Phenoxy Resins Market Growth Anticipated, Demand and Outlook 2018-2026

Market Outlook

According to the Coherent Market Insights’ analysis, Asia Pacific held dominant position in the market in 2017 and is projected to maintain its dominance throughout the forecast period. This is owing to increasing demand for adhesives and coatings in automotive and electronics industry. Moreover, phenoxy resin products are widely used as modifiers to other chemistries and utility as the sole resinous vehicles in coatings, adhesives, and others. According to American Coatings Association, automotive refinish coatings is the largest sub-segment of special purpose coatings, with a value of $2 billion in 2014.

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Among applications, the coatings segment is projected to gain major traction over the forecast period, owing to increasing application of coating in marine, metal, and automotive industry. According to American Coatings Association, marine paints, including both original equipment manufacturer (OEM) and refinish applications, had a value of $400 million in 2014.
Key players in Global Phenoxy Resins Market

Key players operating in the global phenoxy resins market include, Mitsubishi Chemical, Gabriel Performance Products, LLC, DIC Corporation, Kukdo Chemical, Georgia-Pacific (GP) Chemicals, SHIN-A T&C Co., Ltd., and Nan Ya Epoxy.
Manufacturers are focused on expanding the production capacities and acquiring new compnanies as a part of strategic planning to extend their markrt share. For instance, on January 2014, Gabriel Performance Products, LLC, a U.S.-based specialty chemicals company, announced the acquisition of InChem Corporation’s proprietary Phenoxy Resin business.

Market Taxonomy

On the basis of product type, global phenoxy resins market is segmented into:

Solid
Solution
On the basis of application, global phenoxy resins market is segmented into:

Adhesives
Coating
Ink
Composite
Plastic

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Market Dynamics

Increasing demand for phenoxy resin from end-use industries is major factor driving growth of the global phenoxy resins market, owing to compatibility of phenoxy resin with several polymers. Moreover, these resins are efficient flexibilizers for cross-linked phenolic and epoxy formulations used in adhesives, coatings, and composites. Composite industry is rising due to end use applications and is used in automotive and electronics sector. According to Federation of Reinforced Plastics, compared to 2015, a growth of 8.76% was observed in 2016 in global demand for carbon fiber composites.
However, the volatility in raw material prices is a major factor restraining growth of the global phenoxy resins market. Prices of raw materials of phenoxy resins i.e. Bisphenol A and epichlorohydrin fluctuate due to supply and demand imbalance.

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This release was published on openPR.