Epoxy Resins Market Size, Share, Growth, and Industry Analysis, By Type (Pure Epoxy Resin Adhesive,Modified Epoxy Resin Adhesive), By Application (Coating,Electronic,Building,Material,Other), Regional Insights and Forecast to 2033

Epoxy Resins Market Overview

The Epoxy Resins Market size was valued at USD 7282.67 million in 2024 and is expected to reach USD 9754.22 million by 2033, growing at a CAGR of 3.3% from 2025 to 2033.

The global epoxy resins market reached 4.1 million tonnes in 2024, driven by rapid capacity expansions and surging industrial demand. Peak production capacity across key regions exceeded 6.5 million tonnes by 2023, indicating a sustained supply push. Asia Pacific remains dominant, accounting for over 60 percent of global capacity, with China alone contributing around 3.4 million tonnes of nameplate annual output. Meanwhile, global shipments of epoxy resins averaged 3.4 million tonnes in 2024, with paints & coatings applications absorbing approximately 1.3 million tonnes.

The market’s broad application footprint spans construction, automotive, electrical & electronics, aerospace, wind turbines, adhesives, and marine sectors. Bio-based epoxy resin variants—sourced from vegetable oils and lignin—entered the market at notable volumes, marking early adoption trends by 2024. Pure epoxy resin adhesive and modified epoxy resin adhesive types dominate packaging, bonding, and composite fabrication applications. Year-on-year output climbed approximately 13 percent in China during 2023, reflecting accelerated production scalability.

Key Findings

Driver: Growing demand for lightweight, high-strength composites in automotive and aerospace sectors has significantly increased epoxy resin consumption. In 2024, epoxy-based composites accounted for over 42% of polymer matrix composites used in aerospace manufacturing.

Top Country/Region: China leads the global epoxy resin market, contributing more than 52% of total production volume in 2024, with major outputs centralized in Jiangsu and Shandong provinces.

Top Segment: The coatings segment dominated end-use in 2024, absorbing over 38% of global epoxy resin volume, primarily driven by demand in industrial protective coatings, marine paints, and infrastructure refurbishment.

Epoxy Resins Market Trends

The epoxy resins market has experienced substantial evolution with multiple transformative trends reshaping production, consumption, and product innovation. One of the most prominent market trends is the rising demand for eco-friendly epoxy systems, with over 25,000 tonnes of bio-based epoxy resins consumed globally in 2024. This trend is being driven by regulatory pressure from entities such as the EU REACH directive and increased sustainability goals among manufacturers. Leading producers have begun integrating plant-based epichlorohydrin (ECH) into resin formulations, reducing carbon footprint by 30–50% per kilogram compared to petroleum-derived variants. The construction industry is a strong end-user segment, with epoxy-based flooring and coatings covering over 120 million square meters globally in 2023 alone. This includes growth in high-performance epoxy applications for corrosion protection in wastewater plants, bridges, and industrial warehouses. Infrastructure refurbishment and anti-rust protection projects across Southeast Asia contributed to a 14% year-on-year increase in epoxy floor coating consumption in 2024. The electronics segment continues to show robust expansion, particularly in encapsulation, underfills, and semiconductor packaging.

Wind energy has also become a new frontier for epoxy usage, with epoxy composites used in more than 90% of the global wind turbine blades produced in 2024. Each utility-scale wind turbine requires 1.5 to 2.2 tonnes of epoxy resins for rotor blade fabrication. The global push toward renewable energy, especially in Europe and China, contributed to over 120,000 tonnes of epoxy resin being allocated for blade production. Automotive lightweighting has increased the penetration of epoxy matrix composites in electric vehicles (EVs), with more than 60% of EV battery housings now incorporating epoxy-based composite components. This trend is bolstered by regulatory norms on vehicle weight and energy efficiency, driving up epoxy resin demand from the EV sector by 15% year-over-year in 2024. Digital transformation in the chemical supply chain has also emerged, with over 40% of leading resin producers using AI-integrated manufacturing systems to enhance output consistency and batch traceability.

