The Flexible Epoxy Resin (FER) Market was estimated at USD 540.1 million in
2016 and projected to reach USD 764.0 million by 2022, at a CAGR of 6.0% during
the forecast period. In this study, 2016 has been considered as the base year,
while the forecast period has been considered from 2017 to 2022.
Browse 76
Market Data Tables and 30 Figures spread through 108 Pages and
in-depth TOC on "Flexible
Epoxy Resin Market by Type (Urethane Modified, Rubber Modified, Dimer Acid),
Application (Paints & Coatings, Composites, Adhesives), and Region - Global
Forecast to 2022".
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Hexion
(U.S.), one of the leading manufacturers of FER, adopted new product launches
as its primary growth strategy. The company operates its business through two
segments, namely, epoxy, phenolic, and coating resins and forest products
resins. It produces and supplies epoxy resins to diversified industries such as
wind turbines, boat and shipbuilding, and sports equipment. Hexion is
strengthening its foothold in the FER market through new product launches.
For
instance, in 2017, the company launched a new specialty epoxy resin system,
which will be used for styrene-free, sheet molding compound (SMC) manufacturing
of high-performance automotive composites. This product launch will help
strengthen the position of the company’s products in the market. In 2015,
Hexion launched two new products, which included epoxy resin dispersion system
and resin system. These product launches helped the company to strengthen its
position in the FER market further.
The paints & coatings application
of FERs is projected to be the largest segment of the market between 2017 and
2022, in terms of both value and volume.
The paints & coatings application
is expected to be the largest segment of the FER market during the forecast
period. As the population rises globally, the demand for related infrastructure
(such as buildings) increases. The consumption of FERs in the paints &
coatings application is high due to their superior properties, such as low
viscosity, chemical resistance, and superior mechanical and electrical
properties. These resins are commonly used in floor coating, primer,
undercoating, tank lining, waterproof coating in civil construction, and binder
coating.
Asia-Pacific is projected to be the
largest FER market between 2017 and 2022, in terms of both value and volume.
Asia-Pacific is projected to be the
largest market for FER during the forecast period. The demand for FERs is high
in the region is due to the large industrial base and high living standard of
the population. In addition to this, the increasing use of FERs in the automotive
industry and related growth in emerging economies such as India, China, and
South Korea also drives the FER market growth in the region.
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The key
players, such as Olin Corporation
(U.S.), Hexion (US), Kukdo Chemical (South Korea), Aditya Birla Chemicals (Thailand),
Huntsman Corporation (U.S.), and DIC Corporation (Japan), operating in the
FER market, adopted both organic as well as inorganic growth strategies between
2013 and 2017 to strengthen their position in the market. New product launches
was the major growth strategy adopted by the market players to enhance their
regional presence and meet the growing demand for FER in the emerging economies.
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