Phenolic Resins Global Market Report 2023 – By Type (Resol, Novolac, Others Types), By Application (Wood Adhesives, Molding, Insulation, Laminates, Paper Impregnation, Friction Materials, Refractory Materials, Other Applications), By End-User (Building and Construction, Furniture, Automotive, Electrical and Electronics, Other End Users) – Market Size, Trends, And Global Forecast 2023-2032

The plastic materials are synthetically made final products from polymers and resin is an unprocessed plastic derived from plant oozes. These include nonvulcanizable thermoplastic elastomers, and customized as well as non-customized synthetic resins. The main types of plastic materials and resins are polypropylene-plastic material and resins, high-density polyethylene, polyvinyl chloride, polyethylene terephthalate, polyurethane, low-density polyethylene, polystyrene-plastic material and resins, and other types of plastic material and resins. Polyvinyl chloride is a thermoplastic made of 57% chlorine derived from common salt and 43% carbon derived from ethylene from hydrocarbon feedstocks, sugar crops, crude oil, and natural gas. The applications involved are packaging, housewares, bags, sheets, bottles, fibers, tapes, films, medical materials, and other applications. The end-user industries include the chemical industry, the coating and printing industry, the electronics industry, the food and pharmaceutical industry, and other end-user industries. The global plastic materials and resins market is segmented - 1) By Type: Polypropylene-Plastic Material and Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material and Resins, Other Plastic Material and Resins 2) By Application: Packaging, Housewares, Bags, sheets, Bottles, Fibers, Tapes, Films, Medical Materials, Other Applications 3) By End User Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries The global plastic materials and resins market grew from $800.9 billion in 2022 to $885.95 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The plastic materials and resins market is expected to grow to $1301.4 billion in 2027 at a CAGR of 10.1%. New developments in the packaging industry, such as CO2RE foaming technology, big data, and IoT integration, are expected to drive the market going forward. Convenience features, such as resealable packs, easy-opening, stand-up pouches, and smaller pack sizes for single-servings, are being introduced, and more promotional packs and brand extensions are being developed to ensure customer loyalty. Similarly, the recent development of biodegradable plastics, which degrade naturally from the actions of microorganisms such as bacteria, algae, and fungi, is gaining traction. These developments in packaging will increase the consumption of plastics, which will drive the market's growth. Major companies in the plastic materials and resins market include Dow Inc., Sinopec Limited, LyondellBasell Industries Holdings BV, Whitehead Institute for Biomedical Research, BASF SE, INEOS AG, DuPont Inc., Alpek SA.B. de C.V, Alfa SA.B. de C.V, and Exxon Mobil. Oil price volatility is likely to have a negative impact on the plastic materials and resins market as a significant decline and increase in oil prices negatively impact government and consumer spending. The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria, and the UAE (United Arab Emirates), which are largely dependent on revenues generated through crude oil exports, whereas a significant increase in oil prices has resulted in a spurt in inflation, current account deficit, and fiscal deficit in countries such as India and China, which predominantly import oil. For instance, the Saudi government is expected to cut down its spending from 1.05 trillion riyals ($280 billion) in 2019 to 1.02 trillion riyals ($270 billion) in 2020 and to 955 billion riyals ($255 billion) by 2022 due to a significant decline in revenues generated from oil exports, thereby affecting the market. This high volatility in the oil process is further expected to negatively impact the market going forward. The search for new characteristics for plastic materials and innovations in the manufacturing process have led to the development of various high-performance plastics. For example, smart polymers are materials that can change based on external environmental stimuli. A product that is a result of a combination of nanotechnology and plastic engineering. These products have high electrical conductivity, dimensional stability, and are also flame retardant, along with resistance to scratches, dents, and heat. These new high-performance plastics have gained rapid acceptance and find their applications in the medical, electronics, food packaging, automotive, and aerospace sectors. For instance, some of the major developments in plastic materials include plastics from potatoes and virgin PET from discarded textile fabric and waste bottles. Asia-Pacific was the largest region in the plastic materials and resins market in 2022. North Americawas the second-largest region in the plastic materials and resins market. The regions covered in the plastic materials and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the plastic materials and resins market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The plastic materials and resins market consists of the sales of ryton & kynar, acrylic or polymethyl methacrylate, polycarbonate, and acrylonitrile-butadiene-styrene plastic materials and resins. