Epoxide Global Market Report 2022: Ukraine-Russia War Impact
Major players in the epoxide market are Evonik Industries AG, BASF SE, Dow Chemical Company, LG Chem Ltd, Daelim Co. Ltd, Dymax Corporation, Exxon Mobil Corporation, INEOS Capital Limited, Eastman Chemical Company, UPC Technology Corporation, ADEKA CORPORATION, LANXESS Deutschland GmbH, Galata Chemicals Galata Chemicals LLC, Ashland Global Holdings Inc, 3M Company, and H.
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Epoxide Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06371427/?utm_source=GNW
B. Fuller Construction Products Inc.
The global epoxide market is expected to grow from $ 60.96 billion in 2021 to $ 65.62 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The epoxide market is expected to reach $ 76.51 billion in 2026 at a CAGR of 3.9%.
The epoxide market consists of sales of epoxides by entities (organizations, sole traders, and partnerships) that are used to manufacture various types of products such as surfactants, adhesives, coatings, drugs, and others.Epoxides refer to a volatile organic cyclic type of ether compound that is colorless and non-polar.
The basic structure of an epoxide contains an oxygen atom attached to two adjacent carbon atoms of a hydrocarbon. The most common epoxy resin is formed through the reaction of epichlorohydrin with bisphenol.
The main types of epoxides are ethylene oxide, propylene oxide.Ethylene oxide is used to manufacture various compounds, such as solvents, antifreeze, detergents, adhesives, polyurethane foam, and medications.
Ethylene oxide is a simple epoxide or cyclic ester or organic colorless gas with a cyclic ring consisting of carbon, hydrogen, and oxygen. The different components include epoxies and hardeners that are used in coated fabric, wire and cable, flooring and wall coverings, film and sheet, medical devices, consumer goods, and other applications.
North America was the largest region in the epoxide market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the epoxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in the demand for soap and soap products is expected to propel the growth of the epoxide market going forward.Soap refers to a salt of fatty acid that is used in a variety of cleansing and lubricating products.
Soap products such as detergents, gels, and others are used for washing and cleaning.Ethylene epoxide is used as a base material in the manufacturing of soaps.
This helps to increase the potential hydrogen (PH) levels in soap. For instance, according to data published by The Observatory of Economic Complexity (OEC), a Brazil-based data visualization website, soap exports have increased by 18.7% between 2019 and 2020, from $ 7.15 billion in 2019 to $ 8.49 billion in 2020. Therefore, the rise in demand for soap and soap products is driving the growth of the epoxide market.
Technology innovation is a key trend gaining popularity in the epoxide market.Major companies operating in the epoxide sector are concentrating on enhancing the epoxide product production techniques by using electricity and biodegradable materials to reduce their carbon footprint and make the process more environmentally friendly.
For instance, in 2019, the Massachusetts Institute of Technology’s chemical engineers invented a new method for manufacturing epoxides that employs electricity to power the reaction, and it can be performed at room temperature and atmospheric pressure without emitting carbon dioxide as a by-product. This method reduces this energy use and related emissions.
In September 2021, Cargill Inc, a US-based Agri-business manufacturer, acquired Arkema’s epoxides business for a deal amount of $ 39 million. With this acquisition, Cargill Inc. gains access to Arkema’s epoxides facility located in Minnesota (US) and end-to-end production capabilities in bio-based plasticizers and polyols. This acquisition would allow Cargill to provide nature-derived alternatives to standard petroleum-based additives to its industrial customers. Arkema is a France-based company that provides specialty chemicals such as epoxides and others.
The countries covered in the epoxide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The epoxides market research report is one of a series of new reports that provides epoxides market statistics, including epoxides industry global market size, regional shares, competitors with an epoxides market share, detailed epoxides market segments, market trends and opportunities, and any further data you may need to thrive in the epoxides industry. This epoxide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06371427/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001