Epichlorohydrin Market: Global Industry Analysis and Forecast (2023-2029)

Epichlorohydrin Market was valued at US$ 2.89 Bn. in 2022. Epichlorohydrin Market size is expected to grow at a CAGR of 6% through the forecast period.
Epichlorohydrin Market Overview:
Epichlorohydrin is a substance that contains both epoxy and chlorine components. It is extensively employed in numerous fields as a result of these advantages. It is only mildly soluble in water because of its chiral structure and the existence of a potent epoxy bond. Epoxy resin, glue, and plastic are produced using epichlorohydrin. Epichlorohydrin is produced using glycerin as a starting ingredient. Nitrate and epichlorohydrin can also be combined to create fumigants, solvents, and other explosives.

Paper-making polymers and epichlorohydrin reacted with one another. Epichlorohydrin is additionally employed in the production of foods and drinks. Epichlorohydrin is utilized in paints and coatings in the form of alkyd resins. The process of producing glycerin and cellphones is in manufacturing. Additionally, ECH uses it to produce explosives, cosmetics, and other military goods. Water treatment and water cleansing processes both make use of epichlorohydrin. Epichlorohydrin is a product that is used in the production of surfactants and detergents.To know about the Research Methodology :- Request Free Sample Report
Epichlorohydrin Market Dynamics:
Epichlorohydrin Market COVID 19 Insights:

The covid-19 pandemic has had a significant impact on the world economy, severely affecting both small and large-scale businesses. To combat the virus, the government has implemented social isolation as well as lockdowns in several nations. This has helped slow the infection's rapid spread. As a result, several nations are experiencing shutdowns, and product manufacturing has ceased.

The demand for epichlorohydrin has declined because of poor production in various industries. Additionally, practically everyone has stopped doing any building work, which is problematic for the epichlorohydrin market because coatings and paintings play a significant role in the market. The major firms are making every effort to boost the market.

Epichlorohydrin Market Drivers:

1. Increasing demand in the paint and coating sector: The growing need for paints and coatings in the construction sector is one of the main factors driving the market for epichlorohydrin. The greatest market share was held by paints and coatings, and this share is forecasted to increase even more through the forecast period.

The necessity for development along with the advancement will benefit the market during the forecast period. In addition to building, paints and coatings are utilized in the automotive sector, and the rising demand for cars due to a growing world population will increase the epichlorohydrin market.

2. High demand in plastic production: The demand for epichlorohydrin is also significantly influenced by using plastic in a variety of sectors. The need for epichlorohydrin in the plastic production plant is being driven by the fact that plastic is one of the most often used materials in the world.

The government's efforts to supply clean water and the growing demand for water purification are boosting the market for epichlorohydrin. Epichlorohydrin has a wide range of uses in the production of glues, glycerol, and epoxy resins, which will cause a significant increase in the market through the forecast period.

Epichlorohydrin Market Opportunities:

The construction sector makes extensive use of epichlorohydrin for coatings and paints. Additionally, the market will see opportunities because of the need for infrastructure growth brought on by the economic growth and government initiatives to improve infrastructure.

Because of the improving economy, more people are building homes, which is causing the epichlorohydrin market to rise. The need for paints and coatings is rising along with the vehicle market's growth and the growing population. Additionally, it increases the market for epichlorohydrin.

Epichlorohydrin Market Restraints:

The negative effects of epichlorohydrin on human health and the environment are one of the main obstacles. One of the main market constraints is raising consumer knowledge of dangerous chemicals; in addition, governments are outlawing epichlorohydrin in several nations due to environmental concerns.
Epichlorohydrin is being replaced by a variety of other chemicals as a result of technological advancements, just as the manufacture of epidermal is being replaced by more modern techniques. Additionally, it aids in reducing negative environmental consequences. As a result, it now serves as a limiter for the magnitude of epichlorohydrin. The market is being hampered by limitations on the use of epichlorohydrin due to its toxicity.

Epichlorohydrin Market Challenges:

The market is facing one of its toughest difficulties as new procedures begin to replace outdated ones. And today's business is using new methods for creating goods that pose a significant market challenge. Growing public health concerns present another obstacle for the market for epichlorohydrin.

One of the main obstacles facing the epichlorohydrin business is the development of better, environmentally friendly alternatives. To increase market demand during the forecast period, the leading companies are doing everything in their power to overcome these obstacles. The market is expected to expand during the forecast period.
Epichlorohydrin Market Segment Analysis:
Based on Feedstock, the market for epichlorohydrin had the biggest percentage of feedstock based on petroleum. The historical production method for epichlorohydrin (ECH) uses petroleum-based feedstock. Epichlorohydrin is typically produced using a multi-step method based on propylene, which is made of petrochemicals.

