New York, United States, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The Global High Purity Epoxy Resin Market Size is to Grow from USD 4,846 Million in 2022 to USD 8,849 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 6.21% during the projected period.
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High-purity epoxy resins are epoxy-based polymers with extremely low impurities. Impurities in epoxy resins commonly include moisture, inorganic contaminants, residual monomers, and other organic compounds. High-purity epoxy resins are manufactured with meticulous control over the process to ensure the absence of impurities, resulting in resins with superior performance and dependability. High-purity epoxy resin products are classified into several categories, including electrical grade epoxy resin and others. Electrical-grade epoxy resins are widely used in the encapsulation and coating of electric circuit components. They protect the device from harmful substances such as gases, current leakage, moisture, mechanical shocks, and so on. Furthermore, increasing demand for home appliances and consumer electronics as a result of increased internet penetration, rising living standards, and rising disposable income are all factors favoring semiconductor demand. The introduction of a high-purity bio-based epoxy resin has the potential to generate a significant market opportunity. Industrialization, urbanization, and infrastructure development drive emerging applications in developing economies. Furthermore, technological advancements have played an increasingly important role in shaping the epoxy resin market. However, raw material price volatility, particularly for epoxy precursors and curing agents, has a negative effect on manufacturer profitability. Furthermore, there is fierce competition from alternative resins such as polyurethane and phenolic resins, which offer comparable properties at a lower cost.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global 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."
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The bisphenol A epoxy resin segment is expected to grow fastest in the global high-purity epoxy resin market during the forecast period.
Based on type, the high-purity epoxy resin market has been segmented 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. As a result of their superior properties and performance, bisphenol A (BPA) epoxy resins are in high demand across a wide range of industries. These resins have not only high mechanical strength, adhesion, and chemical resistance, but also an exceptional ability to withstand harsh environments and extreme temperatures. BPA epoxy resins are the preferred choice for applications that require durability and longevity due to their high-performance characteristics.
The electrical grade segment is expected to grow at the highest pace in the global high-purity epoxy resin market during the anticipated period.
Based on the product, the global high-purity epoxy resin market is divided into electrical grade, and others. Among these, electrical grade is expected to grow at the highest pace in the global high-purity epoxy resin market during the forecast period. excellent mechanical properties, high toughness, high thermal resistance, low thermal expansion, and improved electric insulation in a high voltage connector are among the benefits that have driven the expansion of the electrical grade epoxy resins market.
The semiconductor dominates 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 dominates in the global high-purity epoxy resin market during the forecast period. The use of high-purity epoxy resins during the encapsulation process protects the delicate semiconductor components from contamination, resulting in optimal performance and longevity. The meticulous attention to detail in ensuring the purity of the encapsulation demonstrates a dedication to excellence in semiconductor manufacturing.
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Asia-Pacific dominates the market with the largest market share over the forecast period.
Asia-Pacific is projected to hold the largest share of the global high-purity epoxy resin market over the forecast period. In addition to their importance 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, from intricate circuitry in electronic devices to long-lasting coatings in automotive manufacturing. Furthermore, Asia Pacific's high-purity epoxy resin market dominance is due to the rapid growth of its end-use industries.
North America is expected to grow the fastest in the global high-purity epoxy resin market during the anticipated forecast period. Rising disposable income, an expanding middle-class population, ongoing urbanization, and an increase in spending on more feature-rich home appliances are driving demand for semiconductors and their encapsulation, leading to the growth of the global high-purity epoxy resin market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market 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. Major vendors in the global high-purity epoxy resin market are 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.
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Market Segment
This study forecasts revenue at global purity epoxy resin, 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, Type
- Bisphenol A Epoxy Resin
- Bisphenol F Epoxy Resin
- Others
Global High Purity Epoxy Resin Market, Product
- Electrical Grade
- Others
Global High Purity Epoxy Resin Market, Application
- Semiconductor Encapsulation
- Electronic Components
- Others
Global High Purity Epoxy Resin Market, Regional Analysis
- 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
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