The Europe epoxy resins market growth is anticipated to progress at a CAGR of 6.16% during the forecast period, 2022-2030. The market’s growth is propelled by the rising demands of epoxy resins, majorly within the wind energy industry, followed by the automobile and electronics sectors.
The Europe epoxy resins market growth is evaluated by the analysis of Germany, Russia, Poland, France, the United Kingdom, Belgium, Italy, and Rest of Europe. Epoxy resins can cover concrete and steel towers for windmills to increase their lifetime. Most European wind blade manufacturers use epoxy resins, owing to their lightweight, resistance fatigue, good adhesion, and lack of shrinkage after cooling.
Moreover, epoxy resins are widely used throughout Europe for construction purposes. An Italian construction association reported an increase in construction investment by 2.4% in 2019. The residential building segment is expected to grow steadily. However, non-residential buildings and civil engineering activities are likely to be the primary growth enablers during the forecast period.
Additionally, low interest rates and higher incomes support residential construction and real estate development in Belgium. On the other hand, the market growth is affected by complicated and slower approval of building permits.
Some of the key market players include Momentive Performance Materials Holdings LLC, Chang Chun Plastics Co Ltd, etc.
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