Currently, the classic propylene high-temperature reaction with chlorine followed by hydrolysis still provides about 85% of the industrial ECH demand. Epichlorohydrin is a versatile organic chemical raw material and intermediate chemical element. Epoxy resins, a crucial component of paints, varnishes, electrical insulating materials, and glass fibre reinforced polymers used in the construction of aircraft, automobiles, ships, printed circuits, and wind turbines, are produced primarily using it.Based on the Application, the epichlorohydrin market was dominated by epoxy resins, which are expected to grow with a CAGR of 4.5 % during the forecast period. Epichlorohydrin (ECH) and bisphenol-A (BPA) react to create epoxies, while different raw materials (such as aliphatic glycols, phenol, and o-cresol novolacs) may be used in place of BPA to create specialty resins. Epoxy-based paints and coatings are more energy-efficient and environmentally friendly than heat-cured coatings.

The market for paints and coatings will increase due to rising purchasing power, changing lifestyles, rapid industrialization, and population growth. These resins are used to create high-performance adhesives that have exceptional chemical and heat resistance and are employed in the production of vehicles, bicycles, and aircraft. Epoxy resins are additionally utilized, among other things, in transformers, engines, and generators. The demand for epoxy resins will increase due to the end-use industries' rapid development, which will drive new markets through the forecast period.
Epichlorohydrin Market Regional Insights:
Asia Pacific region dominates the market with a 44.2% share. Because of demand from growing countries like China and India, the Asia-Pacific region is expected to dominate the market. Industrialization, the rapidly growing consumer class, etc., are the key drivers of the region. These elements are boosting the growth of the epichlorohydrin market in the area.

In the Asia-Pacific region, epichlorohydrin is mostly produced. Dow, Solvay, Samsung Fine Chemicals Co. Ltd, Aditya Birla Management Corporation Pvt. Ltd and Hexion Inc. are a few of the top producers of epichlorohydrin. With a market share of roughly 65%, Asia-Pacific was the largest market for epoxy resins because most growing economies are concentrated here. Increasing industrialization and growing infrastructural development make it a promising market for epichlorohydrin-produced epoxy resins.

Due to the region's rising level of living, which has led to an increase in demand for high-quality drinking water, the Asia-Pacific water treatment chemicals market is expected to experience significant growth during the forecast period, in terms of volume. The market for epichlorohydrin in the Asia-Pacific region is estimated to rise throughout the study period because of the factors mentioned.

The strong demand for chemical products, capital infusion, upgrading, and oil exploration in North America account for the region's second-highest market share in terms of epichlorohydrin consumption. The main donor in this region is the US.

The existence of producers in the US is stimulating the market in this area, much as the makers of epichlorohydrin in India. Due to its rapidly growing automobile sector, the European region currently occupies the third spot in the market. During the market's forecast period, demand in each of these regions will increase quickly.

The objective of the report is to present a comprehensive analysis of the global Epichlorohydrin Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Epichlorohydrin Market dynamic, and structure by analyzing the market segments and projecting the Epichlorohydrin Market size. Clear representation of competitive analysis of key players by Product type, price, financial position, product portfolio, growth strategies, and regional presence in the Epichlorohydrin Market make the report investor’s guide.
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Epichlorohydrin Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 2.89 Bn.


Forecast Period 2023 to 2029 CAGR:
6%
Market Size in 2029:
US$ 4.35 Bn.


 Segments Covered:
by Feedstock
Petro-Based
Bio-Based.


by Application
Epoxy Resins
Synthetic Glycerin
Water Treatment Chemicals
Pharmaceuticals
Inks and Dyes
Others


by End-Use
Paints & Coatings
Electrical & Electronics
Construction
Wind Turbines
Composites
Textile
Others



Epichlorohydrin Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Epichlorohydrin Market Key Players are:
1. Dow Chemical Company (Michigan, US)
2. Samsung Fine Chemicals Co. Ltd (Ulsan, South Korea)
3. Hexion Inc. (Columbus, US)
4. Shandong Haili Chemical Industry Co. Ltd (China)
5. Formosa Korea (Taiwan)
6. Solvay SA (Belgium)
7. Momentive Performance Materials Inc. (New York, US)
8. Kumho P & B Chemicals Inc. (South Korea)
9. Aditya Birla Management Corporation Pvt. Ltd (Mumbai, India)
10.Parchem fine & specialty chemicals (New York, US)
11.Sumitomo Chemical Co. Ltd (Tokyo, Japan)
12.Spolchemie AS (Czech Republic)
13.NAMA Chemicals (Jubail, Saudi Arabia)
14.Kashima Chemical Co. Ltd (Japan)

Frequently Asked Questions:

1] What segments are covered in the Global Epichlorohydrin Market report?
Ans. The segments covered in the Epichlorohydrin Market report are based on Feedstock, Application, and End-User.

2] Which region is expected to hold the highest share in the Global Epichlorohydrin Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Epichlorohydrin Market.

3] What is the market size of the Global Epichlorohydrin Market by 2029?
Ans. The market size of the Epichlorohydrin Market by 2029 is expected to reach US$ 4.35 Bn.

4] What is the forecast period for the Global Epichlorohydrin Market?
Ans. The forecast period for the Epichlorohydrin Market is 2023-2029.

5] What was the market size of the Global Epichlorohydrin Market in 2022?
Ans. The market size of the Epichlorohydrin Market in 2022 was valued at US$ 2.89 Bn.