Global High Purity Epoxy Resin Market Size, Share, and COVID-19 Impact Analysis, By Type (Bisphenol A Epoxy Resin, Bisphenol F Epoxy Resin, Others), By Product (Electrical Grade, Others), By Application (Semiconductor Encapsulation, Electronic Components, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

Industry: Chemicals & Materials

RELEASE DATE Feb 2024
REPORT ID SI3699
PAGES 200
REPORT FORMAT PathSoft

Global High Purity Epoxy Resin Market Insights Forecasts to 2032

  • The Global High Purity Epoxy Resin Market Size was valued at USD 4,846 Million in 2023.
  • The Market Size is Growing at a CAGR of 6.21% from 2023 to 2033
  • The Worldwide High Purity Epoxy Resin Market Size is expected to reach USD 8,849 Million by 2033
  • North America is expected to Grow the fastest during the forecast period

 

Global High Purity Epoxy Resin Market

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The Global High Purity Epoxy Resin Market size is anticipated to exceed USD 8,849 Million by 2033, Growing at a CAGR of 6.21% from 2023 to 2033.

 

Market Overview

High-purity epoxy resins are epoxy-based polymers that contain extremely low levels of impurities. Impurities in epoxy resins typically include moisture, inorganic contaminants, residual monomers, and other organic compounds. High-purity epoxy resins are produced with meticulous control over the manufacturing process to ensure the absence of impurities, resulting in resins with superior performance and reliability. There are several types of high-purity epoxy resin products, including electrical grade epoxy resin and others. Electrical grade epoxy resins are widely used in the encapsulation and coating of electric circuit components, where they protect the device from harmful substances such as gases, current leakage, moisture, mechanical shocks, and so on. Electrical grade epoxy resin contributes to high thermal resistance, low thermal expansion, and improved electric insulation in a high voltage connector, thereby helping to expand the electric grade segment. Other product categories include automotive coating, food coating grade, chemical grade, and adhesive epoxy and the use of this resin in various industries contributes to the segmental growth. furthermore, Semiconductors, as fundamental components of electronic devices, play an important role in sustaining our interconnected world. The use of high-purity epoxy resins in semiconductor manufacturing not only improves performance and longevity but also ensures that our devices are reliable and efficient. Thus, the demand for high-purity epoxy resins is increasing. Furthermore, increasing demand for home appliances and consumer electronics due to increased internet penetration, rise in living standards, and hike in disposable income are some of the factors favoring semiconductor demand. The introduction of a high-purity bio-based epoxy resin has the potential to create a lucrative market opportunity.

 

Report Coverage

This research report categorizes the market for global high-purity epoxy resin market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global high-purity epoxy resin market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global high-purity epoxy resin market.

 

Global High Purity Epoxy Resin Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 4,846 Million
Forecast Period:2023 - 2033
Forecast Period 2023 - 2033 CAGR:6.21%
2033 Value Projection:USD 8,849 Million
Historical Data for:2019 - 2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Type, By Product, By Application, By Region.
Companies Covered: Hexion Inc., Huntsman Corporation, Nan Ya Plastics Corporation, Olin Corporation, Kukdo Chemical Co., Ltd., Aditya Birla Chemicals Ltd., Mitsubishi Chemical Corporation, DIC Corporation, Chang Chun Group, Atul Ltd., The Dow Chemical Company, 3M Company, BASF SE, and Others
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

Increasing demand from the electrical and electronics industries for printed circuit boards, semiconductors, and other electronic components, and also advances in epoxy resin formulations, such as low-VOC and eco-friendly alternatives, to meet stringent environmental regulations. Epoxy resins are increasingly used in the aerospace and automotive industries for lightweight composite materials and structural applications. Additionally, rising construction activity and infrastructure development are driving up demand for epoxy-based coatings, adhesives, and sealants. Emerging applications in emerging economies are driven by industrialization, urbanization, and infrastructure development. Furthermore, technological advancements have become increasingly important in determining the epoxy resin market. These advancements have significantly improved product quality and performance. Finally, the remarkable growth of the electronics industry is a major driving force behind the global high-purity epoxy resin market.

 

Restraining Factors

Raw material price volatility, particularly for epoxy precursors and curing agents, has a negative effect on manufacturer profitability, as has the lack of awareness and high costs associated with high-purity epoxy resins, which has hampered their adoption in certain end-use industries. Environmental concerns have led to a greater emphasis on sustainable and recyclable epoxy resin formulations. In addition, there is intense competition from alternative resins such as polyurethane and phenolic resins, which provide similar properties at a lower cost. 

 

Market Segmentation

The global high-purity epoxy resin market share is classified into type, product, and application.

  • The bisphenol A epoxy resin segment is expected to grow fastest in the global high-purity epoxy resin market during the forecast period.     

