Transparency Market Research has released a new market report titled “Epichlorohydrin (ECH) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023” According to the report, the global epichlorohydrin market was valued at US$ 2.56 Bn in 2014 and is anticipated to reach US$ 3.52 Bn by 2023, expanding at a CAGR of 3.6% between 2015 and 2023.
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Epichlorohydrin (ECH) is an organochlorine compound due to presence of both epoxy and chlorine elements. Owing to features such as chiral nature and presence of strong epoxy bond, it is moderately soluble in water and miscible in polar solvents. ECH is employed in the manufacture of epoxy resins and glues, plastics, glycerols, and elastomers. ECH is manufactured using glycerin or propylene as raw materials. ECH is further processed with nitrate to manufacture solvents, fumigants, propellants and binders for explosives. ECH and polymers are used in paper reinforcement and food & beverages industries. ECH is employed in water purification process as well as in the manufacture of coffee filters, teabags, etc.
Additionally, it is also used as a crosslinking agent in the manufacture of various other chromatographic resins. ECH is applied in the form of alkyd resins in the paints & coatings industry. It is used in the manufacture of synthetic glycerin, which is further applied in cellophane and meat casings, cosmetics, explosives, and other military products. ECH based resins are primarily used for filtration and purification processes in the water treatment industry. Other end-user industries that employ ECH include surfactants and detergents. These end-user industries are estimated to expand at a significant CAGR during the forecast period.
In terms of revenue, paints & coatings accounted for majority share of the global ECH market in 2014. This trend is projected to continue during the forecast period owing to high demand of paints & coatings from construction and automobile industry. In 2014, water treatment was the fastest expanding end-user segment of the ECH market in terms of revenue. High growth rate of water treatment segment was ascribed to the increasing demand of ECH from the Middle East & Africa and Europe. In 2014, electronics & electrical held nearly one third share of the global ECH market in terms of revenue owing to the significant contribution from Japan. In terms of volume, propylene fulfilled majority of the raw material demand for ECH market in 2014. However, bio-based glycerin which is a by-product of bio-diesel is projected to be the fastest growing raw material segment owing to its lower cost. In 2014, Europe was leading producer of the bio-based glycerin due to the bulk volume produced in Germany.
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Research and development activities are being conducted to reduce the hazardous effects of ECH on human health and environment. Furthermore, increase in the demand from end-user industries such as paints & coatings is projected to propel the ECH market. Key players operating in the ECH market include Sumitomo Chemical Co., Ltd., Solvay, Aditya Birla Chemicals (Thailand) Ltd., Osaka Soda Co., Ltd., Spolchemie A.S., Shandong Haili Chemical Industry Co. Ltd (Haili), Samsung Fine Chemicals Co. Ltd, The Dow Chemical Company, Jiangsu Yangnong Chemical Group Co., and Hexion Inc. The ECH market is consolidated; the top players are concentrating on strategic mergers and portfolio enhancement to maintain their market share.
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