2027's global epoxy composite volume will reach $24.2 billion, an annual growth rate of 5.1%

On September 3,2020, the latest 2027 and industry forecasts for 20202027 were published on the web site of Epoxy, which estimated the global market for epoxy at $16.4 billion in 2019, the 2027 market is expected to reach $24.2 billion, with a compound annual growth rate of 5.1 percent from 2020 to 2027.

Epoxy is a common resin used to form composites in thermosetting materials. Epoxy can be used in a variety of components, structures, and concrete repair composites. The main advantages of epoxy include the ability to adapt to a wide range of products, low shrinkage, good mechanical properties, and resistance to corrosive liquids and environments.

In addition, excellent electrical properties, high efficiency at high temperatures, and a reasonable adhesion to the substrate are several other factors that influence the wide application of epoxy.

Demand for lightweight materials in the automotive and aviation industries is expected to drive global demand for epoxy due to the low weight strength ratio. In addition, the global epoxy market is expected to grow during the forecast period, driven by the demand for composite materials for pipelines, fuel tanks and oil and gas applications.

At the same time, epoxy composites are also commonly used in wind turbines because of their superior performance (such as durability, Excellent Mechanical Strength) and Reduced Weight, which significantly improves the efficiency of wind turbines. As a result, continued high growth in the wind energy industry is expected to drive global demand for epoxy.

Some of the major players in the global epoxy market right now include Barrday Inc. . , Bhor Chemicals and Plastics Private Limited, CYTEC Solvay Group, Hexcel Corporation, Mitsubishi Chemical Corporation, Park Aerospace Corp. . , Sabanc Holding, SGL Carbon Se, Teijin and Toray Industries Inc. .