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The plastic materials and resins market research report is one of a series of new reports from The Business Research Company that provides plastic materials and resins market statistics, including plastic materials and resins industry global market size, plastic materials and resins market regional shares, competitors with a plastic materials and resins market share, detailed plastic materials and resins market segments, market trends and opportunities, and any further data you may need to thrive in the plastic materials and resins industry. This plastic materials and resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the plastic materials and resins industry.

Barrier resins refer to plastics that are used in packaging to prevent the penetration of gases, vapors (water or solvent), or liquids. Barrier resins are plastics used in packaging to prevent the passage of gases (oxygen, carbon dioxide, and nitrogen), vapor (water or solvent), or liquid. The main barrier resin packaging types include flexible packaging and rigid packaging. Flexible packaging is mostly made from plastic, film, foil, and paper and is hence light, compact, and flexible. The different resin types include polyvinylidene chloride, ethylene vinyl alcohol, polyethylene naphthalate, polyamide, polyethylene terephthalate, polyethylene, polypropylene, polyvinyl alcohol, and other resin types used in applications such as food and beverage, pharmaceutical and medical, cosmetics, agriculture, industrial, and other applications. The global barrier resins market is segmented - 1) By Packaging Type: Flexible Packaging, Rigid Packaging 2) By Resin Type: Polyvinylidene Chloride, Ethylene Vinyl Alcohol, Polyethylene Naphthalate, Polyamide, Polyethylene Terephthalate, Polyethylene, Polypropylene, Polyvinyl Alcohol, and Other Resin Types 3) By Application: Food and Beverage, Pharmaceutical and Medical, Cosmetics, Agriculture, Industrial, and Other Applications The global barrier resins market size grew from $3.41 billion in 2022 to $3.61 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the barrier resins is expected to grow to $4.56 billion in 2027 at a CAGR of 6.0%. An increase in demand for the longer shelf life of food products is contributing to the growth of the barrier resins market. There has been an increasing demand for food products with a longer shelf life. Barrier resins are used in the food and beverage packaging industry to protect packed goods from moisture and to prevent gas penetration. They provide enhanced shelf life and consistency and prevent odours and UV rays from entering the container, thus protecting the vitamin content of the food. In 2020, UAE-based FMCG company Truebell saw a threefold increase in demand for long-shelf-life products. The company saw an increase in the popularity of long-shelf-life food products and baking ingredients, along with an increase in the consumption of home-cooked meals. Thus, the growth in demand for a longer shelf life of food products will drive the growth of the barrier resins market. Major players in the barrier resins market are Kuraray Co., Ltd., The Dow Chemical Company, Tenjin Limited, Asahi Kasei Corporation, Solvay International, El du Pont de Nemours and Company, Ineos, Lyondellbasell Industries, Honeywell International Inc., Mitsui Chemicals, Inc., LG Chem, INVISTA, Chang Chun Petrochemical Co., Ltd., Mitsubishi Chemical Corporation, Valspar Corporation, Sabic, Borealis Ag, Sinopec, Braskem S.A., Hanwha Total Petroleum, NOVA Chemicals Corporation, EVAL Europe N.V, Zheijang Juhua Co., Ltd., Toray Industries and Mitsubishi Gas Chemical Company Inc. The development of organic resins is a key trend gaining popularity in the barrier resins market. Major companies operating in the barrier resins market are focused on developing new organic resins that are environmentally friendly and sustainable. For instance, in December 2020, Netherlands-based Royal DSM, a key science-based company involved in health, nutrition, and materials, launched Discovery resins for the packaging industry that are sustainable and plant-based. The SP-6400XP is a part of DSM's Discovery range of resins and emits fewer VOCs and carbon emissions for the printing and packaging industries. In November 2021, IPACKCHEM Group, a France-based manufacturer and distributor of plastic packaging products, signed an agreement to acquire Mullackal Polymers. The acquisition is expected to enable IPACKCHEM to build a solid presence in the huge and rapidly expanding Indian market and position it for future growth in the country. Mullackal Polymers is an India-based producer of high-quality HDPE and barrier plastic bottles, lids, and measuring cups. Asia-Pacific was the largest region in the barrier resins market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the barrier resins market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the barrier resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The barrier resins market consists of sales of nitrile resins and vinylidene chloride copolymers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The barrier resins market research report is one of a