What is Epoxy Glass Market?
Epoxy glass is defined as the transparent, hard and brittle substance which is derived from the polymerization of epoxides. It is made up of a combination of fiberglass cloth as well as polymerized resin material. The numerous benefits of using epoxy material such as low moisture absorption, low chemical reactivity, high tensile strength, radiation resistance and others. Requirement for material with high mechanical strength, lightweight, and resistance against corrosion are expected to drive growth of the epoxy glass market over the years to come.
The market study is being classified by Type (Lay-up, Compression Molding, Resin Injection, Resin Transfer Molding, Filament Winding and Pultrusion), by Application (Wind Energy, Aerospace & Defense, Sporting Goods, Automotive & Transportation, Electrical & Electronics, Pipe & Tank, Marine and Others) and major geographies with country level break-up.
Cytec Solvay Group (Belgium), Royal TenCate N.V. (Netherlands), Teijin Limited (Japan), Toray Industries, INC. (Japan), Hexcel Corporation (United States), SGL Group (Germany), Gurit Holdings AG (Switzerland), Park Electrochemical Corporation (United States), Mitsubishi Rayon Co. Ltd. (Japan) and Axiom Materials (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Kemrock Industries and Exports Limited (India), Sumitomo Bakelite Co. Ltd. (Japan), Myko Engineering (Israel), Rotec Composite Group B.V. (Netherlands), Barrday (Canada), Gordon Composites, Inc. (United States), Hindoostan Composite Solutions (India), ATL Composites (Australia), IDI Composites (United States) and Isosport (Germany).
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global epoxy glass market can witness an upsurge in the forecast period. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Epoxy Glass market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Epoxy Glass market by Type, Application and Region.
On the basis of geography, the market of Epoxy Glass has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Demand for Epoxy Composite from Wind Energy Industry
- Emerging Demand from Developing Countries
Market Trend
- Technology Advancement of Epoxy glass Products
Restraints
- Increasing Popularity of Alternative Resins
- Issues Related to Remouldability and Recyclability
- High Volatility in Raw Material Prices
Opportunities
- Growing Wind Energy Industry in Developing Economies
- Adoption of Low Cost Production Technologies
Challenges
- Issue related to High Cost of Raw Material and Research & Development Activities
- Reduce Cycle Time of Epoxy Composite Part Manufacturing
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Market Leaders and some development strategies
On March 2017, the Hexion Inc. (United States) Company has launched New Epoxy Resin System for SMC Manufacturing of Automotive Composites. In addition, it is combined with glass and carbon fibers. Hence, this product launched will help in strengthening the position of the company in the United States and On March 2019, the Axalta Coating Systems (United Sates) Company has launched Voltacast 3310 products, which is epoxy resin in its energy solutions portfolio. Moreover, glass transition temperatures range is 24ºC, 60ºC and 95ºC in Voltacast material. Therefore, it will in turn propel the growth of the epoxy glass market in future.
Key Target Audience
Manufacturers of Epoxy Glass, Suppliers of Epoxy Glass, Wholesalers, Distributors and Retailers of Epoxy Glass, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others