Future-Proofing Business in Japan’s Epoxy Resins Market: Analysis & Key Players

According to Taiwan News, the Japan Epoxy Resins market held a market value of USD 193.7 Million in 2020 and is forecasted to reach USD 226.2 Million by the year 2027. The market is expected to witness a CAGR of 2.3% over the projected period. In 2020, around 112 kilo tons of epoxy resin was sold. Epoxy resin is a flexible thermosetting resin produced by copolymerization of an epoxide with another compound which has 2 hydroxyl groups and is used in adhesives and coatings. The market is anticipated to be driven by factors such as the increase in demand for lightweight composites and infrastructural development.

Despite these driving factors, the characteristics disadvantages over alternatives and volatility of raw material prices are estimated to negatively hamper market growth. The COVID-19 pandemic negatively impacted the market growth owing to supply chain disruptions and closure of manufacturing facilities.

Growth Influencers:

Infrastructural development

Adoption of epoxy resins is increasing in infrastructural development owing to its various applications. These applications include binder in cement & mortars, non-skid coatings, general-purpose adhesives, rigid foams, industrial coatings, solidifying sandy surfaces in oil drilling, fiber-reinforced plastics, and potting & encapsulating media, among others. Therefore, high use in infrastructural development is anticipated to fuel the market growth.