Global High Performance Epoxy Market – Competitive Landscape
The
fiercely competitive high-performance epoxy market appears to be
fragmented due to the presence of several large and small-scale
companies. These companies are focused on improving their market
performance and increasingly acquire promising companies to expand in
the fast-growing regions. Growing innovations in production technologies
are further intensifying the competition in the market. At the same
time, the market also demonstrates strong investment opportunities for
the market players.
Key Players:
Some of
the eminent leaders of the market include Sherwin-Williams Company,
Euclid Chemical Company, Rust-Oleum, Huntsman International LLC, V8
Floor Systems, Benjamin Moore & Co., Xtreme Engineered Floor
Systems, FORREST Technical Coatings, Simpson Strong Tie, Smooth-On,
Inc., and Zeraus Products Inc.
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Acknowledging
the kind of growth, the market witnesses currently, Market Research
Future (MRFR) in its recently published a study report asserts that the
global high performance epoxy market is forecasted to reach USD 14.9 BN
by 2022, registering a phenomenal CAGR during the review period
(2016-2022).
High performance epoxy can also be defined as
performance coating or varnish that is used to enhance the quality of a
surface making it adaptable for the different environments it is exposed
to, such as extreme heat. High performance epoxies are extensively used
in the production of aerospace & marine, automotive, and consumer
goods among others.
High performance epoxy makes an excellent
choice for a primer coat as well as a basecoat. Moreover, its additional
properties such as quick-drying forming a durable layer make these
resins highly desirable in the end-use industries. Therefore, these
high-performance epoxy resins cover a vast area of application across
automotive, aircraft and marine manufacturing industries which escalates
the market on the ascending heights.
Additionally, the
electronics sector which is considered as another key application area
of these resins fosters the market growth of high performance epoxy.
Simultaneously, vast consumption of these high-performance epoxy resins
in the manufacturing of paints, coatings & adhesives contributes to
the market growth, generating a huge demand.
On the other hand,
factors such as fluctuating prices of the raw materials required for the
production of these high-performance epoxy resins obstructs the market
growth largely. Also, the gap in the demand and supply of the raw
materials hinders the market growth, restricting the production volume.
Nevertheless,
improving economic conditions, worldwide, are expected to support the
market growth by increasing consumers’ purchasing power making luxury
items such as automotive and electronics affordable for them.
Global High Performance Epoxy Market – Segments
MRFR has segmented its analysis into three key dynamics for an easy grasp;
By Types : Resins, Adhesives, Pigments, and Solvents among others.
By End-Uses : Aerospace & Marine, Automotive, and Consumer Goods among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World.
High Performance Epoxy Market – Geographical Analysis
Globally, the Asia Pacific region accounts for the significant share in the Global High-Performance Epoxy Market.
Owing to the augmented demand from the end-user industries such as
electronics, coatings, and adhesives in India, Japan, China, and South
Korea, the market is projected to retain its dominance in the global
market during the review period.
Furthermore, the availability of
cost-competitive, skilled labor force available alongside the favorable
governmental policies, is fostering the growth of the regional market.
This also further attracts foreign investors while encouraging
manufacturers to shift their production units to the flourishing market
in the APAC.
The MEA region (the Middle East & Africa)
accounts for the second largest market for high performance epoxy,
holding a considerable market share in the global market. Increasing
demand for coatings, adhesives, composites in industries drives the
growth in the regional market. End-use sectors including marine,
automotive, and spurting Paints & Curing industry are fostering the
increase in the MEA high-performance epoxy market.
Whereas,
developed regions such as North America and Europe are expected to
witness a sluggish growth over the forecast period – 2016-2022. Factors
such as the stringent regulations against the VOC emittance during the
production of these materials impedes the market growth in these
regions.
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