial Coating
o North America
Rest of Europe
Rest of Asia Pacific
o Latin America
Rest of Latin America
o Middle East and Africa
Gulf Corporation Council Counties (GCC)
Rest of MEA