The new report by Expert Market Research titled, ‘Global Epichlorohydrin Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global epichlorohydrin market, assessing the market based on its end-use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.5%
• Forecast Market Size (2026): USD 3.35 Billion
The growth in the global epichlorohydrin market is induced by the increasing demand for epoxy resins in multiple end industries and surge in production of automobile, as primarily it is used as a raw material for production of epoxy resin. Epoxy resins are majorly used in heavy-duty metal substrate paints and coatings. These are more environmentally friendly and use less energy than heat-cured coatings. Increase in spending power, lifestyle changes, strong industrialization, and an escalating population will drive the growth of the construction sector, driving up demand for paints and coatings.
Epichlorohydrin Industry Definition and Major Segments
Epichlorohydrin is made up of organic bonds and chlorine and has an epoxy structure. The chemical is made by chlorohydrinating allyl chloride. It is a clear, colorless, volatile, and flammable liquid with an unpleasant odor.
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Based on type, the market is divided into:
• Petro Based
• Bio Based
Based on processes, the industry is segmented into:
• Allyl Chloride Route
• Allyl Alcohol Route
• Glycerine Route
Based on application, the market can be categorised as:
• Epoxy Resins
• Synthetic Glycerine
• Water Treatment Chemicals
Based on end-use, the market is divided into:
• Paint and Coating
On the basis of region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Epichlorohydrin Market Trends
Epichlorohydrin is used in a variety of industries, including automotive, pharmaceuticals, textiles, and electronics, and with these industries expanding specially in the emerging markets, the epichlorohydrin demand is anticipated to rise. Because epichlorohydrin is obtained from petroleum-based products, the epichlorohydrin industry is expected to expand as petroleum refining and exploration activities increase. However, this is a possible constraint as governments are enforcing strict rules to reduce reliance on nonrenewable energy sources, also consumers who want to steer clear of sources which are potentially harmful.
Key Market Players
The major players in the market are Solvay S.A., LOTTE Fine Chemical Co., Ltd., Olin Corporation, Aditya Birla Chemicals, Sumitomo Chemical Co. Ltd., and Nama Chemicals Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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