Asia Pacific HBPA Epoxy Resin Market: By Physical Form (Solid, Liquid), By Application (E&E Coating, Industrial Coating), and Country

Asia Pacific HBPA Epoxy Resin Market size was valued at USD x million in 2023 and is poised to grow at a CAGR of x% from 2024-2030. The HBPA epoxy resin market is driven by the increase in the need to protect concrete floors in industrial and commercial facilities. Another factor driving the HBPA epoxy resin market is the growth of the power generation industry in developing countries. However, the high cost of raw materials is a major restraint for market growth. Most of the raw materials used in the production of HBPA epoxy resin are petroleum-based derivatives, which are vulnerable to fluctuations in commodity prices. The prices of these raw materials have been highly volatile in recent times, which has affected the growth of the market. Key players have adopted various organic as well as inorganic growth strategies to strengthen their positions in the market. Investment & expansion were among the key growth strategies adopted by these leading players to enhance their regional presence and meet the growing demand for HBPA epoxy resin from emerging economies. For instance, in June 2016, Hexion Inc. expanded its R&D facility. A new analytical laboratory was added to its technology & business center in Stafford, Texas. The expansion caters to the increasing demand for chromatography, spectroscopy, rheology, microscopy, and materials in Hexion's epoxy, phenolic, and coating resins and forest products divisions.