PUBLISHER: KBV Research | PRODUCT CODE: 1397621
PUBLISHER: KBV Research | PRODUCT CODE: 1397621
The Asia Pacific Epichlorohydrin Market would witness market growth of 5.5% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 520.99 kilo tonnes, showcasing a growth of 3.7% (2019-2022).
Epichlorohydrin (ECH) is a crucial industrial chemical vital in various applications across diverse sectors. It is an organochlorine compound produced through the reaction of chlorine, propylene, and caustic soda. The versatile nature of epichlorohydrin makes it a key component in manufacturing epoxy resins, synthetic glycerin, and elastomers. Economic growth in emerging nations will lead to expanding the consumption of epoxy resin in building and construction sectors, paints and coatings, and automotive. As a result of increased employment opportunities, the rise in private and public non-residential spending is enhancing the development prospects for epoxy resins, thus benefiting the market.
Primarily, epichlorohydrin manufacturing uses propylene as a raw material. The rising penetration of bio-based products has forced manufacturers to use glycerin-based starting materials. Many corporations, including Dow Chemical Company, and Samsung Fine Chemical, have initiated the production of ECH using renewable feedstock glycerin. Historically, the production of epichlorohydrin involved a complex series of steps, with propylene serving as the initial constituent. The increased production of raw glycerin, a byproduct of biodiesel production, in conjunction with the volatile price of propylene, has sparked greater interest in processes that utilize glycerol as a raw material.
The chemical industry in Asia Pacific is diverse, with epichlorohydrin finding applications in producing various chemicals. The growth of the chemical sector contributes to the overall demand for epichlorohydrin. Various governments in the Asia Pacific region are investing heavily in infrastructure development projects. The aforementioned factors will drive the market growth in this region.
The China market dominated the Asia Pacific Epichlorohydrin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $582.7 million by 2030. The India market is registering a CAGR of 5.8% during (2023 - 2030). Additionally, The Japan market would experience a CAGR of 5.1% during (2023 - 2030).
Based on Application, the market is segmented into Epoxy Resins, Water Treatment Chemicals, Synthetic Glycerin, Pharmaceuticals and Others. Based on End-Use, the market is segmented into Paints & Coatings, Composites, Wind Turbine, Construction, Electrical & Electronics, Adhesives and Others. Based on countries, the market is segmented into China, India, Japan, South Korea, Indonesia, Australia, and Rest of Asia Pacific.
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 Tonnes, USD Billion, 2019-2030)
By End Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Companies Profiled
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