Epichlorohydrin Market Analysis:
Epichlorohydrin is an unpleasant smelling, dull harmful epoxide fluid. It is fabricated utilizing allyl chloride, chlorine, and water by passing it through a few reactors. It is principally utilized in the creation of epoxy saps, epichlorohydrin elastomers, water treatment synthetics, surfactants, and pitch for paper creation. It is widely utilized in ventures, for example, paints, gadgets, cements, automobiles, and construction. Epoxy pitches are utilized in paint and coatings of various metal substrates. Epichlorohydrin elastic has better mineral oil and hear obstruction than nitrile elastic and gives improved adaptability at low temperature. Moreover, epichlorohydrin exhibits various properties such as low gas porousness, climate and ozone obstruction, and dissolvable and warmth opposition, which are highly required in automobiles industry for hoses, seals, gaskets, link coats, O-rings, and belts. Rise in demand for epoxy saps from different end-use industries such as building and automobiles is expected to boost the market growth during the forecast period.
COVID-19 scenario analysis
The outbreak of COVID-19 has disrupted the global economy by halting the operations of industries such as electronics, construction, automotive, and textile. The worldwide lockdown has made the industries to shut down their power plants due to lack of man power. Moreover, the disruption of supply chain has reduced the demand for the electronics appliances and various consumer goods. However, the use of epichlorohydrin in the pharmaceutical industry is anticipated to boost the demand for the product, as pharmaceuticals is the only industry, which is completely operational during this time of crisis.
Market scenario analysis
Increase in adoption of epoxy pitches in different end-use industries, due to its dielectric properties, high rigidity, and erosion resistance is expected to be the major factor driving the growth of the global epichlorohydrin market during the forecast period. Innovations are being carried out by manufacturers for the creation of epichlorohydrin for replacing the petro-based crude material (propylene) by bio-based crude material (glycerine). Rise in demand for automobiles due to increase in disposable income drives the market for epichlorohydrin across the globe. Developing paints and coatings industry and rapid industrialization are further anticipated to augment the growth of the target market. Moreover, shift toward bio-based epichlorohydrin by various industries such as automotive, construction, and pharmaceuticals, owing to its biodegradable property is expected to boost the market growth during the forecast period. However, tough guidelines by government relating to ecological and wellbeing concerns are a key factor which may hamper the growth of the epichlorohydrin market over the forecast period. In addition, high raw material expense is expected to limit the growth of the epichlorohydrin market.
The global epichlorohydrin market is analyzed across North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. The Asia-Pacific market garners the maximum share in the market, and is anticipated to grow at a fast rate during the forecast period. Increase in demand for epoxy tars from different end-use businesses, such as paints & coatings is a major factor expected to drive development of the market in the Asia-Pacific region. Furthermore, the Europe epichlorohydrin market is expected to grow at moderate rate, due to rapid industrialization and developing pharmaceutical, development, and different businesses in the region.
Key benefits of the report
- This study presents the analytical depiction of the global epichlorohydrin industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global epichlorohydrin market share.
- The current market is quantitatively analyzed to highlight the global epichlorohydrin market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global epichlorohydrin market research report:
- Which are the leading players active in the global epichlorohydrin market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Epichlorohydrin Market Report Highlights
By End-use industry
Key Market Players
Kashima Chemical Co. Ltd., NAMA Chemicals, FORMOSA PLASTIC CORPORATION, TechnipFMC plc, Hanwha Chemical Corporation, Spolchemie AS, Aditya Birla Chemicals, Shandong Haili Chemical Industry Co. Ltd., LOTTE Fine Chemical Co. Ltd., Olin Corporation