Market Overview:
The global marine epoxy resin market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for epoxy resins from end-use industries such as hulls, mast and stringers, decks, interiors, and others. In terms of type, the catalyst segment is projected to lead the global marine epoxy resin market during the forecast period. This can be attributed to its properties such as high reactivity and fast curing time that make it suitable for use in various applications. In terms of application, hulls are projected to lead the global marine epoxy resin market during the forecast period owing to their growing demand in boatbuilding and shipbuilding industries across regions.
Product Definition:
A two-part epoxy resin system specifically designed for marine applications. It is often used to coat boat hulls and decks, making them both watertight and durable.
Catalyst:
Catalyst is used in epoxy resin production. It helps to increase the speed of reaction and lower catalyst cost when compared to other materials such as bisphenol A, sulfuric acid or phosphoric acid. The most common catalysts used are aluminum oxide and silica-alumina. Catalyst can also be defined as a substance that increases the rate of a particular chemical reaction without being consumed in it's formation.
Hardener:
Hardener is a substance added to the resin in order to make it set. It's function is similar to that of adhesives, but it sets quicker than adhesives. The two major types of hardeners are non-ionic and cationic. Cationic hardeners have an ammonium group (RNH2) and non-ionic has no ammonium group (RO).
Application Insights:
The decks segment emerged as the leading application and accounted for over 30% of the overall revenue share in 2017. The product is widely used to manufacture decking, stringers, bulkheads and other marine components that are required to withstand harsh environments such as UV rays, saltwater corrosion, temperature fluctuations and waves.
Epoxy resins have excellent resistance against impact damage which makes them suitable for use in interiors along with providing a comfortable ride to passengers on board ships or boats. They also find applications in manufacturing washrooms & showers at sea ports where they are exposed to moisture-related problems due largelyto high humidity levels inside the cabin of a ship or yacht.
Regional Analysis:
Asia Pacific was the leading regional market in 2017 and is expected to continue its dominance over the forecast period. The region accounts for a major share of global trade and has some of the busiest ports, which will boost marine transportation across the globe. Moreover, increasing foreign investments coupled with favorable government regulations are anticipated to drive industry expansion over next eight years.
The European market is projected to witness significant growth during the forecast period owing to rising demand from end-use industries such as shipbuilding, automotive, and construction among others. Increasing R&D activities by various companies pertaining to Epoxy resins application in marine applications are likely to augment industry growth in this region over next eight years.
Growth Factors:
- Increasing demand for marine epoxy resin from the construction and automotive industries as a result of its superior properties such as high strength, durability, and resistance to corrosion.
- Growing popularity of composites in the marine industry due to their lightweight nature and superior mechanical properties compared to traditional materials such as wood and metal.
- Rising demand for epoxy resin from boat builders due to its ability to provide protection against water ingress and increase the lifespan of boats/vessels.
- Increasing use of epoxy resin in wind turbine blades owing to its excellent thermal insulation properties that help reduce energy losses caused by heat transfer.
- Technological advancements in the production process of marine epoxy resins that are resulting in improved quality, performance, and reduced manufacturing costs
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Epoxy Resin Market Research Report
By Type
Catalyst, Hardener, Others
By Application
Hulls, Mast and Stringers, Decks, Interiors, Others
By Companies
DuPont, Aditya Birla Chemicals Ltd., Hexion Inc., Huntsman Corporation, Sicomin Epoxy Systems, Wessex Resin, MAS Epoxies, Adhesive Systems Inc., ArmorPoxy
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
126
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global Marine Epoxy Resin Market Report Segments:
The global Marine Epoxy Resin market is segmented on the basis of:
Types
Catalyst, Hardener, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hulls, Mast and Stringers, Decks, Interiors, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- DuPont
- Aditya Birla Chemicals Ltd.
- Hexion Inc.
- Huntsman Corporation
- Sicomin Epoxy Systems
- Wessex Resin
- MAS Epoxies
- Adhesive Systems Inc.
