Increasing adoption of BPF Epoxy Resin by the automotive and Construction industry is anticipated to boost the BPF Epoxy Resin market during the forecast period. BPF Epoxy Resin Market is forecast to reach $231.6 million by 2025, after growing at a CAGR of 4.9% during 2020-2025.
The BPF Epoxy Resins market is growing at a significant rate as the construction and automotive industry are embracing BPF Epoxy Resins. Liquid BPF epoxy resins are used in a broad range of applications such as coatings, civil engineering, adhesives, electrical insulating materials, and reactive intermediates. In particular, the liquid resins have a low viscosity so that they excel in their workability and mold ability, which makes them ideal for many applications. Thus reducing the handling cost.
Adhesive bonding technology is a revolutionary core technology in a wide range of industries today-and its ability is still not completely exploited. Moreover, expansion of facility, investment in R&D, and setting up of new production facility will further augment the market of adhesives which in turn will drive up the demand and consumption of liquid BPF epoxy resin.
APAC holds a major share of BPF Epoxy Resin market due to an increase in number of passenger cars and construction activities in emerging economies such as China, India, Japan, and so on. The epoxy resin market is dominated by the APAC region where China is the major producer and consumer globally. The robust increase in construction and automotive industry in APAC has increased the demand for paints and coatings in the region. Resulting in higher demand for architectural and industrial paints and coatings. The use of automotive paints is directly related to the production of automobiles, in particular passenger cars and two-wheelers. Increased vehicle interior applications and rising demand for Automated Manual Transmission are boosting the market for specialty coatings.
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BPF Epoxy Resin Market Growth Drivers:
Robust Rise in Construction and Automotive Industry:
APAC as a whole is set to continue to be one of the largest and fastest growing construction markets globally. Large and more developed markets such China, India, Japan, and South Korea are expected to grow more in the coming years. The strong and healthy growth in construction sector is associated with growing population and middle class economy, which tend to drive global residential construction market further and hence the BPF Epoxy Resin market. Residential application segment is witnessing growth due to the rising penetration from untapped markets. First-mover advantage in untapped regions and relatively low acquisition costs remain key driving forces in this application market.
Adoption of BPF Epoxy Resin across various industry verticals:
Bisphenol F Epoxy Resin are currently used in or are candidates for use in various consumer product applications. BPF epoxy resin are being used to line food and beverage cans and lids and others are used in thermal paper and other paper products. Increased use of some of these compounds is expected with declining use of BPA in certain applications.
A study has been underway in which bisphenol-F epoxy resin has chemoreological and mechanical properties of epoxy resin systems consisting of two components which includes diglycidil ether of bisphenol-F (DGEBF) and aliphatic diamine as a curing agent for use in superconducting magnet impregnation. Other formulations of diglycidil ether of bisphenol-A (DGEBA) unmodified resin are also studied and their properties are compared to those of the two system components.
The Major Players in this Market Include
The major companies in the BPF Epoxy Resin market include Olin Corporation, Hexion Inc, Aditya Birla Chemicals, Huntsman Corporation, DIC Corporation and others. In 2020, Allnex a supplier of specialty chemicals announced that the company will launch PHENODUR® PR 616/65B, a new, eco-friendly phenolic resin recommended for interior and exterior can coatings with a very low free formaldehyde value of < 0.1%. The product contains neither Bisphenol-A nor Bisphenol-F and has very low free monomer content. PHENODUR PR 616/65B can be used in combination with high molecular weight polyester in BPA-NI application or with high molecular weight epoxy resins for rigid and flexible packaging and drum lining. The continuous developments in the BPF Epoxy Resin are the major factors set to augment the BPF Epoxy Resin market during 2019-2025.
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