Key Takeaways
- The global synthetic resins market size was valued at USD 55.2 billion in 2023 and is projected to reach USD 75.8 billion by 2030, growing at a CAGR of 4.6% from 2024 to 2030, driven by demand in packaging and construction sectors.
- Epoxy resins market revenue stood at USD 9.21 billion in 2022, expected to grow to USD 13.46 billion by 2030 at a CAGR of 4.9%, fueled by electronics and wind energy applications.
- Polyester resins market was valued at USD 12.3 billion in 2023, anticipated to expand to USD 18.7 billion by 2032 with a CAGR of 4.7%, due to composites in automotive.
- In 2023, Asia Pacific dominated the global resins market with 52% share, valued at approximately USD 28.7 billion.
- North America resins market size was USD 12.4 billion in 2023, growing at 4.2% CAGR to 2030, led by US construction.
- Europe synthetic resins market reached USD 15.1 billion in 2022, projected to USD 20.3 billion by 2030 at 3.8% CAGR.
- Global epoxy resins production reached 3.2 million metric tons in 2023, with China producing 1.8 million tons.
- Polyester resins global production capacity was 12.5 million tons in 2022, utilization rate 82%.
- Phenolic resins consumption worldwide hit 14.8 million tons in 2023, Asia 65% share.
- Epoxy resins are thermosetting polymers with tensile strength averaging 70-90 MPa and glass transition temperature up to 200°C.
- Unsaturated polyester resins (UPR) have density 1.1-1.5 g/cm³, curing time 15-30 minutes at room temperature.
- Phenolic resins exhibit heat resistance above 150°C, char yield 50-60% at 800°C pyrolysis.
- Paints and coatings segment consumed 35% of global resins in 2023, totaling 28 million tons.
- Construction adhesives used 12 million tons of resins in 2022, urea-formaldehyde 45%.
- Automotive composites incorporated 2.5 million tons of resins in 2023, epoxy 30%.
The global resins industry is growing steadily, driven by construction and packaging demand.
Applications and Demand
- Paints and coatings segment consumed 35% of global resins in 2023, totaling 28 million tons.
- Construction adhesives used 12 million tons of resins in 2022, urea-formaldehyde 45%.
- Automotive composites incorporated 2.5 million tons of resins in 2023, epoxy 30%.
- Packaging inks demand for hydrocarbon resins was 1.2 million tons in 2022.
- Electronics encapsulation resins consumption 0.8 million tons in 2023, silicone 25%.
- Wind turbine blades used 450,000 tons of epoxy resins in 2022.
- Furniture laminates required 6.5 million tons of melamine resins in 2023.
- Marine coatings applied 1.1 million tons of alkyd and epoxy in 2022.
- Aerospace prepregs consumed 180,000 tons of thermoset resins in 2023.
- Water treatment ion exchange resins installed capacity 1.5 million m³ in 2022.
- Tire cords used 3.2 million tons of polyester resins in 2023.
- 3D printing sector demanded 150,000 tons of photopolymer resins in 2022.
- Footwear adhesives incorporated 1.8 million tons of polyurethane resins in 2023.
- Foundry cores utilized 500,000 tons of furan resins in 2022.
- Printing inks global resin use 2.4 million tons in 2023, rosin-modified 20%.
- Electrical insulation varnishes consumed 0.9 million tons of phenolic resins in 2022.
- Food packaging hot-melt adhesives used 800,000 tons of hydrocarbon resins in 2023.
- Pipe linings applied 350,000 tons of epoxy resins in 2022.
- Sports equipment composites required 250,000 tons of vinyl ester resins in 2023.
- Wood panels absorbed 18 million tons of UF and PF resins in 2022.
- Leather finishing used 0.6 million tons of acrylic resins in 2023.
- Corrosion protection coatings demanded 4.5 million tons of resins in 2022.
- Dental restoratives incorporated 50,000 tons of bis-GMA resins in 2023.
- Paper sizing agents used 1.5 million tons of alkyl ketene dimer resins in 2022.
- Rubber compounding added 2.1 million tons of phenolic resins in 2023.
Applications and Demand Interpretation
Market Size and Growth
- The global synthetic resins market size was valued at USD 55.2 billion in 2023 and is projected to reach USD 75.8 billion by 2030, growing at a CAGR of 4.6% from 2024 to 2030, driven by demand in packaging and construction sectors.
- Epoxy resins market revenue stood at USD 9.21 billion in 2022, expected to grow to USD 13.46 billion by 2030 at a CAGR of 4.9%, fueled by electronics and wind energy applications.
