Market Insights:
The global epichlorohydrin market
is expected to exhibit a CAGR of 5% over the forecast period from 2016 to 2023,
according to Market Research Future (MRFR), growing to an overall volume of
more than 2,580 kilotons. The global epichlorohydrin market is examined from
all angles in the new research report, including an analysis of the major
factors propelling and restraining the market’s growth, the leading segments
dominating the market, and the leading players operating in the market. The
historical growth trajectory of the global epichlorohydrin market is assessed
in detail in the report to provide pointers as to the likely future growth
trajectory of the market over the forecast period.
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Epichlorohydrin is mainly used in
the production of epoxy resins, synthetic glycerin, and other chemicals,
including water treatment chemicals and others. The growing demand for epoxy
resins from the global manufacturing sector is likely to be a major driver for
the global epichlorohydrin market over the forecast period. Epoxy resins are
used in various manufacturing applications due to their high resistance to
moisture and chemicals as well as the structural rigidity they provide in terms
of supporting weight and balancing the whole structure without compromising on
the low weight requirements of modern design principles. The growing demand
from the construction and automotive sectors is likely to be vital for the
market’s progression over the forecast period.
On the other hand, regulatory
restrictions on the use of epichlorohydrin in proximity to human presence are
likely to be a key restraint against the global epichlorohydrin market over the
forecast period. Epichlorohydrin in moderately toxic and a slight irritant,
especially if it gets into contact with the skin. It is also carcinogenic,
which has made it a highly regulated item in terms of its safety threat. This
is likely to hamper the global epichlorohydrin market’s growth over the
forecast period.
Competitive Analysis:
·
Solvay S.A.
·
Samsung Fine Chemicals Co. Ltd.
·
Sumitomo Chemical Co.
·
Osaka Soda Co. Ltd.
·
Shandong Haili Chemical Industry Co. Ltd.
·
NAMA Chemicals
·
Formosa Plastics Corporation
·
Aditya Birla Chemicals
·
Dow Chemical Company
·
Zachem S.A.
Market Segmentation:
The global Epichlorohydrin Market is segmented on the basis
of application, end use, and region.
Based on application, the epichlorohydrin market is segmented
into epoxy resins, synthetic glycerin, water treatment chemicals, and others
including elastomers, water treatment resins, surfactants, ion exchange resins,
plasticizers, dyestuffs, oil emulsifiers, lubricants, and adhesives. Epoxy
resin production is likely to be the major application segment of the global
epichlorohydrin market over the forecast period.
Based on end use, the epichlorohydrin market is
segmented into automotive, electronics, textiles, pharmaceutical, construction,
and others.
Regional Analysis:
The global epichlorohydrin market is segmented by region into
North America, Latin America, Europe, the Middle East and Africa, and Asia
Pacific.
Asia Pacific is the leading regional segment of the global
epichlorohydrin market and is likely to retain a dominant share in the global
epichlorohydrin market over the forecast period. The growing demand for epoxy
resin in Asia Pacific is likely to be a major driver for the global
epichlorohydrin market over the forecast period. The manufacturing sector in
Asia Pacific has really taken off in the last few years, leading to a growth in
the demand for epoxy resin, especially in the automotive industry. This is likely
to be a major driver for the epichlorohydrin market over the forecast period,
as the consumer electronics industry and other manufacturing industries are
also likely to grow at a solid growth rate over the forecast period in Asia
Pacific. China, followed by Japan, are likely to be the leaders in the
epichlorohydrin market in Asia Pacific over the forecast period due to the
steady growth of the manufacturing sector in these regions and the growing
demand for epoxy resins and synthetic glycerol.
Europe follows Asia Pacific in the global epichlorohydrin
market’s charts, followed by North America.
Industry Updates:
In March 2018, TechnipFMC completed the acquisition of
epicerol technology to convert glycerol into epichlorohydrin from Solvay.
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