Epichlorohydrin Market is Expected to Reach US$ 3.52 Bn

his report analyzes and forecasts the market for epichlorohydrin (ECH) at global and regional level. The market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2015 to 2023. The study includes drivers and restraints of the global ECH market. It also covers the impact of these drivers and restraints on demand for ECH during the forecast period. The report also highlights opportunities in the ECH market at the global and regional level.

The report includes detailed value chain analysis, which provides a comprehensive view of the global ECH market. Porter’s Five Forces Model for the ECH market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on market size, growth rate, and general attractiveness.

The study provides a decisive view of the global ECH market by segmenting it in terms of end-users. These segments have been analyzed based on present and future trends in the market. Regional segmentation includes current and forecast demand for ECH in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for ECH in end-user segments in all the regions.

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ECH is a chemical containing epoxy and chlorine element. It has characteristics such as moderate solubility in water, chiral nature, and miscibility in polar solvents owing to which it is used to manufacture epoxy resins and glues, plastics, glycerols, and elastomers. It is manufactured using glycerin and propylene as raw materials. Using propylene as feedstock, allyl chloride and allyl alcohol routes are employed to produce ECH. It can be manufactured through the allyl chloride route in two steps: addition of hypochlorous acid and reaction with base to give epoxide. In the other method, ECH is reacted with bisphenol A diglycidyl ether to obtain resins and polymers that are employed in end-user industries such as pharmaceutical and personal care. ECH is employed in end-user industries such as paints & coatings, textiles, electrical & electronics, agrochemicals etc.

Asia Pacific was the largest producer and consumer of ECH in 2014, owing to high demand for ECH-based products in China. Currently, China accounts for more than one-third of the global ECH market. In terms of volume, Asia Pacific is also the fastest growing region for ECH market owing to the rising demand for ECH in South Korea and Taiwan. Europe was the second-largest consumer of ECH in 2014. This can be ascribed to the increasing demand for this material in paints & coating applications in Germany. The ECH market in North America is anticipated to expand at a modest rate during the forecast period. However, regulatory concerns regarding the harmful effects of ECH on health and environment and decreasing profit margins of manufacturers are estimated to hamper the ECH market in the near future in the North America.

Additionally, it is also used as a crosslinking agent in the manufacture of various other chromatographic resins. ECH is applied in the form of alkyd resins in the paints & coatings industry. It is used in the manufacture of synthetic glycerin, which is further applied in cellophane and meat casings, cosmetics, explosives, and other military products. ECH based resins are primarily used for filtration and purification processes in the water treatment industry. Other end-user industries that employ ECH include surfactants and detergents. These end-user industries are estimated to expand at a significant CAGR during the forecast period.

In terms of revenue, paints & coatings accounted for majority share of the global ECH market in 2014. This trend is projected to continue during the forecast period owing to high demand of paints & coatings from construction and automobile industry. In 2014, water treatment was the fastest expanding end-user segment of the ECH market in terms of revenue. High growth rate of water treatment segment was ascribed to the increasing demand of ECH from the Middle East & Africa and Europe. In 2014, electronics & electrical held nearly one third share of the global ECH market in terms of revenue owing to the significant contribution from Japan. In terms of volume, propylene fulfilled majority of the raw material demand for ECH market in 2014. However, bio-based glycerin which is a by-product of bio-diesel is projected to be the fastest growing raw material segment owing to its lower cost. In 2014, Europe was leading producer of the bio-based glycerin due to the bulk volume produced in Germany.

Research and development activities are being conducted to reduce the hazardous effects of ECH on human health and environment. Furthermore, increase in the demand from end-user industries such as paints & coatings is projected to propel the ECH market. Key players operating in the ECH market include Sumitomo Chemical Co., Ltd., Solvay, Aditya Birla Chemicals (Thailand) Ltd., Osaka Soda Co., Ltd., Spolchemie A.S., Shandong Haili Chemical Industry Co. Ltd (Haili), Samsung Fine Chemicals Co. Ltd, The Dow Chemical Company, Jiangsu Yangnong Chemical Group Co., and Hexion Inc. The ECH market is consolidated; the top players are concentrating on strategic mergers and portfolio enhancement to maintain their market share.

The report segments the global ECH market as follows:
ECH Market - Raw Material Analysis
-Propylene
-Glycerin

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ECH Market - End-user Analysis
-Paints & Coatings
-Electronics & Electrical
-Adhesives
-Paper, Inks & Dyes
-Textiles
-Water Treatment
-Others (Including agrochemicals, surfactants, etc.)

ECH Market - Regional Analysis
-North America
-U.S.
-Rest of North America
-Europe
-France
-U.K.
-Spain
-Germany
-Italy
-Rest of Europe
-Asia Pacific
-China
-Taiwan
-South Korea
-Japan
-ASEAN
-Rest of Asia Pacific

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