Global Epichlorohydrin Market 2017-2021
Epichlorohydrin is a colorless, toxic epoxide liquid with a pungent smell. It can be manufactured in several ways. The most preferred way of producing epichlorohydrin is by reacting propylene and chlorine through a multistep process using several reactors and separation columns. Another popular way of producing epichlorohydrin is through the conversion of glycerine into dichlorohydrin, followed by its conversion into epichlorohydrin.
Technavio’s analysts forecast the global epichlorohydrin market to grow at a CAGR of 3.72% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global epichlorohydrin market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Epichlorohydrin Market 2017-2021
Technavio recognizes the following companies as the key players in the global epichlorohydrin market: Olin, OSAKA SODA, Shandong Haili Chemical Industry, Solvay, Sumitomo Chemical, The Dow Chemical Company, and Vinythai.
Other Prominent Vendors in the market are: Aditya Birla Chemicals, Formosa Plastics, Hanwha Chemical, Hexion, Jiangsu Yangnong Chemical Group, Kashima Chemical, NAMA Chemicals, Samsung Fine Chemicals, SPOLCHEMIE, Tianjin Bohai Chemical Industries, and Triplex.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Bio-based methods replacing synthetic methods. The availability of glycerine as a byproduct from biodiesel production has influenced the development of technologies that use glycerine as a raw material to produce value-added products, such as epichlorohydrin. The conventional method used propylene and chlorine to produce epichlorohydrin. Glycerine can also be reacted with hydrochloric acid (HCl) to form an intermediate called dichlorohydrin, which can be converted into epichlorohydrin. The cost of glycerine is very high compared with propylene.”
According to the report, one of the major drivers for this market is Low cost of raw materials and labor. The cost of raw materials required for the production of epichlorohydrin is less compared with bisphenol A (BPA). Bisphenol A is synthesized by the reaction of phenol and acetone. These starting materials, phenol and acetone, are abundantly and readily available compared with the synthesis of epichlorohydrin that is produced through chlorohydrination, which is a three-step process. High temperature conditions are also required during the reaction. The labor cost is low in many regions, especially in APAC. This is because developing countries, such as China and India, have a huge population and many unemployed individuals. Thus, many individuals are willing to work for low wages.
Further, the report states that one of the major factors hindering the growth of this market is Epichlorohydrin manufacturers worldwide face stiff competition from Chinese manufacturers. China is concentrated with the presence of epichlorohydrin manufacturers. In addition, the manufacturing and labor costs are low in this country. Epichlorohydrin manufacturers worldwide face stiff competition from manufacturers in China. The mass production and export of epichlorohydrin by manufacturers in China will restrict the growth of other vendors in the market. Most of the companies will leave the market because of the stiff competition from Chinese manufacturers. In addition, vendors will be compelled to lower their export prices, which will result in low profits and restricted market growth.
Olin, OSAKA SODA, Shandong Haili Chemical Industry, Solvay, Sumitomo Chemical, The Dow Chemical Company, Vinythai, Aditya Birla Chemicals, Formosa Plastics, Hanwha Chemical, Hexion, Jiangsu Yangnong Chemical Group, Kashima Chemical, NAMA Chemicals, Samsung Fine Chemicals, SPOLCHEMIE, Tianjin Bohai Chemical Industries, and Triplex.
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