series of new reports from The Business Research Company that provides barrier resins market statistics, including barrier resins industry global market size, regional shares, competitors with a barrier resins market share, detailed barrier resins market segments, market trends and opportunities, and any further data you may need to thrive in the barrier resin industry. This barrier resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Polyethylene terephthalate is a strong, rigid synthetic fiber and resin belonging to the polyester family of polymers and formed by the polymerization of ethylene glycol with terephthalic acid. Polybutylene terephthalate (PBT) resin is a crystalline synthetic resin formed by the polymerization of butanediol and terephthalic acid. Polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resins are used in the manufacture of lightweight plastic for packaging foods and beverages, and soft drinks. The main types of polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market are transparent & non-transparent PET and recycled PET. Transparent PET is non-crystalline PET that is highly transparent. Non-transparent PET is crystalline PET that is opaque in nature. The different PET applications include bottles, films, food packaging, and others. The various PBT applications include electrical & electronics, automotive, consumer appliances, and others. The global polyethylene terephthalate pet and polybutylene terephthalate pbt resins market is segmented - 1) By Type: Transparent And Non-Transparent Pet, Recycled Pet 2) By PET Application: Bottles, Films, Food Packaging, Other PET Applications 3) By PBT Application: Electrical And Electronics, Automotive, Consumer Appliances, Other PBT Applications The global polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market size grew from $39.98 billion in 2022 to $44.26 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market is expected to grow to $63.76 billion in 2027 at a CAGR of 9.6%. An increase in demand for polyethylene terephthalate (PET) in the packaging sector is expected to propel the growth of the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market going forward. The packaging industry is a business that designs and manufactures packaging products. Polyethylene terephthalate (PET) contains characteristics such as clear, long-lasting, chemically inert, and lightweight, which are suitable for making polyethylene packaging products. For instance, according to the National Renewable Energy Laboratory, a US-based national laboratory, in 2021, over 82 million metric tons of polyethylene terephthalate (PET) were manufactured globally each year to make single-use beverage bottles, packaging, garments, and carpets. Therefore, the increase in demand for PET in the packaging sector drives the growth of the polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market. Major players in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market are Saudi Basic Industries Corporation, BASF SE, Indorama Ventures Limited, Mitsubishi Chemical Corporation, Toray Industries Inc., Koninklijke DSM N.V., Jiangsu Sanfangxiang Group Co.Ltd., M&G Chemicals SA, DowDuPont Inc., Nan Ya Plastics Corporation, Reliance Industries Limited, Far Eastern New Century Corporation, RTP Company Inc., Kolon Plastics Inc., Celanese Corporation, and Distrupol Ltd. Product innovations are the key trend gaining popularity in the polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market. Major companies operating in the market are focused on introducing new innovative products with reduced carbon footprints to gain a competitive advantage. For instance, in May 2022, SABIC, a Saudi Arabia-based chemical manufacturing company, launched LNP ELCRIN WF0061BiQ PBT resin, produced from chemically upcycled ocean-bound PET bottles. This compound has the potential to reduce CO2 emissions by up to 14% and cumulative energy demand by up to 25% when compared to glass fiber. It is a potential material for consumer electronics applications such as computer fan housings, vehicle seats, electrical connectors, and enclosures. In June 2022, Alpek, a Mexico-based producer of PET resin and PET sheet, acquired OCTAL Holding SAOC (OCTAL) for a deal amount of $ 620 million. The acquisition strengthens Alpek's global presence and improves its value-added manufacturing offers in PET sheets by adding about one million tons of PET product capacity. OCTAL Holding SAOC is a US-based producer of PET resin for the packaging industry. Asia-Pacific was the largest region in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market in 2022. North America was the second-largest region in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market. The regions covered in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market consists of sales of thermoforming and glass fiber. