COVID-19 impact on Cycloaliphatic Epoxy Market
- COVID-19 outbreak has affected numerous countries across the globe. Several precautionary steps have been taken, such as lockdowns, which decreased world trade and led to the closure of numerous factories and other professional activities. All these measures carried wide-ranging economic effects such as supply chain disturbance.
- A major end-user of cycloaliphatic epoxy is the construction sector. Lockdowns imposed across the world hindered construction activities. Such halt in construction created a massive demand gap for materials related to construction and infrastructure development. Moreover, closure of factories led to a rapid decline in demand in electronic applications, which in turn also restrained the cycloaliphatic epoxy market.
- The COVID-19 outbreak has directly affected the production and demand for cycloaliphatic epoxy. Industrial shutdown caused by the COVID-19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
Key Drivers of Cycloaliphatic Epoxy Market
- Cycloaliphatic epoxy has extensive applications due to its low viscosity. Major application of cycloaliphatic epoxy is in adhesive & sealant and paint & coating industries. Expansion of building and construction as well as packaging sectors is estimated to boost the demand for paints, coatings, and adhesives. Rise in demand for adhesives is projected to fuel the demand for cycloaliphatic epoxy.
- Cycloaliphatic epoxy plays an important part in the electronics and electrical industry. It is utilized in making of insulators, motors, transformers as well as semiconductors and electrical laminates. Epoxy is an important part of semiconductor packaging compounds, and expansion of the semiconductor industry, which in turn is likely to propel the cycloaliphatic market.
Restraints of Cycloaliphatic Epoxy Market
- Availability of numerous alternatives can affect the cycloaliphatic epoxy market negatively. Various types of epoxies are available in the market and different consumers use different products according to their needs. The availability of numerous alternatives is estimated to hamper the cycloaliphatic epoxy market.
Asia Pacific to Constitute Significant Share of Global Cycloaliphatic Epoxy Market
- In terms of region, the global cycloaliphatic epoxy market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is projected to offer significant opportunities for the cycloaliphatic epoxy market, as two of its major end-use sectors, construction and electronic sectors, are expanding at a considerable pace in the region. Expansion of construction and automotive sectors in India and China as well as semiconductor industry in China creates significant opportunity for the cycloaliphatic epoxy market.
- North America and Europe are also key consumers of cycloaliphatic epoxy. The market in North America and Europe is anticipated to expand at a moderate pace in the near future owing to widespread use of epoxy in these regions.
Competitive Landscape of Global Cycloaliphatic Epoxy Market
The global cycloaliphatic market is highly fragmented. Several small and medium players are offering cycloaliphatic products from different areas. Some of the key market players are as below:
- Hexion
- Gabriel
- Miller-Stephenson
- Aditya Birla chemicals
- Nantong Synasis
- Huntsman
- Nagase
Global Cycloaliphatic Epoxy Market: Research Scope
Global Cycloaliphatic Epoxy Market, by Product Type
Global Cycloaliphatic Epoxy Market, by Application
- Adhesive
- Paints and Coatings
- Electrical and electronics
- Composites
- Other
Global Cycloaliphatic Epoxy Market, by Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Cycloaliphatic Epoxy Market Introduction
- Cycloaliphatic epoxy resins are low viscosity epoxy resins, which are alternative to conventionally used bisphenol epoxy resins. Cycloaliphatic epoxy is extensively utilized in coating, adhesives, electronics, and specialty composites owing to its UV and moisture resistance, better colour and gloss finish, and excellent electrical properties.
- Cycloaliphatic epoxies are used in coatings and adhesives because of its adhesive properties. Excellent electrical and heat resistance capacity of cycloaliphatic epoxies enable them to be utilized for insulation and encapsulation of electronic and electric parts. They are employed in various products where UV resistance is required.
