Market Development and Future Forecast of China's Epoxy Resin Industry in 2023

According to molecular structure, epoxy resins can be roughly divided into five categories: glycidyl ether, glycidyl ester, glycidyl amine, linear aliphatic and alicyclic epoxy resins. At present, the most widely used epoxy resin variety is glycidyl ether, with bisphenol A type epoxy resin as the main type, accounting for approximately 83% of the total production.

As of 2021, the global epoxy resin production capacity is 5.371 million tons per year, with a production capacity of 3.73 million tons. The production enterprises are mainly concentrated in countries and regions such as China, South Korea, Western Europe, and the United States. China is the country with the largest global production capacity, with a total production capacity of 2.894 million tons per year, accounting for approximately 53.8% of the global total, followed by South Korea, which accounts for approximately 13.1% of the global total. The main global epoxy resin production enterprises include Guodu Chemical, Olin, South Asia Plastics, Jiangsu Sanmu, Changchun Chemical, Hexion (acquired by West Lake Chemical), Jinhu Chemical, etc.

In 2022, the total consumption of epoxy resin in China was approximately 2.273 million tons, a year-on-year increase of 2.4%. The coating industry accounted for 43.6% of the total consumption, the electronic and electrical industry accounted for 33.7% of the total consumption, composite materials accounted for 13.8% of the total consumption, and adhesives accounted for 9.0% of the total consumption.