As per Market Research Future (MRFR), the global epichlorohydrin market is expected to witness a significant growth of 2580.04 Kilo Tons with a CAGR of 5% from forecast period. The report provides an analysis of the market opportunities and market impacts that have arisen as a result of the COVID-19 pandemic. The detailed study report focuses on the direct and indirect impacts of COVID-19 with new product launches, supply chain reviews, government regulations, and strategies implemented by key market players.
Epichlorohydrin is also known as ECH, chloromethyloxirane, 2, 3-epoxypropyl chloride, oxirane. Epichlorohydrin has characteristics such as excellent resistance to hydrocarbon oils fuels, excellent resistance to ozone weathering, low permeability of solvent gas, and medium to high-temperature durability. Epichlorohydrin is used primarily for the production of epoxy resins, synthetic glycerin, water treatment chemicals, and others.
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Market Dynamics
Increasing demand for epoxy resins in various end-user industries is expected to propel the market for epichlorohydrin. Rising demand for synthetic glycerin due to growing applications is also expected to drive the market for epichlorohydrin.
Epichlorohydrin is irritating and mildly toxic when it comes into contact with the skin, and when it is swallowed, it is also carcinogenic. The regulatory authorities are also concerned that the harmful effects of epichlorohydrin on health and the environment are likely to impede the development of the global market for epichlorohydrin.
Market Segmentation
The global market for epichlorohydrin has been majorly segmented based on application and end-users.
Based on application, the global market for epichlorohydrin has been segmented into epoxy resins, synthetic glycerin, water treatment chemicals, and others (elastomers, water-treatment resins, surfactants, ion exchange resins, plasticizers, dyestuffs, oil emulsifiers, lubricants, and adhesives).
Based on end-user, the global market for epichlorohydrin has been segmented into automotive, electronics, textiles, pharmaceutical, construction industry, and others. In the construction industry, epoxy resins are used to manufacture flooring throughout high-traffic areas such as shopping centers, industrial buildings, and hospitals due to their anti-slip textures. These are also used to bind concrete to itself or steel in monument reconstruction applications.
Regional Analysis
Region-wise, the global market for epichlorohydrin has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
The Asia Pacific is the largest epichlorohydrin market due to demand for various applications such as epoxy resins and synthetic glycerin in China, followed by Japan. Increased demand for epoxy resins and synthetic glycerin in India, Taiwan, and South Korea has made Asia Pacific the world's largest consumer of epichlorohydrin, followed by a rise in consumption of epichlorohydrin in the European region.
North America is the third-largest market for epichlorohydrin.
Latin America and the Middle East have also experienced the growth of the epichlorohydrin market due to various end-user industries such as automotive, electronics, textiles, industrial, pharmaceutical, and other industries.
Key Players
Some of the leading participants in the global epichlorohydrin market are Solvay S.A. Chemicals company (Europe), Zachem SA (Europe), Samsung Fine Chemicals Co., Ltd. (Korea), Dow Chemical Company (US), Sumitomo Chemical Co. (Japan), Aditya Birla Chemicals (India), Osaka Soda Co., Ltd. (Japan), Formosa Plastics Corporation (US), Shandong Haili Chemical Industry Co. Ltd (China), NAMA Chemicals (Saudi Arabia), and others.
The key focus of the industry participants is the development of capacity expansions and the expansion of the product portfolio. Many companies have a wide variety of product lines catering to a number of end-use industries in various geographies, ensuring a balance between demand and supply.
Industry News:
In March 2020, Advanced Biochemical (Thailand) Co., Ltd. (ABT), a bio-based company and a wholly-owned subsidiary of the Vinythai public company, announced that they would increase their production capacity in the Map Ta Phut, Thailand. This factory is now expected to produce almost 120,000 metric tons per year (m.t./yr) of bio-based epichlorohydrin (ECH). The recent announcement has promised an increase by 20,000 m.t./yr. The company has acquired this permission from the Industrial Estate Authority of Thailand.
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