The global high-purity epoxy resin market is categorized by type into bisphenol A epoxy resin, bisphenol F epoxy resin, and others. Among these, the bisphenol A epoxy resin segment is expected to grow fastest in the global high-purity epoxy resin market during the forecast period. Bisphenol A (BPA) epoxy resins are highly sought after in a variety of industries owing to their exceptional properties and performance. These resins have not only excellent mechanical strength, adhesion, and chemical resistance, but also a remarkable ability to withstand harsh environments and extreme temperatures. These high-performance characteristics make BPA epoxy resins the preferred choice for applications requiring durability and longevity. The use of BPA epoxy resins in such a diverse range of applications contributes significantly to their market dominance, as demand from these industries continues to drive growth.

 

  • The electrical grade segment is expected to grow at the highest pace in the global high-purity epoxy resin market during the forecast period.   

Based on the product, the global high-purity epoxy resin market is divided into electrical grade, and others. Among these, the electrical grade segment is expected to grow at the highest pace in the global high purity epoxy resin market during the forecast period. Electrical grade epoxy resins are widely used in the encapsulation and coating of electric circuit components, where they protect the device from harmful substances such as gases, current leakage, moisture, mechanical shocks, and so on. Furthermore, excellent mechanical properties, high toughness, high thermal resistance, low thermal expansion, and improved electric insulation in a high voltage connector are among the advantages that have driven the growth of the electrical grade epoxy resins segment.

 

  • The semiconductor encapsulation segment is expected to hold the largest share of the global high-purity epoxy resin market during the forecast period.

Based on the application, the global high-purity epoxy resin market is divided into semiconductor encapsulation, electronic components, and others. Among these, the semiconductor encapsulation segment is expected to hold the largest share of the global high-purity epoxy resin market during the forecast period. Epoxy resins are well known for their exceptional properties, which include high thermal stability, excellent electrical insulation, and superior chemical resistance. These exceptional properties make them ideal for semiconductor encapsulation, providing unparalleled protection from harsh environmental conditions, mechanical stress, and electrical interference. Furthermore, the use of high-purity epoxy resins during the encapsulation process ensures that the delicate semiconductor components are not contaminated, resulting in optimal performance and longevity. The meticulous attention to detail in ensuring the purity of the encapsulation emphasizes the commitment to excellence in semiconductor manufacturing.

 

Regional Segment Analysis of the Global High-Purity Epoxy Resin Market

  • North America (U.S., Canada, Mexico) 
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • South America (Brazil and the Rest of South America) 
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia-Pacific is anticipated to hold the largest share of the global high-purity epoxy resin market over the predicted timeframe.

 

Global High Purity Epoxy Resin Market

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Asia-Pacific is projected to hold the largest share of the global high-purity epoxy resin market over the predicted years. Due to their critical role in key industries, high-purity epoxy resins are in high demand in Asia-Pacific. Epoxy resins have become an essential component in ensuring product quality and longevity, ranging from the intricate circuitry of electronic devices to the durable coatings used in automotive manufacturing. Furthermore, the rapid growth of end-use industries in Asia Pacific has contributed to the regional market dominance. The construction industry is experiencing unprecedented growth, driven by the need for modern infrastructure and urban development. The electronics industry is thriving as technological advancements increase demand for innovative devices. The automotive and aerospace industries are also experiencing major expansion, driven by rising consumer demand for efficient and environmentally friendly transportation solutions.

 

North America is expected to grow fastest in the global high-purity epoxy resin market during the forecast period. Increasing demand for consumer electronics in the region owing to rising disposable income, an expanding middle-class population, ongoing urbanization, and a rise in spending on home appliances with more features is driving demand for semiconductors and their encapsulation, leading to the growth of the high-purity epoxy resin market.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved in the global high-purity epoxy resin along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Hexion Inc.
  • Huntsman Corporation
  • Nan Ya Plastics Corporation
  • Olin Corporation
  • Kukdo Chemical Co., Ltd.
  • Aditya Birla Chemicals Ltd.
  • Mitsubishi Chemical Corporation
  • DIC Corporation
  • Chang Chun Group
  • Atul Ltd.
  • The Dow Chemical Company
  • 3M Company
  • BASF SE
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Global High Purity Epoxy Resin Market based on the below-mentioned segments:

 

Global High Purity Epoxy Resin Market, By Type

  • Bisphenol A Epoxy Resin
  • Bisphenol F Epoxy Resin
  • Others

 

Global High Purity Epoxy Resin Market, By Product

  • Electrical Grade
  • Others

 

Global High Purity Epoxy Resin Market, By Application

  • Semiconductor Encapsulation
  • Electronic Components
  • Others

 

Global High Purity Epoxy Resin Market, By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions (FAQ)

  • 1) What are the key driving factors for the growth of the high-purity epoxy resin market?
    An increase in demand from end-use industries and a surge in the need for lightweight composites in aerospace and wind turbine applications are presently driving the growth of the high-purity epoxy resin market
  • 2) What segments are covered in the high-purity epoxy resin market report?
    The global high-purity epoxy resin market is segmented on the basis of type, product, application, and geography.
  • 3) What is the projected market size & growth rate of the high-purity epoxy resin market?
    High-purity epoxy resin market was valued at USD 4,846 Million in 2023 and is projected to reach USD 8,849 Million by 2033, growing at a CAGR of 6.21% from 2023 to 2033.

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