- Polyester resins market was valued at USD 12.3 billion in 2023, anticipated to expand to USD 18.7 billion by 2032 with a CAGR of 4.7%, due to composites in automotive.
- Phenolic resins global market size reached USD 14.2 billion in 2022, projected to hit USD 20.1 billion by 2030 at 4.4% CAGR, boosted by wood adhesives demand.
- Urea-formaldehyde resins market valued at USD 11.5 billion in 2023, expected to grow to USD 15.9 billion by 2029 at CAGR 5.4%, driven by furniture manufacturing.
- Global alkyd resins market size was USD 6.8 billion in 2022, forecasted to reach USD 8.9 billion by 2030 with 3.4% CAGR, supported by paints and coatings.
- Acrylic resins market stood at USD 18.4 billion in 2023, projected to USD 25.6 billion by 2031 at 4.2% CAGR, due to adhesives and sealants growth.
- Vinyl ester resins market size was USD 1.12 billion in 2022, expected to grow to USD 1.68 billion by 2030 at 5.2% CAGR, driven by corrosion-resistant applications.
- Amino resins market valued at USD 7.9 billion in 2023, anticipated to reach USD 10.8 billion by 2030 with 4.6% CAGR, from laminates demand.
- Global ion exchange resins market size reached USD 1.65 billion in 2022, projected to USD 2.45 billion by 2030 at 5.1% CAGR, due to water treatment.
- Thermoset resins market was USD 45.2 billion in 2023, expected to hit USD 65.4 billion by 2032 at 4.1% CAGR, propelled by aerospace composites.
- Thermoplastic resins market size stood at USD 450 billion in 2022, forecasted to USD 620 billion by 2030 at 4.0% CAGR, from packaging surge.
- Bio-based resins market valued at USD 1.2 billion in 2023, projected to USD 3.8 billion by 2030 at 18.2% CAGR, driven by sustainability trends.
- Global resins market for 3D printing was USD 0.8 billion in 2022, expected to reach USD 2.1 billion by 2028 at 17.5% CAGR.
- Polyurethane resins market size was USD 55.6 billion in 2023, anticipated to USD 78.9 billion by 2030 with 5.1% CAGR.
- Silicone resins market reached USD 1.9 billion in 2022, projected to USD 2.8 billion by 2030 at 5.0% CAGR, from electronics coatings.
- Global furan resins market size was USD 0.45 billion in 2023, expected to grow to USD 0.72 billion by 2031 at 6.1% CAGR.
- Melamine formaldehyde resins market valued at USD 2.3 billion in 2022, forecasted to USD 3.1 billion by 2030 at 3.8% CAGR.
- Casein resins market size stood at USD 0.15 billion in 2023, projected to USD 0.22 billion by 2030 at 5.5% CAGR.
- Global dammar resins market was USD 0.12 billion in 2022, expected to reach USD 0.18 billion by 2030 at 5.2% CAGR.
- Shellac resins market size reached USD 0.9 billion in 2023, anticipated to USD 1.3 billion by 2032 at 4.3% CAGR.
- Rosin resins global market valued at USD 1.1 billion in 2022, projected to USD 1.6 billion by 2030 at 4.7% CAGR.
- Ester gums market size was USD 0.3 billion in 2023, expected to USD 0.45 billion by 2030 at 5.8% CAGR.
- Hydrocarbon resins market stood at USD 3.2 billion in 2022, forecasted to USD 4.8 billion by 2030 at 5.3% CAGR.
- C5 resins market valued at USD 0.8 billion in 2023, projected to USD 1.2 billion by 2031 at 5.5% CAGR.
- C9 resins market size was USD 1.1 billion in 2022, expected to reach USD 1.7 billion by 2030 at 5.6% CAGR.
- Terpene resins market reached USD 0.4 billion in 2023, anticipated to USD 0.6 billion by 2030 at 6.0% CAGR.
- Global petroleum resins market size stood at USD 2.5 billion in 2022, projected to USD 3.9 billion by 2030 at 5.8% CAGR.
- DCPD resins market valued at USD 0.6 billion in 2023, expected to USD 0.95 billion by 2032 at 5.2% CAGR.
- Global coumarone indene resins market was USD 0.25 billion in 2022, forecasted to USD 0.38 billion by 2030 at 5.4% CAGR.
Market Size and Growth Interpretation
Production and Consumption
- Global epoxy resins production reached 3.2 million metric tons in 2023, with China producing 1.8 million tons.