Epoxy Resins Market Dynamics

DRIVER

Expanding Applications in Construction and Infrastructure

The rising use of epoxy resins in infrastructure development, protective coatings, and structural adhesives is a major growth driver. In 2024, the global consumption of epoxy resins in construction-related applications surpassed 1.2 million tonnes, with protective coatings alone contributing 740,000 tonnes. Epoxy coatings offer superior abrasion resistance, chemical stability, and moisture protection, making them ideal for bridges, highways, commercial buildings, and airports. The Indian infrastructure sector, for instance, used over 85,000 tonnes of epoxy resins in 2023, primarily for concrete repair and anti-corrosive applications. Moreover, global megaprojects such as China’s “Belt and Road Initiative” and the UAE’s “Vision 2030” have significantly accelerated regional epoxy resin demand.

RESTRAINT

Environmental and Health Concerns Over Bisphenol-A (BPA) and Epichlorohydrin (ECH)

One of the most critical restraints is the environmental and health impact of core epoxy raw materials, particularly BPA and ECH. BPA is classified as an endocrine disruptor and ECH as a probable human carcinogen by several health agencies. As a result, regulatory scrutiny has increased, particularly across Europe, where over 60% of countries are actively pushing for BPA-free alternatives. In 2024, the European Chemicals Agency (ECHA) restricted BPA use in products with direct skin contact, limiting its presence to 0.02% by weight. This has led to increased compliance costs, technology migration, and formulation delays for epoxy resin producers operating in the EU and North America.

OPPORTUNITY

Growing Demand for High-Performance Composites in Wind Energy

The renewable energy boom, especially in wind power, presents a substantial opportunity. In 2024, over 120,000 tonnes of epoxy resin were consumed globally for wind turbine blade manufacturing. Epoxy-based composites offer high strength-to-weight ratios, fatigue resistance, and structural integrity critical to large-scale rotor blade designs. With over 100 GW of new wind capacity installed worldwide in 2024, epoxy resin demand in the sector rose by 13% year-over-year. Emerging offshore wind projects in the UK, Taiwan, and the United States are expected to absorb over 35,000 tonnes of epoxy annually through 2026.

CHALLENGE

Volatility in Raw Material Prices and Supply Chain Disruptions

The epoxy resin market continues to be challenged by price fluctuations in key raw materials like bisphenol-A, epichlorohydrin, and phenol. In 2024, average BPA prices fluctuated between $2,150 to $2,800 per metric ton, reflecting supply constraints due to plant shutdowns in China and logistics issues across the Suez Canal. Moreover, global supply chain disturbances triggered by geopolitical tensions and freight bottlenecks have delayed shipment schedules by 22–30 days in several regions. These factors directly impact profit margins for formulators and downstream converters, leading to inventory piling and deferred procurement cycles.

Epoxy Resins Market Segmentation

The epoxy resins market is segmented by type and application to address diverse industrial requirements. In 2024, over 3.4 million tonnes of epoxy resins were consumed globally across various end-use segments. By type, the market is categorized into pure epoxy resin adhesive and modified epoxy resin adhesive, while by application it includes coating, electronic, building, material, and other segments.

By Type

• Pure Epoxy Resin Adhesive: accounted for over 1.4 million tonnes of global consumption in 2024. These adhesives are favored for their superior bonding strength, thermal resistance up to 160°C, and low shrinkage rates below 2%. Their usage is prevalent in electrical laminates, aerospace composites, and automotive structural components. In Asia-Pacific, pure epoxy adhesive usage increased by 11.2% in 2023–2024, primarily driven by high demand in PCB fabrication and marine engineering. Countries like South Korea and Taiwan use pure epoxy resins extensively for encapsulating semiconductors and sensor devices.
• Modified Epoxy Resin Adhesive: which integrate toughening agents or reactive diluents, held a larger market share, contributing nearly 2 million tonnes in 2024. These formulations offer increased flexibility, impact resistance, and chemical resilience, making them ideal for construction joints, consumer electronics, and wind energy systems. In Europe, the usage of modified epoxy adhesives grew by 14.8%, especially in automotive crash structures and EV battery modules. Their ability to cure under ambient conditions and resist moisture exposure has made them essential in infrastructure repair and HVAC system assembly.

