The expansion in the construction sector, the rising demand for epoxy resins, the elevating demand for bio-based products have resulted in boosting the U.S. Epichlorohydrin market.
U.S. Epichlorohydrin Market Size – USD 2,695.8 Million in 2020, Growth - CAGR of 4.40%, Trends – The elevating demand for bio-based products
The global U.S. Epichlorohydrin Market is forecast to reach USD 3,870.9 Million by 2028, according to a new report by Reports and Data. U.S. Epichlorohydrin (ECH) is a flammable and a volatile clear liquid at room temperature, which is insoluble in water. It has a garlicky, pungent, sweet odor. It is usually made from allyl chloride that is derived from chlorine/caustic soda and propylene. It is primarily used in manufacturing glycerol and unmodified epoxy resins. To a lesser extent, it is used in producing water treatment resins, elastomers, ion exchange resins, surfactants, plasticizers, adhesives, and lubricants, among others. It also finds application in manufacturing synthetic glycerine, textiles, solvents, inks and dyes, paper, and surfactants. The compound is also listed in commercial pesticides as an inert ingredient. In the textile industry, the compound is used in modifying carboxyl groups of wool. The end-product has an enhanced and longer resistance to moths.
In context to region, North America can be seen to occupy a significant market share. The market share held by the region is attributed to rising demand for specialty chemicals and continuous expansion of the automotive aerospace industry that is boosting the demand for ECH in this region.
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Top Lading Players: DAISO Co. Ltd., Aditya Birla Chemicals, Hanwha Chemical, Formosa Plastics, Kashima Chemical, Jiangsu Yangnong Chemical Group, Spolchemie AS, Momentive Specialty Chemical Industries (Hexion), Sumitomo Chemicals and Spolchemie AS.
Some Key Highlights from the Report:
- The U.S. Epichlorohydrin market held a market share of USD 36 Billion in the year 2018 that is forecasted to grow at a rate of 5.1% during the forecast period.
- In context to Raw Materials, the Bio-based segment is projected to witness the fastest growth rate of 6.6% during the forecast period, which is expected to occupy 35.0% of the market by 2028. The rising demand for bio-based products among consumers and continuous growth in the number of plants for producing ECH from renewable sources, particularly from glycerin, contributes to the growth rate witnessed by this segment. The glycerin used in the production of ECH is derived as a by-product from the manufacture of biodiesel.
- In context to End-use, the Paints and Coatings segment is leading the market that generated the highest revenue of USD 0.97 Billion in 2018 with a growth rate of 5.3% during the forecast period. The revenue generated by the segment is attributed to increasing demand for epoxy coatings that results in elevating the use of ECH in paints coatings. The applicability of this compound as a solvent for paints and coatings also results in its extensive use in this segment.
- In context to Application, the Water treatment chemicals segment is projected to witness a considerable growth rate of 6.1% during the forecast period, which is expected to occupy more than 10% of the market by 2028. The rising awareness about consumption of hygienic processed water and applicability of the compound in polyamide water treatment chemicals contributes to the growth rate witnessed by this segment.
- In regards to the region, Europe held 0% of the market in 2018, with a growth rate of 5.3% during the forecast period. Factors like the presence of well-established, mature automotive, electrical electronics sector is supporting the growth of the market in this region.
Segments covered in the report:
Raw Materials Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Bio-based
- Petro-based
End-use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Paints and Coatings
- Wind turbine
- Composites
- Construction
- Adhesives
- Electrical and electronics
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Epoxy resins
- Water treatment chemicals
- Synthetic Glycerin
- Pharmaceuticals
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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