Epichlorohydrin Market Forecast to 2023 | Aditya Birla Chemicals, Dow Chemical Company, Solvay S.A. Chemicals company, Zachem SA, Samsung Fine Chemicals Co., Ltd., Sumitomo Chemical Co., Osaka Soda Co., Ltd., Formosa Plastics Corporation, Shandong Haili C

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.

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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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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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This release was published on openPR.