- ArmorPoxy
Highlights of The Marine Epoxy Resin Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Catalyst
- Hardener
- Others
- By Application:
- Hulls
- Mast and Stringers
- Decks
- Interiors
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine Epoxy Resin Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Marine epoxy resin is a type of adhesive that is used to bond two pieces of wood together. It is also used as a sealant for joints in boats and other marine equipment. Marine epoxy resin has a high resistance to water and chemicals, making it ideal for use in maritime applications.
Some of the major players in the marine epoxy resin market are DuPont, Aditya Birla Chemicals Ltd., Hexion Inc., Huntsman Corporation, Sicomin Epoxy Systems, Wessex Resin, MAS Epoxies, Adhesive Systems Inc., ArmorPoxy.
The marine epoxy resin market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Epoxy Resin Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine Epoxy Resin Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Epoxy Resin Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine Epoxy Resin Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine Epoxy Resin Market Size & Forecast, 2018-2028
4.5.1 Marine Epoxy Resin Market Size and Y-o-Y Growth
4.5.2 Marine Epoxy Resin Market Absolute $ Opportunity
Chapter 5 Global Marine Epoxy Resin Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Marine Epoxy Resin Market Size Forecast by Type
5.2.1 Catalyst
5.2.2 Hardener
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine Epoxy Resin Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Marine Epoxy Resin Market Size Forecast by Applications
6.2.1 Hulls
6.2.2 Mast and Stringers
6.2.3 Decks
6.2.4 Interiors
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Epoxy Resin Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine Epoxy Resin Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Marine Epoxy Resin Analysis and Forecast
9.1 Introduction
9.2 North America Marine Epoxy Resin Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Marine Epoxy Resin Market Size Forecast by Type
9.6.1 Catalyst
9.6.2 Hardener
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Marine Epoxy Resin Market Size Forecast by Applications
9.10.1 Hulls
9.10.2 Mast and Stringers
9.10.3 Decks
9.10.4 Interiors
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Marine Epoxy Resin Analysis and Forecast
10.1 Introduction
10.2 Europe Marine Epoxy Resin Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Marine Epoxy Resin Market Size Forecast by Type
10.6.1 Catalyst
10.6.2 Hardener
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Marine Epoxy Resin Market Size Forecast by Applications
10.10.1 Hulls
10.10.2 Mast and Stringers
10.10.3 Decks
10.10.4 Interiors
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Marine Epoxy Resin Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine Epoxy Resin Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Marine Epoxy Resin Market Size Forecast by Type
11.6.1 Catalyst
11.6.2 Hardener
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Marine Epoxy Resin Market Size Forecast by Applications
11.10.1 Hulls
11.10.2 Mast and Stringers
11.10.3 Decks
11.10.4 Interiors
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Marine Epoxy Resin Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine Epoxy Resin Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Marine Epoxy Resin Market Size Forecast by Type
12.6.1 Catalyst
12.6.2 Hardener
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Marine Epoxy Resin Market Size Forecast by Applications
12.10.1 Hulls
12.10.2 Mast and Stringers
12.10.3 Decks
12.10.4 Interiors
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Marine Epoxy Resin Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine Epoxy Resin Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Marine Epoxy Resin Market Size Forecast by Type
13.6.1 Catalyst
13.6.2 Hardener
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Marine Epoxy Resin Market Size Forecast by Applications
13.10.1 Hulls
13.10.2 Mast and Stringers
13.10.3 Decks
13.10.4 Interiors
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine Epoxy Resin Market: Competitive Dashboard
14.2 Global Marine Epoxy Resin Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 DuPont
14.3.2 Aditya Birla Chemicals Ltd.
14.3.3 Hexion Inc.
14.3.4 Huntsman Corporation
14.3.5 Sicomin Epoxy Systems
14.3.6 Wessex Resin
14.3.7 MAS Epoxies
14.3.8 Adhesive Systems Inc.
14.3.9 ArmorPoxy