- Polyester resins global production capacity was 12.5 million tons in 2022, utilization rate 82%.
- Phenolic resins consumption worldwide hit 14.8 million tons in 2023, Asia 65% share.
- Urea-formaldehyde resins production in Europe was 5.1 million tons in 2022, down 2% YoY due to regulations.
- Alkyd resins global output stood at 1.8 million tons in 2023, short-oil types 55%.
- Acrylic resins consumption in paints reached 4.2 million tons in 2022, water-based 60%.
- Vinyl ester resins production capacity globally 850,000 tons in 2023, US 25%.
- Amino resins global production was 9.2 million tons in 2022, melamine types 40%.
- Ion exchange resins consumption for water treatment 1.1 million cubic meters in 2023.
- Thermoset resins production worldwide 42 million tons in 2023, unsaturated polyesters leading.
- Thermoplastic resins global output exceeded 400 million tons in 2022, PE and PP dominant.
- Bio-based resins production reached 950,000 tons in 2023, soy-based 35%.
- 3D printing resins consumption was 120,000 tons in 2022, UV-curable 70%.
- Polyurethane resins production capacity 52 million tons in 2023, flexible foam 60%.
- Silicone resins global output 1.4 million tons in 2022, RTV types growing fastest.
- Furan resins production was 420,000 tons in 2023, foundry sands 75%.
- Melamine formaldehyde consumption 2.1 million tons in 2022, laminates 50%.
- Casein resins production limited to 120,000 tons globally in 2023, dairy byproduct based.
- Dammar resins output 100,000 tons in 2022, Indonesia 90% supply.
- Shellac production reached 20,000 tons in 2023, India 85% of global.
- Rosin global production 1.05 million tons in 2022, gum rosin 70%.
- Ester gums output 280,000 tons in 2023, food grade 60%.
- Hydrocarbon resins production capacity 3.0 million tons in 2022, C5/C9 80%.
- C5 resins global output 780,000 tons in 2023, adhesives 65% use.
- C9 resins production 1.05 million tons in 2022, aromatic types dominant.
- Terpene resins consumption 380,000 tons in 2023, hot-melt adhesives key.
- Petroleum resins global production 2.3 million tons in 2022, pipeline modified 40%.
- DCPD resins output 550,000 tons in 2023, hydrogenation process 55%.
- Coumarone indene resins production 240,000 tons in 2022, coal tar based.
Production and Consumption Interpretation
Regional Analysis
- In 2023, Asia Pacific dominated the global resins market with 52% share, valued at approximately USD 28.7 billion.
- North America resins market size was USD 12.4 billion in 2023, growing at 4.2% CAGR to 2030, led by US construction.
- Europe synthetic resins market reached USD 15.1 billion in 2022, projected to USD 20.3 billion by 2030 at 3.8% CAGR.
- China resins production capacity exceeded 25 million tons in 2023, accounting for 40% of global output.
- India polyester resins market was USD 1.8 billion in 2023, expected to grow at 6.5% CAGR to 2030.
- Middle East & Africa resins market size stood at USD 3.2 billion in 2022, forecasted to USD 4.7 billion by 2030.
- Latin America epoxy resins market valued at USD 0.9 billion in 2023, with Brazil holding 45% share.
- Japan phenolic resins consumption was 1.2 million tons in 2022, driven by automotive laminates.
- South Korea polyurethane resins market reached USD 2.1 billion in 2023, growing at 5.3% CAGR.
- Germany alkyd resins production was 450,000 tons in 2023, 28% for paints export.
- US hydrocarbon resins market size was USD 0.95 billion in 2022, projected to USD 1.4 billion by 2030.
- Brazil urea-formaldehyde resins capacity hit 800,000 tons in 2023, supplying 60% domestic particleboard.
- ASEAN region resins market grew 5.8% YoY in 2023 to USD 8.4 billion, led by Indonesia and Vietnam.
- Russia phenolic resins output was 350,000 tons in 2022, with 70% for wood products.
- Australia bio-resins market valued at USD 0.12 billion in 2023, targeting 15% growth by 2030.
- Saudi Arabia petroleum resins production reached 250,000 tons in 2023, export-oriented.
- Mexico acrylic resins consumption was 180,000 tons in 2022, automotive driven.
- Turkey polyester resins market size USD 0.65 billion in 2023, CAGR 7.2% forecast.
- UK epoxy resins imports totaled 120,000 tons in 2023, 55% from Asia.
