Epoxy Resin Market Demand: Impact of COVID-19 and Recovery Strategies
The global epoxy resin market size is expected to reach USD 16.87 billion by 2030, registering a CAGR of 6.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing demand for epoxy-based composites across end-use industries is expected to drive the market during the forecast period. Epoxy resins are used to manufacture composite materials that are used widely in load-bearing applications, such as automotive, aerospace, construction, oil & gas, and marine, owing to their high super adhesiveness and high mechanical &other properties. The demand for high-performance composites is expected to witness growth in the commercial airplane sector as well as emerging opportunities in various applications, such as wind turbines and pressure vessels. However, the relatively high cost and labor-intensive production of advanced composites are anticipated to prevent these composites from penetrating high-volume and price-sensitive markets. Increasing demand