Hot Melt Adhesives Market | CMI PR

1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ EPOXY RESIN MARKET ANALYSIS

2. EPOXY RESIN MARKET ANALYSIS • Epoxy Resin Market, By Application (Paints & Coatings, Wind Energy, Composites, Construction, Electrical & Electronics, Adhesives, Others), and By Region (North America, Europe, Asia Pacific, Rest of the World) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. Figure 1. Global Epoxy Resins Market, Revenue Share (%), By Region, 2019

4. Epoxy resin is a polymer produced by copolymerization of an epoxide with a compound that consists of two hydroxyl groups. Epoxy resin is high-performance resins that have excellent properties such as high thermal stability, resistance to corrosion, high mechanical strength, durability, and superior adhesion. Epoxy resin is majorly used across adhesive, paints &coatings, and electronic encapsulation applications. • The global epoxy resins market is projected to surpass US$ 5,834.41 million by the end of 2027, in terms of revenue, growing at CAGR of 6.6% during the forecast period (2020 to 2027). • Drivers • Growing demand for paints &coating is a prime factor fueling the market growth of the epoxy resin. Epoxy resin-based products exhibit quick dry property and provide excellent coatings for the construction industry. Epoxy resin-based paints are widely used across concrete floor paint, floor paint, and epoxy primers. They prevent corrosion and rust on the surfaces. These coatings are used in primers for improving adhesion of automotive and marine components. Thus, growing demand for paints &coatings is expected to foster the market growth of the epoxy resins. • Regionally, Asia-pacific dominated the global epoxy resins market in 2019, reporting 62% market share in terms of revenue, followed by Europe and North America, respectively.

6. Market Restraints • Health hazards associated with the epoxy resin flooring as they release strong and toxic fumes that may cause irritation in the lungs and eyes are restricting the market growth. Moreover, exposure to these fumes may cause breathing problems in asthmatic people. This factor is expected to hinder the market growth of epoxy resins. • Market Opportunities • Increasing use of wind turbines for power generation due to growing concern over the depleting of conventional sources is projected to offer potential opportunities in the market. Also, the growing use of epoxy resins in ship repairs and maintenance of various components such as decks, ballast tanks, topsides, underwater hulls, superstructures, and cargo tanks is again propelling the market growth. Moreover, increasing demand for efficient commercial and military aircraft are further projected to propel the market growth of epoxy resins over the forecast period.

7. Figure 2. Global Epoxy Resins Market – Opportunity Analysis

8. Global Hot Melt Adhesives Market - Impact of Coronavirus (Covid-19) Pandemic • As COVID-19 continues to spread swiftly around the world, it is impacting the global economy and leading to socio-economic disruptions. Operating large and complex supply chains in advanced materials industry is becoming one of the key challenges for companies in their normal trade. According to Coherent Market Insights, inadequate supply of raw materials led to fluctuation in the prices per ton of advanced materials, but they are expected to regain normalcy by Q1 2021. • On the basis of application, the packaging segment accounted for the largest market share of around 37% in terms of value in 2019, followed by healthcare products and automotive segments. Hot melt adhesives are gaining popularity across the packaging industry. Thus, the expansion of the packaging sector is favoring growth of the hot melt adhesives market.

9. Figure 3. Global Hot Melt Adhesives Market, Revenue Share (%) Analysis, By Application, 2019

10. Major companies operating in the global hot melt adhesives market are Henkel AG & Co. KGaA, H B Fuller, Sika AG, Arkema Group, Ashland Inc., The 3M Company, Jowat AG, SipolSpA, Palmetto Adhesives Company, and Sealock Ltd. • Key players are focused on strategies such as product launches to strengthen their presence in the global hot melt adhesives market. For instance, in August 2019, Henkel launched Technomelt Supra PS adhesives, which can replace plastic films, intermediate layers, and anti-skid mats in securing pallets. This is expected to boost growth of the global hot melt adhesives market during the forecast period.

11. Figure 4. Global Hot Melt Adhesives Market – Value Chain Analysis

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