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market research report is one of a series of new reports from The Business Research Company that provides polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market statistics, including polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market share, detailed polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market segments, market trends and opportunities, and any further data you may need to thrive in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins industry. This polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Polyethylene terephthalate is a strong, rigid synthetic fiber and resin belonging to the polyester family of polymers and formed by the polymerization of ethylene glycol with terephthalic acid. Polybutylene terephthalate (PBT) resin is a crystalline synthetic resin formed by the polymerization of butanediol and terephthalic acid. Polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resins are used in the manufacture of lightweight plastic for packaging foods and beverages, and soft drinks. The main types of polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market are transparent & non-transparent PET and recycled PET. Transparent PET is non-crystalline PET that is highly transparent. Non-transparent PET is crystalline PET that is opaque in nature. The different PET applications include bottles, films, food packaging, and others. The various PBT applications include electrical & electronics, automotive, consumer appliances, and others. The global polyethylene terephthalate pet and polybutylene terephthalate pbt resins market is segmented - 1) By Type: Transparent And Non-Transparent Pet, Recycled Pet 2) By PET Application: Bottles, Films, Food Packaging, Other PET Applications 3) By PBT Application: Electrical And Electronics, Automotive, Consumer Appliances, Other PBT Applications The global polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market size grew from $39.98 billion in 2022 to $44.26 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market is expected to grow to $63.76 billion in 2027 at a CAGR of 9.6%. An increase in demand for polyethylene terephthalate (PET) in the packaging sector is expected to propel the growth of the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market going forward. The packaging industry is a business that designs and manufactures packaging products. Polyethylene terephthalate (PET) contains characteristics such as clear, long-lasting, chemically inert, and lightweight, which are suitable for making polyethylene packaging products. For instance, according to the National Renewable Energy Laboratory, a US-based national laboratory, in 2021, over 82 million metric tons of polyethylene terephthalate (PET) were manufactured globally each year to make single-use beverage bottles, packaging, garments, and carpets. Therefore, the increase in demand for PET in the packaging sector drives the growth of the polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market. Major players in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market are Saudi Basic Industries Corporation, BASF SE, Indorama Ventures Limited, Mitsubishi Chemical Corporation, Toray Industries Inc., Koninklijke DSM N.V., Jiangsu Sanfangxiang Group Co.Ltd., M&G Chemicals SA, DowDuPont Inc., Nan Ya Plastics Corporation, Reliance Industries Limited, Far Eastern New Century Corporation, RTP Company Inc., Kolon Plastics Inc., Celanese Corporation, and Distrupol Ltd. Product innovations are the key trend gaining popularity in the polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market. Major companies operating in the market are focused on introducing new innovative products with reduced carbon footprints to gain a competitive advantage. For instance, in May 2022, SABIC, a Saudi Arabia-based chemical manufacturing company, launched LNP ELCRIN WF0061BiQ PBT resin, produced from chemically upcycled ocean-bound PET bottles. This compound has the potential to reduce CO2 emissions by up to 14% and cumulative energy demand by up to 25% when compared to glass fiber. It is a potential material for consumer electronics applications such as computer fan housings, vehicle seats, electrical connectors, and enclosures. In June 2022, Alpek, a Mexico-based producer of PET resin and PET sheet, acquired OCTAL Holding SAOC (OCTAL) for a deal amount of $ 620 million. The acquisition strengthens Alpek's global presence and improves its value-added manufacturing offers in PET sheets by adding about one million tons of PET product capacity. OCTAL Holding SAOC is a US-based producer of PET resin for the packaging industry. Asia-Pacific was the largest region in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market in 2022. North America was the second-largest region in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market. The regions covered in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The polyethylene terephthalate (PET) and polybutylene terephthalate (PBT) resin market consists of sales of thermoforming and glass fiber. