The North America Epichlorohydrin Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 304.55 showcasing a growth of 3.0% (2019-2022).
Epichlorohydrin is a key raw material in the production of synthetic glycerin. Synthetic glycerin, in turn, is used in various industries such as cosmetics, pharmaceuticals, and food and beverages. The increasing demand for these end-use products is driving the growth of the market. Epichlorohydrin is utilized in the production of elastomers, which find applications in manufacturing hoses, gaskets, seals, and other rubber products. The unique properties of epichlorohydrin-based elastomers, such as oil resistance and flexibility, make them suitable for diverse industrial applications.
The epichlorohydrin market is experiencing expansion on a regional scale. As industries continue to manufacturers are strategically growing their production capabilities and distribution networks to cater to diverse regional industries. The versatility of epichlorohydrin extends beyond traditional applications. The market is expanding as researchers and manufacturers explore new applications for epichlorohydrin derivatives. This includes advancements in developing bio-based epichlorohydrin and novel uses in emerging industries. Diversification of applications not only broadens the market scope and mitigates risks associated with dependency on specific sectors.
The electronics industry in North America relies on epichlorohydrin-derived materials for applications such as printed circuit boards (PCBs). The demand for electronic components and devices contributes to the adopting epichlorohydrin in the region. North America has stringent regulations concerning environmental and safety standards. These aspects will boost the market growth in the coming years.
The US market dominated the North America Epichlorohydrin Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $737.3 million by 2030. The Canada market is experiencing a CAGR of 5.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5% during (2023 - 2030).
Based on Application, the market is segmented into Epoxy Resins, Water Treatment Chemicals, Synthetic Glycerin, Pharmaceuticals and Others. Based on End-Use, the market is segmented into Paints & Coatings, Composites, Wind Turbine, Construction, Electrical & Electronics, Adhesives and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Epichlorohydrin Market is Predict to reach $4.3 Billion by 2030, at a CAGR of 5.3%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Shandong Haili Chemical Co., Ltd., Daiso Chemical Co., Ltd. (OSAKA SODA CO., LTD.), Formosa Plastics Group, Hanwha Solutions Chemical Division Corporation (Hanwha Corporation), Jiangsu Yangnong Chemical Co. Ltd., Kashima Chemical Co., Ltd. (Asahi Glass Co., Ltd.), Momentive Performance Materials, Inc. (Hexion, Inc.), Solvay SA, Sumitomo Chemical Co. Ltd., The Dow Chemical Company
By Application (Volume, Kilo Tones, USD Billion, 2019-2030)
By End Use (Volume, Kilo Tones, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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