Epoxy Resin E-44 Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Epoxy Resin E-44 Industry Hit Worst due to Russia-Ukraine War Impact?
The global epoxy resin E-44 market size is expected to gain momentum owing to its increasing demand in car and aircraft engineering during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Epoxy Resin E-44 Market, 2021-2028.” The overall market growth is being fueled by the adaptability of epoxy resins across various end-user sectors. For example, Aditya Birla Chemicals (Thailand) Limited produces a comprehensive variety of waterborne epoxy resins with great dilution efficiency, high stability, and comes in a variety of functionalities.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Epoxy Resin E-44 Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Epoxy Resin E-44 Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
By type, the market for epoxy resin E-44 is segmented into single component, two components, and multi component. On the basis of application, the market is segregated into paints & coatings, composites & constructions. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report examines considerable use of both primary and secondary data sources to provide qualitative and quantitative information. This includes researching government policy, the market environment, the competitive landscape, historical data, current market trends, technological innovation, emerging technologies, and technical advancement in linked industries, among other things.
Drivers & Restraints-
Increasing Demand in Transportation to Stimulate Growth
The increasing demand from the transportation sector is expected to boost the global epoxy resin E-44 market growth during the forecast period. Epoxy resin E-44 is used in cars, trucks, trains, and motorcycles. The cathodic electrodes position (CED) procedure is used to apply epoxy coatings to the exterior of automobiles. Besides, these coatings protect trains from debris, extend their service life, and assists to reduce the overall weight. Owing to its fundamental characteristics of toughness, strong adhesion, and chemical resistance, they are becoming increasingly popular in a variety of consumer and industrial applications.
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Increasing Focus on Construction Activities in Asia-Pacific to Promote Growth
Asia Pacific is expected to hold the largest global epoxy resin E-44 market share during the forecast period. This is due to strong demand from construction industries and their manufacturing base in the region owing to the low cost labor. Furthermore, China is one of the most active building markets in Asia-Pacific, with the industrial and construction sectors accounting for over half of the country’s GDP.
North America is anticipated to experience substantial growth in the market. This is due to the growing demand for the product from the aerospace industry. The product ensures weight reduction in the aerospace industry, which results in lower fuel consumption and better economy.
Manufacturers to Focus on R&D Investments to Offer Advanced Products
The market for epoxy resin E-44 consists of several major companies operating in it. Market potential, R&D investment, new market initiatives, global presence, and production sites and infrastructure are among the details presented. These companies are focusing on investing in research activities to ensure the development of their products. Moreover, other key players are adopting organic and inorganic growth strategies to maintain their stronghold in the market.
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April 2017: Hexicon, a chemical business based in Columbia, launched the release of a new brand of resins named as EPI REZ resin. These epoxy resins were introduced with the goal of expanding the product line for coating applications.
List of Key Players Profiled in the Global Market Epoxy Resin E-44:
- BASF SE
- Mitsui Chemicals
- Kukdo Chemicals Ltd
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