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There are more than one hundred epoxy resin manufacturers in China, but with the exception of a few such as Yueyang and Wuxi, most of them are very small. At present, most domestic epoxy resin factories are small in scale, with a single brand variety, backward equipment, and low resin quality.
Since 2010, the demand for major epoxy resin application markets in the world has been recovering. From 2011 to 2013, the demand for epoxy resin in the United States and Western Europe increased by 3.2% and 2.8%, respectively, and will continue in 2014-2018. Maintaining growth of 2% -3%, and benefiting from the rapid development of the Chinese market, global epoxy resin demand will grow at a rate of about 4.5%.
Although the global epoxy resin industry has entered a mature period, the compound growth rate of the global epoxy resin industry will be around 4% -5% in the next 5 years. However, from the perspective of the domestic market, the compound annual growth rate of apparent domestic epoxy resin consumption in 2002-2013 was above 10%, much higher than the average growth rate of the global epoxy resin industry. It is expected that the domestic epoxy resin industry will continue to grow steadily in the future. On the one hand, the global industrial transfer has caused downstream industries such as electronics and shipping to be produced in China, which has driven the demand for epoxy resins. On the other hand, the quality of products produced by domestic enterprises With continuous improvement, it gradually has a comparative advantage compared with foreign companies.
With China's GDP continuing to maintain a high growth rate, the compound annual growth rate of domestic epoxy resin demand will reach about 10% in the next few years, and the total consumption will reach 1.5 million tons in 2015, accounting for 60% of the global epoxy resin consumption market. %about