According to the new market research report the European Epoxy Resins Market report defines and segments the concerned market with analysis and forecast of revenue. This market was valued at $1,348.9 million in 2013, and is projected to reach $1,793.8 million by 2019, at a CAGR of 6.0 % from 2013 to 2019.
In 2014, Europe was the second-largest consumer of epoxy resins in the world, accounting for 22.2% of the total market in terms of volume. About 35.5% of demand in 2014 came from the paints & coatings application in this region. The wind turbine application, which includes epoxies for coatings and adhesives, represented around 25.18% of the total regional market volume in 2014. The wind turbine segment is the third-largest consumer of epoxy resins in Poland. The Polish government’s target of installing 10.5 GW wind power by 2020 from 1.6 GW in 2011, is going to boost epoxy demand for the wind turbine segment.
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With prospects of modest recovery ahead, the demand for epoxies in the region is projected to witness a modest CAGR. Rising demand for epoxies in the region can be primarily attributed to the growth in end-application markets, such as electrical & electronics, paints & coatings, and wind turbines.
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In Western Europe the paints & coatings and electrical & electronics segments together consumed around 59.2% of the total epoxy market, while the construction application accounted for a share of 10.3% in 2013.
Germany is the biggest exporter of basic epoxy resins and also the foremost consumer in the region, accounting for 33.1% of the European market in 2013.
The paints & coatings application is the largest consumer of epoxies in the country, accounting for 35.5% of the total epoxy resins demand in 2013, and is estimated to witness a CAGR of 4.8% between 2013 and 2019. The country’s automotive sector is estimated to fuel the demand of waterborne epoxy primers.
The report analyzes the European epoxy resins market trends and forecasts till 2019. The market size estimations have been provided in terms of market value ($million). The report also identifies prominent players, and provides analysis for each player in terms of company overview, financials, products and services offered, and recent developments.
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