epoxy resin
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What Is Epoxy Resin and How Does It Work? Overview of the Market 2022

Epoxy Resin is defined as follows:

It is a reactive prepolymer and polymer that is used in the building business because it includes epoxide groups, and it is a type of prepolymer that is utilised in the construction industry. They react either with one another or with a wide range of co-reactants such as amines, phenols, thiols and other organic molecules when they are in the presence of catalysts.

Epoxy resin has a diverse range of industrial applications that may be found in a variety of sectors. When compared to other types of resin, it offers higher mechanical properties as well as stronger heat and chemical resistance. Therefore, it is only used in the manufacturing of aviation components.

In certain quarters, epoxy resin is referred to as polyepoxides, which is short for polyepoxide resin.

With its outstanding adhesive qualities, epoxy resin may be used in a broad variety of industries, including construction and manufacturing. Due to its resistance to high temperatures and chemical applications, it is an excellent choice for people who want a firm grip when under strain. As a result, epoxy resin may be used on a wide range of materials, including wood, fabric, glass, and china, among others. As a result, epoxy resin is not generally recognised as being water resistant. Experiencing moist or humid conditions over an extended period of time might reduce a material’s resistance to deterioration.

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The Use of Epoxy Resin

Epoxy Resin is used for painting.

Powder coatings, sometimes known as epoxy paint, can be found on a range of household appliances, such as dryers, washers, and stoves, among others. To put it another way, this particular kind of paint is frequently found in commercial contexts such as offices. Epoxy paint is a great choice for appliance painting because it is easy to clean up with water and provides a durable, protective covering that is easy to wipe off. The use of metals such as wrought iron, wrought aluminium, and wrought steel for this painting application is also recommended.

Composite Coatings and Sealants Constructed of Epoxy Resin

Epoxy’s corrosion-prevention properties make it an excellent choice for a wide range of household items that would otherwise corrode over time. Before being used, acidic materials such as paint cans, metal containers, and acidic foods are typically coated with a protective coating.

It is also possible to use epoxy resin as an ornamental flooring material. A layer of epoxy resin is applied on chip flooring, terrazzo flooring, and other aggregate flooring options to provide a protective layer. By reducing the use of pesticides and water, epoxy floors can be considered a more environmentally friendly alternative to conventional flooring.

A general overview of the market

According to the World Economic Forum, the global epoxy resin market was valued at USD 11.62 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.7 percent between 2021 and 2028, with a forecasted value of USD 11.62 billion in 2020. It is anticipated that the market for paints and coatings will grow at a rapid rate over the next several years. The market for epoxy resins has seen significant growth, particularly in residential construction projects, which have primarily taken place in North America and Western Europe. Paints and coatings will continue to be in high demand in the near future due to the need for industrial maintenance, as well as the production of automobiles and other durable goods. This is expected to increase global demand for the commodity, according to forecasts.

Epoxy resins are produced by a variety of companies around the world, including Aditya Birla Chemicals in India, Olin Corporation in the United States, GE Plastics in the United States, Nan Ya Plastics in Taiwan, and Chang Chung Plastics Company Ltd in China, all of which provide raw materials for epoxy resins (Taiwan). Numerous U.S. and Taiwanese companies specialise in epoxy-based products, including Olin Corporation (the largest in the United States), Nan Ya Plastics Company Limited (the second largest in Taiwan), Hexion Inc., and Hexion Plastics Company Limited (the third largest) (Taiwan). BMW (Germany), Daimler (Germany), Boeing (United States), Siemens (Germany), and other companies use the products of these companies in a variety of industries, including automotive, aerospace, construction, wind energy, and others.

Epoxy Resin Market generated earnings of approximately 9.1 (USD Billion) in 2021 and is expected to generate revenues of approximately 14.7 (USD Billion) by 2028, registering a compound annual growth rate (CAGR) of nearly 6.8 percent between 2022 and 2028, according to a study conducted by Zion Market Research.

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