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Flexible Epoxy Resin are manufactured by incorporating large groups in the molecular chain, which increase distance between crosslinks. The application segment includes primer, composites, adhesives, semiconductors, electrical laminates, and others. The primer segment is extensively used due to high demand from the paints & coatings industry. It is also used in decorative flooring applications for its chemical and abrasion resistance. The composites are extensively used in military & defense due to weight reduction, corrosion resistance, and part consolidation in military vehicles, military shelters and pallets, and in lightweight helmets & body armor. The adhesive application is used where reduced mechanical stress within the bond line is required, which is caused by the thermal mismatch of the bonded substrates.Competitive Landscape:
Some of the manufacturers operating in the Global Flexible Epoxy Resin Market are Olin Corporation, Hexion, Kukdo Chemical Co., Ltd., Aditya Birla Chemicals, Huntsman International LLC, DIC CORPORATION, Emerald Performance Materials, EPOXONIC, Spolchemie (Czech Republic), Cardolite, Atul Ltd., INTERTRONICS, Conren Ltd., Mereco Technologies, and Resoltech.
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The growing demand for flexible epoxy resin from the paints & coatings application is driving the growth of the global Flexible Epoxy Resin Market. This is attributed to the superior properties that they offer such as high chemical resistance, low viscosity, high durability, and others. These properties are usually used in floor coating, storage tank linings, primer, and binder coating. The global flexible epoxy resin market is driven by the increased product demand as composites from construction activities across the globe.
These resins offer excellent flexible toughness, high bonding properties, fast curing, durability, moisture resistant reliability, and chemical resistance. They lack hydrolytic stability and strength, therefore, are blended as modifiers with other epoxy resins.The global flexible epoxy resin market is driven by the increased product demand as composites from construction activities across the globe. Rapidly growing industrialization in countries such as India, China, the UAE, and Saudi Arabia is expected to boost the product demand over the forecast period. The product demand from the automotive industry is increasing on account of various properties such as moisture & chemical resistance, flexible toughness, and durability.
Properties are also beneficial in the manufacturing of electrical systems & electronics, which is likely to drive the global market during the assessment period. However, stringent regulations regarding control of VOC emissions such as National Emission Standards for Hazardous Air Pollutants (NESHAP) by the U.S. Environmental Protection Agency, and aggressive regulations for air pollutants by the California Air Resources Board (CARB) may challenge the market growth.
Segmental Analysis:
The Global Flexible Epoxy Resin Market is segmented on the basis of the type, application, end-use industry, and region.
On the basis of the type, the Global Flexible Epoxy Resin Market is segmented into urethane modified, rubber modified, and dimer acid.
Based on the application, the market is segmented into the primer, composites, adhesives, semiconductors, electrical laminates, and others.
The market is segmented on the basis of end-user industry into paints & coatings, construction, automotive, electrical & electronics, military & defense, and others.
Regional Insights:
The Global Flexible Epoxy Resin Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific dominated the Global Flexible Epoxy Resin Market in 2016 on account of the high demand from the major end-use industries such as construction, paints & coatings, and automotive industries in the region.
The high demand for these resins from the military & defense and automotive industry coupled with the rebound in construction activities in North America is projected to drive the market growth over the forecast period.
The high product demand for the manufacturing of various automotive parts in Western European countries is likely to influence the market growth.
The Latin American region is expected to grow significantly due to the growing automotive industry in the region.
The infrastructural hub present in the GCC countries is likely to drive the growth of the Middle East & Africa market.
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Some of the development trends in the market observed are a product launch, merger, expansion, and others. For instance, Hexion launched a new specialty epoxy resin system EPIKOTETM Resin TRAC 06605 for styrene-free and sheet molding compound manufacturing of high-performance automotive composites at JEC World 2017 composites event in Paris. This product is used to produce lightweight automotive composite parts such as floors, electrical vehicle battery enclosures, spare wheel tubs, seat structures, hood inners, and others, which has low VOC emissions.
Various automotive parts such as mud flaps, impact panels, underbody guards, bumpers, ducting & sheeting, and others are manufactured with the help of these resins. Moreover, silicone-free thermally conductive foils, flexible printed circuit boards, and pressure sensitive electronic devices are manufactured using flexible epoxy resin.
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