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Epichlorohydrin Market study on expected growth for stem cell therapies
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Mostly epoxy resin manufacturing industries have the largest consumption of epichlorohydrin which is a prominent factor for the growth of global epichlorohydrin market. New eco-friendly technologies are being employed by the manufacturers for the production of epichlorohydrin like replacing the petro-based raw material (propylene) by bio-based raw material (glycerine).
The key drivers of the global epichlorohydrin market are the growth in the number of epoxy resin producers as epichlorohydrin serves as the key ingredient for manufacturing epoxy resin. From the epichlorohydrin market demand point of view the epoxy resin had the highest demand trailed by synthetic glycerine. With the growth of automotive industries the use of epichlorohydrin based rubber in the automotive industry is also increasing thus facilitating to the market growth of global epichlorohydrin market.
The stringent emission standards set by the government for the production of epichlorohydrin might act as a market restraint for the growth of epichlorohydrin market globally. The lump sum production and export of epichlorohydrin by the China manufacturers could act as a restraint for other epichlorohydrin manufacturer’s growth in the market. New technologically advanced process like the Epicerol process is replacing the traditional epichlorohydrin production process which eliminates the environmental restraints hindering the growth of the global epichlorohydrin market.
The global epichlorohydrin market has been divided into seven key geographical regions which includes North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Globally and in the Asia Pacific region, China is the largest producer, manufacturer, exporter and consumer of epichlorohydrin mainly due to the increase in the number of epoxy resin production facilities followed by the automotive industries. The other countries like South Korea, India and Taiwan are also estimated to project a promising growth rate to the epichlorohydrin market.
In North America, the market of protective coating is huge in the United States accounting for a good consumption of epoxy resin thus propelling the epichlorohydrin market growth. The emerging economies of Latin America like Argentina and Brazil are also foreseen to showcase substantial growth rate in the epichlorohydrin market over the forecast period. On the demand side North American and European market has tremendous demand for epichlorohydrin and is expected to register a healthy growth rate. The global epichlorohydrin market is expected to register a stable single digit CAGR over the forecasted period.
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Some of the key players identified in the global epichlorohydrin market are, The Dow Chemical Company, Solvay Chemical SA, Shandong Halli Chemical Industry Co. Ltd., and Spolchemie AS, NAMA Chemicals, Aditya Birla Chemicals, Kashima Chemical Co. Ltd., Tianjin Bohai Chemical Industry Group Co,.Ltd., Sumitomo Chemical Co. Ltd., Hanwha Chemical Co. Ltd., Tianjin Bohai Chemical Industry I&E Corp. , Zhonghai Fine Chemical Co. Ltd., Triplex Chemical Corp., Sinopec Baling Petrochemical Co. Ltd., Shandong Yuexin Chemical Co. Ltd.
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