The Global Epoxy Resins Market is undergoing many changes. According to Transparency Market Research, favorable trends such as growing innovation will drive the global epoxy resins market significantly. By 2020, the global epoxy resins market is projected to be worth more than US$10.5 bn, up from its estimated value of US$6.6 bn in 2013. One of the strongest trends the global epoxy resins market will witness in the coming few years is that of innovation.
Prominent Innovation-related Trends and Projects and Events
On the basis of application, the global epoxy resins market is segmented into adhesives, electrical and electronics, construction, composites, wind energy, paints and coatings, and others. At present, the market is experiencing rising demand for epoxy resins from the aerospace and wind energy industry. This, in turn, is pushing players in the global epoxy resins market to innovate products suitable for aerospace and wind energy applications.
Innovation in the global epoxy resins market can be seen in several ways. Let us take a look at the top innovation-related trends projected to shape the dynamics of the global epoxy resins market.
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Trend #1 – Companies Coming Together to Innovate
Many major corporations are collaborating in the global epoxy resins market to drive product innovation, in order to benefit from shared know-how and to minimize expenditure of various resources.
In Sep 2015, a letter was signed between the firms Haydale Composites Solutions (HCS, U.K.) and Huntsman Advanced Materials (Switzerland) to initiate a joint development and commercialization project. According to this agreement, Haydale will be involved in functionalizing graphene nano platelets by deploying a proprietary process and add these platelets to Huntsman’s ARALDITE epoxy resins in order to create a highly loaded masterbatch....