The North America Epoxy Resin Market would witness market growth of 5.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 464.56 kilo tonnes, showcasing a growth of 5.0% (2019-2022).
In the epoxy resin market, solid epoxy resins play a crucial role, offering a versatile and durable solution for various applications across industries such as aerospace, automotive, construction, electronics, and coatings. Solid epoxy resins are typically produced in powder or granular form, providing manufacturers with ease of handling, storage, and transportation compared to liquid or solvent-based formulations. Thus, the US market would utilize 210.38 kilo tonnes of solid epoxy resins by 2023.
The US market dominated the North America Epoxy Resin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,909.7 million by 2030. The Canada market is exhibiting a CAGR of 8.2% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 7.3% during (2023 - 2030).
In industries such as aerospace and automotive, where weight reduction is critical for fuel efficiency and performance, it has emerged as preferred materials for lightweight structural components and composite materials. By substituting traditional materials with epoxy-based composites, manufacturers can achieve significant weight savings without compromising strength or safety, improving fuel efficiency, and reducing emissions. Epoxy resin’s versatility and customization ability to meet specific performance requirements have contributed to its widespread adoption across industries. Manufacturers can tailor epoxy formulations to achieve desired properties such as strength, flexibility, thermal stability, and flame retardancy, making it suitable for diverse applications ranging from high-performance aerospace components to decorative coatings in consumer goods.
It produces lightweight vehicle structural components, including body panels, chassis parts, suspension components, and interior trim. Epoxy-based composites help automakers reduce vehicle weight, improve fuel efficiency, and enhance performance while maintaining structural integrity and safety standards. Epoxy coatings and adhesives are used in automotive assembly and repair processes for corrosion protection, surface finishing, bonding, and sealing applications. Epoxy coatings provide durable and protective finishes for automotive bodies, wheels, and underbody components, while epoxy adhesives facilitate the assembly of various vehicle parts with high strength and reliability.
Canada has a strong aerospace manufacturing industry, with companies involved in aircraft production, component manufacturing, maintenance, repair, and overhaul (MRO) services. Ongoing advancements in epoxy resin formulations, processing technologies, and composite manufacturing techniques contribute to the growth of the aerospace sector in Canada. It manufacturers in Canada are increasingly focusing on sustainability and environmental stewardship in their product development and manufacturing processes. According to the ITA, in 2020, Canada’s aerospace sector generated revenues of US$17 billion. Hence, the factors mentioned above will drive the regional market growth.
Based on Form, the market is segmented into Liquid, and Solid. Based on Application, the market is segmented into Paints & Coatings, Adhesives & Sealants, Composites, Electronic Encapsulation, and Others. Based on Type, the market is segmented into DGBEA (Bisphenol A & ECH), DGBEF (Bisphenol F & ECH), Novolac (Formaldehyde & Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines & ECH), and Others. Based on End-use, the market is segmented into Building & Construction, Transportation, General Industrial, Consumer Goods, Wind Energy, Aerospace, Marine & Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
In the epoxy resin market, solid epoxy resins play a crucial role, offering a versatile and durable solution for various applications across industries such as aerospace, automotive, construction, electronics, and coatings. Solid epoxy resins are typically produced in powder or granular form, providing manufacturers with ease of handling, storage, and transportation compared to liquid or solvent-based formulations. Thus, the US market would utilize 210.38 kilo tonnes of solid epoxy resins by 2023.
The US market dominated the North America Epoxy Resin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,909.7 million by 2030. The Canada market is exhibiting a CAGR of 8.2% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 7.3% during (2023 - 2030).
In industries such as aerospace and automotive, where weight reduction is critical for fuel efficiency and performance, it has emerged as preferred materials for lightweight structural components and composite materials. By substituting traditional materials with epoxy-based composites, manufacturers can achieve significant weight savings without compromising strength or safety, improving fuel efficiency, and reducing emissions. Epoxy resin’s versatility and customization ability to meet specific performance requirements have contributed to its widespread adoption across industries. Manufacturers can tailor epoxy formulations to achieve desired properties such as strength, flexibility, thermal stability, and flame retardancy, making it suitable for diverse applications ranging from high-performance aerospace components to decorative coatings in consumer goods.
It produces lightweight vehicle structural components, including body panels, chassis parts, suspension components, and interior trim. Epoxy-based composites help automakers reduce vehicle weight, improve fuel efficiency, and enhance performance while maintaining structural integrity and safety standards. Epoxy coatings and adhesives are used in automotive assembly and repair processes for corrosion protection, surface finishing, bonding, and sealing applications. Epoxy coatings provide durable and protective finishes for automotive bodies, wheels, and underbody components, while epoxy adhesives facilitate the assembly of various vehicle parts with high strength and reliability.
Canada has a strong aerospace manufacturing industry, with companies involved in aircraft production, component manufacturing, maintenance, repair, and overhaul (MRO) services. Ongoing advancements in epoxy resin formulations, processing technologies, and composite manufacturing techniques contribute to the growth of the aerospace sector in Canada. It manufacturers in Canada are increasingly focusing on sustainability and environmental stewardship in their product development and manufacturing processes. According to the ITA, in 2020, Canada’s aerospace sector generated revenues of US$17 billion. Hence, the factors mentioned above will drive the regional market growth.
Based on Form, the market is segmented into Liquid, and Solid. Based on Application, the market is segmented into Paints & Coatings, Adhesives & Sealants, Composites, Electronic Encapsulation, and Others. Based on Type, the market is segmented into DGBEA (Bisphenol A & ECH), DGBEF (Bisphenol F & ECH), Novolac (Formaldehyde & Phenols), Aliphatic (Aliphatic Alcohols), Glycidylamine (Aromatic Amines & ECH), and Others. Based on End-use, the market is segmented into Building & Construction, Transportation, General Industrial, Consumer Goods, Wind Energy, Aerospace, Marine & Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Atul Ltd.
- BASF SE
- Huntsman Corporation
- Nan Ya Plastics Corp. (NPC)
- Solvay SA
- The Dow Chemical Company
- Olin Corporation
- Mitsubishi Chemical Holdings Corporation
- DIC Corporation
- Hexion Inc. (Hexion Intermediate Holding 2, Inc.)
Market Report Segmentation
By Form (Volume, Kilo Tonnes, USD Billion, 2019-2030)- Liquid
- Solid
- Paints & Coatings
- Adhesives & Sealants
- Composites
- Electronic Encapsulation
- Others
- DGBEA (Bisphenol A & ECH)
- DGBEF (Bisphenol F & ECH)
- Novolac (Formaldehyde & Phenols)
- Aliphatic (Aliphatic Alcohols)
- Glycidylamine (Aromatic Amines & ECH)
- Others
- Building & Construction
- Transportation
- General Industrial
- Consumer Goods
- Wind Energy
- Aerospace
- Marine & Others
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. North America Epoxy Resin Market by Form
Chapter 6. North America Epoxy Resin Market by Application
Chapter 7. North America Epoxy Resin Market by Type
Chapter 8. North America Epoxy Resin Market by End-use
Chapter 9. North America Epoxy Resin Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Atul Ltd.
- BASF SE
- Huntsman Corporation
- Nan Ya Plastics Corp. (NPC)
- Solvay SA
- The Dow Chemical Company
- Olin Corporation
- Mitsubishi Chemical Holdings Corporation
- DIC Corporation
- Hexion Inc. (Hexion Intermediate Holding 2, Inc.)
Methodology
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