Some of the manufacturers operating in the global flexible epoxy resin market are Olin Corporation (U.S.), Hexion (U.S.), Kukdo Chemical Co., Ltd. (South Korea), Aditya Birla Chemicals (India), Huntsman International LLC (U.S.), DIC CORPORATION (Japan), Emerald Performance Materials (U.S.), EPOXONIC (Germany), Spolchemie (Czech Republic), Cardolite (U.S.), Atul Ltd. (India), INTERTRONICS (Oxfordshire), Conren Ltd. (U.K), Mereco Technologies (U.S.), and Resoltech (France).
The global Flexible Epoxy Resin Market is segmented by type, application, end-use industry, and region.
Various types of flexible are available in the market such as urethane modified, rubber modified, dimer acid, and others. The urethane modified epoxy resins segment is leading the market due to its high flexibility, good tensile strength, and chemical resistance. These epoxy resins are highly used for offshore applications where gas and sea water resistance is required.
The application segment includes primer, composites, adhesives, semiconductors, electrical laminates, and others. The primer segment is extensively used due to high demand from the paints & coatings industry. It is also used in decorative flooring applications for its chemical and abrasion resistance. The composites are extensively used in military & defense due to weight reduction, corrosion resistance, and part consolidation in military vehicles, military shelters and pallets, and in lightweight helmets & body armor. The adhesive application is used where reduced mechanical stress within the bond line is required, which is caused by the thermal mismatch of the bonded substrates.
The end-use industry segment consists of paints & coatings, construction, automotive, electrical & electronics, and others. The paints & coatings segment is likely to dominate the market owing to their properties such as chemical resistance, durability, abrasion resistance, and others. The product is used in construction of cladding & facades, roofing, doors & windows, and others. Various automotive parts such as mud flaps, impact panels, underbody guards, bumpers, ducting & sheeting, and others are manufactured with the help of these resins. Moreover, silicone-free thermally conductive foils, flexible printed circuit boards, and pressure sensitive electronic devices are manufactured using flexible epoxy resin.
The global flexible epoxy resin market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific dominated the global flexible epoxy resin market in 2016 on account of the high demand from the major end-use industries such as construction, paints & coatings, and automotive industries in the region.
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The high demand for these resins from the military & defense and automotive industry coupled with the rebound in construction activities in North America is projected to drive the market growth over the forecast period.
The high product demand for the manufacturing of various automotive parts in Western European countries is likely to influence the market growth.
The Latin American region is expected to grow significantly due to the growing automotive industry in the region.
The infrastructural hub present in the GCC countries is likely to drive the growth of the Middle East & Africa market.