Epichlorohydrin Market Research with Current and Future Trends 2023 - 2032

As per the report published by The Brainy Insights, the global epichlorohydrin market is expected to grow from USD 2.51 billion in 2021 to USD 4.06 billion by 2030, at a CAGR of 5.5% during the forecast period 2022-2030. Asia Pacific region emerged as the largest market for the global epichlorohydrin market, with a 34.5% market revenue share in 2021. The Asia Pacific currently dominates the epichlorohydrin market due to the vast need for synthetic glycerine and epoxy resins from nations such as India, South Korea, Taiwan, and China. Further, the development of the construction industry and the automotive sector is overstating the use of epichlorohydrin in their manufacturing procedures, additionally supporting the growth of the epichlorohydrin market in this region at a substantial rate. However, the epichlorohydrin market in North America was the second-largest revenue contributor due to the imposition of strict guidelines about using epichlorohydrin. The growing need for epichlorohydrin from industries such as industrial, pharmaceutical, textile, electronics, and automotive in the region is also expected to push the growth of the epichlorohydrin market.

Leading companies in the industry include Technipfmc Plc, Spolchemie As, Shandong Haili Chemical Industry Co. Ltd., Olin Corporation, Nama Chemicals, Lotte Fine Chemical Co. Ltd., Kashima Chemical Co. Ltd., Hanwha Chemical Corporation, Formosa Plastic Corporation, Aditya Birla Chemicals, among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

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The epichlorohydrin market refers to the global trade of epichlorohydrin (ECH), which is a highly reactive and toxic organic compound used primarily in the production of epoxy resins and other chemicals. ECH is typically produced by the reaction of propylene with chlorine gas in the presence of a catalyst. The market for ECH is driven by the demand for epoxy resins, which are used in a wide range of applications, including coatings, adhesives, electrical laminates, and composites. The market is highly competitive, with several large companies, including Dow Chemical, Momentive Specialty Chemicals, and Aditya Birla Chemicals, dominating the industry. The market is also subject to regulatory scrutiny due to the toxic nature of ECH and its potential impact on human health and the environment. As a result, there is a growing interest in developing more environmentally friendly alternatives to ECH-based products.

The application segment is divided into epichlorohydrin elastomers, synthetic glycerin, water treatment chemicals, specialty epoxy resin, and others. The epoxy resin segment dominated the market, with a market share of around 18% in 2021. The type segment is divided into bio-based & petro-based. The petro-based segment dominated the market, with a market share of about 55% in 2021. The end-user segment is divided into paints & coatings, wind turbines, electrical & electronics, composites, construction, textile, and others. The construction segment dominated the market, with a market share of around 16% in 2021.

The covid-19 outbreak has positively impacted the global economy, and small to large-scale businesses are mostly affected due to Covid. The government has set a lockdown in multiple countries to fight against the virus, and the country has also arranged social distancing to control the fast spreading of the virus. Numerous countries are shutting down, and the production of products is at a standstill. The need for epichlorohydrin has declined due to lower production in many industries. The essential players are trying their best to increase the market need, but the market is predicted to grow after the post-covid-19 situation.

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This study forecasts global, regional, and country revenue from 2019 to 2030. Brainy Insights has segmented the global epichlorohydrin market based on the below-mentioned segments:

Global Epichlorohydrin Market by Application:

Epichlorohydrin Elastomers
Synthetic Glycerin
Water Treatment Chemicals
Specialty
Epoxy Resins
Others
Global Epichlorohydrin Market by Type:

Bio-based
Petro-based
Global Epichlorohydrin Market by End User:

Paints & Coatings
Wind Turbine
Electrical & Electronics
Composites
Construction
Textile
Others

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This release was published on openPR.