Jun 6, 2019
Global Modified Epoxy Resins market research report: product type (water-based modified epoxy resin, solvent based modified epoxy resin), application (paints & coatings) end-user (building and construction) – Forecast till 2023
Pune, India - June 6, 2019 /MarketersMedia/ —
Modified Epoxy Resins Market Synopsis:
Market Research Future (MRFR) asserts that the global modified epoxy resins market is likely to demonstrate a stellar CAGR during the forecast period (2017-2023). The growth in the automotive and construction industries is favoring the market growth. Also termed as polyepoxides, epoxy resins are the type of reactive polymers containing epoxide groups. They are cross-linked or reacted wither with themselves or a variety of co-reactants like acids, polyfunctional amines, alcohols, thiols, and phenols. The reaction between the co-reactants and epoxy resins give rise to thermosetting polymers with enhanced mechanical properties, chemical resistance, and temperature, known as modified epoxy resin.
Competitive Dashboard:
The prominent players operating in the modified epoxy resins market comprises Olin (U.S), Nan Ya Plastic Corporation (Taiwan), Hexion (U.S), Jiangsu sanmu group Co, Ltd (China), Kukdo Chemical Co Limited (Japan), 3M (U.S), BASF SE (Germany), Aditya Birla Chemicals Ltd (India), and E. I. du Pont de Nemours and Company (U.S).
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Market Potential and Pitfalls:
Modified epoxy resins provide several properties like improved thermal shock resistance, better peel strength, and excellent resistance to corrosion. Such properties of modified epoxy resins mark its usage in several end-use industries like building and construction, automobile, marine, aerospace, and others. Modified epoxy resins extensively find its application in sealants and adhesives due to their excellent heat resistance and durability. With the burgeoning building, automotive, and construction industries in the developing countries, the modified epoxy resins market is likely to experience an upsurge.
Modified epoxy resins are also highly used in the aerospace industries owing to its high modulus, enhanced strength, and lightweight. Such factors are estimated to contribute to market growth. They also act as a binding agent in the manufacturing of polymer concrete. The low viscosity of modified epoxy resins further increases processability and a high degree of filling of the polymer concrete. This is likely to influence the market growth to a large extent. The emergence of bio-based flexible epoxy resins is considered one of the key trends in the global market.
On the contrary, strict mandates associated with the control of VOC emissions like the Environmental Protection Agency, National Emission Standards for Hazardous Air Pollutants by the US, and strict mandates for air pollution by the California Air Resources Board are some of the top barriers considered to vitiate the market growth during the appraisal period.
Global Modified Epoxy Resins Market: Segmental Analysis:
The global modified epoxy resins market has been segmented on the basis of product type, application, and end-user.
By mode of product type, the global modified epoxy resins market has been segmented into solvent-based modified epoxy resin and water-based modified epoxy resin.
By mode of application, the global modified epoxy resins market has been segmented into paints and coatings, composites, adhesives and sealants, laminates, and others. The paints & coatings sector is likely to gain prominence in the coming years. With elevating population, the demand for infrastructure such as buildings rises. The consumption of modified epoxy resins in paints and coatings due to high properties like chemical resistance, low viscosity, superior mechanical and electrical properties have contributed to its growth.
By mode of the global modified epoxy resins market has been segmented into construction, building and construction, automobile, marine, aerospace, and others.
Regional Insights:
Geographically, the modified epoxy resins market span across regions namely, North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa.
Considering the global scenario, the APAC region commands for the major share and is likely to expand at the fastest rate. The rising disposable income and the geriatric population in the developing economies are the top factors fueling the market growth in this region. The growing construction industry, especially in countries like China and India, are further triggering the demand for modified epoxy resins in the paints & coatings sector, thereby fostering the market growth. As per the Indian Brand Equity Foundation, the Indian infrastructure has experienced 33 deals from 2016-2017 which involved USD 3.49 billion. Moreover, the developing electronics sector, especially in China and Japan, are propelling its demand in this region.
North America is considered to dominate the global modified epoxy resins market owing to the presence of the top three automobile companies namely Ford, General Motors, and Fiat Chrysler. The newly elected government has brought a new wave of investment in the renovation and construction of infrastructure in Canada and the U.S. which has further triggered its demand in this region.
The European region is considered lucrative and is majorly driven by the aerospace and the automobile industry. The surging demand for composites and coatings from the automobile and aircraft manufacturers are highly contributing to the growth of the market in this region. The increased demand for paints and coatings from the construction industry is also estimated to encourage the market growth.
Industry Updates:
February 26, 2019: Shen Cai Technology has recently announced a nano-modified polyurethane epoxy resin series which is exclusively for MHHPA and MTHPA. The series comprises high mechanical performance, high glass-transition temperature, and high thermal conductivity.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Organization: Market Research Future
Address: Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/modified-epoxy-resins-market-5266
Source: MarketersMedia
Release ID: 520938
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