Market Overview
The global
epichlorohydrin market is presumed to demonstrate 5% CAGR during the forecast
period (2016-2023) owing to the growing demand for epoxy resins by several
end-use industries, asserts Market Research Future (MRFR). Also known and ECH,
2, 3-epoxypropyl chloride, chloromethyl oxirane, and oxirane, epichlorohydrin possesses features such as excellent
resistance to ozone & weathering, excellent resistance to hydrocarbon oils
& fuels, durability from low to high temperature, and low solvent & gas
permeability. The product is a colorless toxic, bitter smelling epoxide
volatile liquid mainly used in the production of synthetic glycerin, epoxy
resins, water treatment chemicals, and others.
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Drivers and Constraints Impacting the Market
With the
increasing demand for epoxy resins in several end-use industries such as
automotive, building and construction, and renewable energy equipment, the
global market for epichlorohydrin is considered to flourish. The growing demand
for synthetic glycerin owing to its rising applications is considered to drive
the market across the globe. Fluctuation in the propylene prices and rising
production of raw glycerin which is obtained
as a by-product of biodiesel manufacturing has increased the process, where
glycerol is used as a raw material.
Moreover, manufacturing of ECH in recent
days, have followed the green trend in the chemical industry by using
environmentally-friendly raw materials and sustainable engineering. With the
rising demand from the developing economies in Asia and Eastern Europe, the
global epichlorohydrin market is expected to foster. Moreover, the advent of advanced technologies applied in the
epoxy resins and polycarbonate industries are likely to drive the market in the
coming years.
On the flip
side, epichlorohydrin is moderately toxic and can cause skin inflammations.
Thus, the concern of the regulatory
bodies associated with the dangerous effects of epichlorohydrin on the
environment as well as on the health is considered to dampen the market growth
during the assessment period.
Global Epichlorohydrin Market: Segmental Analysis
The global
epichlorohydrin market has been segmented
on the basis of end-users, application,
and region.
By mode of
application, the global epichlorohydrin market has been segmented into synthetic glycerin, epoxy resins, water
treatment chemicals, and others. The others segment has been further
sub-segmented into water-treatment resins, elastomers, ion exchange resins,
surfactants, dyestuffs, plasticizers, lubricants, oil emulsifiers, and
adhesives. Among these, the epoxy resins are
used across industries including coatings, adhesives, and plastics. They are used in the production of dyes and
inks in several end-use industries. The synthetic glycerin is extensively used in the cosmetic industry,
and solvents, commercial insecticides surfactants, textiles, pharmaceuticals,
and paper sectors.
By mode of
end-users, the global epichlorohydrin market has been segmented into electronics, automotive, pharmaceutical,
textiles, construction industry, and others.
Regional Insights:
Geographically,
the epichlorohydrin market span across regions namely, North America, Europe,
Asia Pacific, and Rest-of-the-World (RoW).
Among all the
regions, Asia Pacific is considered to hold the largest market share owing to the demand in several
applications such as synthetic glycerin and epoxy resins in China followed by
Japan. Also, with the increasing demand for synthetic glycerin and epoxy resins
in Taiwan, India, and South Korea, the Asia Pacific region is expected to
experience a robust boost during the assessment period. Moreover, the increasing activities in petroleum refining are
likely to propel the market growth in this region followed by Europe.
The North American region is the
third-largest regional market owing to the rising optimism in industries with
high demand for chemical products. The U.S. is considered to be the major
consumer of epichlorohydrin in this region and has adopted a cautious approach
for economic growth. With the introduction
of strict laws against epichlorohydrin in Canada, the demand for
epichlorohydrin will lower gradually.
Industry
Updates;
December 18,
2018: A team of researchers has recently
found contradictory effects of filler concentration in curing epoxy resin with anhydride in the presence of halloysite
nanotubes. Epoxy resins can be cured with
a number of curing agents like anhydrides
and amines, but anhydride curing will be more favorable for research purpose as
epoxy-anhydride curing takes place slowly at room temperature.
Competitive
Dashboard
The prominent
players operating the global epichlorohydrin market are Samsung Fine Chemicals
Co. Ltd. (Korea), Formosa Plastics Corporation (US), Aditya Birla Chemicals
(India), Zachem SA (Europe), Shandong Haili Chemical Industry Co. Ltd (China),
NAMA Chemicals (Saudi Arabia), Osaka Soda Co. Ltd. (Japan), Sumitomo Chemical
Co. (Japan), Dow Chemical Company (US), and others.
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