Global BPA-free Epoxy Resins Market: Overview
Most epoxy resins are manufactured from Bisphenol A (BPA). These resins are employed in the manufacture of different products that are used in daily life. Epoxy resins are used in various industrial and consumer applications owing to their exceptional characteristics such as chemical resistance, strong adhesion, and toughness. BPA-free Epoxy Resins can also be engineered with special properties depending upon their end-use applications. Common uses of epoxy resins include paints and coatings employed in the transportation sector, food packaging and containers, adhesives in repairing, and craft and arts. Epoxies can stick to wood, metal, glass, stone, and some plastics, and are more heat and chemical resistant than most glues.
BPA-free Epoxy Resins can leach from products when they come in contact with hot or acidic materials and strong detergents. This is especially harmful to the human body as BPA in human body mimics the function of the female sex hormone estrogen. Several studies have shown the adverse effects of BPA, especially on infants and children. Various legislations are being placed on the usage of BPA-based epoxy resins in applications where human contact is exceptionally high. As a result, manufacturers are developing epoxy resins based on the substitutes available for BPA.
Global BPA-free Epoxy Resins Market: Drivers & Restraints
BPA-free epoxy resins can be used in different forms: liquid and solid. BPA-free Epoxy Resins can be dissolved in solvents (water and organic). Paints & coatings is the major application segment of the market. It accounts for more than 45% share of their total consumption. Other prominent applications are adhesives, electrical & electronics, and manufacturing. Most epoxy resins are classified as commodities, while others are classified as specialties that are used in high-performance applications such as composites for aerospace and industrial adhesives for automotive.
Global BPA-free Epoxy Resins Market: Key Segments
Based on end-use application, the BPA-free Epoxy Resins Market can be segmented into paints & coatings, adhesives, electrical & electronics, manufacturing, food packaging, and others.
Water-based epoxy paints are quick to dry and offer high-strength protective coating. BPA-free Epoxy Resins are especially suitable for applications involving cast aluminum, cast steel, and cast iron due to their low volatility. Powdered coatings are used in household appliances. Epoxy coatings provide corrosion resistance to food cans and containers; and steel pipes and fittings for liquid transport purposes.
Corrosion resistance is an essential quality required in food packaging, particularly for containers with acidic foods. These coatings exhibit exceptional adhesion to metals, enable long shelf lives of food products, do not cause changes in flavor, and are compatible with various food substances.
Epoxy resins are used in the manufacture of various master models, molds, castings, laminates, fixtures, and other industrial products. BPA-free Epoxy Resins are also used for producing plastic food containers such as lunch boxes, hard plastic baby bottles, and sippy cups. Innovations in plastic food packaging application has been a landmark moment for the development of BPA-free epoxy resins.
BPA-free epoxy resins can be used as electrical insulators in the electronics industry. BPA-free Epoxy Resins Market provide protection against dust, moisture, and short circuiting of electrical components. BPA-free Epoxy Resins are employed in switchgears, transformers, and motors and generators.
Global BPA-free Epoxy Resins Market: Regional Outlook
In terms of geography, the BPA-free Epoxy Resins Market can be divided North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Key global players have well-established presence across North America and Europe. The market in Asia Pacific is expected to develop at a higher rate, due to the capacity expansions in China and South Korea. Europe dominates the global BPA-free epoxy resins market in terms of demand. It is followed by North America. Several manufacturers are innovating and developing their products portfolio based on end-user industry requirements. Requirement of technical expertise and formulation of skills for the development of BPA-free resin lead to high entry barriers to the market.
Global BPA-free Epoxy Resins Market: Key Players
Key players operating in the BPA-free epoxy resins market include Olin Corporation, Eastman Chemical Company, BASF SE, and Huntsman Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.