Epichlorohydrin Market Overview to 2023: —
The global epichlorohydrin market is expected to exhibit a CAGR of 5% over the forecast period from 2016 to 2023, according to Market Research Future (MRFR), growing to an overall volume of more than 2,580 kilotons. The global epichlorohydrin market is examined from all angles in the new research report, including an analysis of the major factors propelling and restraining the market’s growth, the leading segments dominating the market, and the leading players operating in the market. The historical growth trajectory of the global epichlorohydrin market is assessed in detail in the report to provide pointers as to the likely future growth trajectory of the market over the forecast period.
Epichlorohydrin is mainly used in the production of epoxy resins, synthetic glycerin, and other chemicals, including water treatment chemicals and others. The growing demand for epoxy resins from the global manufacturing sector is likely to be a major driver for the global epichlorohydrin market over the forecast period. Epoxy resins are used in various manufacturing applications due to their high resistance to moisture and chemicals as well as the structural rigidity they provide in terms of supporting weight and balancing the whole structure without compromising on the low weight requirements of modern design principles. The growing demand from the construction and automotive sectors is likely to be vital for the market’s progression over the forecast period.
On the other hand, regulatory restrictions on the use of epichlorohydrin in proximity to human presence are likely to be a key restraint against the global epichlorohydrin market over the forecast period. Epichlorohydrin in moderately toxic and a slight irritant, especially if it gets into contact with the skin. It is also carcinogenic, which has made it a highly regulated item in terms of its safety threat. This is likely to hamper the global epichlorohydrin market’s growth over the forecast period.
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The global epichlorohydrin market is segmented on the basis of application, end use, and region.
Based on application, the epichlorohydrin market is segmented into epoxy resins, synthetic glycerin, water treatment chemicals, and others including elastomers, water treatment resins, surfactants, ion exchange resins, plasticizers, dyestuffs, oil emulsifiers, lubricants, and adhesives. Epoxy resin production is likely to be the major application segment of the global epichlorohydrin market over the forecast period.
Based on end use, the epichlorohydrin market is segmented into automotive, electronics, textiles, pharmaceutical, construction, and others.
The global epichlorohydrin market is segmented by region into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.
Asia Pacific is the leading regional segment of the global epichlorohydrin market and is likely to retain a dominant share in the global epichlorohydrin market over the forecast period. The growing demand for epoxy resin in Asia Pacific is likely to be a major driver for the global epichlorohydrin market over the forecast period. The manufacturing sector in Asia Pacific has really taken off in the last few years, leading to a growth in the demand for epoxy resin, especially in the automotive industry. This is likely to be a major driver for the epichlorohydrin market over the forecast period, as the consumer electronics industry and other manufacturing industries are also likely to grow at a solid growth rate over the forecast period in Asia Pacific. China, followed by Japan, are likely to be the leaders in the epichlorohydrin market in Asia Pacific over the forecast period due to the steady growth of the manufacturing sector in these regions and the growing demand for epoxy resins and synthetic glycerol.
Europe follows Asia Pacific in the global epichlorohydrin market’s charts, followed by North America.
Leading players in the global epichlorohydrin market include Solvay S.A., Samsung Fine Chemicals Co. Ltd., Sumitomo Chemical Co., Osaka Soda Co. Ltd., Shandong Haili Chemical Industry Co. Ltd., NAMA Chemicals, Formosa Plastics Corporation, Aditya Birla Chemicals, Dow Chemical Company, and Zachem S.A.
In March 2018, TechnipFMC completed the acquisition of epicerol technology to convert glycerol into epichlorohydrin from Solvay.
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