Dow Chemical Company (US) and Westlake Epoxy (US) are Leading Players in the Epoxy Resin Market
The epoxy resin market is expected to grow at a CAGR of 5.5% to reach USD 17.0 billion by 2028 from USD 12.9 billion in 2023. The market growth is driven by various factors, including the significant demand from end-use industries such as building & construction, automotive, general industrial, consumer goods, wind energy, aerospace/aircraft and marine.
The key global players in the epoxy resin market, such as Sinopec Corporation (China), Dow Chemical Company (US), 3M (US), Westlake Epoxy (US), DIC Corporation (Japan), Olin Corporation (US), Huntsman Corporation (US), Nan Ya Plastics Corporation (Taiwan), Kukdo Chemical Co., Ltd. (South Korea), Aditya Birla Chemicals (India), Mitsubishi Chemical Group Corporation (Japan), and BASF SE (Germany) have a strong foothold in their respective regions and are exploring geographic diversification options to expand their businesses. They are focusing on increasing their market shares through new product launches and expansions.
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THE DOW CHEMICAL COMPANY
The Dow Chemical Company was founded in 1897 and is headquartered in Midland, Michigan, United States. It has a rich history of over a century and has established itself as one of the largest chemical companies globally. Dow operates through several business segments, including Performance Materials & Coatings, Industrial Intermediates & Infrastructure, Packaging & Specialty Plastics, and Agriculture. The Performance Materials & Coatings segment is particularly relevant to the epoxy resin market. Within this segment, Dow offers a comprehensive portfolio of epoxy resins and related products. These epoxy resins find applications in industries such as coatings, adhesives, electrical and electronics, construction, automotive, aerospace, and more. Its expansive reach allows it to serve customers globally, spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East. With its wide range of epoxy resin products and global infrastructure, Dow is well-positioned to meet the needs of customers in the epoxy market.
WESTLAKE EPOXY
Westlake Chemical Corporation has acquired the global epoxy business of Epoxy inc. The acquired epoxy business, now known as Westlake Epoxy, is headquartered in Rotterdam, The Netherlands, and enjoys a strong reputation as a leader in the industry. Westlake's epoxy resin products find application in various industries, contributing to the manufacturing of essential consumer goods. Their epoxy resins are utilized in food packaging, medical devices, soaps and detergents, car interiors, fashion, toys, shoes, furniture, electronics, siding, stone veneer, windows, outdoor living products, roofing, and pipe & fittings. These materials serve as critical components that improve the quality and functionality of these end products.
Related Reports:
Epoxy Resin Market by Physical Form (Liquids, Solids, Solutions), Raw Materials (Badge, Bfdge, Novolac, Aliphatic, Glycidyl Amine), Application (Paints & Coatings, Adhesives & Sealants, Composites), End-Use Industry, and Region - Global Forecast to 2028
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