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market research report is one of a series of new reports from The Business Research Company that provides polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market statistics, including polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market share, detailed polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market segments, market trends and opportunities, and any further data you may need to thrive in the polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins industry. This polyethylene terephthalate (PET) & polybutylene terephthalate (PBT) resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Epoxy resin refers to a kind of polymer and prepolymer that is reactive and contains epoxide groups. In the presence of catalysts, these resins either react with one another or with several co-reactants such amines, phenols, thiols, etc. These are used to increase strength, durability, chemical resistance, and adhesion. The main types of applications are paints and coatings, composites, adhesives and sealants, and other applications. Paints and coatings are used in commercial and industrial buildings such as electrical, automotive, and marine applications owing to their mechanical and protective properties, enhance concrete floor, resistance to stains, cracks, and high temperature. Paints and coatings refer to the use of suspension of polymers mixed with colour pigments to provide an aesthetic appearance and safety to the surface. The various physical forms are liquid, solid, and solution. The various types are DGBEA (bisphenol A and ECH), DGBEF (bisphenol F andECH), Novolac (formaldehyde and phenols), and Aliphatic (aliphatic alcohols), Glycidylamine (aromatic amines and ECH), other types. The various end-users are building and construction, automotive, large and heavy vehicles and railroads, general industrial, consumer goods (including sporting equipment), wind power, aerospace, marine, and other end uses. The global epoxy resin market is segmented - 1) By Type: DGBEA (Bisphenol A And ECH), DGBEF (Bisphenol F And ECH), Novolac (Formaldehyde And Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines And ECH), Other Types 2) By Physical Form: Liquid, Solid, Solution 3) By Application: Paints And Coatings, Composites, Adhesives And Sealants, Other Applications 4) By End-User: Building And Construction, Automotive, Large And Heavy Vehicles And Railroads, General Industrial, Consumer Goods, Wind Power, Aerospace, Marine, Other End-Users The global epoxy resin market size grew from $10.64 billion in 2022 to $11.55 billion in 2023, at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global epoxy resin is expected to grow to $15.77 billion in 2027 at a CAGR of 8.1%. The rising demand for epoxy resin from the automotive industry is expected to propel the growth of the epoxy resin market. The automotive industry refers to the design, manufacturing, and selling of motor vehicles that uses epoxy resin to paint the body of automobiles. The use of epoxy resin as a protective coating extends the life of automobiles. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based international trade organization, in 2021, automobile production increased globally by 3%, from 77.8 million produced in 2020 to 80.14 million in 2021. An increase in the production of automobiles increases the need for epoxy resins. Therefore, the rising demand for the automotive industry drives the epoxy resin market. Major players in the epoxy resin market are Sika AG, Olin Corporation, Huntsman International LLC, Kukdo Chemical, Aditya Birla Chemicals, 3M, Sinopec Corporation, Nan Ya Plastics Corporation, Chang Chun Group, BASF SE, Atul Ltd., Solvay SA, Covestro AG, Jiangsu Sanmu Group Co., Ltd., Jubail Chemical Industries LLC, Kolon Industries Inc., NAGASE & CO LTD., and Techstorm. Product innovation is a key trend gaining popularity in the epoxy resin market going forward. Major companies operating in the epoxy resin market are focused on product innovations to strengthen their position in the market. For instance, in April 2022, Hexion Inc., a USA-based chemical manufacturer that develops chemical materials and performance resins, launched the products EPON LY Resin 1810 and EPIKURE LY Curing Agent 3801. These chemicals are used to minimize the yellowing of epoxy coating on household and commercial surfaces to improve performance, cure, lessen air emissions, and increase surface strength. In January 2021, Huntsman Corporation, a USA-based chemical manufacturing company that develops, and markets speciality chemicals, acquired Gabriel Performance Products LLC for a $250 million deal. The acquisition helps Huntsman Corporation to expand its speciality chemical product portfolio and improve its customer base and product reach in North America. Gabriel Performance Products LLC is a USA-based chemical company that manufactures resin coating and composites. Asia-Pacific was the largest region in the epoxy resin market in 2022. The regions covered in the global epoxy resin market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the epoxy resin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The epoxy resin market consists of sales of glycidyl or non-glycidyl epoxy resin. