ALBANY, New York, January 15, 2019 /PRNewswire/ --
The global epichlorohydrin (ECH) market is prognosticated to witness steady growth in the forthcoming years, as reported by Transparency Market Research (TMR). The global epichlorohydrin market comprises of a consolidated business ecosystem. Leading vendors in the global market are anticipated to focus on expanding their production capacities, and offer an innovative product portfolio.
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Key vendors in the global ECH market showcase a wide product offering, which caters to a diverse number of end-use industries. The vendors are also seen expanding to different geographies in order to cater to the demand in unexplored regions. Leading players in the global ECH market are seen adopting strategies such as mergers and acquisitions in order to retain their dominance. Epichlorohydrin companies, small or large, are looking for ways to penetrate into the current market and simultaneously expand into new and emerging markets to increase their sales volume. The preferred main strategy followed up by the top players in the epichlorohydrin market is increasing production capacity in the existing and new locations.
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Prominent players operating in the global epichlorohydrin market are the Dow Chemical Company, Solvay, Sumitomo Chemical Co., Ltd., Aditya Birla Chemicals, and Samsung Fine Chemicals Co. Ltd.
As reported by TMR, the global epichlorohydrin (ECH) market is likely to rise at a 3.6% CAGR over the forecast period 2015 to 2023. The market was anticipated to be worth US$ 2.56 Bn in 2014, and is likely to reach a value of US$ 3.52 Bn by 2023.
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High Demand for Water Treatment to Propel ECH Market
Epoxy resins, pharmaceuticals, water treatment chemicals and synthetic glycerin are the main application areas for epichlorohydrine. Multiple industries, including adhesives, coats and plastics are used to produce epoxy resin made from epichlorohydrine. These resins are also used in various end-use sectors to produce inks and dyes. In the cosmetics industry, synthetic glycerine is widely used in the surfactant, solvent, pharmaceutical, textile and paper sectors as well as in commercialinsecticide sectors. As applications, technological developments, and growing end user segments grow, the global Epichlorohydrin industry is experiencing high growth. ECH is used in a number of applications like such as epoxy resin, synthetic glycerin, pharmaceuticals, water treatment chemicals, and others.
Use of Bio-Based Feedstock to Emerge as Key Trend
Epichlorohydrin (ECH) has traditionally been produced by petro-driven, i.e. from propylene. But companies have begun to use glycerin, which replaces propylene slowly. Glycerine is a bio-based feedstock that can be easily obtained from the production of biodiesel. With an increase in bio-based glycerin available from biodiesel production, bio-based epichlorohydrine can also be produced. Research and development activities are undertaken to reduce the dangerous health and environmental impacts of ECH. The ECH market is also projected to increase demand from end-user industries such as paints & coatings.
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The study presented here is based on a report by Transparency Market Research (TMR) titled, "Epichlorohydrin (ECH) Market by Raw Materials (Propylene and Glycerin) for Paints & Coatings; Electronics & Electrical; Adhesives; Paper, Inks & Dyes; Textiles; Water Treatment; and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023."
The market is segmented for detailed study in the following way:
ECH Market - Raw Material Analysis
- Propylene
- Glycerin
ECH Market - End-user Analysis
- Paints & Coatings
- Electronics & Electrical
- Adhesives
- Paper, Inks & Dyes
- Textiles
- Water Treatment
- Others (Including agrochemicals, surfactants, etc.)
ECH Market - Regional Analysis
- North America
- U.S.
- Rest of North America
- Europe
- France
- U.K.
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Taiwan
- South Korea
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of MEA
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