Dublin, Feb. 18, 2019 (GLOBE NEWSWIRE) -- The "HBPA Epoxy Resin Market by Physical Form (Liquid and Solid), Application (E&E Coating, Industrial Coating, and Others), and Region (APAC, Europe, North America, South America, and Middle East & Africa) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The market size of HBPA epoxy resin is estimated at USD 1.7 billion in 2018 and is projected to reach USD 2.2 billion by 2023
The growth of this market is attributed to the increase in the need to protect concrete floors in industrial and commercial facilities. Another factor driving the HBPA epoxy resin market is the growth of the power generation industry in developing countries. However, volatility in raw material prices is restraining the growth of the market. Most of the raw materials used in the production of HBPA epoxy resin are petroleum-based derivatives, which are vulnerable to fluctuations in commodity prices. The prices of these raw materials have been highly volatile in recent times, which has affected the growth of the market.
Epoxy resins are thermosetting resins, mostly produced from the reaction between epichlorohydrin (ECH) and bisphenol-A (BPA). When bisphenol A is used as an intermediate to produce epoxy resin through the hydrogenation process, it yields hydrogenated bisphenol A (HBPA) epoxy resin. The HBPA epoxy resin is cured using different kinds of curing agents to provide better shape and memory properties to the epoxy networks than the bisphenol A epoxy networks. The HBPA epoxy resin is characterized by lower viscosity and longer gelation time compared to the conventional epoxy resin. These properties enhance its weather resistance and make it an ideal material for exterior applications of E&E and industrial coatings.
The E&E coating was the largest application of HBPA epoxy resin, with a market size of USD 1.11 billion, in 2017. Liquid HBPA was the largest segment that accounted for USD 1.07 billion of market share in 2017, based on physical form. The HBPA epoxy resin market is driven by the growth of power generation industries in developing countries and an increase in the need to protect concrete floors in the industrial and commercial facilities. However, volatility in raw material prices is a major restraint for market growth. The requirement of existing power infrastructure refurbishment in developed countries is expected to provide new growth opportunities for the market players. On the other hand, the high price of industry products is a major challenge for the market.
The threat of new entrants is low because of the high initial capital investment required. Furthermore, the high price of HBPA epoxy resin and low consumer switching cost result in the high threat of substitutes; whereas, the competitive rivalry among existing players is low in the market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Introduction
4 Premium Insights
4.1 Attractive Opportunities in the HBPA Epoxy Resin Market
4.2 HBPA Epoxy Resin Market, By Physical Form
4.3 HBPA Epoxy Resin Market, By Region
4.4 APAC HBPA Epoxy Resin Market, By Application, and Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth of Power Generation Industry in Developing Countries
5.2.1.2 Increase in Need to Protect Concrete Floors in Industrial and Commercial Facilities
5.2.2 Restraints
5.2.2.1 Volatility in Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Requirement of Existing Power Infrastructure Refurbishment in Developed Countries
5.2.4 Challenges
5.2.4.1 High Price of Industry Products
5.3 Porter's Five Forces Analysis
5.4 Macroeconomic Indicator
6 HBPA Epoxy Resin Market, By Physical Form
6.1 Introduction
6.2 Liquid
6.2.1 Easy and Convenient Application of Liquid Form to Drive Its Demand in the HBPA Epoxy Resin Market
6.3 Solid
6.3.1 Wide Availability and Low Cost to Drive Its Demand
7 HBPA Epoxy Resin Market, By Application
7.1 Introduction
7.1.1 E&E Coating
7.1.1.1 Excellent Weather and Chemical Resistance of HBPA Epoxy Resin to Drive Its Demand in the E&E Coating Application
7.1.2 Industrial Coatings
7.1.2.1 Increasing Industrialization in Developing Economies to Drive the Demand for HBPA Epoxy Resin in the Industrial Coating Application
7.1.3 Others
8 HBPA Epoxy Resin Market, By Region
8.1 Introduction
8.2 APAC
8.2.1 China
8.2.1.1 China Accounted for the Largest Share of the HBPA Epoxy Resin Market in APAC
8.2.2 South Korea
8.2.2.1 Increasing Production of High-Voltage Electrical Machines in South Korea to Drive the Demand for HBPA Epoxy Resin in the Country
8.2.3 India
8.2.3.1 Increasing Urbanization and Growing Industrialization to Drive the Demand for HBPA Epoxy Resin in E&E and Industrial Coating Applications
8.2.4 Japan
8.2.4.1 Increasing Industrialization to Drive the Demand for HBPA Epoxy Resin in the Industrial Coatings Application in Japan
8.2.5 Rest of APAC
8.3 Europe
8.3.1 Germany
8.3.1.1 Germany Accounted for the Largest Share of the HBPA Epoxy Resin Market in Europe
8.3.2 Italy
8.3.2.1 E&E Coating Segment to Witness High Growth in the HBPA Epoxy Resin Market in Italy
8.3.3 France
8.3.3.1 Need for Power Generation and Distribution Infrastructure to Drive the Demand for HBPA Epoxy Resin in the E&E Coating Application in France
8.3.4 UK
8.3.4.1 Economic Reforms in the UK to Drive the HBPA Epoxy Resin Demand in E&E and Industrial Coating Applications in the Country
8.3.5 Rest of Europe
8.4 North America
8.4.1 US
8.4.1.1 The US Accounted for the Largest Share of the HBPA Epoxy Resin Market in North America
8.4.2 Canada
8.4.2.1 Rapidly Growing E&E Industry in Canada to Drive the Demand for HBPA Epoxy Resin in the Country
8.4.3 Mexico
8.4.3.1 Increasing Population and Urbanization in Mexico to Drive the Demand for HBPA Epoxy Resin in the Country
8.5 South America
8.5.1 Brazil
8.5.1.1 Strong Industrial Base in the Country is Responsible for the Large Market Share of the Country
8.5.2 Rest of South America
8.6 MEA
8.6.1 Saudi Arabia
8.6.1.1 Strengthening of the Power Distribution Network to Drive the HBPA Epoxy Resin Demand in Saudi Arabia
8.6.2 UAE
8.6.2.1 Growth in Renewable Energy Projects to Drive the HBPA Epoxy Resin Market in the UAE
8.6.3 South Africa
8.6.3.1 Government Initiatives for Restructuring the Country's Power Distribution Network to Drive the HBPA Epoxy Resin Market in South Africa
8.6.4 Rest of MEA
9 Competitive Landscape
9.1 Overview
9.2 Market Ranking
9.3 Competitive Scenario
9.3.1 Investment & Expansion
9.3.2 New Product Launch
9.3.3 Merger & Acquisition
9.3.4 Partnership
10 Company Profiles
10.1 Hexion
10.2 Atul Ltd
10.3 New Japan Chemical Company
10.4 Aditya Birla Chemicals
10.5 Kukdo Chemical
10.6 Anhui Xinyuan Chemical Company
10.7 Sir Industriale
10.8 Emerald Performance Material
10.9 Nagase America Corporation
10.10 Huntsman Corporation
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