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The epoxy resin market research report is one of a series of new reports from The Business Research Company that provides epoxy resin market statistics, including epoxy resin industry global market size, regional shares, competitors with an epoxy resin market share, detailed epoxy resin market segments, market trends and opportunities, and any further data you may need to thrive in the epoxy resin industry. This epoxy resin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The plastic resins market consists of sales of plastic resins by entities (organizations, sole traders, and partnerships) that are used for making different varieties of plastic products. Plastic resins are the base for all kinds of plastics, they are made to go through different processes, be transformed, and make fit for specific needs. They are mostly utilized by the electrical, and automotive industries for packaging and manufacturing of various parts. The main products of plastic resin are crystalline, non-crystalline, engineering plastic, and super engineering plastic. The engineering plastics constitute a group of plastics that distinguish themselves from the so-called commodity plastics by primarily demonstrating a greatly improved mechanical behavior over a wide range of temperatures, loads, and time. The various resin types include polyethylene, polyvinyl chloride, acrylonitrile butadiene styrene, polycarbonate, polystyrene, polymethyl methacrylate, and polybutylene terephthalate that are used in applications such as packaging, automotive, construction, electrical and electronics, logistics, textiles and clothing, furniture and bedding and medical device. The global plastic resins market is segmented - 1) By Product: Crystalline, Non-Crystalline, Engineering Plastic, Super Engineering Plastic 2) By Resin Type: Polyethylene, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polycarbonate, Polystyrene, Polymethyl Methacrylate, Polybutylene Terephthalate 3) By Application: Packaging, Automotive, Construction, Electrical And Electronics, Logistics, Textiles And Clothing, Furniture And Bedding, Medical Device The global plastic resins market size grew from $672.79 billion in 2022 to $707.76 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global plastic resins is expected to grow to $840.22 billion in 2027 at a CAGR of 4.4%. The rise in the demand for lightweight materials in the automotive and aviation industries is driving the plastic resins market. The lightweight materials have a track record of high performance, achieving the same desired effect as aluminum and steel in terms of safety and durability, while also reducing weight and carbon dioxide emissions in automobiles and airplanes. Plastic resins are a composite blend that is rotationally molded into robust and malleable items that may approximate the appearance of stone and metal materials for a fraction of the cost and weight and are used to manufacture different automotive and aviation parts such as door panels, flooring, and engine components. For instance, the lightweight materials market has its highest share in the aviation industry with 80% in 2020 and in the automotive industry, the lightweight materials share is expected to increase from 30% in 2020 to 70% by 2030. Thus, the increasing demand for lightweight materials in the automotive and aviation industries is driving the growth of the plastic resins market. Major players in the plastic resins market are BASF SE, Saudi Basic Industries Corporation, Dow Inc., Evonik Industries AG, Sumitomo Chemical Co. Ltd., Arkema S.A., Celanese Corporation, Eastman Chemical Company, Chevron Phillips Chemical Co. LLC, Lotte Chemical Corporation, Covestro AG, Toray Industries Inc., Teijin Ltd., Exxon Mobil Corporation, and Mitsui and Co. Plastics Ltd. Recycled plastic resin are shaping the plastic resins market. Companies in the plastic resins market are focusing on developing recycled plastic resins to help their customers in manufacturing sustainable products and hence, expand their market share. For instance, in October 2020, Dow Inc., a US-based commodity chemical company, introduced its first post-consumer recycled (PCR)-rich resin for collation shrink film in North America, enabling companies to use additional post-consumer materials while still preserving application performance. This recycled plastic resin is designed specifically for retail and logistic shrink film applications, it contains shrink film with up to 40% PCR content. In April 2021, Covestro AG, a Germany-based producer of advanced polymers and high-performance plastics has acquired the resins and functional materials business (RFM) from Royal DSM for an undisclosed amount. With the acquisition, Covestro's range of sustainable coating resins has been significantly expanded making the company one of the world's top providers in this fast-growing industry. Royal DSM is a Netherland-based company that manufactures products for the health, nutrition, and materials market. Asia-Pacific was the largest region in the plastic resins market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the plastic resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The plastic resins market consists of sales of xxx. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The plastic resins market research report is one of a series of new reports from The Business Research Company that provides plastic resins market statistics, including plastic resins industry global market size, regional shares, competitors with a plastic resins market share, detailed plastic resins market segments, market trends and opportunities, and any further data you may need to thrive in the plastic resins industry. This plastic resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Specialty resins, also known as commodity resins, are a type of high-performance resins designed to offer superior thermal and chemical resistance to the materials in which they are used. It also offers high tensile strength and impact resistance and is used for