- Canada vinyl ester resins market was USD 0.15 billion in 2022, marine applications key.
- South Africa amino resins production 90,000 tons in 2023, furniture sector 65%.
- Iran ion exchange resins market USD 0.08 billion in 2023, water purification growth.
- Thailand silicone resins consumption 45,000 tons in 2022, electronics boom.
- Argentina furan resins output 15,000 tons in 2023, foundry use dominant.
- Poland melamine resins market USD 0.22 billion in 2023, laminates 50% share.
- Egypt rosin resins imports 12,000 tons in 2022, printing inks primary.
- Vietnam C5 resins capacity expanded to 100,000 tons in 2023.
Regional Analysis Interpretation
Trends and Forecasts
- Global resins market expected to grow at 4.8% CAGR from 2024-2030, reaching USD 85 billion by 2030.
- Epoxy resins forecast to see 5.2% CAGR to 2032, driven by EV battery adhesives.
- Bio-resins market projected 20% CAGR to USD 5.2 billion by 2030, sustainability push.
- Recyclable thermoplastic resins demand to rise 6.1% annually to 2035.
- Asia Pacific resins growth forecast at 5.5% CAGR, China capacity +10M tons by 2030.
- Paints sector resins to grow 4.3% to 35 million tons by 2030, low-VOC trend.
- 3D printing resins market forecast USD 3.5 billion by 2028, 16% CAGR.
- EV composites resins demand +12% YoY to 2030, carbon fiber epoxy.
- Water purification ion resins capacity to double to 3M m³ by 2030.
- Construction sealants polyurethane resins 6.8% CAGR to USD 15B by 2032.
Trends and Forecasts Interpretation
Types of Resins
- Epoxy resins are thermosetting polymers with tensile strength averaging 70-90 MPa and glass transition temperature up to 200°C.
- Unsaturated polyester resins (UPR) have density 1.1-1.5 g/cm³, curing time 15-30 minutes at room temperature.
- Phenolic resins exhibit heat resistance above 150°C, char yield 50-60% at 800°C pyrolysis.
- Urea-formaldehyde resins have formaldehyde emission rates below 0.1 ppm in E1 grade, bond strength 2.5 MPa.
- Alkyd resins long-oil types have acid value <10 mg KOH/g, viscosity 70-90 KU.
- Acrylic resins emulsion types have Tg 20-50°C, minimum film-forming temp 15-25°C.
- Vinyl ester resins offer elongation at break 4-6%, hydrolysis resistance superior to polyesters.
- Amino resins cure via acid catalysis, pot life 4-8 hours, hardness >100 pencil.
- Ion exchange resins cation types have capacity 1.8-2.2 eq/L, bead size 0.3-1.2 mm.
- Thermoset resins compressive strength 200-300 MPa, electrical resistivity >10^14 ohm-cm.
- Thermoplastic resins like PVC have Vicat softening 80°C, Izod impact 20-50 J/m.
- Bio-based epoxy resins derived from plant oils have bio-content 30-70%, viscosity 500-2000 cps.
- UV-curable resins for 3D printing have cure depth 50-200 microns, resolution <50 microns.
- Polyurethane resins flexible types have Shore A 60-90, tear strength 50-100 kN/m.
- Silicone resins heat stability to 300°C continuous, dielectric strength 20-25 kV/mm.
- Furan resins sand strength 3.5 MPa after 24h, gas evolution <20 ml/g.
- Melamine resins have refractive index 1.54-1.57, abrasion resistance Taber 1000 cycles.
- Casein resins water absorption <20% in 24h, pH stability 4-9.
- Dammar resins acid value 10-25 mg KOH/g, softening point 75-85°C.
- Shellac has iodine value 15-25, solubility in ethanol 99.5%, melting range 75-85°C.
- Rosin tall oil types have unsaponifiables <10%, color Gardner <6.
- Ester gums drop point 90-110°C, acid value <8 mg KOH/g.
- Hydrocarbon C5 resins softening point 95-105°C, color <5 Gardner.
- C9 resins molecular weight 400-1200, brominated versions Tg 50-80°C.
- Terpene phenolic resins hydroxyl value 20-50 mg KOH/g, compatible with NR/SBR.
- Petroleum resins hydrogenated types have Saybolt color +25, aniline point 70-90°C.
- DCPD resins Tg 140-160°C, odor low <1.0.
- Coumarone indene resins melt viscosity 100-500 cps at 150°C, insoluble in water.
Types of Resins Interpretation
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