Demand from aerospace and defense sectors fuels the Epoxy Compound Market

Posted by rohan on October 14th, 2019

Market Overview:

The global epoxy compound market was worth US$ 26.67 billion in 2018 and is expected to reach approximately US$ 38.24 billion in 2023, with a current annual growth rate of 7.4%. For the global epoxy compound market, moderate growth is expected in the forecast period (2018-2023). The Asia-Pacific region is expected to grow faster. Recently, a study was carried out on the detection of flexural damage, the interface and the weak aspects of carbon fiber reinforced plastic (CFRP) cables using four different types of epoxy resins. Thermal analyzes and tensile tests were performed to investigate the thermal and mechanical properties of various epoxies. Based on a variety of criteria, it was concluded that an epoxide based on acid anhydride is an optimal epoxy formulation for the production of carbon fiber reinforced plastic (CFRP) cables.

Market Drivers and Restraints:

The increased demand for epoxy compounds by high-end industries such as automotive, electricity and electronics, pharmaceuticals and construction has driven market growth. Recently, the compounds have been used in the wind energy industry, which has also boosted the market growth. The demand for composite adhesives in the automation and aerospace industries is high. Composite materials are used to produce green vehicles with light panels for aeroplanes and rockets. Reducing the weight of the components, improving resistance to shocks and impacts, reducing carbon emissions and increasing efficiency are some of the factors that boosted the market growth.

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Report segmented as

By Fibre Type:

  • Glass,
  • Carbon

By Manufacturing Process:

  • Lay-up,
  • Compression Molding,
  • Resin Injection,
  • Resin Transfer Molding,
  • Filament Winding, and Pultrusion

Geographical Analysis:      

By topography, the world market is segmented into Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. Among them, the Asia Pacific is the rapidly increasing market, both in terms of volume & size due to an increase in petition from growing automobile, aerospace and defense industries. India, China, Taiwan, South Korea, & Japan are some of the major countries in the region, where the high progress rate is predicted during the forecast period.

Important Market Players:

Some of the key market players are Teijin Limited (Japan), Toray Industries, INC. (Japan), Mitsubishi Rayon Co. Ltd. (Japan), Rotec Composite Group B.V. (Netherlands), SGL Group (Germany), Gordon Composites, Inc. (USA), Axiom Materials, Inc. (USA), Hexcel Corporation (USA), Cytec Solvay Group (Belgium), &Koninklijke Ten Cate NV. (Netherlands).

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

About Us:

Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

For more information:

Abhishek Shukla

Sales Manager at Market Data Forecast


Tel: +1-888-702-9626


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Joined: September 20th, 2017
Articles Posted: 1,346

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