Epichlorohydrin Market Size, Share, Opportunities, And Trends By Application (Epoxy Resins, Synthetic Glycerin, Water Treatment Chemicals, Others), By End-Use Industry (Pharmaceutical, Automotive, Textiles, Electronics, Others), And By Geography - Forecasts From 2023 To 2028

Epichlorohydrin is a colorless chemical compound used in the process of manufacturing epoxy resins, synthetic glycerin, water treatment chemicals, and other applications across different industries including pharmaceutical, automotive, textile, and electronics. Epoxy resin and synthetic glycerin manufacturing companies are the major consumers of epichlorohydrin. In addition, the growing demand for epichlorohydrin from the textile, inks, petrochemical, and paper industries is anticipated to contribute to the expansion of the epichlorohydrin market over the forecast period.

Market Drivers

• The rising demand for epoxy resins

The rise in demand for epoxy resins across a wide range of industries including renewable energy applications, building and construction, food packaging, automotive manufacturing aerospace, and sports equipment is creating an opportunity for the expansion of the epichlorohydrin market as the majority of the epichlorohydrin manufactured is in its application of transformation into bisphenol A diglycidyl ether, which is a fundamental component used to produce epoxy resins. The construction and building sector is the major contributor to the rise in demand for epoxy resins for manufacturing paints, coatings, flooring, plumbing, piping, and adhesive applications to be used across different construction and development projects. For instance, the German government announced in 2021 its intention to build approximately 1.5 million homes by the end of the year. Further, the Indian government as part of its Smart Cities Mission announced in 2021 declared that it will be investing a total of US$1400 billion out of which 16% will be used for developing urban infrastructure. Therefore, the rise in construction and infrastructure development projects in several major economies is increasing the demand for epichlorohydrin to generate epoxy resins.

• Increasing consumption of synthetic glycerin

The growth in consumption of synthetic glycerin in the pharmaceutical, personal care, and food & beverage is another driver promoting the growth of the epichlorohydrin market since synthetic glycerin production is the second largest consumer of epichlorohydrin applications. Synthetic glycerin is employed as a preservative and solvent in the personal care and pharmaceutical industries to increase smoothness and lubrication. The moisturizing and other various skin health benefits offered by glycerin are increasing its adoption in skin care products in the personal care goods industry. For instance, Vow Beauty introduced a new toner integrated with glycerin in July 2022. Therefore, the rising demand for synthetic glycerin will increase epichlorohydrin consumption to manufacture the demanded glycerin over the forecast period.

However, the ill effects of epichlorohydrin could restrain the growth of the market.

The workers and employees working in the epichlorohydrin manufacturing plants stand at risk of developing certain health hazards. The inhalation and indigestion of epichlorohydrin result in damaging respective internal organs while the contact of epichlorohydrin with skin has a corrosive effect on the skin. In addition, the European Chemicals Agency has declared epichlorohydrin as a possible carcinogenic. Consequently, the Occupational Safety and Health Administration has laid down regulations limiting the exposure of epichlorohydrin among workers to 5 ppm daily which restrains the production of epichlorohydrin by leading companies.

Product Offerings

• Epichlorohydrin by Olin Epoxy –Olin Epoxy Company manufactures epichlorohydrin as a part of its chemical intermediary product line. The average annual production of epichlorohydrin by Olin Epoxy from its manufacturing units in Germany and the US amounts to a higher amount than 450,000 metric tons, which makes it one of the leading manufacturers of epichlorohydrin in the world. 
• Epichlorohydrin by Hanwha Chemical – Hanhwa Chemical is a South Korean chemical manufacturing company that produces epichlorohydrin under its Hanhwa Solutions Chemical Division in the chlor-alkali form intended to be used for manufacturing paper strengthening additives and epoxy resins.
• Epichlorohydrin by Ashland Inc. – Ashland Inc. is a major international chemical and specialty solutions-producing company in the US that produces liquid epichlorohydrin under its Crepetrol and Kymene brands to be used for producing epoxy resins and glycerol. 

Asia Pacific region contributes majorly to the epichlorohydrin market and is expected to remain steady over the forecast period.

The epichlorohydrin market in the Asia Pacific region is promoted by the increasing consumption of paints and coatings in developed and developing Asian economies. In many metropolitan areas across China, India, and other developing nations, there is a significant demand for residential development projects due to the expanding urban population density and rapid urbanization rates. For instance, according to data from the World Bank, India's urban population steadily increased from 465 million in 2018 to 498 million in 2021. Further, the National Infrastructure Pipeline, which has the primary objective of supporting infrastructure development projects across several urban areas in the nation by investing approximately amount of Rs 111 lakh crores, was introduced by the Ministry of Finance department of the Government of India in September 2021. Therefore, the growth in the usage of paints and coatings in the construction industry becomes inevitable due to the increase in infrastructure development projects. The existence of large paint-producing businesses like Asian Paints and Nippon Paints in the region is expected to stimulate the growth of the epichlorohydrin market in the region as epichlorohydrin is frequently used in paint and coating manufacturing processes that employ epoxy resins.

In addition, North America is expected to witness significant growth in the consumption of epichlorohydrin in its textile industry as epichlorohydrin is used to change the carboxyl groups in wool in the textile industry. The epichlorohydrin-processed woolen garment has enhanced moth resistance. Furthermore, protein-modified, wool-like fibers with an affinity for acid dyes and resistance to mold and insects can be manufactured using epichlorohydrin. Fibers made of polyolefin, polyacrylonitrile, polyvinyl chloride, polyvinyl alcohol, and other materials are prepared and dyed using epichlorohydrin. Moreover, it prepares anti-static compounds, textile sizings, and anti-wrinkle agents employed across textile industries. Therefore, the increasing applications of epichlorohydrin in the textile industry of North American countries are anticipated to drive the growth of the epichlorohydrin market over the forecast period in the region.

Key Market Segments:

• By Application
  • Epoxy Resins
  • Synthetic Glycerin
  • Water Treatment Chemicals
  • Others
• By End-User Industry
  • Pharmaceutical
  • Automotive
  • Textiles
  • Electronics
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Taiwan
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. EPICHLOROHYDRIN MARKET ANALYSIS, BY APPLICATION

5.1. Introduction

5.2. Epoxy Resins

5.3. Synthetic Glycerin

5.4. Water Treatment Chemicals

5.5. Others

6. EPICHLOROHYDRIN MARKET ANALYSIS, BY END-USER INDUSTRY

6.1. Introduction

6.2. Pharmaceutical

6.3. Automotive

6.4. Textiles

6.5. Electronics

6.6. Others

7. EPICHLOROHYDRIN MARKET, BY GEOGRAPHY

7.1. Introduction 

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. France

7.4.3. United Kingdom

7.4.4. Spain

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. UAE

7.5.3. Israel

7.5.4. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. India

7.6.4. South Korea

7.6.5. Indonesia

7.6.6. Thailand

7.6.7. Taiwan

7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES

9.1. Olin Epoxy

9.2. Hanwha Chemical

9.3. Formosa Plastics

9.4. Sigma Aldrich

9.5. Sumitomo Chemical Co., Ltd

9.6. Ashland Inc.

9.7. Solvay

9.8. Aditya Birla Chemicals

9.9. Meghmani Finechem Ltd.

9.10. Samsung Fine Chemical

Olin Epoxy

Hanwha Chemical

Formosa Plastics

Sigma Aldrich

Sumitomo Chemical Co., Ltd

Ashland Inc.

Solvay

Aditya Birla Chemicals

Meghmani Finechem Ltd.

Samsung Fine Chemical