HBPA Epoxy Resins Market Statistics - 2030
The global HBPA epoxy resins market size was valued at $1.9 billion in 2020, and is projected to reach $3.1 billion by 2030, exhibiting a CAGR of 5.4% from 2021 to 2030.
Hydrogenated bisphenol A (HBPA) is a chemical used for the formation of unsaturated alkyd, polyester, and epoxy resins, which are further used as raw materials for various paints and engineering plastics to improve the quality of the final product. HBPA epoxy resins have application in several end-use industries such as electrical industry, construction, automotive, and paints & coating. Rapidly increasing construction and automotive industry across the globe especially in the developing countries, such as India, is likely to create abundant growth opportunities for HBPA epoxy resins market during the forecast period. Furthermore, increase in global warming and rise in need to meet the ever-increasing future demand for power have led to the development of solar and wind power plant facilities. The liquid form of HBPA epoxy resin is widely used in wind power applications. HBPA epoxy resins are further used as coating materials for high-voltage electrical machines such as wind blades, generators, transformers, surge accelerators, and isolators. In addition, increase in investment of developing countries toward the industrial and commercial facilities will boost the need for various electronic devices and coatings to protect flooring to ensure safety of users and increase the life span of the products. The abovementioned applications are expected to provide ample opportunities for the growth of HBPA epoxy resins market throughout the forecast period. The presence of industrial giants in the automobile sector and energy sector in North America has shown a positive impact on HBPA epoxy resins market. Furthermore, increase in awareness among people toward the environment and eco-friendly products has driven the demand for electric vehicles as HBPA epoxy resins can reduce the weight of the body and improve the safety functions against electrical problems. The presence of electrical automobile giant Tesla and its rapid advancements in technology to make electrical vehicles more comfortable and efficient for customers is one of the driving factors for the growth of HBPA epoxy resins market. The presence of Space X and their rapid development toward industrial production of rockets have boosted the demand for HBPA epoxy resins, these resins find their application in the production of space vehicles due, to their heat-resistant properties and electrical insulation properties.
During the production of HBPA epoxy resins, manufacturers must adhere to stringent regulatory landscapes as it exhibits toxic effects, due to its volatile organic compounds in nature that may lead to dermatitis. During the production, HBPA epoxy resins produce harmful gases that can harm environment causing global warming and pollution. In addition, volatility in prices of raw materials used for manufacturing HBPA epoxy resins is expected to hamper the growth of HBPA epoxy resins market during the forecast period.
The global HBPA epoxy resins market is segmented on the basis of form, application, and region.
By Form
Solid is projected to create abundant $ opportunity till 2030
On the basis of form, the global HBPA epoxy resins market is segmented into solid and liquid. The applications covered in the study include paints & coating, electrical insulation, construction, automotive, and others.
By Application
Electrical insulation is projected as the most lucrative segment.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.
By Region
Asia Pacific holds a dominant position in 2020
The major companies profiled in this report include Hexion Corporation, Atul Ltd, Huntsman Corporation, Mitsubishi Chemical Corporation, Kukdo Chemical Co. Ltd., Aditya Birla Chemicals, Milliken Chemical, SIR Industriale, New Japan Chemical Company, and Emerald Performance Material.
Key Benefits For Stakeholders
- The report outlines the current trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets of the HBPA epoxy resins market.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The major countries have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Impact Of Covid-19 On The Global Epoxy Curing Agents Market
- Emergence of COVID-19 had a negative impact on the growth of the global HBPA epoxy resins market for a short period.
- This impact is mostly attributed to the significant disruptions during manufacturing and supply chain operations as a result of various precautions and other restrictions imposed by the government to curb the spread of the virus.
- Decrease in demand for many nonessential products and shut down of many electrical infrastructure activities during this period have created a negative impact on the development of HBPA epoxy resins market
- Surge in demand for eco-friendly products such as electric vehicles and investment of various countries in renewable energy sources during this pandemic period to overcome the energy restraints are expected to provide potential opportunities for HBPA epoxy resins market.
- Thus, the abovementioned factors are expected to limit the global HBPA epoxy resins market growth in current times.
Key Market Segments
By Form
- Solid
- Liquid
By Application
- Paints & Coating
- Electrical Insulation
- Construction
- Automotive
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key players in the global HBPA epoxy resins market are:
- Hexion Corporation
- Atul Ltd
- Huntsman Corporation
- Mitsubishi Chemical Corporation
- Kukdo Chemical Co. Ltd.
- Aditya Birla Chemicals
- Milliken Chemical
- SIR Industriale
- New Japan Chemical Company
- Emerald Performance Material
HBPA Epoxy Resins Market Report Highlights
| Aspects | Details |
 By FORM |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | Atul Ltd, Emerald Performance Material, Hexion Corporation, Huntsman Corporation, KUKDO CHEMICAL CO. LTD, Aditya Birla Chemicals, New Japan Chemical Company, SIR Industriale, Milliken Chemical, Mitsubishi Chemical Corporation |
Analyst Review
The global HBPA epoxy resins market is expected to exhibit high growth potential during the forecast period, due to rapid expansion of the construction and electronics industries.
Several environmental and health concerns associated during the production of HBPA epoxy resins and volatility of raw material prices are anticipated to hinder the growth of the HBPA epoxy resins market. Conversely, increase in demand for HBPA epoxy resins in application of renewable energy and surge in demand of HBPA epoxy resins in several end-use applications such as construction, electrical & electronics, paints & coating, and automotive are some of the key factors expected to provide high demand for the HBPA epoxy resins. In addition, increase in safety awareness and stringent regulations toward the industrial and commercial facilities regarding electrical insulation problems, rapid increase in the development of renewable energy resources and infrastructure facilities in developing countries require good quality electrical insulation materials which expected to drive the global HBPA epoxy resins market demand throughout the forecast period.
The COVID-19 pandemic has negatively impacted the global HBPA epoxy resins market, due to decrease in demand for many nonessential products and shut down of many electrical infrastructure activities during pandemic period.
Moreover, companies are inheriting expansion and acquisition strategies to boost the growth of the HBPA epoxy resins market throughout the forecast period.
Increase in the demand for energy and development of power generation industry, increase in safety awareness and stringent regulations towards industrial and commercial facilities are the key factors boosting the HBPA epoxy resins market growth
The expected market value of HBPA Epoxy Resins by 2028 is US$ 2.8 billion
Hexion Corporation, Atul Ltd, Huntsman Corporation, Mitsubishi Chemical Corporation, Kukdo Chemical Co. Ltd., Aditya Birla Chemicals, Milliken Chemical, SIR Industriale, New Japan Chemical Company and Emerald Performance Material
Electrical and electronics industry is projected to increase the demand for HBPA Epoxy Resins Market
The global HBPA epoxy resins market is segmented on the basis of form, application and region. On the basis of form, the global HBPA epoxy resins market is segmented into solid and liquid. The applications covered in the study include paints & coating, electrical insulation, automobile, construction and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Rapid increase in the development of renewable energy resources and infrastructure facilities in developing countries is the Main Driver of HBPA epoxy resins Market
Electrical insulation, paints and coating segment is expected to drive the adoption of HBPA epoxy resins?
Emergence of COVID-19 had a negative impact on the growth of the global HBPA epoxy resins market for a short period.
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