[New Report] Flexible Epoxy Resins Market is estimated to be US$ 1424.7 Million by 2032 with a CAGR of 6.5% during the forecasted period-BY PMI
Prophecy Market Insights latest research report on the In Flexible Epoxy Resins Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Sept. 18, 2023 (GLOBE NEWSWIRE) — How big is the Flexible Epoxy Resins Market?
Flexible Epoxy Resins Market accounted for US$ 764 Million in 2022 and is estimated to be US$ 1424.7 Million by 2032 and is anticipated to register a CAGR of 6.5%.
Resins are mixture of organic compounds and are commonly used in injection-molded consumer products and beverage bottles. Epoxies are normally rigid material composed of excellent tensile and shear strength. Flexible epoxy are used for preventing paint from cracking which has given rise in demand from various industries.
Rapid growth in urbanization, industrialization and rising demand from construction industries has become major contribution in market growth. Further, wide use of epoxy in electronics and energy sector due to its high mechanical strength property has given positive impact on market growth. Further, presence of major players and development of new innovative product has foster the demand for Flexible Epoxy Resin market.
- In July 2021, Toray Composite Materials America, Inc., launched the new advanced flexible and highly adaptive ‘2700 Prepeg System’. The new launched Epoxy-based 2700 is featured with high performance and patented resin technology suitable for emerging aerospace programs.
Growing urbanization coupled with residential & commercial construction activities has boost the market growth. Further, rising demand from paints and coating industries across globe has fruitful the demand for Flexible Epoxy Resin market growth over the forecast period.
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|Flexible Epoxy Resins Market Value (2022)||US$764Mn|
|Flexible Epoxy Resins Market Projected Value (2032)||US$1424.7Mn|
|Flexible Epoxy Resins Market CAGR (2022 – 2032)||6.5%|
- North America – U.S., Canada
- Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America – Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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- Growth in End-Use Industries:
The demand for flexible epoxy resins has been driven by various end-use industries such as automotive, aerospace, electronics, construction, and adhesives. As these industries continue to grow, the demand for flexible epoxy resins is expected to increase.
- Advancements in Technology:
Ongoing research and development efforts have led to the development of innovative epoxy formulations with enhanced flexibility, durability, and performance characteristics. These advancements are driving market growth as industries seek materials that can withstand harsh conditions and offer improved properties.
- Increasing Use in Composites:
Flexible epoxy resins are increasingly used in the manufacturing of composite materials. They offer high strength, durability, and flexibility, making them suitable for applications like wind turbine blades, sports equipment, and lightweight aerospace components.
- Supply Chain Challenges:
Disruptions in the supply chain, such as the COVID-19 pandemic, can impact the availability of raw materials and production capabilities, leading to fluctuations in market dynamics.
Questions by Flexible Epoxy Resins Market:
- Which category dominates the market as of now?
- What are the primary drivers behind the market’s growth?
- Who are the top players in the market?
- What is the Flexible Epoxy Resins Market size and growth rate in each specific geographic region or market segment?
- What are the risks and opportunities associated with market scope expansion?
- How might these trends impact the market’s scope and direction?
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