The High-Purity Epoxy Resin Market was valued at $4561 million in 2022 and is anticipated to reach $7380 million by 2030, expanding at a CAGR of 6.43% between 2023 and 2030.
The High-Purity Epoxy Resin market is expected to grow at a moderate rate during the forecast period. Epoxy is a term that refers to the basic components of epoxy resins and their cured end products, as well as the epoxide functional group. Epoxy resins are a type of thermoset material that is widely used in structural and specialty composite applications because they have a specific set of properties not found in other thermoset resins. This growth in the market is attributed to the rise in disposable income of an individual coupled with rapid technological advancements. Semiconductors are the brains of modern electronics, enabling highly advanced technologies in communications, computing, transportation, healthcare and among several other applications.
Likewise, the semiconductor market is a billion-dollar industry which is the major growth driver of the high purity epoxy resin market.
On the other hand, high purity epoxy resin production cost is high which might act as a restraint for the market. Furthermore, stringent regulatory approvals are also expected to pose major barriers for new entrants.
Covid-19 Impact on High-Purity Epoxy Resin Market:
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
High-Purity Epoxy Resin Market Segment Overview
Based on Type, the High-Purity Epoxy Resins market is segmented into electrical grade and others. Among these, electrical grade accounted for the largest share in the global High-Purity Epoxy Resins market, by Type in 2019. Factors such as demand in a wide variety of electronics and electrical encapsulation due to the ease with which the process characteristics and final properties can be varied to meet customer requirement drives the growth of the market.
Based on Application, the global High-Purity Epoxy Resin market is segmented into Electronic Components and Semiconductor Encapsulation. Among these, the Electronic Components application type dominated the overall High-Purity Epoxy Resin market in 2019. Increasing usage of epoxy due to the growing demand for electric vehicles in the market.
Market Analysis, Insights, and Forecast – By Type
· Electrical Grade
· Others
Market Analysis, Insights and Forecast – By Application
· Electronic Components
· Semiconductor Encapsulation
High-Purity Epoxy Resin Market Regional Overview
The regional analysis includes the adoption of High-Purity Epoxy products across North America, Europe, Asia-Pacific (APAC), Latin America Middle East & Africa (MEA). Among these regions, Asia-Pacific accounted for the largest share in the global High-Purity Epoxy Resins market. The growth of this market is attributed due to the fast-growing international construction industry drives the epoxy resin market, with the growing demand for epoxy resins from the paint and layer formulations. On the other hand, North America holds the second-largest share in the global high-purity epoxy resin market. As a result, the aviation and aerospace industries are expected to continue to drive demand for epoxy resins in the coming years. The increasing number of private companies entering the space exploration and aviation sectors is also expected a significant effect on the epoxy resin's growth trajectory in the North American region.
High-Purity Epoxy Resin Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
High-Purity Epoxy Resin Market Competitor overview
Some key developments and strategies adopted by manufacturers in High-Purity Epoxy Resin are highlighted below.
· In April 2021, Dow and Mura Technology announce a partnership to scale game-changing new advanced recycling solutions for plastics.
· In January 2021, Huntsman Advanced Materials accomplished the acquisition of Gabriel Performance Products, a North American specialty chemical manufacturer of specialty additives and epoxy curing agents for the adhesives, coatings, sealants, and composite end-markets, from Audax Private Equity.
High-Purity Epoxy Resin Market, Key Players
· BASF SE
· Aditya Birla Chemicals
· The 3M Company
· Chang Chun Plastics Co., Ltd.
· Nan Ya Plastics
· Nama Chemicals
· Kukdo Chemical
· Huntsman Corporation
· The Dow Chemical Company
· Momentive Performance Materials
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global High-Purity Epoxy Resin Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights, and Forecast – By Type
- 5.2.1. Electrical Grade
- 5.2.2. Others
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Electronic Components
- 5.3.2. Semiconductor Encapsulation
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East, and Africa
6. North America High-Purity Epoxy Resin Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights, and Forecast – By Type
- 6.2.1. Electrical Grade
- 6.2.2. Others
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Electronic Components
- 6.3.2. Semiconductor Encapsulation
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe High-Purity Epoxy Resin Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights, and Forecast – By Type
- 7.2.1. Electrical Grade
- 7.2.2. Others
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Electronic Components
- 7.3.2. Semiconductor Encapsulation
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific High-Purity Epoxy Resin Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights, and Forecast – By Type
- 8.2.1. Electrical Grade
- 8.2.2. Others
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Electronic Components
- 8.3.2. Semiconductor Encapsulation
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa High-Purity Epoxy Resin Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights, and Forecast – By Type
- 9.2.1. Electrical Grade
- 9.2.2. Others
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Electronic Components
- 9.3.2. Semiconductor Encapsulation
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. BASF SE
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Aditya Birla Chemicals
- 10.6. The 3M Company
- 10.7. Chang Chun Plastics Co., Ltd.
- 10.8. Nan Ya Plastics
- 10.9. Nama Chemicals
- 10.10. Kukdo Chemical
- 10.11. Huntsman Corporation
- 10.12. The Dow Chemical Company
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
