H1 2023: The leading producers of Epichlorohydrin in H1 2023 were Olin Corporation, Shandong Haili Chemical, and Vinythai AGC Group. In March 2023, Sinopec, started a USD 1.56 billion project to its refinery in Northern China. Epichlorohydrin, a chemical utilised in many downstream processes and other petrochemicals, will be produced as part of the upgrading. This improvement assists Sinopec to increase its production capacity and also support the Chinese economy by generating jobs and advancing the Chinese chemical sector. This project includes a 3000 thousand tonnes per annum catalytic cracker, a 700 thousand tonnes per annum gasoline hydrotreating unit, and a 100 thousand tonnes per annum epichlorohydrin unit at a few of the 12 facilities in the project. The project will be constructed alongside Sinopec's Shijiangzhuang refinery in the Hebei province of China. In H1 2023, The price of epichlorohydrin fell in the APAC region. Epichlorohydrin had a mild demand from downstream paints & coatings industry and hazy construction activities which contributed to the low prices in Asia. With a global economic slowdown and low purchase rate from USA and Europe, the market position for epichlorohydrin was gloomy throughout H1 2023. There was excessive stock levels and constant production rates. Additionally, the downward pricing of Epichlorohydrin was also supported by the low upstream crude oil prices in the Asia Pacific region.
The global Epichlorohydrin market stood at approximately 1806 thousand tonnes in 2023 and is expected to grow at a CAGR of 4.52% during the forecast period until 2034. Recently, Meghmani Finechem, one of the leading producers of Chlor-Alkali, commissioned a new plant of Epichlorohydrin at Dahej, Gujarat, India. This plant is anticipated to have an annual capacity of 50 thousand tonnes. The project is estimated to have worth INR 275 crore.
Epichlorohydrin is an epoxide and an organochlorine substance. It is a white liquid with a strong garlic-like odor. This compound is miscible with most of the polar organic solvents but only moderately soluble in water. There are three main ways to synthesize Epichlorohydrin- allyl chloride, allyl alcohol and glycerine route. However, chlorination of Propylene Acetate is the conventional method and most widely used one. The niche applications of epichlorohydrin are for the production of epoxies, fabrics, paper goods, dyes, pigments, automobile and aviation parts, biocides, cosmetic, and ion-exchange resins.
The primary market driver of the global Epichlorohydrin market industry is the Paints & Coatings industry which is utilized in industries like architecture, vehicle, aviation, and other significant industries. Additionally, its usage to manufacture epoxies which are also frequently utilized in flooring because they offer excellent chemical and abrasion resistance, wear resistance, and slip resistance, is also a significant market driver. Owing to rising construction projects, the demand of paints, coatings and epoxies are bound to hike up, which is anticipated to propel the Epichlorohydrin market in coming years. The global Epichlorohydrin market is anticipated to reach approximately 2930 thousand tonnes by 2034.
Asia Pacific is the dominating all over the world with the highest demand of Epichlorohydrin. This region accounted a market share of about 65% of the global Epichlorohydrin market in 2023. Market growth is anticipated through 2034 in countries like India, China and Japan as a result of the rising modernization, industrialization, and continuous construction projects with the additional funds from government. The second-largest market for epichlorohydrin is in Europe. Moreover, the rise in petroleum refining activities coupled with increasing demand for epoxy resins is also expected to propel market growth in these regions. China is the giant for the manufacture of Epichlorohydrin due to abundance of raw material to produce the chemical.
Based on the end-user industry, the Epichlorohydrin market is segmented into sectors such as Paints & Coatings, Electrical & Electronics, Adhesives, Water Treatment Chemicals, and Elastomers, Textiles, Paper Industries, Ion Exchange Resins & Others. Among these, Paints & Coatings industry is leading segment and accounted around 28% of the share of total Epichlorohydrin demand in 2023. This industry is anticipated to dominate the global Epichlorohydrin market owing to the growing demand of paints and varnishes with the industrial activities and construction sector. Additionally, Electrical & Electronics industry also hold noticeable market shares.
Significant players in the Global Epichlorohydrin market are Olin (Former Dow Chemical), Shandong Haili Chemical, Vinythai AGC Group, Dow Chemical, Samsung Fine Chemical, Jiangsu Yangnong Chemical Group Co. Ltd, Yihai Kerry (Wilmar), Osaka Soda (Daiso organics), Shandong Sanyue Chemical Co.,, Shandong Befar Group Ruicheng Chemical Co., Ltd., Formosa Chemicals And Fibre Corp., and Triplex Chemical (Yee Fong Chemical & Industrial Co.,).
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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The objective of the Study:
• To assess the demand-supply scenario of Epichlorohydrin, which covers the production, demand, and supply of Epichlorohydrin around the globe.
• To analyze and forecast the market size of Epichlorohydrin.
• To classify and forecast the Global Epichlorohydrin market based on end-use and regional distribution.
• To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Epichlorohydrin market.
To extract data for the Global Epichlorohydrin market, primary research surveys were conducted with Epichlorohydrin manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Epichlorohydrin market over the coming years.
ChemAnalyst calculated Epichlorohydrin demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Epichlorohydrin across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Epichlorohydrin manufacturers and other stakeholders
• Organizations, forums and alliances related to Epichlorohydrin distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Epichlorohydrin manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Epichlorohydrin market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
|
Attribute
|
Details
|
|
Market size Volume in 2023 |
1806 thousand tonnes |
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Market size Volume by 2030 |
2930 thousand tonnes |
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Growth Rate |
CAGR of 4.52% from 2024 to 2034 |
|
Base year for estimation |
2024 |
|
Historic Data |
2015 – 2023 |
|
Forecast period |
2025 – 2034 |
|
Quantitative units |
Demand in thousand tonnes and CAGR from 2024 to 2034 |
|
Report coverage |
Industry Market Size, Capacity by Company, Capacity by Location, Capacity by Process, Capacity by Technology, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape. |
|
Segments covered |
By End-Use: (Paints & Coatings, Electrical & Electronics, Adhesives, Water Treatment Chemicals, and Elastomers, Textiles, Paper Industries, Ion Exchange Resins & Others)
By Sales Channel: (Direct Sale and Indirect Sale) |
|
Regional scope |
North America, Europe, Asia Pacific, Middle East and Africa, and South America. |
|
Pricing and purchase options |
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Q1.
What was the global market size of Epichlorohydrin in terms of volume for 2023?
Ans:
The global market size of Epichlorohydrin was approximately 1806 thousand tonnes in 2023, and it is expected to soar with a CAGR of 4.52% in the forecast period.
Q2.
What are the major end-use industries of Epichlorohydrin?
Ans:
Epichlorohydrin is used in a wide range of end use industries Paints & Coatings, Electrical & Electronics, Adhesives, Water Treatment Chemicals, and Elastomers, Textiles, Paper Industries, Ion Exchange Resins & Others.
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Ans:
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