According to the report by Expert Market Research (EMR), the global flexible epoxy resin market size is projected to grow at a CAGR of 6.6% between 2024 and 2032. Aided by the versatile applications of flexible epoxy resin in various industries and the continuous innovation in product development, the market is expected to grow significantly by 2032.
Flexible epoxy resin is a thermosetting polymer known for its high strength, excellent adhesion, and adaptability to various surfaces. It is widely used in coatings, adhesives, composites, and electronic encapsulations, among other applications. Its unique properties, such as chemical resistance, electrical insulation, and flexibility, make it a preferred material in many industrial and commercial applications.
The flexible epoxy resin market growth is primarily driven by its increasing demand in the construction and automotive industries. In construction, flexible epoxy resin is used for coatings, flooring, and as a structural adhesive, owing to its durability and resistance to wear and tear. In the automotive sector, it is utilised for manufacturing lightweight and strong composite materials, which enhance fuel efficiency and reduce vehicle emissions.
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Another significant factor propelling the flexible epoxy resin market demand is the burgeoning electronics industry. Flexible epoxy resin is essential in the production of electronic components and circuit boards due to its excellent electrical insulation properties and resistance to environmental factors. The growth in consumer electronics, combined with the rising trend of miniaturisation, is further boosting the demand for flexible epoxy resin.
Innovations in the field of flexible epoxy resin, leading to the development of eco-friendly and sustainable products, are also contributing to the flexible epoxy resin market size. Manufacturers are increasingly focusing on bio-based epoxy resins and recycling technologies to address environmental concerns and regulatory compliances.
The growing demand for sustainable and environmentally friendly products is encouraging manufacturers to invest in research and development of bio-based and recyclable epoxy resins. This shift towards sustainability is likely to open new avenues for market expansion.
Additionally, the evolving needs of industries like aerospace and defence, which require high-performance materials, is one of the crucial flexible epoxy resin market trends that provide a lucrative opportunity for the growth of the market. The development of advanced epoxy resins with enhanced properties to meet these industry-specific requirements could further drive market expansion.
Flexible Epoxy Resin Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Urethane Modified
- Rubber Modified
- Dimmer Acid Modified
Market Breakup by Application
- Electrical and Electronics
- Adhesives
- Composites
- Paints and Coatings
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Flexible Epoxy Resin Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global flexible epoxy resin market. Some of the major players explored in the report by Expert Market Research are as follows:
- Conren Limited
- DIC Corporation
- The Dow Chemical Company
- EPOXONIC GmbH
- Hexion Inc.
- Others
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