By Application

• Coating: segment led global application use, consuming more than 1.3 million tonnes of epoxy resins in 2024. These coatings are widely applied in marine, industrial, pipeline, and protective infrastructure projects due to high adhesion and chemical resistance. The Asia-Pacific region alone accounted for 680,000 tonnes of epoxy-based coatings last year, led by construction and oil & gas sectors.
• Electronic: applications consumed over 740,000 tonnes of epoxy resins in 2024, driven by their use in conformal coatings, encapsulants, and potting compounds. These resins are essential for insulating PCBs, transformers, and power modules. China’s electronics sector used approximately 420,000 tonnes, a 12% rise from 2023.
• Building: Construction applications, such as concrete bonding, flooring, and sealants, used over 1 million tonnes of epoxy in 2024. North America’s demand in this segment surged due to public infrastructure redevelopment, consuming over 230,000 tonnes alone.
• Material: This includes composites used in aerospace, automotive, and sports equipment. Over 620,000 tonnes of epoxy resin were used for high-strength composite materials in 2024, led by aerospace growth and EV expansion.
• Other: Miscellaneous uses include adhesives for packaging, tool molds, fiber reinforcement, and art resins. Around 240,000 tonnes were consumed globally under this category in 2024.

Epoxy Resins Market Regional Outlook

The global epoxy resins market showed divergent regional dynamics in 2024, shaped by industrial development, manufacturing capacity, and end-use demand patterns. Asia-Pacific dominated global consumption with over 2 million tonnes, followed by Europe and North America, which collectively consumed more than 1.1 million tonnes. Meanwhile, emerging infrastructure and energy projects spurred growth across the Middle East & Africa, which saw epoxy resin usage surpass 160,000 tonnes in 2024.

• North America

accounted for over 630,000 tonnes of epoxy resin consumption, with the U.S. being the primary contributor. The region’s demand was largely driven by high-performance coatings, wind turbine blades, and electronic potting compounds. Epoxy consumption in the aerospace sector increased by 9.4%, largely due to Boeing and Lockheed Martin ramping up production of composite-intensive aircraft. The coatings segment alone absorbed more than 270,000 tonnes, driven by public infrastructure investments under the U.S. Infrastructure Investment and Jobs Act. Additionally, the region witnessed growth in EV applications, particularly for epoxy in battery encasements and lightweight structures.

• Europe

consumed approximately 510,000 tonnes of epoxy resins in 2024, led by Germany, France, and Italy. Germany alone accounted for 190,000 tonnes, largely attributed to automotive structural adhesives and construction sealants. The EU’s Green Deal has accelerated the shift toward low-VOC and BPA-free formulations, with over 20% of Europe’s epoxy production now sourced from bio-based materials. Wind energy developments in Northern and Western Europe required more than 65,000 tonnes of epoxy for rotor blade and nacelle applications. Europe also showed strong growth in epoxy flooring systems across industrial facilities and transport hubs, with a 2024 volume exceeding 120,000 tonnes.

• Asia-Pacific

retained its position as the largest regional market, consuming over 2 million tonnes of epoxy resins in 2024. China alone contributed more than 1.4 million tonnes, with rapid expansion in electronics, construction, and wind energy sectors. India’s demand grew by 12.7% year-over-year, supported by industrial park development and smart city initiatives. South Korea and Japan contributed 280,000 tonnes, mostly for electronics encapsulation, composite materials, and advanced coatings. Regional output growth was matched by increasing vertical integration by key producers, enabling cost advantages and export competitiveness.

• Middle East & Africa

region consumed more than 160,000 tonnes of epoxy resins in 2024. The surge was led by major construction projects in the UAE, Saudi Arabia, and South Africa. Saudi Vision 2030 and infrastructure investments in Abu Dhabi led to over 80,000 tonnes used in flooring and waterproofing. The marine sector also contributed, particularly with epoxy coatings used in offshore oil & gas rigs and naval ships. Africa’s consumption, although smaller, is rising due to manufacturing development zones in Nigeria, Egypt, and Kenya, adding over 18,000 tonnes to regional totals in 2024.

List of Top Epoxy Resins Companies

• 3M (US)
• Adhesives Technology (US)
• Aditya Birla Chemicals (Thailand)
• Air Products and Chemicals (US)
• (UK)
• Asahi Kaseioration (Japan)
• Ashland (US)
• Atul (India)
• BASF SE (Germany)
• Chang Chun Plastics
• Ciech (Poland)
• Cytec Solvay Group (US)
• DICoration (Japan)
• Emerald CVC Thermoset Specialties (US)
• Epic Resins (US)
• Hexion

Hexion (US): held the largest share of the global epoxy resins market in 2024, with a total production capacity exceeding 1.2 million tonnes across its global facilities. The company operates major plants in the United States, Germany, Brazil, and China. In 2024, Hexion supplied over 800,000 tonnes of epoxy resins to the coatings, composites, and electronics sectors, leveraging its extensive product line including EPIKOTE™ and EPIKURE™.