applications such as noise control, vibration damping, shock isolation, and cushioning. The main types of specialty resins are epoxy, unsaturated polyester resin (UPR), vinyl, and polyamides. Epoxy resins are polymeric materials that contain more than one three-membered ring, also known as epoxides, and are thermosetting polymers. The most common form of specialty resin is epoxy resin, which is used as an adhesive, sealant, coating binder, and matrix for composite materials. Unsaturated polyester resin (UPR) is the condensation product of unsaturated acids or anhydrides and diols with/without diacids. These are used in the construction and marine sectors, as well as pipes and tanks. Vinyl specialty resins are used in new industrial applications such as coatings, printed circuit boards, metal foil laminates, building materials, automotive parts, rigid foams, and fiber-reinforced composites. Polyamides are a family of thermoplastic polymers that are opaque, high-density polymers with excellent strength and heat tolerance. The various types of functions of specialty resins include protection, insulation, and others. These are used in various sectors such as building and construction, automotive, water treatment, marine, electrical and electronics, aerospace, and others. The global specialty resins market is segmented - 1) By Resin Type: Epoxy, Unsaturated Polyester Resin (UPR), Vinyl, Polyamides 2) By Function: Protection, Insulation, and Other Functions 3) By End Use Industry: Building and Construction, Automotive, Water Treatment, Marine, Electrical and Electronics, Aerospace, and Other End Use Industries The global specialty resins market size grew from $7.97 billion in 2022 to $8.56 billion in 2023, at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global specialty resins is expected to grow to $10.62 billion in 2027 at a CAGR of 5.6%. The growth in demand for the construction industry is projected to fuel the growth of the specialty resins market over the coming years. Construction is a wide industry that involves anything from mining, quarrying, and forestry to infrastructure and building construction, product manufacturing and supply, and repair, service, and disposal. Epoxy resin, a form of specialty resin, is used in the manufacturing of coatings, adhesives, flooring, plastics, primers and sealers, paints, and other building and construction products and components. For instance, in November 2022, according to the Office for National Statistics, a UK-based statistics authority, in volume terms, monthly construction output increased by 0.4% in August 2022, the second consecutive increase after July 2022's upwardly revised increase to 0.1%; in level terms, August 2022 is the second-highest monthly value (El 5,011 million), with May 2022 continuing to be at the highest level since records began in January 2010 (El 5,035 million). Therefore, the growth in demand for the construction industry drives the growth of the specialty resins market. Major players in the specialty resins market are Aldex Chemical Company Limited, Radiant Color NV, Huntsman International LLC, Purolite, Mitsubishi Chemical Corporation, Thermax Limited, International Speciality Chemicals Ltd., BASF SE, Emerald Performance Materials, Arkema, Royal DSM, Pure Resin, Kolon Industries, Suqing, and Specialty Resin Chemical. Technological advancement has emerged as a key trend in the specialty resins market. Major players in the specialty resins industry are focused on developing technologically advanced specialty resin solutions.For instance, in September 2020, Allnex, a Germany-based producer of industrial coating resins, introduced PHENODUR PR 616/65B, a modern, environmentally friendly phenolic resin with a very low free formaldehyde value of less than 0.1%. In BPA-NI applications, PHENODUR PR 616/65B can be combined with high molecular weight polyester or high molecular weight epoxy resins for stable and versatile packaging and drum lining. In November 2020, Jacobi, a Sweden-based supplier of activated carbon, ion exchange resins, and mobile filter services, acquired Finex for an undisclosed amount. Through this acquisition, Jacobi broadens its portfolio of ion exchange resins. Finex is a Finland-based developer and manufacturer of chromatographic separation resins and specialty polymers. Asia-Pacific was the largest region in the specialty resins market in 2022. Europe was the second-largest market in the specialty resin market. The regions covered in the specialty resins market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the specialty resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The specialty resins market consists of sales of specialty resins by type, including specialty thermoplastic composites, specialty thermoplastics, and specialty thermosets. