What Has Been The Historical And Current Growth Of The High-Purity Epoxy Resin Market?
The high-purity epoxy resin market has seen considerable growth due to a variety of factors.
•The market for high-purity epoxy resin has witnessed significant growth in the past few years. It is projected to increase from a value of $1.57 billion in 2024 to $1.66 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%.
The notable growth in the past is credited to the surge in electronics production, growth in the aerospace sector, increased automotive sector expansion, renewable energy initiatives, and advancements in infrastructure.
What Is The Forecast For The High-Purity Epoxy Resin Market By 2029?
The high-purity epoxy resin market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, a significant expansion is projected for the high-purity epoxy resin market, with its value expected to reach $2.13 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 6.4%.
This anticipated surge during the projected period can be credited to persistent enhancements in electronics, ballooning demand in the medical devices sector, emphasis on eco-friendly materials, proliferating wind energy setups, and breakthroughs in aerospace materials. Key trends for the forecasted period encompass focus on bio-sourced epoxy resin, strict quality norms and regulations, creativity in epoxy resin uses, global integration of supply chains, and relentless R&D pursuits.
What Are The Essential Drivers Behind The Growth Of The High-Purity Epoxy Resin Market?
The high-purity epoxy resin market is poised for growth, driven by the expansion of the electronics sector, which includes semiconductors. The electronics sector encompasses industries that produce household electrical appliances and electronic components for a variety of products, including circuit boards, semiconductors, televisions, and handheld devices. High-purity epoxy, an ideal replacement for wooden or metallic material resins, is employed in the assembly of semiconductor packages. These packages deliver physical security, mechanical strength and several desired operational features depending on the application or the position of the semiconductor in the final product. According to the Semiconductor Industry Association (SIA), a US-based organization that advocates for the semiconductor industry, global semiconductor sector sales hit a record $574.1 billion in 2022, an increase of 3.3% from $555.9 billion in 2021. Thus, describing the growth of the electronics sector, including semiconductors, as a key driver for the high-purity epoxy resin market would be an accurate assertion.
How Is The Global High-Purity Epoxy Resin Market Divided Into Key Segments?
The high-purity epoxy resin market covered in this report is segmented –
1) By Type: Electrical Grade, Optical Grade, Industrial Grade
2) By Application: Semiconductor Encapsulation, Electronic Components, Light Emitting Diode(LED) Packaging, Fiber Optics
3) By End-User Industry: Electronics, Aerospace, Automotive, Communication, Energy
Subsegments:
1) By Electrical Grade: High Dielectric Strength Epoxy Resin, Low Viscosity Electrical Grade Epoxy Resin
2) By Optical Grade: Transparent Optical Grade Epoxy Resin, UV-Curable Optical Grade Epoxy Resin
3) By Industrial Grade: General-Purpose Industrial Grade Epoxy Resin, Specialty Industrial Grade Epoxy Resin
Pre-Book The High-Purity Epoxy Resin Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The High-Purity Epoxy Resin Market?
The high-purity epoxy resin market is witnessing a rising trend of product innovation. Several significant players in this market are introducing groundbreaking products in an effort to increase their market footprint. Hexcel Corporation, an American producer of epoxy resins and structural materials, is an example of such innovation. In May 2022, they introduced the HexPly Nature Range, a new product line consisting of HexPly M49, M78.1-LT, and M79 bio-derived epoxy resin components. These components not only retain superior properties but also provide strong mechanical performance and uniform processing characteristics. Moreover, the HexPly Nature Range provides pre-preg options strengthened with natural fibers that are fairly simple to integrate into existing manufacturing procedures. These are utilized to devise material solutions for sectors like automotive, winter sports, marine, and wind energy.
Who Are the Key Players in the High-Purity Epoxy Resin Market?
Major companies operating in the high-purity epoxy resin market include:
• Dow Inc.
• Mitsubishi Chemical Corporation
• 3M Company
• Sika AG
• Nan Ya Plastics Corporation
• Olin Corporation
• Huntsman Corporation LLC
• DIC Corporation
• Aditya Birla Chemicals Limited
• Kolon Industries Inc.
• ADEKA Corporation
• Nippon Kayaku Co. Ltd.
• Kukdo Chemical Co. Ltd.
• Hexion Inc.
• Osaka Soda Co. Ltd.
• Atul Ltd.
• TIGER Coatings GmbH & Co. KG
• Momentive Inc.
• Reichhold LLC
• Guangzhou Lushan New Materials Co. Ltd.
• Nanjing Hongbaoli Corp Ltd
• Allnex Belgium NV
• Nama Chemicals Company
• Incorez Ltd.
• Epic Resins
• Miller-Stephenson Inc.
• Cardolite Corporation
• Leuna-Harze GmbH
• Chang Chun Petrochemical Co.
• Shina T And C Incorporated Co. Ltd.
What are the Regional Insights into the High-Purity Epoxy Resin Market?
Asia Pacific was the largest region in the high-purity epoxy resin market in 2024. The regions covered in the high-purity epoxy resin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
