The South America epoxy resins market size is anticipated to register a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the strong growth of the construction industry.
Epoxy resins is a receptive polymer and prepolymer that includes epoxide groups. This type of resin reacts either with themselves in the effect of catalyst or with numerous co-reactants such as phenols, amines, and thiols. Epoxy resins have numerous modern applications for an assortment of purposes. It has higher rigid strength and more warm than different types of resins.
Epoxy resin is a durable compound that can be utilized with different materials, including wood, glass, fabric, and metal. Epoxy resins are not water repellent. Exposure to wet or moist conditions can cause crumbling after some time, which can affect their strength. The most widely recognized use of epoxy resin is intended for glue purposes. Epoxy resins are also utilized in the development of vehicles, airplanes, snowboards, and bikes.
Market Trends, Drivers, Restraints, and Opportunities
- Growing use of various types of epoxy resin coverings such as acrylics, polyurethane, and polyester in many end-user applications such as construction and marine businesses is expected to drive the market growth.
- Rising development in the coating industry is one of the key drivers contributing toward the development of the epoxy resin market
- Increasing number of epoxy resin applications such as paints, coatings, building, and construction is anticipated to stimulate the market expansion.
- The COVID-19 pandemic restrained the growth of the market owing to supply chain disruption across the globe.
- Increasing adoption of DiGlycidyl Ether of Bisphenol-A (DGEBA) epoxy resin in the construction industry is expected to create lucrative opportunities for market players in the projected timeline.
Scope of Epoxy Resins Market Report
The report on the South America epoxy resins market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Epoxy Resins Market - South America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Raw Materials (Novolac, DGBEA, DGBEF, Glycidylamine, Aliphatic, and Other Raw Materials) and Applications (Adhesives and Sealants, Paints and Coatings, Composites, Wind Turbines, Electrical and Electronics, and Other Applications)
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Geographical Scope
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Argentina, Chile, Brazil, Columbia, and Rest of South America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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3M; Hexion; Covestro AG; Olin Corporation; and Huntsman International LLC
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South America Epoxy Resins Market Segment Insights
Novalac segment is expected to grow at a rapid pace
Based on raw materials, the market is divided into novolac, DGBEA, DGBEF, glycidylamine, aliphatic, and other raw materials. The novalac segment is expected to grow at a rapid pace during the forecast period due to its high mechanical strength. On the other hand, the DFBEA segment is anticipated to grow at a healthy rate in the projected timeline.
Paints and coatings segment is projected to expand at a considerable CAGR
On the basis of applications, the market is segregated into adhesives and sealants, paints and coatings, composites, wind turbines, electrical and electronics, and other applications. The paints and coatings segment is projected to expand at a considerable CAGR during the forecast period. Epoxy resins are used as binders for coating applications to enhance durability of coating for metal and floor applications. Conversely, the adhesives and sealants segment is expected to grow at a steady rate owing to rapid growth of the automotive and construction industries.
Brazil is anticipated to hold a key market share
In terms of geography, the South America epoxy resins market is classified as Argentina, Chile, Brazil, Columbia, and Rest of South America. The market in Brazil is expected to constitute a key share of the market during the forecast period due to rising expenditure of government state bodies for the development of public infrastructure.
Segments
The South America epoxy resins market has been segmented on the basis of
Raw Materials
- Novolac
- DGBEA
- DGBEF
- Glycidylamine
- Aliphatic
- Other Raw Materials
Applications
- Adhesives and Sealants
- Paints and Coatings
- Composites
- Wind Turbines
- Electrical and Electronics
- Other Applications
Geography
- Argentina
- Chile
- Brazil
- Columbia
- Rest of South America
Key Players
Competitive Landscape
Key players competing in the South America epoxy resins market are 3M; Hexion; Covestro AG; Olin Corporation; and Huntsman International LLC.
Major players are focusing on development of cyclic aliphatic resins that can be used for high voltage electric insulation.
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