Press Release / Business / Epichlorohydrin Market by Major Players, Supply, Demand, and Market Dynamic Forces & Forecast 2023

Epichlorohydrin Market by Major Players, Supply, Demand, and Market Dynamic Forces & Forecast 2023

Epichlorohydrin Market- Analysis 
The Global Epichlorohydrin Market is predicted to grow at a 5% CAGR over the forecast period (2016-2023), states the latest Market Research Future (MRFR) report. Epichlorohydrin is a colorless, bitter smelling toxic epoxide volatile liquid. It is manufactured using water, chlorine, and allyl chloride by passing this through different separation columns and reactors. It has an odor similar to chloroform, is highly reactive and used to produce elastomers, epoxy resins and glues, plastics, and glycerol. 
Epichlorohydrin when comes in contact with water hydrolyzes to 3-MCPD, which is a carcinogen present in food. The value chain varies from petro or bio-based products all the way up to end-use applications, including pharmaceuticals, water treatment chemicals, synthetic glycerin, and epoxy resins. It is used in different manufacturing applications owing to their high resistance to chemicals and moisture and the structural rigidity it offers with regards to supporting weight as well as balancing the entire structure devoid of making any compromise on the low weight needs of contemporary design principles. 
Various factors are propelling the epichlorohydrin market growth. Some of these factors, according to the Market Research Future report, include growing demand for epoxy resins from different end-use industries including renewable energy equipment, automotive, and building and construction, and an increasing number of epoxy resin producers. 
On the contrary, new technologically advanced techniques such as Epicerol method is substituting the traditional production process of epichlorohydrin that helps in eliminating the environmental restraints deterring the epichlorohydrin market growth over the forecast period. Moreover, regulatory restrictions on the usage of epichlorohydrin in proximity to human presence may also hamper the market growth. It is slight irritant when gets into contact with the skin and is also moderately toxic. Besides, it is carcinogenic. All these factors are likely to hamper the epichlorohydrin market growth over the forecast period. 
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Key Players 
Leading players profiled in the epichlorohydrin market report include Zachem S.A., Dow Chemical Company, Aditya Birla Chemicals, Formosa Plastics Corporation, NAMA Chemicals, Shandong Haili Chemical Industry Co. Ltd., Osaka Soda Co. Ltd., Sumitomo Chemical Co., Samsung Fine Chemicals Co. Ltd., and Solvay SA. Key players are adopting several strategies to create a niche in the market such as partnerships, product launches and innovations, research and development, expansions, and more. 
August 2019: An epoxy resin containing phosphorus has been derived lately from sebacic acid, a renewable resource that has been specially formulated for applications that are flame-retardant. 
Market Segmentation
The MRFR report offers a wide segmental analysis of the epichlorohydrin market on the basis of end use and application. 
Based on application, the epichlorohydrin market is segmented into water treatment chemicals, synthetic glycerin, epoxy resins, and others. The others include adhesives, lubricants, oil emulsifiers, dyestuffs, plasticizers, ion exchange resins, water treatment resins, and elastomers. Of these, the epoxy resin segment will have the largest share in the market over the forecast period. 
Based on end use, the epichlorohydrin market is segmented into construction, pharmaceutical, textiles, electronics, automotive, and others. 
Regional Analysis
By region, the Epichlorohydrin Market report covers the latest trends and growth opportunities across Europe, the Asia Pacific, North America, Latin America, and the Middle East and Africa. Of these, the APAC region will command the market over the forecast period. This is owing to the growing need for epoxy resin, growing manufacturing sector, and increasing demand from the automotive and consumer electronics industry. China and Japan are the leading contributors in this region. Growing demand for synthetic glycerol is also adding to the market growth. 
The epichlorohydrin market in North America is predicted to have the second-largest share in the market over the forecast period. This is owing to the growing demand for chemical products, capital infusion, capacity expansion, and rising oil exploration as well as refining activities. The US is the key contributor in this region. On the contrary, the introduction of stringent laws against the use of epichlorohydrin in Canada is likely to lower its demand. 
The epichlorohydrin market in Europe is predicted to have a notable growth over the forecast period.