HBPA Epoxy Resin Market Report: By Product, Application, End-User, Geography and Company Profile, MarketsandMarkets™ Study

The report "HBPA Epoxy Resin Market by Physical Form (Liquid and Solid), Application (E&E Coating, Industrial Coating, and Others), and Region (APAC, Europe, North America, South America, and Middle East & Africa) - Global Forecast to 2023" The HBPA epoxy resin market is projected to grow from USD 1.7 billion in 2018 to USD 2.2 billion by 2023, at a CAGR of 5.1% between 2018 and 2023. There is an increase in the demand for HBPA epoxy resin in the industrial and E&E coating segments to protect the machines and industrial infrastructure from external weather conditions and chemical attack. Increasing urbanization and industrialization are the key factors driving the demand for HBPA epoxy resin in these applications. However, volatility in raw material prices and high price of HBPA epoxy resin are hampering the market growth.

On the basis of application, the E&E coating segment is estimated to lead the HBPA epoxy resin market in 2018.

E&E is the largest application of HBPA epoxy resin. These resins are widely used in electrical casting and electrical laminates in several high-voltage electrical machines such as transformers, generators, motors, switch gears, surge accelerators, and isolators. HBPA epoxy resin is used in these machines to protect them from external weather conditions and prevent the yellowing of their surfaces. The increase in urbanization and industrialization drives the consumption of electrical machines on a commercial scale, which, in turn, is fueling the demand for HBPA epoxy resin.
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