Market Overview:
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.
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.
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, detailed study on growth influencers, and research on the competitive landscape for a holistic understanding of the entire market.
Top 15 Manufacturers:
- Hexion
- Kukdo Chemical Co., Ltd.
- Olin Corporation
- Huntsman International LLC
- DIC CORPORATION
- Aditya Birla Chemicals
- Emerald Performance Materials
- Cardolite
- Atul Ltd.
- INTERTRONICS
- EPOXONIC
- Spolchemie
- Conren Ltd.
- Mereco Technologies
- Resoltech
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Detailed Segmental Analysis:
The global flexible epoxy resin market is segmented by type, application, end-use industry, and region.
Various types of flexible are available in the market such as urethane modified, rubber modified, dimer acid, and others. The urethane modified epoxy resins segment is leading the market due to its high flexibility, good tensile strength, and chemical resistance. These epoxy resins are highly used for offshore applications where gas and sea water resistance is required.
The application segment includes primer, composites, adhesives, semiconductors, electrical laminates, and others. The primer segment is extensively used due to high demand from the paints & coatings industry. It is also used in decorative flooring applications for its chemical and abrasion resistance. The composites are extensively used in military & defense due to weight reduction, corrosion resistance, and part consolidation in military vehicles, military shelters and pallets, and in lightweight helmets & body armor. The adhesive application is used where reduced mechanical stress within the bond line is required, which is caused by the thermal mismatch of the bonded substrates.
The end-use industry segment consists of paints & coatings, construction, automotive, electrical & electronics, and others. The paints & coatings segment is likely to dominate the market owing to their properties such as chemical resistance, durability, abrasion resistance, and others. The product is used in construction of cladding & facades, roofing, doors & windows, and others. Various automotive parts such as mud flaps, impact panels, underbody guards, bumpers, ducting & sheeting, and others are manufactured with the help of these resins. Moreover, silicone-free thermally conductive foils, flexible printed circuit boards, and pressure sensitive electronic devices are manufactured using flexible epoxy resin.
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Geographical Market Summary:
The global flexible epoxy resin market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific dominated the global flexible epoxy resin market in 2016 on account of the high demand from the major end-use industries such as construction, paints & coatings, and automotive industries in the region.
The high demand for these resins from the military & defense and automotive industry coupled with the rebound in construction activities in North America is projected to drive the market growth over the forecast period.
The high product demand for the manufacturing of various automotive parts in Western European countries is likely to influence the market growth.
The Latin American region is expected to grow significantly due to the growing automotive industry in the region.
The infrastructural hub present in the GCC countries is likely to drive the growth of the Middle East & Africa market.
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