Major players in the epoxy 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, 3M Company, and H.
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Epoxide Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06371427/? utm_source=GNW
B. Fuller Construction Products Inc.
The global epoxy market is expected to grow from $60.96 billion in 2021 to $65.62 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupts the chances of global economic recovery after the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on several countries, large increases in commodity prices, and supply chain disruptions, affecting many markets around the world. The epoxy market is expected to reach $76.51 billion by 2026 at a CAGR of 3.9%.
The epoxy market consists of the sale of epoxy by entities (organizations, sole traders, and partnerships) that are used to manufacture various products such as surfactants, adhesives, coatings, drugs, and others. colorless and non-polar ether compound.
The basic structure of an epoxy has an oxygen atom attached to two carbon atoms adjacent to a hydrocarbon. The most common epoxy resin is formed through the reaction of epichlorhydrin and bisphenol.
The main types of epoxy are ethylene oxide, propylene oxide. Ethylene oxide is used to manufacture various compounds, such as solvents, antifreeze, detergents, adhesives, polyurethane foam, and medicine.
Ethylene oxide is a simple epoxide or cyclic ester or colorless organic gas with a cyclic ring containing carbon, hydrogen and oxygen. Different components include epoxies and hardeners that are used in coated fabrics, wires and cables, flooring and wall coverings, films and sheets, medical devices, consumer goods, and other applications.
North America was the largest region in the epoxy market in 2021. Asia-Pacific is expected to be the fastest growing region in the forecast period.
Regions covered in the Epoxy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in demand for soap and soap products is expected to propel the growth of the epoxy market forward. Soap refers to a single fatty acid that is used in a variety of cleaning products and lubricants.
Soap products such as detergents, gels, and others are used for washing and cleaning. Ethylene epoxy is used as a basic material in the manufacture of soap.
This helps increase the potential hydrogen (PH) level of soap. For example, according to data published by the Observatory of Economic Complexity (OEC), a data visualization website based in Brazil, soap exports increased by 18.7% between 2019 and 2020, from $7.15 billion in 2019 to $8.49 billion dollars in 2020. Therefore, the increase in demand for soap and soap products will drive the growth of the epoxy market.
Technological innovation is a key trend gaining popularity in the epoxy market. Major companies operating in the epoxy sector are focused on improving epoxy production techniques using electricity and biodegradable materials to reduce their carbon footprint and make the process more environmentally friendly.
For example, in 2019, chemical engineers at the Massachusetts Institute of Technology invented a new method for manufacturing epoxy that uses electricity to power the reaction, and it can be done at room temperature and atmospheric pressure without emitting carbon dioxide as a by-product. This method reduces this energy use and related emissions.
In September 2021, Cargill Inc, a US-based agribusiness manufacturer, purchased Arkema’s epoxy business for $39 million. With this acquisition, Cargill Inc. access to Arkema’s epoxy facility located in Minnesota (US) with end-to-end production capabilities of bio-based plasticizers and polyols. This acquisition would allow Cargill to provide its industrial customers with nature-derived alternatives to standard petroleum-based additives. Arkema is a company based in France that provides specialty chemicals such as epoxy and others.
The countries covered in the epoxy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The Epoxy market research report is one of a series of new reports that provide statistics on the Epoxy market, including global market size of the Epoxy industry, regional shares, competitors and Epoxy market share, detailed Epoxy market segments, market trends and opportunities. , and any other data. you may need to thrive in the epoxy industry. This Epoxy Market research report provides a comprehensive perspective of everything you need, and an in-depth analysis of the current and future scenario of the industry.
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