The Japan Epoxy Resins Market is projected to witness a growth in its revenue from US$ 197.8 Mn in 2021 to US$ 226.2 Mn by 2027. The market is registering a CAGR of 2.3% during the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 1.1% over the projection period. Epoxy resins, also known as polyepoxides, are a class of reactive prepolymers and polymers which contain epoxide groups. Further, epoxy resins can be combined with varied curing agents and modifiers to achieve the properties required for a specific application. The key properties of epoxy resins are high strength, low shrinkage, excellent adhesion to various substrates, effective electrical insulation, chemical & solvent resistance, and low toxicity among others. Epoxy resins have a wide range of applications including paints & coatings, composites, adhesives & sealants, and encapsulation among others.
The market is majorly driven by factors such as an increase in demand for lightweight composites and infrastructural development. Epoxy systems are used in industrial applications to produce molds, master models, laminates, castings, fixtures, and other industrial production aids. This "plastic tooling" replaces metal, wood, and other traditional materials, and generally improves efficiency, lowers the overall cost, and shortens the lead-time for many industrial processes. Epoxies are also used in producing fiber-reinforced or composite parts. In addition, epoxy resin formulations are important in the electronics industry, and are employed in motors, generators, transformers, switchgear, bushings, insulators, printed wiring boards (PWB), and semiconductor encapsulants. Moreover, epoxy composites are of potential interest for the aerospace and transportation industries as a lightweight material that can improve fuel efficiency and add impact strength. Thus, the emergence of lightweight and fuel-efficient vehicles is expected to provide a lucrative opportunity for market expansion. Furthermore, Japan has a very advanced and well-maintained physical infrastructure, which undergoes regular upgrading and expansion, which in turn is expected to propel the market growth. However, the characteristic disadvantages of epoxy resins over alternatives such as vinyl ester resins and volatility in the prices of raw materials are hindering the growth of the epoxy market of Japan.
Key Insights of the Report:
Key Takeaways from the Japan Epoxy Resins Market Report:
Competitive Landscape
The key players in the Japan Epoxy Resins Market are Sumitomo Chemical Co., Ltd., Adeka Corporation, Huntsman International LLC, Jiangsu Sanmu Group, Olin Corporation, Dic Corporation, Mitsubishi Chemical Corporation, NIPPON STEEL Chemical & Material Co., Ltd., Sakamoto Yakuhin Kogyo Co., Ltd., and New Japan Chemical Co., Ltd., among others. Through extensive research, it is found that big players have adopted various competitive strategies such as merger & acquisition in order to have a grip in the stabilized Japanese market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
The following are the different segments of the Japan Epoxy Resins Market:
By Type segment of the Japan Epoxy Resins Market is sub-segmented into:
By Form segment of the Japan Epoxy Resins Market is sub-segmented into:
By Application segment of the Japan Epoxy Resins Market is sub-segmented into:
By End User segment of the Japan Epoxy Resins Market is sub-segmented into:
The key properties of epoxy resins are high strength, low shrinkage, excellent adhesion to various substrates, effective electrical insulation, chemical & solvent resistance, and low toxicity among others.
Epoxy resins have a wide range of applications including paints & coatings, composites, adhesives & sealants, and encapsulation among others.
Japan Epoxy Resins Market was valued at US$ 197.8 Mn in 2021.
The Japan Epoxy Resins Market is estimated to expand at a CAGR of 2.3% over the forecast period 2022-2027.
The market is majorly driven by factors such as an increase in demand for lightweight composites and infrastructural development.
The characteristic disadvantages of epoxy resins over alternatives such as vinyl ester resins and volatility in the prices of raw materials are expected to hinder market growth.
The emergence of lightweight and fuel-efficient vehicles is expected to provide a lucrative opportunity for market expansion.
The DGBEA (Bisphenol A and ECH) type holds the highest share in the epoxy resins market of Japan.
Paint & coatings application dominates the Japan Epoxy Resins market in 2021.
Building & construction industry is the highest end user industry in the epoxy resins market of Japan.
The key players in the Japan Epoxy Resins Market are Sumitomo Chemical Co., Ltd., ADEKA Corporation, Huntsman International LLC, Mitsubishi Chemical Corporation, Sakamoto Yakuhin Kogyo Co., Ltd., and New Japan Chemical Co., Ltd., among others.