Global Epichlorohydrin (ECH) Market Analysis Raw Material (Bio-based, Petro-based), End-use (Paints and Coatings, Wind turbine, Composites, Construction, Adhesives, Electrical and electronics, Others), Application (Epoxy resins, Water treatment chemicals, Synthetic Glycerine, Pharmaceuticals, Others) & Forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 254
- CATEGORY
- Chemicals & Materials
The global Epichlorohydrin (ECH) market size was valued at USD 2.52 billion in 2022 and is projected to reach USD 4.52 billion by 2033, growing at a CAGR of 5.4 % during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 2.52 billion |
Market Forecast in 2033 | USD 4.52 billion |
CAGR % 2023-2033 | 5.4 % |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Aditya Birla Management Corp. Pvt. Ltd; Daiso Chemical (Thailand) Co. Ltd; Hanwha Group; Hexion Inc.; Jiangsu Yangnong Chemical Group Co. Ltd; Kashima Chemical Co. Ltd; Olin Corp; OSAKA SODA CO. Ltd; Spolchemie AS; Sumitomo Corp. |
Global Epichlorohydrin (ECH) Market- Description
The global epichlorohydrin (ECH) market refers to the market for a versatile chemical compound known as epichlorohydrin. Epichlorohydrin is an organic compound with the molecular formula C3H5ClO. It is a colourless liquid with a strong, irritating odor. The global epichlorohydrin market is driven by the demand for epoxy resins in industries such as automotive, construction, electronics, and aerospace. Epoxy resins offer excellent adhesion, mechanical strength, chemical resistance, and electrical insulation properties, making them indispensable in many applications. The market for epichlorohydrin is influenced by factors such as economic growth, industrialization, technological advancements, and environmental regulations. As industries expand and demand for epoxy resins and other applications rises, the global epichlorohydrin market is expected to witness steady growth.
Epichlorohydrin is a highly versatile compound that can be used as a raw material in the production of a wide range of chemicals and products. It serves as a building block for the synthesis of various epoxy resins, synthetic glycerin, elastomers, and water treatment chemicals. Epichlorohydrin is a crucial component in the production of epoxy resins, which have extensive applications in industries such as construction, automotive, electronics, and coatings. Epoxy resins are known for their excellent adhesive properties, durability, and resistance to heat, chemicals, and moisture.
ECH-based epoxy resins are widely used in the adhesive and sealant industry. These resins provide strong bonding capabilities, making them ideal for bonding metals, plastics, composites, and other materials. ECH-based adhesives and sealants offer excellent adhesion, flexibility, and resistance to environmental factors.
Global Epichlorohydrin (ECH) Market: Key Trends
• Growing Demand in Epoxy Resins:
The demand for epoxy resins continues to rise across industries such as construction, automotive, electronics, and coatings. ECH is a vital raw material for the production of epoxy resins, and the increasing use of epoxy resins drives the demand for ECH.
• Sustainable Production Processes:
There is a growing emphasis on sustainable manufacturing processes in the chemical industry, including the production of Epichlorohydrin. Manufacturers are exploring renewable feedstocks, such as glycerin derived from biodiesel production, to reduce the environmental impact of ECH production.
Global Epichlorohydrin (ECH) Market: Segmental Analysis
Raw Material
• Bio-based
• Petro-based
End-use
• Paints and Coatings
• Wind turbine
• Composites
• Construction
• Adhesives
• Electrical and electronics
• Others
Application
• Epoxy resins
• Water treatment chemicals
• Synthetic Glycerine
• Pharmaceuticals
• Others
Global Epichlorohydrin (ECH) Market: Geographical landscape
North America: The North American region, including the United States and Canada, is a prominent market for Epichlorohydrin. The region is driven by the demand from end-use industries such as automotive, construction, electronics, and paints and coatings. Stringent environmental regulations and a focus on sustainable practices also impact the market dynamics in this region.
Europe: Europe is a well-established market for Epichlorohydrin, with countries like Germany, France, and the United Kingdom playing a key role. The region's automotive, construction, and chemical industries contribute to the demand for ECH. Growing environmental concerns and the adoption of eco-friendly products drive the market growth.
Asia Pacific: The Asia Pacific region is a rapidly expanding market for Epichlorohydrin, led by countries like China, India, Japan, and South Korea. The robust growth of end-use industries, such as automotive, electronics, and construction, fuels the demand for ECH. The region's growing population, urbanization, and infrastructure development contribute to market growth.
Middle East and Africa: The Middle East and Africa region exhibit a growing demand for Epichlorohydrin. Countries like Saudi Arabia, UAE, and South Africa are major contributors to market growth. The construction industry, driven by infrastructure development and urbanization, plays a significant role in the demand for ECH in this region.
Global Epichlorohydrin (ECH) Market: Impact of COVID-19
Several industries that are major consumers of ECH, such as automotive, construction, and aerospace, experienced a significant downturn during the pandemic. This led to reduced demand for ECH-based products like epoxy resins, adhesives, and elastomers. The pandemic resulted in an economic slowdown worldwide, affecting consumer spending, investment, and industrial activities. Reduced economic activities and uncertainty in the market led to a decrease in demand for ECH and its derivatives.
Many manufacturing facilities faced temporary closures or operated at reduced capacities due to lockdowns and social distancing measures. This resulted in lower production volumes of ECH and affected the overall market supply. The focus of industries and governments shifted towards healthcare and essential supplies during the pandemic, diverting attention and resources from non-essential sectors. This impacted the overall demand for ECH and its applications in industries such as coatings, electronics, and composites.
Global Epichlorohydrin (ECH) Market: Key Companies
• Aditya Birla Management Corp. Pvt. Ltd.
• Daiso Chemical (Thailand) Co. Ltd
• Hanwha Group
• Hexion Inc.
• Jiangsu Yangnong Chemical Group Co. Ltd.
• Kashima Chemical Co. Ltd.
• Olin Corp.
• OSAKA SODA CO. Ltd.
• Spolchemie AS
• Sumitomo Corp.
Global Mobile 3D Market: Regional Scope
North America
• U.S
• Canada
• Mexico
Europe
• U.K
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• Chain
• India
• Japan
• South Korea
• Australia
• Rest of Asia pacific
South America
• Brazil
• Argentina
• Rest of south America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
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