Global Modified Epoxy Resin Market Size Study, by Product Type (Solvent-Based, Water-Based), by Application (Building & Construction, Automotive, Aerospace, Marine), and Regional Forecasts 2022-2032

The global modified epoxy resin market was valued at USD 21.46 billion in 2023 and is anticipated to grow at a CAGR of 6.2% over the forecast period from 2024 to 2032. The market's expansion is largely fueled by the rising demand for high-performance coatings in construction, automotive, aerospace, and marine industries. Modified epoxy resins are widely known for their superior durability, corrosion resistance, thermal stability, and adhesion properties, making them indispensable across multiple industrial applications.

Additionally, technological advancements in formulation techniques have led to the development of eco-friendly and bio-based modified epoxy resins that align with stringent environmental regulations. This shift is prompting manufacturers to focus on producing low-VOC (volatile organic compounds) resins while ensuring optimal performance in diverse applications. Increasing infrastructure projects in emerging economies, rapid urbanization, and investments in electric vehicles (EVs) and renewable energy projects are also contributing to the growing demand for modified epoxy resins.

The automotive and aerospace sectors are witnessing a surge in demand for lightweight materials to enhance fuel efficiency and reduce carbon emissions. Modified epoxy resins are extensively used in structural applications, such as composite materials, adhesives, coatings, and encapsulants, further driving market expansion. Moreover, advancements in nanotechnology have enabled the enhancement of mechanical and thermal properties of epoxy-based materials, which are becoming increasingly significant in next-generation electronic components and circuit boards.

Regionally, Asia-Pacific dominated the modified epoxy resin market in 2024, holding the largest revenue share of 42.50%. The region's market growth is driven by expanding industrial activities, increasing investments in smart infrastructure, and a strong consumer electronics manufacturing base. Additionally, North America is projected to exhibit the fastest CAGR, supported by growing investments in electric vehicle (EV) infrastructure, wind energy projects, and semiconductor manufacturing.

The competitive landscape of the modified epoxy resin market is marked by the presence of major players focusing on product innovation, strategic partnerships, and capacity expansions to cater to the growing demand across industries. Notable companies in the market include Olin Corporation, Hexion Inc., Aditya Birla Chemicals, Kukdo Chemical Co., Ltd, Westlake Epoxy, Huntsman Corporation, and others. The increasing adoption of bio-based and high-performance epoxy resins to meet stringent sustainability standards is expected to reshape the industry in the coming years.

Major market players included in this report are:

• Olin Corporation
• Hexion Inc.
• Aditya Birla Chemicals
• Kukdo Chemical Co., Ltd
• Westlake Epoxy
• Hindusthan Speciality Chemicals
• Adeka Corporation
• Chemex Chemicals
• Nan Ya Plastics Corporation
• Huntsman Corporation
• Evonik Industries
• BASF SE
• Dow Inc.
• Mitsubishi Chemical Corporation
• Ashland Global

The detailed segments and sub-segments of the market are explained below:

By Product Type:

• Solvent-Based
• Water-Based

By Application:

• Building & Construction
• Automotive
• Aerospace
• Marine
• Others

By Region:

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia-Pacific
• Latin America
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:

• Historical year - 2022
• Base year - 2023
• Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032
• Annualized revenues and regional-level analysis for each market segment
• In-depth geographical analysis with country-level breakdowns
• Competitive landscape assessment with company profiling
• Insights into key business strategies and future market approach recommendations
• Analysis of industry structure, demand, and supply chain dynamics