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
[98 Pages Report] 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, at a CAGR of 5.1%, between 2018 and 2023. The HBPA epoxy resin market is driven by the growth of the power generation industry 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.
By physical form, the liquid segment is expected to be the larger segment in the HBPA epoxy resin market during the forecast period.
On the basis of physical form, the HBPA epoxy resin market has been categorized into liquid and solid segments. Liquid form is the larger and faster-growing segment in the HBPA epoxy resin market. It is easy to apply and mainly used in flooring, adhesives, and wind power applications. It is the most widely used resin as it caters to almost every application.
The E&E application is projected to be the faster-growing segment in the HBPA epoxy resin market, during the forecast period.
On the basis of application, the HBPA epoxy resin market has been segmented into E&E coating, industrial coating, and others. E&E coating is the larger and faster-growing application of HBPA epoxy resin. Owing to its excellent physical properties, HBPA epoxy resin is mainly used as a coating material for high-voltage electrical machines to protect these from external weather conditions and prevent the yellowing of their surfaces. The population growth and rapid industrialization lead to an increase in demand for power generation and distribution infrastructure, which, in turn, drives the demand for HBPA epoxy resin coating in the E&E application.
APAC is projected to be the largest market, during the forecast period.
On the basis of region, the HBPA epoxy resin market has been segmented into APAC, Europe, North America, Middle East & Africa, and South America. APAC is projected to register the highest growth in the global HBPA epoxy resin market during the forecast period. The demand for HBPA epoxy resin is high in developing economies, such as China and India. The growing urbanization and industrialization are leading to an increase in demand for electricity to fulfill the needs of industrial, commercial, and residential sectors. The rise in demand for power generation and distribution leads to an increased requirement for HBPA epoxy resin in the E&E coating application in these countries. Government initiative for developing renewable energy infrastructure is also fueling the market growth in the APAC region.
Key Market Players
The key players profiled in this report include Hexion (US), Atul Chemicals (India), New Japan Chemical Company (Japan), Aditya Birla Chemicals (India), Kukdo Chemicals (South Korea), Anhui Xinyuan Chemical Company (China), SIR Industriale (Italy), Emerald Performance Material (US), Nagase America Corporation (US), and Huntsman Corporation (US).
These companies have adopted various organic as well as inorganic growth strategies between 2012 and 2018 to strengthen their positions in the market. Investment & expansion was among the key growth strategies adopted by these leading players to enhance their regional presence and meet the growing demand for HBPA epoxy resin from emerging economies.
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Report Metric |
Details |
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Years considered for the study |
20162023 |
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Base year |
2017 |
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Forecast period |
20182023 |
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Units considered |
Value (USD) and Volume (Kiloton) |
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Segments |
Physical Form, Application, and Region |
|
Regions |
North America, APAC, Europe, the Middle East & Africa, and South America |
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Companies |
Total 10 major players covered: |
This research report categorizes the HBPA epoxy resin market based on physical form, application, and region.
On the basis of physical form, the HBPA epoxy resin market has been segmented as follows:
- Liquid
- Solid
On the basis of application, the HBPA epoxy resin market has been segmented as follows:
- E&E Coating
- Industrial Coating
- Others (adhesives, sealants, and composites)
On the basis of region, the HBPA epoxy resin market has been segmented as follows:
- Europe
- North America
- APAC
- Middle East & Africa
- South America
Recent Developments
- In June 2016, Hexion Inc. expanded its R&D facility. A new analytical laboratory was added to its technology & business center in Stafford, Texas. The expansion caters to the increasing demand for chromatography, spectroscopy, rheology, microscopy, and materials in Hexion's epoxy, phenolic, and coating resins and forest products divisions.
- In August 2013, Aditya Birla Chemical expanded its epoxy resin manufacturing plant capacity in Gujarat, India. This expansion helped the company fulfill the epoxy resin demand in India.
- In August 2013, Kukdo Chemicals expanded its epoxy resin plant capacity in Kunshan (South Korea). With this expansion, the factory was expected to reach an annual production capacity of 120,000 tons. The company is aiming to fulfill the epoxy resin requirement of China.
Critical questions the report answers:
- Are there any upcoming hot bets for the HBPA epoxy resin market?
- How are the market dynamics for different types of HBPA epoxy resin?
- What are the upcoming opportunities for different types of HBPA epoxy resin in emerging economies?
- What are the significant trends in the end-use industries that are influencing the HBPA epoxy resin market?
- Who are the major manufacturers of HBPA epoxy resin?
