Epichlorohydrin Market Driven by Growing Demand for Epoxy Resin in Automotive, Construction Industries

Pune, India, September 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Epichlorohydrin Market.

The Global Epichlorohydrin Market is expected to exhibit a strong 6% CAGR over the forecast period between 2022-2030, according to the latest research report from Market Research Future (MRFR). The global epichlorohydrin market is assessed in full detail in the report, which contains detailed profiles of the major factors affecting the epichlorohydrin market, major players operating in the market, as well as detailed analysis of the market’s historical growth trajectory. The growing epichlorohydrin market’s growth over the historical review period is tracked with the help of reliable historical databases. This information is used as a platform to provide studied forecasts regarding the market’s likely growth trajectory in the coming years.

The epichlorohydrin market is mainly driven by the growing demand for epoxy resin in construction, automotive, and other applications. Epoxy resins have emerged as a material of choice in several industries in which water resistance, chemical resistance, and heat resistance are important characteristics. Epoxy resins provide stable construction and a high degree of moldability, which has resulted in a growing demand for epoxy resin from various end-use industries. The construction industry is likely to be a major driver for the epichlorohydrin market over the forecast period, as the construction industry has embraced the use of epoxy resins in applications ranging from flooring to paints and coatings. The growing demand for paints and coating materials that actively repel corrosive substances such as moisture and other chemicals is likely to be a major driver for the epichlorohydrin market over the forecast period.

The growing automotive industry is also likely to make use of epoxy resins in paints and coatings as well as structural components in the coming years. This is likely to be a major driver for the epichlorohydrin market over the forecast period. The growing demand for stronger, longer lasting paintjobs in the automotive industry is likely to be a major driver for the epichlorohydrin market over the forecast period.

Competitive Analysis:

Leading players in the global epichlorohydrin market include NAMA Chemicals, Shandong Haili Chemical Industry Co. Ltd., Formosa Plastics Corporation, Osaka Soda Co. Ltd., Aditya Birla Chemicals, Sumitomo Chemical Co., Dow Chemical Company, Samsung Fine Chemicals Co. Ltd., Zachem SA, and Solvay S.A. In addition to these established giants, several smaller players are setting up operations in the epichlorohydrin market in developing regions, hoping to capitalize on the steady economic growth in regions such as Asia Pacific, the Middle East, and Eastern Europe. Asia Pacific is likely to be a major center for the epichlorohydrin market over the forecast period due to the steady growth of the automotive and construction industries in this region.

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  In September 2019, Indian company Meghmani Finechem announced its intentions to build a new site for epichlorohydrin production. The new project is expected to operate at a capacity of 50,000 tonnes per annum.

Segmentation:

The global epichlorohydrin market is segmented on the basis of application, end use, and region.

By application, the global epichlorohydrin market is segmented into epoxy resins, synthetic glycerin, water treatment chemicals, and others, including elastomers, water treatment resins, surfactants, ion exchange resins, plasticizers, dyestuff, oil emulsifiers, lubricants, and adhesives. The epoxy resin segment is likely to dominate the global epichlorohydrin market in the coming years due to the growing demand for epoxy resin from the construction and automotive industries.

By end use, the global epichlorohydrin market is segmented into automotive, electronics, textiles, pharmaceuticals, construction, and others.

Regional Analysis

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Asia Pacific is likely to hold the largest share in the global epichlorohydrin market over the forecast period, followed by Europe. The growing automotive industry in Asia Pacific is likely to be a major driver for the epichlorohydrin market in the region. The demand for automotive paints and coatings in Asia Pacific is likely to grow over the coming years due to the growing awareness about improved, enhanced paints and coatings that last longer and also exhibit higher environmental viability.

North America is the third largest regional market in the global epichlorohydrin market, followed by Latin America and the Middle East and Africa.

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