Epoxy Resin Supply Market Overview
In 2017, most of the demand for epoxy resin came from the paints and coatings and electronics industries.
Epoxies, generally, have favorable properties such as high mechanical strength, superior chemical resistance, superior adhesion, and resistance to heat. Such properties make them ideal for industrial applications such as marine coatings, decorative powder coatings, and composites. In addition, the rising demand for epoxies from such industries will result in the steady increase in spend growth rate over the next couple of years. According to SpendEdge’s procurement report on the epoxy resin category, the market will witness an increase in the spend potential, driven by the booming demand for epoxy resins from the automotive and aerospace end-users.
Given the fact that the supply market for epoxy resin will witness an increase in the spend potential, a question that arises here is: what are the major supplier selection criteria and how to select the best suppliers for effective category management?
Top epoxy resin suppliers:
- Nan Ya: One of the top epoxy resin suppliers, Nan Ya was founded in 1958 and is headquartered in Taiwan with offices spread across 50+ countries. When it comes to epoxy resins, Nan Ya has two bases in Shulin and Mailao (Taiwan) and two in Kunshan (China). Over time, the company has increased its annual capacity from 18,000 MT in 1988 to more than 461,000 MT in 2015 to cater to the rising need for epoxy resin from various end-user industries.
- DowDupont: Headquartered in Midland, US, DowDupont has been one of most prominent epoxy resin suppliers, employing over 98,000 employees in more than 130 countries. It is an American company, which was formed after the merger of DuPont and Dow Chemical. A merger of this scale would help the company to compete against their larger global peers. Post the merger, the company was split into three independent, publicly-traded companies: a materials science, an agriculture, and a specialty products company.
- Chang Chun Group: Founded in 1964, Chang Chun Group is one of the world’s foremost epoxy resin suppliers. The company is headquartered in Taipei, Taiwan and employs more than 2000 people. Chang Chun has a broad portfolio of epoxy resins which are manufactured using their own proprietary technologies. The products offered by them are multi-purpose and have a high-performance ratio.
- Hexion: Headquartered in Ohio, US, Hexion is one of the biggest epoxy resin suppliers in the world. They employ more than 4000 employees, who are spread across 90 countries. Hexion is well-known for offering a wide range of proven, consistently high-performing materials to help end-users succeed in their ventures.
- Olin Corporation: One of the world’s most renowned epoxy resin suppliers, Olin Corporation employs over 6,400 people in offices that are spread across 20+ countries. The company’s headquarters is in Missouri, US. For over 60 years, Olin Corporation has carved a niche for itself when it comes to offering advanced epoxy technology.
Uses of epoxy resin
Epoxy resin finds versatile applications due to its remarkable adhesive and protective properties. It’s commonly used in construction for bonding, sealing, and coating materials like wood, metal, and concrete. In electronics, it safeguards delicate components from moisture and vibrations. Artists utilize epoxy for creating glossy, durable coatings on paintings, sculptures, and crafts. Its moldable nature makes it valuable in crafting jewelry and decorative pieces. Epoxy’s strength is harnessed in manufacturing aircraft, boats, and automotive parts. Additionally, it serves in healthcare for dental impressions and orthopedic casting. From artistry to industry, epoxy resin’s diverse uses showcase its effectiveness in preserving, enhancing, and building various products.
Types of epoxy resin
Standard epoxy resin:
The most popular kind of epoxy resin is called standard epoxy resin, and it is frequently used in general bonding, coating, and sealing applications. It can be applied to a variety of surfaces, including metals, concrete, and wood because it dries to a tough and long-lasting finish. Construction, do-it-yourself projects, and crafts all frequently use it.
Clear epoxy resin:
Epoxy resin that is translucent and cures to a crystal-clear finish is called clear epoxy resin. Glossy finishes on artwork, tabletops, jewelry, and other ornamental things are frequently made with it. It is perfect for encasing artifacts for display or preservation due to its clarity.
High-Temperature Epoxy Resin:
This type of epoxy resin is designed to withstand elevated temperatures without degrading or losing its structural integrity. It’s used in applications where exposure to heat or thermal cycling is expected, such as in aerospace, automotive, and industrial settings. High-temperature epoxy resins are essential for bonding and sealing components in environments where standard epoxy might fail due to heat stress.
SpendEdge’s procurement report offers strategic insights on top epoxy resin suppliers and helps category managers to gain information on the procurement trends, pricing models, supply market, and key sourcing procurement challenges affecting the global epoxy resin market.