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Epichlorohydrin Market Research Report Information - by Application (Epoxy Resins, Synthetic Glycerin, Water Treatment Chemicals, and Others), By End User (Automotive, Electronics, Textiles, Pharmaceutical, Construction Industry, and Others) and by Region - Forecast till 2032

ID: MRFR/CnM/2118-HCR | 140 Pages | Author: Chitranshi Jaiswal| July 2024

Epichlorohydrin Market Overview

The epichlorohydrin market size was valued at USD 2.82 billion in 2023. The epichlorohydrin industry is projected to grow from USD 2.99 billion in 2024 to USD 4.80 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast period (2024 - 2032).

Epichlorohydrin (ECH) is a colorless, poisonous, volatile epoxide liquid with a bitter odor. Utilizing numerous reactors and separation columns, allyl chloride, chlorine, and water are combined to create epichlorohydrin. Epoxy resins, epichlorohydrin elastomers, surfactants, water treatment chemicals, and resin for paper manufacture are the main products made from epichlorohydrin.

The rising use of epoxy resins in the construction, automotive, aerospace, and other important industries is driving the product demand. Epoxies are also widely used in flooring to provide great chemical and abrasion resistance, protection from wear, and slip resistance. According to EPOXY Europe, the largest end-user segment in Europe is the construction industry, accounting for 22% of revenues for epoxy resin producers. In 2017, 93,000 tons of epoxy resin were sold to the Europe construction industry. The requirement for water treatment chemicals and ongoing expenditures in wastewater treatment infrastructure will further fuel demand for epichlorohydrin. The worldwide epichlorohydrin market will be strengthened by the increased use of epichlorohydrin-based rubber in the automotive sector. A specialized, multifunctional polymer called ECH-based rubber is used in fuel applications such as automotive fuel systems, die-cut sealing, and bladders. Another important area where ECH is used as an intermediary is synthetic glycerin. However, the market expansion will be hampered by the government's strict emission requirements and controls imposed on the manufacturing of the chemical.

Epichlorohydrin Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

COVID-19 Analysis

The COVID-19 pandemic has disrupted the world economy by stopping operations in the building, automotive, electronics, and textile sectors. Due to a workforce shortage brought on by the global lockdown, industries were forced to shut down their power plants. In addition, the supply chain disruption has decreased demand for consumer items like electrical appliances. However, since the pharmaceutical sector is the only one fully operational during this crisis, it is projected that the use of epichlorohydrin in this sector will increase demand for the product.

Competitive landscape

The major key players in the Epichlorohydrin Market are:

  • Dow Chemical Company,

  • Aditya Birla Chemicals, 

  • Formosa Plastics Corporation, 

  • NAMA Chemicals, 

  • Samsung Fine Chemicals Co. Ltd., 

  • Solvay SA.

  • Shandong Haili Chemical Industry Co. Ltd., 

  • Osaka Soda Co. Ltd.,

  • Sumitomo Chemical Co.,

  • Zachem S.A., 

These key players are highly contributing to the market, but Aditya Birla Chemicals is contributing the most. Epichlorohydrin manufacturers in India contribute highly to the market.

Covid-19 analysis

The covid-19 outbreak has affected the global economy highly, and starting from small businesses to large-scale businesses are highly affected due to this virus. The government has imposed a lockdown in many countries to fight against the virus, and social distancing has also been imposed by the government to stop the fast-spreading of covid-19. Due to this, many countries are going through shut down, and the production of products is at a halt. Due to low production in many sectors, the demand for epichlorohydrin has decreased. Further, the construction work had stopped in almost all regions as paintings and coatings contribute highly to the market that is why the epichlorohydrin market demand is hampered. The key players are trying their best to boost the market demand, but the market is expected to see growth after the post-covid-19 situation.

Market Dynamics

Market drivers

One of the major drivers in the epichlorohydrin market is the increasing demand for paints and coatings in the construction sector. Paints and coatings were responsible for the largest share of the market in 2014, and it is expected to increase more in the forecast period. The need for construction with the improvement of infrastructural growth will create a positive impact on the market in the forecast period. Apart from construction, paints and coatings are used in automobile sectors, and increasing demand for automobiles with an increasing population will boost the epichlorohydrin market size. Another major driver that is driving the epichlorohydrin market demand is the use of plastic in various industries. As plastic is one of the most used things in the globe and therefore the need for epichlorohydrin in the manufacturing of plastic is driving the epichlorohydrin market demand. The government initiatives to provide clean water and increase the need for water purification are fueling the epichlorohydrin market size. The epichlorohydrin market will see huge growth in the forecast period owing to a wide range of applications in the making of glues, glycerol, and epoxy resins.

Market opportunities

Epichlorohydrin is highly used in the construction sector for painting and coatings. And the need for infrastructural growth with the growing economy and government initiatives to provide better Infrastructure will bring opportunities to the market. People are building Residential places due to a better economic state, and it is contributing to the epichlorohydrin market size growth. With the increasing population, the automobile sectors are growing, and with it, the need for paints and coatings is also increasing. And it brings new opportunities to the epichlorohydrin market.

