Phenoxy Resins Market Trends, Share, Size, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis by Forecast 2029
The global phenoxy resins market size is expected to gain momentum owing to the rising product demand for various industrial applications during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Phenoxy Resins Market, 2022-2029.” The excellent properties like hardness, toughness, flexibility, abrasion resistance, impact resistance, heat resistance, and compatibility make it soluble in a wide variety of ketones, glycols, ethers, and esters. The stability provision on curing polyisocyanates, anhydrides, or other crossroads agents is likely to drive the market.
Supply-chain Disruption to Hamper Growth
The phenoxy resins industry is a commercial marketplace hampered by the COVID-19 pandemic, witnessing a massive stagnation in its progress across the globe. The deflated demand caused due to the imposition of lockdown and other restrictions created hurdles for primary players driving the market. The market has been substantially impacted the supply chain and is present amidst unparalleled uncertainty. Nevertheless, as restoration commences in 2021, major players are retrieving their positions through production expansions, capacity utilization, and teleshopping keeping in view the COVID-19 norms.
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Based upon the type, the phenoxy resins market bifurcates into solvent-borne phenoxy resins and waterborne phenoxy resins. On application, the market divides into adhesives, coatings, inks, composites, and plastics. Finally, by geography, the market segments into Asia-Pacific, Europe, North America, Middle East & Africa, and Latin America.
What does the Report Offer?
The market research report for phenoxy resin offers integrated information on the key drivers, constraints, and opportunities driving industry growth. The research goes on to generate data volume by component, end consumer, and demographic. Growth drivers, opportunities, challenges, restrictions, and crucial developments are among them.
Drivers & Restraints-
High Consumption in Automotive Industry to Accelerate Growth
The global phenoxy resins market growth is likely to broaden, owing to increased product requirements in the automobile industry during the projected period. Its high utilization due to the increased usage in producing efficient flexibilizers for cross-linked and epoxy formulations are likely to propel its consumption in adhesives, inks, coatings, and composites applications. The ability to sustain high temperature and pressure has tremendously increased the utilization in the automotive and packaging industry. However, the price fluctuation in the raw material prices of phenoxy resins may hinder the overall market growth.
High Sales & Volume to Foster Growth in Asia Pacific
The Asia Pacific is expected to hold the highest global phenoxy resins market share during the forecast period. The increasing product demand in the plastics industry is likely to prosper the market in this region.
North America is likely to have the second dominant market share, owing to the rapid inclination towards the waterborne phenoxy resins in the composite’s application.
Technological Innovations to Strengthen Players’ Industry Stance
Presence of dominant market participants and the primary emerging market trends; the industry has moderate to high entry barriers. The design innovations, partnerships, mergers, acquisitions, porters five forces analysis, and insights on regulatory scenarios drive the phenoxy resins industry.
October 2019: Gabriel Performance Products, a U.S.-based premium specialty chemicals company serving the coatings, adhesives, and composite end markets announced their acquisition of alkyd resins from the Deltech Resin Company. The company is willing to expand its market portfolio with the acquisition.
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List of Key Players Profiled in the Global Market for Phenoxy Resins:
- Mitsubishi Chemical
- Gabriel Performance Products
- DIC Corporation
- Kukdo Chemical
- Georgia-Pacific (GP) Chemicals
- Brenntag Asia Pacific Pvt. Ltd.
- SHOWA DENKO K.K.
- ICL Phosphate Specialty
- Merck KGaA
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