Flexible Epoxy Resins Market Trends

Growth Drivers

• Growing Residential Construction Activities- The Indian government intended that by 2022, every Indian would have a place to call home, with 10 million rural homes available by the year 2022 and 10 million urban dwellings ready by the same year. The expansion of the global market for flexible epoxy resins is predicted to be aided by the continuously growing residential construction projects. FER have been widely employed with cementitious systems and concrete. They are employed in the manufacturing of flooring, adhesives, sealants, coatings, composites, and other essential building and construction industry products. Epoxies are generally recognized for their good exceptional mechanical, heat, chemical, and electrical insulating characteristics as well as their excellent adhesion, chemical resistance, and heat resistance. Hence, their demand is growing in construction industry.

• Surge in Adoption of Eco-Friendly Epoxy Resins- Allnex, the top provider of specialty chemicals, announced the introduction of PHENODUR® PR 616/65B, a brand-new, environmentally friendly phenolic resin, in September 2022. It is utilized in high-adhesion, chemically resistant protective coatings for interior or exterior could coatings and drum linings, as well as heat-curable phenolic with epoxide or polyester resin combinations.

• Rising Investment in Construction Industry - By advancing the Gati Shakti Master Plan, the Indian government announced significant investments. The plan, which is estimated to be valued about USD 2 trillion, was introduced by the government last year with the goal of integrating project planning and execution.

• Growth in Nuclear Family Trend - In 2020, there were more than 120 million private households in Japan, with nuclear families making up more than 53% of all households.

• Upsurge in Demand for Hospitals - In India, there were reportedly about 70 thousand governmental and private hospitals in 2019. Hospitals in the private sector made up approximately 44 thousand of these, outnumbering those in the public sector.

Challenges

• Health Hazards Associated While Manufacturing Flexible Epoxy Resins – There are various harmful effect of flexible epoxy resins on human health. Asthma, skin rashes, headaches, eye damage, nausea, dizziness, slurred speech, confusion, and loss of consciousness are just a few of the negative consequences that inappropriate or non-standard use of these compounds may have on people. Epoxy that has been fully cured carries little health risks, but partially cured and liquid epoxies carry a number of dangers that must be handled as effectively as possible with precautions. Hence, this factor is estimated to hinder the growth of the market.
• Stringent Regulations Consents
• Complicated Process of Manufacturing Flexible Epoxy Resins