- What are the factors governing the HBPA epoxy resin market in each region?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Stakeholders
2 Research Methodology (Page No. - 16)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions and Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Executive Summary (Page No. - 24)
3.1 Introduction
4 Premium Insights (Page No. - 27)
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 (Page No. - 30)
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 Porters Five Forces Analysis
5.3.1 Bargaining Power of Buyers
5.3.2 Bargaining Power of Suppliers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicator
6 HBPA Epoxy Resin Market, By Physical Form (Page No. - 37)
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 (Page No. - 39)
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 (Page No. - 43)
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 Countrys Power Distribution Network to Drive the HBPA Epoxy Resin Market in South
Africa
8.6.4 Rest of Mea
9 Competitive Landscape (Page No. - 73)
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 (Page No. - 78)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
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
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
11 Appendix (Page No. - 92)
11.1 Discussion Guide
11.2 Knowledge Store: Marketsandmarkets Subscription Portal
11.3 Available Customizations
11.4 Related Reports
11.5 Author Details
List of Tables (69 Tables)
Table 1 Trends and Forecast of GDP Per Capita (USD)
Table 2 HBPA Epoxy Resin Market Size, By Physical Form, 20162023 (USD Million)
Table 3 HBPA Epoxy Resin Market Size, By Physical Form, 20162023 (Kiloton)
Table 4 HBPA Epoxy Resin Market Size, By Application, 20162023 (USD Million)
Table 5 HBPA Epoxy Resin Market Size, By Application, 20162023 (Kiloton)
Table 6 HBPA Epoxy Resin Market Size, By Region, 20162023 (USD Million)
Table 7 HBPA Epoxy Resin Market Size, By Region, 20162023 (Kiloton)
Table 8 APAC: By Market Size, By Country, 20162023 (USD Million)
Table 9 APAC: By Market Size, By Country, 20162023 (Kiloton)
Table 10 APAC: By Market Size, By Application, 20162023 (USD Million)
Table 11 APAC: By Market Size, By Application, 20162023 (Kiloton)
Table 12 China: By Market Size, By Application, 20162023 (USD Million)
Table 13 China: By Market Size, By Application, 20162023 (Kiloton)
Table 14 South Korea: By Market Size, By Application, 20162023 (USD Million)
Table 15 South Korea: By Market Size, By Application, 20162023 (Kiloton)
Table 16 India: By Market Size, By Application, 20162023 (USD Million)
Table 17 India: By Market Size, By Application, 20162023 (Kiloton)
Table 18 Japan: By Market Size, By Application, 20162023 (USD Million)
Table 19 Japan: By Market Size, By Application, 20162023 (Kiloton)
Table 20 Rest of APAC: By Market Size, By Application, 20162023 (USD Million)
Table 21 Rest of APAC: By Market Size, By Application, 20162023 (Kiloton)
Table 22 Europe: By Market Size, By Country, 20162023 (USD Million)
Table 23 Europe: By Market Size, By Country, 20162023 (Kiloton)
Table 24 Europe: By Market Size, By Application, 20162023 (USD Million)
Table 25 Europe: By Market Size, By Application, 20162023 (Kiloton)
Table 26 Germany: By Market Size, By Application, 20162023 (USD Million)
Table 27 Germany: By Market Size, By Application, 20162023 (Kiloton)
Table 28 Italy: By Market Size, By Application, 20162023 (USD Million)
Table 29 Italy: By Market Size, By Application, 20162023 (Kiloton)
Table 30 France: By Market Size, By Application, 20162023 (USD Million)
Table 31 France: By Market Size, By Application, 20162023 (Kiloton)
Table 32 UK: By Market Size, By Application, 20162023 (USD Million)
Table 33 UK: By Market Size, By Application, 20162023 (Kiloton)
Table 34 Rest of Europe: By Market Size, By Application, 20162023 (USD Million)
Table 35 Rest of Europe: By Market Size, By Application, 20162023 (Kiloton)
Table 36 North America: By Market Size, By Country, 20162023 (USD Million)
Table 37 North America: By Market Size, By Country, 20162023 (Kiloton)
Table 38 North America: By Market Size, By Application, 20162023 (USD Million)
Table 39 North America: By Market Size, By Application, 20162023 (Kiloton)
Table 40 US: By Market Size, By Application, 20162023 (USD Million)
Table 41 US: By Market Size, By Application, 20162023 (Kiloton)
Table 42 Canada: By Market Size, By Application, 20162023 (USD Million)
Table 43 Canada: By Market Size, By Application, 20162023 (Kiloton)
Table 44 Mexico: By Market Size, By Application, 20162023 (USD Million)
Table 45 Mexico: By Market Size, By Application, 20162023 (Kiloton)
Table 46 South America: By Market Size, By Country, 20162023 (USD Million)
Table 47 South America: By Market Size, By Country, 20162023 (Kiloton)
Table 48 South America: By Market Size, By Application, 20162023 (USD Million)
Table 49 South America: By Market Size, By Application, 20162023 (Kiloton)
Table 50 Brazil: By Market Size, By Application, 20162023 (USD Million)
Table 51 Brazil: By Market Size, By Application, 20162023 (Kiloton)
Table 52 Rest of South America: By Market Size, By Application, 20162023 (USD Million)
Table 53 Rest of South America: By Market Size, By Application, 20162023 (Kiloton)
Table 54 MEA: By Market Size, By Country, 20162023 (USD Million)
Table 55 MEA: By Market Size, By Country, 20162023 (Kiloton)
Table 56 MEA: By Market Size, By Application, 20162023 (USD Million)
Table 57 MEA: By Market Size, By Application, 20162023 (Kiloton)
