Epoxy Market Overview June 2020

US

The COVID-19 outbreak had an impact on the epoxy resin market due to the shortage of raw materials and lack of manpower owing to shutdowns. Demand went down significantly during April and May due to shut down of automotive production and construction activities. In June 2020, the epoxy market improved as economic activities resumed. Meanwhile, production of epoxy has increased with the increase in demand in the automotive and construction sectors. Epoxy resins are used in adhesives, composites, as well as in coatings for various end use industries.

Asia

Demand for epoxy in the Asian market increased in June, as plants that were closed during lockdown are now mostly back in operation. The epoxy market recovered due to increased demand from end use markets, like wind energy and construction sector. Wind turbine makers were operating at full tilt to meet targets for wind energy installation. China dominates the Asian epoxy market, followed by India and Japan. The epoxy market in Asia is also impacted due to the US-China trade conflict.

Europe

The epoxy market in Europe started to stabilize and recover in the second half of June, as lockdown restrictions were relaxed and activity resumed. In June, the European epoxy market was down on year-over-year basis because of the coronavirus related impact. Demand for epoxy is expected to continue improving, driven by the effects of easing lockdowns and growth in the European paint and coating industry. Germany dominates the European epoxy resin market with most of the demand generating from the paint and coating segment.