Quarterly Update on Global Epoxy Resin Market
For the Quarter Ending September 2020
Epoxy Resin supply in the Asian countries remained tight due to some planned and unplanned outages in some production units. Increase in demand as several downstream units resumed construction projects after a considerable lift in lockdown restrictions paved the way for better producer’s margins. The price of Epoxy Resin showed a declined trend in September and was assessed to be USD 2640 per tonne This decline in price is attributed to soften in demand from construction sector and paints & coatings industries across the Asian countries.
Epoxy Resin production in the region remained stable during Q3 owing to normalized operations by manufacturers across the region. Sturdy demand for Epoxy Resins from various end-user industries during Q3, buoyed by better construction and auto activity bolstered the market sentiments. Also, the overall production remained sufficient to meet the regional demand despite disruption in import volumes in Q3. Spolchemie A.S., one of the leading manufacturers of Epoxy Resin in Czech Republic announced shut down of its production plants in Q3 with delayed resumption of one of its unit.
The North American Epoxy Resin market witnessed stable supply during Q3 on account of usual imports from the Asian countries. Ample supply has impacted the overall product prices which eased on account of low-priced imports from the countries like China. The US Epoxy resin price were settled around USD 3011 per tonne during the quarter ending September. Downstream automotive and construction segments showed quick revival from the pressured dynamics but slowed demand from the aerospace still bothered some regional producers who preferred to maintain a wait-and-see stance.
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ChemAnalyst gathers information through primary research surveys conducted with various Epoxy Resin manufacturers, spread across the domestic and international markets, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of the company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.
Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Epoxy Resin market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.
Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.
Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Epoxy Resin market.
Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on weekly, monthly, and yearly basis.
Finally, region-specific markets for Epoxy Resin are analyzed and region-wise demand pattern is tracked.
Epoxy Resin is a long chain of molecular structure with reactive sites of epoxy groups at either end which is similar to vinyl ester possessing ester group instead of epoxy groups. The absence of ester group in the Epoxy Resin makes it water resistant in nature, the property suitable for various applications such as electronics, automotive, adhesives and others. While the major demand of Epoxy Resins comes from its use in paints & coatings and other flooring applications across the construction sector across the globe. It is commonly produced by mixing Bisphenol-A (BPA) and Epichlorohydrin (ECH) to create the basic monomer unit of epoxy resin which is then cured by process called curing or hardening.