BASF SE (Germany): ranked second in global market share, with epoxy resin output surpassing 710,000 tonnes in 2024. The company’s Ludwigshafen facility in Germany serves as one of the largest production hubs, delivering over 280,000 tonnes annually to Europe and the Middle East. BASF’s advanced epoxy resins, such as Baxxodur® and Ultramid®, are used in automotive, electronics, and wind energy applications. In 2024, the company increased its Asia-Pacific exports by 18%, particularly to China and India, in response to demand from electric mobility and composite material manufacturers.

Investment Analysis and Opportunities

The epoxy resins market has witnessed robust capital inflows in recent years, with over $3.2 billion invested globally in capacity expansion, technology upgrades, and downstream integration projects between 2022 and 2024. In 2024 alone, more than 17 new epoxy production lines were commissioned worldwide, adding an estimated 750,000 tonnes to the global production capacity. The majority of this expansion took place in the Asia-Pacific region, particularly in China and India, where government policies supported chemical manufacturing parks and tax subsidies for specialty resin plants. Major players like Hexion and Atul have invested over $120 million in R&D to develop high-performance, low-VOC, and sustainable epoxy formulations. Hexion’s innovation center in Ohio received an expansion grant of $22 million in early 2024 to accelerate development of water-based epoxy coatings, which are projected to grow by 19% annually in volume. Atul’s Dahej facility in India expanded its modified epoxy adhesive capacity by 45,000 tonnes, supporting increased demand from Southeast Asia and the Middle East.

The wind energy sector is one of the most promising areas for epoxy investment. Between 2023 and 2024, more than $800 million was invested globally in epoxy resin applications for rotor blade manufacturing. Notably, Vestas and Siemens Gamesa announced procurement contracts for over 90,000 tonnes of epoxy resins for use in next-gen blade models designed for 15 MW offshore turbines. These applications highlight strong backward integration opportunities for epoxy resin producers into the green energy value chain. In electronics, companies such as Samsung SDI and TSMC increased epoxy procurement for semiconductor packaging by 15%, prompting resin suppliers to invest in high-purity grades with thermal resistance above 180°C. Investments in liquid epoxy formulations for 5G base stations and EV power control modules are also gaining traction. The segment saw $430 million in resin development funding globally in 2024. Governments are also contributing to investment flows. South Korea’s Ministry of Trade, Industry and Energy pledged ₩90 billion (approx. $68 million) to support local resin manufacturers in scaling eco-friendly epoxy variants by 2026.

New Product Development

New product development (NPD) has become a critical differentiator in the epoxy resins market, with manufacturers increasingly focused on high-performance, environmentally compliant, and application-specific formulations. In 2024, more than 110 new epoxy resin formulations were launched globally, with approximately 36% of them based on bio-based or waterborne chemistries. One of the most significant innovations came from BASF, which launched Ultramid® Advanced N4H, a halogen-free, heat-stable epoxy formulation designed for e-mobility and electronic insulation. This product demonstrated thermal resistance above 190°C, dielectric strength exceeding 18 kV/mm, and was already adopted in seven major EV platforms by the end of Q1 2024. BASF reported supplying over 14,000 tonnes of this resin variant during its first six months on the market. Hexion introduced a next-generation epoxy system under its EPIKOTE™ line in early 2024, aimed at high-volume automotive composite production. This resin achieves full cure within 7 minutes at 120°C, making it ideal for battery enclosures and structural panels in EVs. The new system also offers a reduction of 28% in VOC emissions compared to legacy formulations. Over 220 OEMs and tier-1 suppliers conducted trials with this formulation within its first quarter post-launch.

