Phenoxy Resins Market Forecast, Trend Analysis & Competition Tracking - Global Industry Insights 2015 to 2031

Global Phenoxy Resins Market Outlook:

"The global phenoxy resins market was valued at over US$ 80.8 Mn in 2020 and is projected to register а САGR of over 1.1% by 2031."

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From 2015 to 2020, sales of phenoxy resins have increased at a stable rate, expanding over 1.1% CAGR.

Phenoxy resins are thermosetting resins & amorphous thermoplastic polymers. Phenoxy resins can be derived from epoxy, bisphenol A & epichlorohydrin. Commercially phenoxy resins are available in various forms such as solid, liquid, dispersed in water & dissolved in a solvent. The global production of phenoxy resins is estimated at XXX – XXX KMT as of 2020.

Phenoxy resins have a wide range of applications in several industry sectors, including molded parts, inks, paints & coatings, and adhesives. Specific formulations of phenoxy resins may have enhanced properties such as increased adhesion, flexibility and chemical resistance. This factor is likely to support market growth in the coming years.

However, the recent COVID-19 pandemic has severely disrupted the entire chemicals industry. The second quarter of 2020 saw a significant gap in demand and supply. The supply of phenoxy resins and its raw materials, mainly from China, were considerably impeded due to stringent trade regulations imposed by several economies across the globe.

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Global Phenoxy Resins Market Revenue Outlook:

Despite the negative impact on the market due to the COVID-19 pandemic, the market is expected to witness several developments. In the first quarter of 2021, the demand for phenoxy resins started to register an improved growth, owing to strong demand from the chemical sector. The European region noted a tight supply due to temporary halts in the production; nonetheless, the demand from the region for phenoxy resins rebounded, owing to the recovery of the construction and automotive sector.

Market Dynamics:

Phenoxy thermosetting and phenoxy thermoplastic resins have a wide range of uses due to their excellent mechanical properties, including flexibility, toughness, adhesiveness, and cohesive strength, as well as chemical and corrosion and heat resistance. Because of their excellent adhesion properties and excellent corrosion and heat resistance, they are widely used in the automotive and aerospace industries. These essential properties of phenoxy resins are necessary for industrial applications and are expected to fuel the revenue growth for this target market.

However, the availability of alternatives such as phenolic & polyurethane resins in various applications tied with fluctuation in the raw material prices of phenoxy resins is anticipated to hinder the growth of a target market in North America.

List of End-Users of Phenoxy Resins:

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How are the recent trends shaping the industry in the coming years?

Major companies are now focusing on adopting multiple strategic policies to expand the scale of their business on a global scale. Policies such as strategic mergers & acquisitions, joint ventures, and partnerships with other companies. This is generally carried out to develop new products and expand existing product portfolios to maintain their respective market positions. This is also another factor that is expected to further improve financial development and provide revenue growth opportunities trajectory for suppliers and manufacturers across the world over the forecast period.

• In October 2019, Gabriel Performance Products, a leading chemical company in North America serving various products such as paints, coatings & adhesives, announced acquiring a portfolio of alkyd resins from another chemical company known as Deltech Resin Company.

Regional Analysis:

Asia-Pacific is expected to account for a significant share of the global phenoxy resins market. The region is also anticipated to register the highest growth rates over the forecast period. Rampant growth of end-use industries, including paints & coatings, chemicals, pharmaceuticals, electronics, packaging, and others, particularly in China and India, are expected to be the key contributing factors. The stable growth of these countries and increasing investments in chemicals projects are estimated to provide a balanced growth in the coming years.

Competitive Landscape:

The phenoxy resins market landscape appears highly consolidated, with a significant chunk of it being dominated by players with their base in Asia-Pacific.

• Nippon Steel & Sumitomo Metal Corporation
• Mitsubishi Chemical Holdings Corporation
• Merck & Co., Inc
• Hexion
• DIC Corporation
• Gabriel Performance Products LLC
• KUKDO Chemical (Kunshan) Co., Ltd.
• Georgia-Pacific (GP) Chemicals
• SHIN-A T&C
• Other Key Industry Players

Some notable developments in the market include:

• There is a shift of manufacturing base from the US and Europe to the developing countries in Asia-Pacific. This, coupled with the expanding demand from end-use industries particularly in China and India and other Asian countries, is expected to proliferate the demand for phenoxy resins over the forecast period.
• In June 2021, the Aditya Birla Group, manufacturer of epoxy resin, announced plans to increase capacity by approx. 125K ton per annum through a brownfield expansion at Gujarat, India.
• Allnex, a industrial coating resins and additives supplier, announced the formal establishment of Allnex New Materials (Jiaxing) Co., Ltd. In addition, Allnex announced the construction of an environmentally friendly high-performance resin production base to promote green innovation and meet the growing demand for high-quality coatings, resins, and additives in the Chinese and global markets.
• In January 2021, Audax Private Equity (Audax, Boston, USA) announced that it had completed the sale of Gabriel Performance Products (Akron, Ohio, USA) to Huntsman Corp. Gabriel will continue to grow and cooperate with Huntsman for Specialty additives strategically, and epoxy curing agents are provided in the end markets of coatings, adhesives and composites.

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Segments Covered

Phenoxy Resins Market, By Product Type

• Phenoxy Resins Pellet
• Water-borne Phenoxy Resins
• Solvent-borne Phenoxy Resins
• Other Product Types

Phenoxy Resins Market, By Application

• Composites
• Paint & Coatings
• Plastics
• Adhesives
• Other Applications

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