Asia-pacific Epoxy Resins Market Forecast 2021-2028
The Asia-Pacific epoxy resins market is evaluated to register a CAGR of 4.93% over the forecast period of 2021 to 2028. The high population base, key developments across multiple industries, the surging number of applications, and the augmenting research and development sector are primarily credited to the region’s market growth.
The Asia-Pacific epoxy resins market growth analysis entails the assessment of Vietnam, South Korea, China, Indonesia, Australia & New Zealand, Japan, India, Thailand, and the rest of the Asia-Pacific. The construction industry in India is anticipated to develop at a significant rate over the upcoming decade. The growth is likely to be supplemented by the expanded private sector involvement as well as the stable government support for infrastructural improvements. The country’s government provision is illustrated through the expansionary budgetary allocations for infrastructure projects, in addition to regulatory reforms, opening novel sectors to private investments and involvement.
On the other hand, South Korea’s construction sector is set to continue to grow on account of investments in avenues like energy, public infrastructure, industrial and commercial projects, and improvements in investor and consumer confidence. Furthermore, an increase in building permits for constructing residential and non-residential buildings across South Korea will facilitate the industry’s growth over the forecasting years. The government’s focus on the development of transport infrastructure, coupled with the efforts established to bolster energy production, is expected to fuel funding towards the construction industry. Hence, these factors are associated with the Asia-Pacific epoxy resins market growth.
Some of the leading companies operating in the market include Kukdo Chemical Co Ltd, Chang Chun Plastics Company Ltd, Aditya Birla Chemicals Ltd, etc.
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