Table 58 Saudi Arabia: By Market Size, By Application, 20162023 (USD Million)
Table 59 Saudi Arabia: By Market Size, By Application, 20162023 (Kiloton)
Table 60 UAE: By Market Size, By Application, 20162023 (USD Million)
Table 61 UAE: By Market Size, By Application, 20162023 (Kiloton)
Table 62 South Africa: By Market Size, By Application, 20162023 (USD Million)
Table 63 South Africa: By Market Size, By Application, 20162023 (Kiloton)
Table 64 Rest of MEA: By Market Size, By Application, 20162023 (USD Million)
Table 65 Rest of MEA: By Market Size, By Application, 20162023 (Kiloton)
Table 66 Investment & Expansion, 20122018
Table 67 New Product Launch, 20122018
Table 68 Merger & Acquisition, 20122018
Table 69 Partnership, 20122018
List of Figures (30 Figures)
Figure 1 HBPA Epoxy Resin Market: Research Design
Figure 2 Bottom-Up Approach HBPA Epoxy Resin Market: Bottom-Up Approach
Figure 3 HBPA Epoxy Resin Market: Top-Down Approach
Figure 4 Liquid Form to Account for Larger Share in the HBPA Epoxy Resin Market
Figure 5 E&E Coating Application Held the Largest Share in the HBPA Epoxy Resin Market in 2017
Figure 6 APAC Accounted for Highest CAGR in the HBPA Epoxy Resin Market in 2017
Figure 7 Significant Growth Projected in the Market Between 2018 and 2023
Figure 8 Liquid Form Projected to Be the Faster-Growing Segment
Figure 9 E&E Coating to Be the Largest Application in the HBPA Epoxy Resin Market
Figure 10 India to Account for the Highest CAGR Between 2018 and 2023
Figure 11 E&E Coating Was the Largest Application in the Region
Figure 12 Driver, Restraints, Opportunities, and Challenges in the HBPA Epoxy Resin Market
Figure 13 Crude Oil Price (USD/Barrel) Between 2014 and 2019
Figure 14 HBPA Epoxy Resin Market: Porters Five Forces Analysis
Figure 15 Liquid HBPA Epoxy Resin to Account for the Larger Market Share
Figure 16 E&E Coating to Be the Largest Application Segment of HBPA Epoxy Resin Market
Figure 17 APAC to Lead the Market During the Forecast Period
Figure 18 HBPA Epoxy Resin Market in India to Register the Highest CAGR During the Forecast Period
Figure 19 APAC: HBPA Epoxy Resin Market Snapshot
Figure 20 Europe: HBPA Epoxy Resin Market Snapshot
Figure 21 North America: HBPA Epoxy Resin Market Snapshot
Figure 22 Companies Adopted Investment & Expansion as the Key Growth Strategy
Figure 23 Market Ranking of Key Players
Figure 24 Hexion: Company Snapshot
Figure 25 Hexion: SWOT Analysis
Figure 26 Atul Ltd: Company Snapshot
Figure 27 Atul Ltd: SWOT Analysis
Figure 28 New Japan Chemical Company: Company Snapshot
Figure 29 Huntsman Corporation: Company Snapshot
Figure 30 Huntsman Corporation: SWOT Analysis
The study has involved four major activities in estimating the current market size of HBPA epoxy resin. Exhaustive secondary research was carried out to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methodologies were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources, such as Hoovers and Bloomberg BusinessWeek, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, and databases.
Primary Research
The HBPA epoxy resin market comprises several stakeholders, such as raw material suppliers, distributors of HBPA epoxy resin, plastic and resin associations, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market consists of manufacturers of motors, generators, transformers, automotive components, and home appliances; whereas the supply side consists of HBPA epoxy resin manufacturers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the HBPA epoxy resin market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the market were identified through extensive secondary research.
- The industrys supply chain and market size, in terms of value and volume, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size-using the market size estimation processes explained abovethe market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. Data was triangulated by studying various factors and trends from both, the demand and supply sides.
Objectives of the Study:
- To define, describe, and forecast the HBPA epoxy resin market, in terms of value and volume
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, challenges, and opportunities)
- To analyze and forecast the market by physical form and application
- To forecast the size of the market with respect to five regions, namely, North America, Europe, APAC, Middle East & Africa, and South America along with their key countries
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To analyze competitive developments, such as new product launch, investment & expansion, partnership, and merger & acquisition in the market
- To strategically profile key players and comprehensively analyze their market shares and core competencies
*Core competencies of companies are determined in terms of their key developments, SWOT analysis, and key strategies adopted by them to sustain in the market.
Available Customizations:
MarketsandMarkets offers customizations according to the specific needs of the companies along with the market data. The following customization options are available for this report:
Product Analysis
- A product matrix that provides a detailed comparison of the product portfolio of each company
Regional Analysis
- Further breakdown of the Rest of APAC HBPA epoxy resin market
Company Information:
- Detailed analysis and profiles of additional market players.
Growth opportunities and latent adjacency in HBPA Epoxy Resin Market