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Epoxide Global Market Report 2023
Major players in the epoxide market are Evonik Industries AG, BASF SE, Dow Chemical Company, LG Chem Ltd., Daelim Co. Ltd., Dymax Corporation, Exxon Mobil Corporation, INEOS Capital Limited, Eastman Chemical Company, UPC Technology Corporation, ADEKA CORPORATION, LANXESS Deutschland GmbH, Galata Chemicals Galata Chemicals LLC, Ashland Global Holdings Inc.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Epoxide Global Market Report 2023" - https://www.reportlinker.com/p06424015/?utm_source=GNW
, 3M Company, and H.B. Fuller Construction Products Inc.
The global epoxide market grew from $66.28 billion in 2022 to $70.08 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The epoxide market is expected to grow to $84.73 billion in 2027 at a CAGR of 4.9%.
The epoxide market consists of sales of phenoxybenzene and 2-methoxy-2-methylpropane (MTBE).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Epoxides refer to a volatile organic cyclic type of ether compound that is colorless and non-polar.The basic structure of an epoxide contains an oxygen atom attached to two adjacent carbon atoms of a hydrocarbon.
The most common epoxy resin is formed through the reaction of epichlorohydrin with bisphenol. Epoxide market consists of sales of epoxides by entities (organizations, sole traders, and partnerships) that are used to manufacture various types of products such as surfactants, adhesives, coatings, drugs, and others.
North America was the largest region in the epoxide market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the epoxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of epoxides are ethylene oxide, propylene oxide.Ethylene oxide is used to manufacture various compounds, such as solvents, antifreeze, detergents, adhesives, polyurethane foam, and medications.
Ethylene oxide is a simple epoxide or cyclic ester or organic colorless gas with a cyclic ring consisting of carbon, hydrogen, and oxygen. The different components include epoxies and hardeners that are used in coated fabric, wire and cable, flooring and wall coverings, film and sheet, medical devices, consumer goods, and other applications.
The rise in the demand for soap and soap products is expected to propel the growth of the epoxide market going forward.Soap refers to a salt of fatty acid that is used in a variety of cleansing and lubricating products.
Soap products such as detergents, gels, and others are used for washing and cleaning.Ethylene epoxide is used as a base material in the manufacturing of soaps.
This helps to increase the potential hydrogen (PH) levels in soap. For instance, according to data published by The Observatory of Economic Complexity (OEC), a Brazil-based data visualization website, soap exports have increased by 18.7% between 2019 and 2020, from $ 7.15 billion in 2019 to $ 8.49 billion in 2020. Therefore, the rise in demand for soap and soap products is driving the growth of the epoxide market.
Product innovation is a key trend gaining popularity in the epoxide market.Major companies operating in the epoxide sector are concentrating on enhancing the epoxide products such as styrene-free pure and green epoxy resins to offer long service life while reducing their carbon footprint and make the process more environmentally friendly.
For instance, in October 2022, Bossong SPA, an Italian producer of mechanical and chemical anchors launched E-Plus, an innovative bi-component styrene-free pure epoxy resin.E-Plus is earthquake resistant and a green chemical anchor designed to fulfill the requirements of the construction industry while also reducing the environmental impact.
It offers a long 100-year service life, which is twice the life of standard resins with fire resistance. It can used with wood, masonry, and concrete in various temperatures due to its ability of no shrinking.
In September 2021, Cargill Inc., a US-based Agri-business manufacturer, acquired Arkema’s epoxides business for a deal amount of $ 39 million. With this acquisition, Cargill Inc. gains access to Arkema’s epoxides facility located in Minnesota (US) and end-to-end production capabilities in bio-based plasticizers and polyols. This acquisition would allow Cargill to provide nature-derived alternatives to standard petroleum-based additives to its industrial customers. Arkema is a France-based company that provides specialty chemicals such as epoxides and others.
The countries covered in the epoxide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The epoxides market research report is one of a series of new reports that provides epoxides market statistics, including epoxides industry global market size, regional shares, competitors with an epoxides market share, detailed epoxides market segments, market trends and opportunities, and any further data you may need to thrive in the epoxides industry. This epoxide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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