Epoxy Type Stabilizer Market Trends

Growth Drivers

• Growing Use of Epoxy Resin in Various Applications - The increasing usage of epoxy resin in various applications, such as adhesives, coatings, construction, and others, is expected to drive market growth. With the increasing application in the construction sector, over USD 145 billion resin was generated in the year 2020 in the United States.
• Rising Need for the Prevention of UV Light-Induced Distortion - Epoxy type stabilizers extend the life of substrates by preventing decay corrosion and UV light-induced distortion. For instance, UV degradation can affect many natural and synthetic polymers, including rubber, plastics, and more.
• Rising Use of Adhesives in the Automotive & Transportation Industry - The growing demand for automotive parts, as well as the use of adhesives in the automotive industry, backed by the rising production and sales of vehicles, are expected to drive the market growth. According to the International Organization of Motor Vehicle Manufacturers (OICA), the global sales of all vehicles were around 83 million in 2021.
• Growing Application of Adhesives for Making Furniture - The rising use of adhesives for making furniture, backed by the increasing exports of furniture globally, is expected to boost the market growth owing to the multi-purpose properties of these adhesives such as water-proof properties, strong bonds, and others. Epoxy resin can be used as an adhesive to stabilize wood in a way that is adequate for many applications. Further, as per the ITC Trade Map data, the worldwide export value of wooden furniture for offices without seats was USD 4,137,415 thousand in 2021.

Challenges

• Access to Numerous Low-Cost Alternatives - Other cheap and less expensive alternatives for epoxy include polyesters and vinyl esters. Both these chemical compounds are cheaper than epoxy and are used for the construction and repair of fiberglass boats. The increasingly cheaper options to replace epoxy is estimated to hinder the market growth during the forecast period.
• High Price of Epoxy Type Stabilizers
• Harmful Health Effects of These Chemicals