Flexible Epoxy Resin Market Future Set For Massive Growth With High Cagr In 2021
Overview:
The flexible epoxy resin market is expanding in tandem with the burgeoning paint & coating industry. Liquid in form, epoxy resins are reactive polymers and prepolymers with widespread utility in end-use categories such as building & construction, aerospace, paints & coatings, and sealants & adhesive. It adds strength to products. Among its other features, flexibility, high elongation, and low modulus can be considered vital due to which for end-users this has become important. The product can also be used as adhesive to lessen the stress generated in the bond line. The global flexible epoxy resin market can record substantial growth during the forecast period (2017-2023) due to its durability and moisture & chemical resistance among other features. Market Research Future’s (MRFR’s) report on the same market contains figurative analysis of the segments, a detailed study on growth influencers, and research on the competitive landscape for a holistic understanding of the entire market.
The flexible epoxy resin market is all set to explore its potential in various fields. Its percolation in paints & coatings, automotive, and in aerospace is unprecedented. In automobile sector, flexible epoxy resin finds use in underbody guards, mud-flaps, bumpers, ducting and sheeting, and impact panels. As a corrosion resistant, the product is getting traction from the construction sector which is witnessing significant growth due to urbanization. In addition, the flexible epoxy resin market is enjoying extensive support from verticals as a component used in electrical & electronic laminates, water borne coatings, flooring and paving, and powder coatings.
But the volatile price of the raw materials and stringent government policies regarding VOC emission can deter the flexible epoxy resin market from further growth. However, water-based solutions can steer back the market to its former course.
Segmentation:
The global flexible epoxy resin market can be segmented by type, application, and end-use industry. This would ease the understanding of the market during the forecast period.
Type-wise segmentation of the global flexible epoxy resin market includes rubber modified, urethane modified, and dimer acid.
Application-based segmentation of the flexible epoxy resin market comprises adhesives, semiconductors, primer, composites, electrical laminates, and others.
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Based on the end-user industry, the flexible epoxy resin market can be segmented into automotive, electrical & electronics, paints & coatings, military & defense, construction, and others.
Regional Analysis:
Regionally, the flexible epoxy resin market is segmented into five regions namely Asia Pacific (APAC), North America, Europe, Latin America (LATAM), and the Middle East & Africa (MEA) to provide a holistic view of the market.
The APAC market is in-charge of the global market. The region has several developing economies that are revamping their end-user industries such as paints & coatings, automotive, and construction. At the same time, regional market invasion by global behemoths can be seen as a positive sign. And as its acolyte, the flexible epoxy resin market can garner profits.
As of 2016, North America is the second largest flexible epoxy resin market. The credit can be attributed to the high demand generated by the military & defense and automotive industries.
Europe’s market is also gaining more from the robust automotive sector. But the market can experience slight slag owing to the preventive norms set by the governments.
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Competitive Landscape:
Major manufacturers in the global flexible epoxy resin market are Hexion (U.S.), Kukdo Chemical Co., Ltd. (South Korea), Olin Corporation (U.S.), Huntsman International LLC (U.S.), DIC CORPORATION (Japan), Aditya Birla Chemicals (India), Emerald Performance Materials (U.S.), Cardolite (U.S.), Atul Ltd. (India), INTERTRONICS (the U.K.), EPOXONIC (Germany), Spolchemie (Czech Republic), Conren Ltd. (U.K), Mereco Technologies (U.S.), and Resoltech (France).
In 2018, Flowcrete Australia launched terrazzo range Mondeco Rapide to provide seamless results and that too, in a much faster time. This can lessen the production time of the floor by 75%. The brand brings together the rapid curing power of methyl methacrylate (MMA) technology and polyurethane to harness its flexibility.
In 2018, RAMPF Polymer Solutions launched their high-performance epoxy resins that can be effective for automotive, energy, automation, and consumer products. These are basically electro casting resins that safeguards products against chemical and environmental influences.
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