Press release
Epoxide Market Size, Growth Analysis, Share, Key Trends And Forecast To 2033
Epoxide Market
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.
Market Overview -
Epoxides refer to a volatile organic cyclic type of ether compound that is colorless and non-polar. The basic structure of an epoxide contains an oxygen atom attached to two adjacent carbon atoms of a hydrocarbon. The most common epoxy resin is formed through the reaction of epichlorohydrin with bisphenol. Epoxide market consists of sales of epoxides by entities (organizations, sole traders, and partnerships) that are used to manufacture various types of products such as surfactants, adhesives, coatings, drugs, and others.
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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
Product innovation is a key trend gaining popularity in the epoxide market. Major companies operating in the epoxide sector are concentrating on enhancing the epoxide products such as styrene-free pure and green epoxy resins to offer long service life while reducing their carbon footprint and make the process more environmentally friendly. For instance, in October 2022, Bossong SPA, an Italian producer of mechanical and chemical anchors launched E-Plus, an innovative bi-component styrene-free pure epoxy resin. E-Plus is earthquake resistant and a green chemical anchor designed to fulfill the requirements of the construction industry while also reducing the environmental impact. It offers a long 100-year service life, which is twice the life of standard resins with fire resistance. It can used with wood, masonry, and concrete in various temperatures due to its ability of no shrinking.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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