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The specialty resins market research report is one of a series of new reports from The Business Research Company that provides specialty resins market statistics, including specialty resins industry global market size, regional shares, competitors with a specialty resins market share, detailed specialty resins market segments, market trends and opportunities, and any further data you may need to thrive in the specialty resins industry. This specialty resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A cast resin dry type transformer is a dry type of transformer that does not use liquid for insulation with the primary and secondary windings encapsulated with epoxy resin. The cast resin offers protection against adverse ambient conditions and is generally smaller in dimensions and lighter in weight. They are used in commercial, industrial, and residential settings for indoor and outdoor applications. Cast coil transformers are better in respect of impulse voltage withstand strength compared to conventional dry type transformers. It converts alternating current from one voltage to another voltage. The main types of cast resin dry-type transformers include converter transformers and rectifier transformers. A converter transformer is used in industries to convert alternating current (AC) to direct current (DC). The different cooling types for cast resin dry-type transformers are natural air cooling and forced air cooling. The cast resin dry type transformers' phases include single phase, three phase, and low voltage and medium voltage. The different applications of cast resin dry type transformers include industrial, commercial, and others. The global cast resin dry type transformer market is segmented - 1) By Type: Converter Transformer, Rectifier Transformer 2) By Cooling Type: Natural Air Cooling, Forced Air Cooling 3) By Phase: Single Phase, Three Phase 4) By Voltage: Low Voltage, Medium Voltage 5) By Application: Industrial, Commercial, Other Applications The global cast resin dry type transformer market size grew from $3.27 billion in 2022 to $3.19 billion in 2023 at a compound annual growth rate (CAGR) of -2.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the cast resin dry type transformer is expected to grow from $2.98 billion in 2027 at a CAGR of -1.7%. An increase in demand for electricity is expected to drive the cast resin dry type transformer market. Cast resin dry type transformers are actively used in converting the voltage of the current to the required industry specifications. They are used for a variety of electrical applications, including lowering the voltage of electric current for traditional power circuits in order to run low-voltage devices and raising the voltage of electric current present in generators in order to transport electricity over great distances. According to the International Energy Agency (IEA), electricity demand will be five times higher in 2021 than it was in 2020, totaling over 1000 TWh.Additionally, global electricity demand is expected to increase by 4% in 2022. Hence, the increasing demand for electricity is expected to drive the cast resin dry type transformer market. Major players in the cast resin dry type transformer market are Kirloskar Electric Co., Ltd., Schneider Electric, Siemens AG, ABB, BHEL, Crompton Greaves Ltd., Eaton Corporation, Fuji Electric, General Electric, Hammond Power Solutions, Hitachi Ltd., Voltamp Transformers, WEG Group, Hyosung Heavy Industries, Legrand, PI, Cast-RESIN and Power Sp. z o.o. The use of (Internet of things) IoT enabled cast resin dry type transformers is a key trend gaining popularity in the market. The use of IoT connectivity ensures the identification of poor quality electrical connections with thermal monitoring, thus extending equipment life and reducing maintenance expenses as well as downtime. For instance, French energy and automation digital solutions company Schneider Electric offers dry-type cast resin transformers with real-time visibility of equipment health for enhanced performance and long service life. Real-time thermal monitoring of devices allows users to detect any issues immediately and take preventative actions to avoid unplanned downtime. In October 2021, Prolec GE, a Mexico-based subsidiary of General Electric that designs and provides solutions for the generation, transmission, and distribution of electrical energy, acquired SPX's transformers for a deal amount of $645 million. The deal provides Prolec GE with a wider array of innovative and sustainable solutions for the distribution of electrical energy to the developing American market. SPX Transformers is a United States-based company that manufactures dry transformers, transformer components, and provides transformer service solutions. Asia-Pacific was the largest region in the cast resin dry type transformer market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cast resin dry type market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the cast resin dry type transformer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The cast resin dry type transformer market consists of sales of electrical transformer, auxiliary, isolation, lightning, excitation and rectifier. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The cast resin dry type market research report is one of a series of new reports from The Business Research Company that provides cast resin dry type market statistics, including cast resin dry type industry global market size, regional shares, competitors with a cast resin dry type market share, detailed cast resin dry type market segments, market trends and opportunities, and any further data you may need to thrive in the cast resin dry type industry. This cast resin dry type market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.