Aditya Birla Chemicals unveiled a low-viscosity, high-transparency epoxy resin for optical applications in March 2024. This product is designed for LED encapsulation and laser lens molding, offering >92% light transmittance and a yellowing index <3 after 1,000 hours of UV exposure. With a volume production target of 20,000 tonnes/year, this product is positioned to dominate the specialty optics segment by 2026. In the coatings sector, Atul Ltd. launched an epoxy system tailored for offshore marine infrastructure. The new resin shows salt spray resistance beyond 3,500 hours and adhesion strength of over 5 MPa on rust-grade steel surfaces. The company secured supply agreements with several Middle Eastern oil & gas contractors for this formulation by Q2 2024. DIC Corporation (Japan) developed a BPA-free, bio-sourced epoxy adhesive using epoxidized soybean oil and sugar-based hardeners. This formulation is now used in disposable medical devices and packaging laminates. The product was rolled out at 45 pilot facilities across Japan and Southeast Asia, with commercial-scale production slated for 2025.

Five Recent Developments

• Hexion Opened a New Production Facility in China (2023): inaugurated a 100,000-tonne/year epoxy resin manufacturing plant in Zhuhai, China. This plant focuses on supplying resins for automotive composites and electrical laminates. The facility also integrates energy-efficient production technology, reducing greenhouse gas emissions by 18% compared to traditional systems.
• BASF Partnered with Vestas for Wind Energy Epoxies (2024): entered into a partnership with wind turbine manufacturer Vestas to supply over 75,000 tonnes of epoxy resin for the company’s global rotor blade production. The deal supports Vestas' projects in the UK, India, and Vietnam and includes the delivery of next-generation low-VOC epoxy systems.
• Atul Expanded Epoxy Adhesives Capacity in India (2024): announced a 45,000-tonne/year expansion of its modified epoxy adhesives capacity at its Dahej site in Gujarat in January 2024. This investment, worth over ₹380 crore, aims to serve Southeast Asian demand and includes technology for rapid-cure adhesives used in EVs and aerospace.
• Aditya Birla Chemicals Launched Bio-Based Epoxy Line (2023): range under the brand EcoStrong™, made using lignin-derived epichlorohydrin. The resin contains over 65% renewable content and has been adopted by customers in industrial coatings and electronics sectors across Europe and India.
• DIC Corporation Commercialized BPA-Free Epoxy in Japan (2024): completed the commercial launch of its BPA-free epoxy resin for consumer packaging in March 2024. The formulation complies with Japan’s Food Contact Materials (FCM) guidelines and achieved zero migration in standardized food simulant testing, enabling safe use in flexible pouches and beverage liners.

Report Coverage of Epoxy Resins Market

The epoxy resins market report provides comprehensive coverage of global and regional dynamics shaping demand, supply, production, and application trends. It offers a detailed quantitative and qualitative analysis of key market drivers, restraints, opportunities, and challenges based on 2023–2024 performance indicators. The report covers over 35 countries, representing more than 98% of global epoxy resin consumption, and profiles 16 major manufacturers with strategic insights into their operations, product lines, and geographic reach. The scope of the report encompasses an in-depth evaluation of market size (in volume terms), segmented by type, application, and region. It provides market volume data (in tonnes) for pure epoxy resin adhesives and modified epoxy resin adhesives, with granular details on performance characteristics, usage conditions, and preferred industry sectors. The report captures critical metrics like curing time, thermal resistance, viscosity, and VOC emissions for each resin type across geographies. Application-wise, the report evaluates five major segments—coatings, electronics, construction, composite materials, and other industrial uses. Each application category is analyzed with consumption figures, growth rates, end-user industry trends, and technological preferences.

For example, the coatings segment is tracked across architectural, marine, and anti-corrosion use cases, which consumed more than 1.3 million tonnes globally in 2024. The regional coverage includes North America, Europe, Asia-Pacific, and Middle East & Africa, with detailed insights into local consumption trends, regulatory frameworks, production capacities, and trade flows. For instance, the Asia-Pacific section outlines China’s dominance with over 1.4 million tonnes of consumption in 2024 and India’s expanding epoxy application in wind energy and public infrastructure. North America’s focus on lightweight epoxy composites for aerospace and EVs is also highlighted. The report further includes a competitive landscape analysis, outlining market shares, capacity expansions, partnership strategies, and product launches by major manufacturers. It identifies Hexion and BASF SE as the top global players in 2024 based on volume and regional presence. Additionally, the report examines downstream supply chain dynamics, including resin formulators, compounders, and end-user industries. Emerging trends such as bio-based epoxy formulations, BPA-free product innovations, and smart epoxy systems for electronics are also covered in depth. Investment activity, R&D innovation, and sustainability initiatives are evaluated to project long-term structural shifts in the market.

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