PUBLISHER: KBV Research | PRODUCT CODE: 1397618
PUBLISHER: KBV Research | PRODUCT CODE: 1397618
The Global Epichlorohydrin Market size is expected to reach $4.3 billion by 2030, rising at a market growth of 5.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,398.03 kilo tonnes experiencing a growth of 3.6% (2019-2022).
Epichlorohydrin serves as a key intermediate in the synthesis of certain pharmaceutical compounds. It undergoes various chemical transformations to produce intermediates, crucial building blocks for synthesizing pharmaceutical drugs. Consequently, the pharmaceuticals segment would generate approximately 7.37% share of the market by 2030. Epichlorohydrin is used to produce specific polymers, such as polyvinyl alcohol (PVA) and polyethylene glycol (PEG), utilized in drug delivery systems. These polymers can be incorporated into formulations to control drug release rates, improve bioavailability, and enhance the stability of pharmaceutical compounds. Some of the factors affecting the market are growing infrastructure development and urbanization, rising sustainable practices and demand for bio-based epichlorohydrin, and rising environmental and health concerns.
Epichlorohydrin is used in producing glycerol-based concrete admixtures, contributing to improving concrete properties such as workability, strength, and durability. As urbanization leads to increased construction activities, the demand for concrete additives derived from epichlorohydrin rises. As cities expand and modernize, the epichlorohydrin market continues to play an essential role in maintaining the diverse needs of urban infrastructure projects. Furthermore, as cities expand and modernize, the market continues to play an essential role in maintaining the diverse needs of urban infrastructure projects. Due to sustainable practices and the development of bio-based epichlorohydrin play a crucial role in expanding the epichlorohydrin market.
However, Epichlorohydrin is classified as a hazardous chemical due to its toxic and corrosive nature. Accidental releases during production, transportation, or usage can adversely affect the environment, including soil and water contamination. The production and use of epichlorohydrin can lead to air emissions, potentially releasing volatile organic compounds (VOCs). Proper waste management practices are essential to prevent environmental contamination and ensure compliance with regulations. The above factors will decline the market growth.
Application Outlook
On the basis of application, the market is segmented into epoxy resins, synthetic glycerin, water treatment chemicals, pharmaceuticals, and others. The synthetic glycerin segment acquired a substantial revenue share in the market in 2022. Synthetic glycerin is commonly used in cosmetics and personal care products, including moisturizers, lotions, soaps, and skincare formulations. Its hygroscopic nature helps retain moisture, providing skin-conditioning properties. Synthetic glycerin is employed as a chemical intermediate in synthesizing various chemicals and compounds, contributing to the production of diverse industrial products. The use of epichlorohydrin in synthesizing glycerin highlights the versatility of both chemicals and their importance in supporting a range of industries with applications that contribute to daily life and industrial processes.
End Use Outlook
Based on end-use, the market is further classified into paints & coatings, wind turbine, composites, construction, electrical & electronics, adhesives, and others. In 2022, the paints & coatings segment held the highest revenue share in the market. Epoxy-based coatings and paints are known for their durability, chemical resistance, and protective qualities. They are commonly used in corrosion protection for metal flooring applications and as protective coatings for concrete structures. Using epoxy resins in coatings contributes to the longevity and integrity of surfaces exposed to harsh environmental conditions. Epoxy resins are used in specialty coatings for applications such as pipelines, tank linings, and anti-graffiti coatings. The chemical resistance, adhesion, and durability of epoxy-based formulations make them well-suited for these specialized coating applications.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region covered a considerable revenue share in the market in 2022. Specialty chemical demand is increasing due to optimism in industries with substantial chemical product demands. The United States, the largest consumer of epichlorohydrin in this region, has cautiously approached economic growth. Introducing stricter laws against epichlorohydrin in Canada will lower the demand for epichlorohydrin. Capacity expansions and capital infusion are expected to play a major role in driving the need for epichlorohydrin.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Shandong Haili Chemical Co., Ltd., Daiso Chemical Co., Ltd. (OSAKA SODA CO., LTD.), Formosa Plastics Group, Hanwha Solutions Chemical Division Corporation (Hanwha Corporation), Jiangsu Yangnong Chemical Co. Ltd., Kashima Chemical Co., Ltd. (Asahi Glass Co., Ltd.), Momentive Performance Materials, Inc. (Hexion, Inc.), Solvay SA, Sumitomo Chemical Co. Ltd., The Dow Chemical Company
Market Segments covered in the Report:
By Application (Volume, Kilo Tones, USD Billion, 2019-2030)
By End Use (Volume, Kilo Tones, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tones, USD Billion, 2019-2030)
Companies Profiled
Unique Offerings from KBV Research