Epoxy Resin Category Overview
The epoxy resins category is expected to grow at a CAGR of 7.3% from 2023 to 2030. The industry is being driven significantly by the rising demand from the paints & coatings sector. In addition, the category is also being supported by the growth of investments in the construction sector, particularly residential construction in Western Europe and North America. Furthermore, the continuous growth of manufacturing activities across the globe is also anticipated to fuel the demand for paints & coatings which are utilized in the production of automobiles and several other durable goods, as well as industrial maintenance applications.
Technological developments in the formulations of epoxy resins has led to the production of resins with enhanced quality such as better thermal strength, improved chemical resistance and higher mechanical strength. These advancements enable epoxy resins to suit the changing needs of electronics, automotive and aerospace sectors. The processing and output of products made with epoxy resin have increased due to the development of new curing technologies, including curing agents that are efficient and quick. Epoxy resins can now be applied in more time-sensitive industries due to their faster curing times and enhanced curing properties.
Order your copy of the Epoxy Resin Procurement Intelligence Report, 2023 - 2030 , published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
The category for epoxy resin is highly fragmented and competitive because the industry is lucrative and the requirement for entering the market is low, which is enticing huge firms to enter the market with each passing year. Therefore, an unprecedented number of small and medium-sized enterprises are starting to enter the market. Key market players are continuously focussing on research & development in order to offer end-user industries the most efficient and cost-effective solutions. In addition, the key players are continuously implementing various growth strategies like partnerships & collaborations, mergers & acquisitions, and innovations to maintain a competitive edge.
Epoxy Resin Procurement Intelligence Report Scope
The Epoxy Resin category is expected to have pricing growth outlook of 10% - 15% decrease (Annual) from 2023 to 2030, with below pricing models.
- Cost plus pricing model
Supplier Selection Scope of Report
- Cost and pricing
- Past engagements
- Productivity
- Geographical presence
Supplier Selection Criteria of Report
- Business needs
- technical specifications
- operational requirements
- reliability
- experience
- operational capabilities
- regulatory standards and mandates
- category innovations
- others.
Epoxy Resin Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
- Market Intelligence along with emerging technology and regulatory landscape
- Market estimates and forecasts from 2023 to 2030
- Growth opportunities, trends, and driver analysis
- Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
- Porter’s 5 forces
- Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
- Engagement and operating models, KPI, and SLA elements
- LCC/BCC analysis and negotiation strategies
- Peer benchmarking and product analysis
- Market report in PDF, Excel, and PPT and online dashboard versions
Epoxy Resin Procurement Cost and Supplier Intelligence
Raw material cost, labor cost, and transportation cost are the major key cost components of this category. Businesses, generally use a cost-plus pricing model where the price of the can is determined by adding a markup on the total cost of production. This model is in use due to the high level of competition and relatively low-profit margins. Price of epoxy resin is dependent on the cost and availability of raw materials such as epichlorohydrin (ECH), bisphenol A (BPA) and certain curing agents. Any increase or decrease in the cost of these raw materials can affect the profitability of epoxy resin manufacturers and fluctuate the production cost, thus, affecting the pricing of the resin as well. Price changes can be caused by market volatility, supply chain disruptions and other factors, making it difficult for manufacturers to maintain their pricing strategies.
The global industry is dominated by the Asia-Pacific region as the leading consumer of epoxy resins, registering higher demand from nations like India and China. Rising demand for paints & coatings along with ongoing infrastructural development projects is fuelling the demand in this region. The regional market is also anticipated to be driven by the increasing disposable income and people’s willingness to spend more. Recent years have witnessed a sharp rise in global automotive manufacturing as a result of increased demand from the middle-income population and rising disposable income in emerging economies such as India, Vietnam, Brazil and China.
List of Key Suppliers
- 3M Company
- BASF SE
- Kukdo Chemical Co., Ltd.
- Huntsman International LLC
- Olin Corporation
- Jiangsu Sanmu Group
- Hexion Inc.
- Chang Chun Group
- China Petroleum & Chemical Corporation
- Kolon Industries, Inc.
- Nagase ChemteX Corporation
- Aditya Birla Chemicals
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Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
