Press release
Epoxide Market Growth Drivers, Key Trends, Size, Share Analysis And Forecast To 2033
Epoxide Market
The Business Research Company offers in-depth market insights through Epoxide Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The epoxide market size has grown strongly in recent years. It will grow from $70.08 billion in 2023 to $74.3 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to industrial applications, material science advancements, construction and infrastructure growth, automotive sector expansion, consumer electronics boom.
The epoxide market size is expected to see strong growth in the next few years. It will grow to $95.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to electric vehicles (EVs) surge, biocompatible materials, infrastructure resilience, advanced electronics manufacturing, circular economy initiatives. Major trends in the forecast period include renewable energy technologies, biobased epoxides, high-performance applications, technological advancements, collaborations and partnerships.
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Market Segmentation:
The epoxide market covered in this report is segmented -
1) By Type: Ethylene Oxide, Propylene Oxide
2) By Component: Epoxies, Hardeners
3) By Application: Coated Fabric, Wire and Cable, Flooring and Wall Coverings, Film and Sheet, Medical Devices, Consumer Goods, Other Applications
Major Driver - Epoxide Market Growth Fuelled By Surging Soap Demand
The rise in the demand for soap and soap products is expected to propel the growth of the epoxide market going forward. Soap refers to a salt of fatty acid that is used in a variety of cleansing and lubricating products. Soap products such as detergents, gels, and others are used for washing and cleaning. Ethylene epoxide is used as a base material in the manufacturing of soaps. This helps to increase the potential hydrogen (PH) levels in soap. For instance, according to data published by The Observatory of Economic Complexity (OEC), a Brazil-based data visualization website, In 2021, global trade data revealed a $2.3 billion market for Soaps for purposes other than toilet soap, solid, with China leading as the top exporter at $603 million and the United States as the leading importer at $322 million. Despite a -12.2% export growth between 2020 and 2021, Soaps for purposes other than toilet soap, solid maintained a 0.011% share of world trade, showcasing ongoing international demand for these products. Therefore, the rise in demand for soap and soap products is driving the growth of the epoxide market.
Competitive Landscape:
Major companies operating in the epoxide market report are Exxon Mobil Corporation, BASF SE, Badische Anilin- und SodaFabrik, Dow Inc., Huntsman International LLC, LG Chem Ltd., 3M Company, Wanhua Industrial Group Co. Ltd., Covestro AG, Solvay SA, Nan Ya Plastics Corporation, Eastman Chemical Company, Olin Corporation, LANXESS Deutschland GmbH, Lubrizol Corporation, Daelim Co. Ltd., Daicel Corporation, ADEKA CORPORATION, Evonik Industries AG, Hexion, Ashland Global Holdings Inc., UPC Technology Corporation, KUKDO CHEMICAL CO. LTD., Mapei S.p.A., Atul Ltd., Dymax Corporation, Galata Chemicals Galata Chemicals LLC, INEOS Capital Limited, H.B. Fuller Construction Products Inc., Chang Chun Plastics Co. Ltd., Jiangsu Sanmu Group, Techstorm Advanced Materials
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Top Trend - Evolving Industry Needs Drive Product Innovation
Major companies operating in the epoxide market are focusing on product launches, such as a thermally conductive epoxy product line, to meet the evolving needs of various industries. A thermally conductive epoxy product line consists of materials designed to efficiently transfer heat while maintaining the bonding and sealing characteristics of traditional epoxy formulations. For instance, in September 2023, G6 Materials, a US-based company that develops advanced materials and composites for industrial uses, launched G6 Materials' new thermally conductive epoxy product line. This launch of G6E-TSHV and G6E-TSAL with high thermal conductivity, non-electrically conductive properties, and a low viscosity option addresses diverse industry needs. This innovative product line enhances epoxy options for applications requiring efficient heat transfer, electrical insulation, easy flow, and wetting characteristics, contributing to the expansion and advancement of the epoxide market.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Epoxide Market Characteristics
3. Epoxide Market Trends And Strategies
4. Epoxide Market - Macro Economic Scenario
5. Epoxide Market Size And Growth
…..
27. Epoxide Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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