Market restraints

One of the major restraints is the side effects of epichlorohydrin on human health and the environment. Increasing human awareness about harmful chemicals is one of the biggest market restraints; also, in many countries, governments are putting a ban on epichlorohydrin due to environmental concerns. With the advancement of technology, many other chemicals are replacing epichlorohydrin, such as the epicerol method is replacing Traditional methods of production. And it helps to eliminate the environmental side effects. As a result, it has become a restraint for the epichlorohydrin size. Restrictions in using of epichlorohydrin due to its toxicity are hampering the market.

Market challenges

One of the biggest challenges for the market is the replacement of traditional methods with new techniques. And nowadays industry is adopting new techniques for manufacturing products that are a big challenge for the market. Growing health concerns in people is another challenge for the epichlorohydrin market. Better alternatives of epichlorohydrin that are good for the environment are one of the biggest challenges for the epichlorohydrin market. The key players are trying their best to overcome these challenges to boost the market demand in the coming years. As a result, the market is expected to grow in the forecast period.

Cumulative growth analysis

Epichlorohydrin has a wide range of applications in the manufacturing of different products. As a result, the market will grow rapidly in the forecast period. Epichlorohydrin is used to make paints, coatings, plastic, water filters, and other products, and due to the high demand for these products, the market will see huge growth in demand. The epichlorohydrin market size is expected to grow at a CAGR rate of 5% at the end of the year 2023.

Regional analysis

The major regions in the epichlorohydrin market are North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific holds the highest share in the market due to the rapid growth of population and infrastructural growth. Countries like India, Japan, and China contributing the most to the epichlorohydrin market demand growth. There are Epichlorohydrin manufacturers in India, increasing the demand of the market. Increasing demand for automotive and consumer electronics has increased the Epichlorohydrin manufacturers in India. And therefore, Asia Pacific is growing at a faster CAGR rate.

North America holds the second-highest share in the epichlorohydrin market size due to the high demand for chemical products, capital infusion, capacity expansion, and oil exploration. The US is the major contributor in this region. Just like epichlorohydrin manufacturers in India, the presence of manufacturers in the US is boosting the market in this region. The European region holds the third position in the market due to rapid growth in the automotive sectors in this region. All these regions will show rapid growth in demand in the forecast period of the market.

Recent developments

In March 2022, Grasim Industries Limited (India) and Aditya Birla Chemicals (Thailand) Pvt. Ltd said that they intended to expand its global epichlorohydrin (ECH) production capacity during Quarter 1 of 2025.

On January 3rd, 2022, Hexion Corp. announced plans to increase production of epichlorohydrin (ECH) at its Pernis, Netherlands, plant while incorporating more sustainable technology after completion. This growth plan includes a new expansion, which is part of Hexion’s overall sustainability strategy by adding another annual output of twenty-five thousand metric tons with input from biobased renewable feedstocks through glycerin-to-hydride glycerin technology and supports efforts towards energy reduction in ECH manufacturing throughout whole mix at Pernis site.

According to Nama Chemicals Company, one of the world's largest producers of ECH, scheduled periodic maintenance work within Hassad project's Subsidiary Facilities was completed successfully in October 2021. On Wednesday October 20th - plant operation will begin again! Throughout this time period for regular maintenance works, the chemical catalysts have been replaced, and many related units have been checked out, repaired and maintained as necessary. For example, it has already completed incorporating the utility unit’s chilled water system. Henceforth, on October 25th, reoperation will be stopped altogether.

DCM Shriram approved an investment worth US$133.9m (‚āĻ10bn) to develop downstream capabilities in the chemical space. The proposed investments include a hydrogen peroxide unit of 52,500 tonnes per year and an epichlorohydrin unit of 51,000 tonnes, as well as a glycerine purification facility for the Bharuch plant in Gujarat.

Report Attribute/Metric Details
  Market Size 2023   USD 2.82 billion
  Market Size 2024   USD 2.99 billion
  Market Size 2032   USD 4.80 billion
  CAGR   6.10% (2024-2032)
  Base Year   2023
  Forecast Period   2024 to 2032
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application and End-Use
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Solvay S.A. Chemicals company (Europe), Zachem SA (Europe), Samsung Fine Chemicals Co., Ltd. (Korea), Dow Chemical Company (US), Sumitomo Chemical Co. (Japan), Aditya Birla Chemicals (India), Osaka Soda Co., Ltd. (Japan), Formosa Plastics Corporation (US), Shandong Haili Chemical Industry Co. Ltd (China), NAMA Chemicals (Saudi Arabia)
  Key Market Opportunities   ECH is also using it to make cosmetics products, and explosive, and other military products.
  Key Market Drivers The paintings and coatings highly use epichlorohydrin The need for epichlorohydrin in various sectors

Frequently Asked Questions (FAQ) :

Zachem S.A., Osaka Soda Co. Ltd., Sumitomo Chemical Co., Samsung Fine Chemicals Co. Ltd., Dow Chemical Company, Aditya Birla Chemicals, Formosa Plastics Corporation, NAMA Chemicals, Shandong Haili Chemical Industry Co. Ltd are the major key players in the Epichlorohydrin market.

The major regions in the Epichlorohydrin market are North America, Europe, and the rest of the world.

The Asia Pacific holds the highest share in Epichlorohydrin.

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