#COVID 19 impact on HBPA Epoxy Resin market

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The market size of HBPA epoxy resin is estimated to be USD 1.7 billion in 2018 and is projected to reach USD 2.2 billion by 2023, at a CAGR of 5.1%, between 2018 and 2023. One of the major restraints of the HBPA epoxy resin market is the volatility in raw material prices. The primary raw materials of HBPA epoxy resin are epichlorohydrin and bisphenol A. These are petroleum-based derivatives and are vulnerable to fluctuations in commodity prices. 

Owing to its low viscosity and excellent weatherability, HBPA epoxy resin is an excellent solution for external coating applications such as electrical casting and electrical laminates in high-voltage electrical machines such as transformers, generators, motors, switch gears, and circuit breakers. Therefore, an increase in the consumption of electrical and electronic machines on a commercial scale also drives the demand for HBPA epoxy resin. However, their high production cost results in the high price of HBPA epoxy resin, which is almost double than that of conventional epoxy resins. Therefore, manufacturers are looking for alternative methods of using epoxy resin along with aliphatic polyurethane to attain the properties of HBPA epoxy resin.  

APAC is estimated to be the largest market for HBPA epoxy resin owing to its high consumption in E&E and industrial coating applications in the region. The HBPA epoxy resin coating provides thermal transfer, chemical resistance, and dimensional stability to the electrical products owing to its excellent adhesion and mechanical properties. Population growth and rapid industrialization are leading to an increase in demand for power generation and distribution infrastructure, which, in turn, drives the demand for HBPA epoxy resin coating in the E&E application.

The key players in the HBPA epoxy resin market include Hexion (US), Atul Chemicals (India), New Japan Chemical Company (Japan), and Aditya Birla Chemicals (India). 

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HBPA Epoxy Resin Market Overview, Industry Top Manufactures, Market Size, Opportunities and Forecast 2027

The market report on the HBPA Epoxy Resin Market shows lucrative growth opportunities in the HBPA Epoxy Resin industry during the next five-year period and ensures more information regarding the market trends. The following detail is the summary of extensive market research conducted by researchers at Stratview Research, a market research firm.

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The present report will give an overview of the challenges, dynamics, growth factors, and key market players in the HBPA Epoxy Resin Market.

HBPA Epoxy Resin Market Forecast:

The HBPA Epoxy Resin Market is forecasted to grow at a rate of 4.7% CAGR during the period of 2022-2027. The Market will be experiencing an escalation in demand attributed to the growing usage of HBPA Epoxy Resin in the market.

The HBPA Epoxy Resin Market growth depends upon several factors which have direct or indirect influence on the demand. The report published by Stratview Research has the summary of such factors derived using several market analysis methods including but not limited to supply chain analysis. These methods help in analysing the strength of the companies and identify gaps as well as opportunities to lay out a successful roadmap which leads to higher profitability.

Key Players in the HBPA Epoxy Resin Market

Here are the top linchpins in the market

Aditya Birla Chemicals

Anhui Xinyuan Chemical Co. Ltd.

Atul Ltd.

Emerald Performance Materials LLC

Hexion Inc.

Huntsman Corporation

Kukdo Chemical Co. Ltd.

Nagase America Corporation

New Japan Chemical Co. Ltd.

SIR Industriale SpA

Others.

Growth drivers and Market Value:

This report, from Stratview Research, studies the HBPA Epoxy Resin Market value and growth drivers over the trend period of 2022-27. According to the report -

HBPA epoxy resin market is likely to witness an impressive CAGR of 5.2% during the forecast period. The major driver that is contributing to the demand for HBPA epoxy resins is mainly the growing power generation industry, especially in developing countries and increasing number of industrial & commercial facilities with the rising need to protect their concrete floors.

Segment Analysis:

Based on Form Type:

Based on the form type, the market is segmented as liquid HBPA epoxy resin and solid HBPA epoxy resin. The liquid HBPA epoxy resin segment held the larger share of the market in 2021, and is expected to register a higher CAGR during the forecast period. Easy application of it in flooring, adhesives, and wind power applications is driving the demand.

Based on Region:

In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing market for HBPA epoxy resins during the forecast period, with China, India being the major countries with lucrative growth opportunities. The demand for power generation and distribution is growing with urbanization and industrialization in these countries. Increasing awareness of public and government initiatives towards renewable energy development are expected to further drive the HBPA epoxy resin market in the coming years.

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HBPA Epoxy Resin Market Segmentation:

The report segments based upon demographics, geographics, benefits and volume etc, have different driving factors and classifies the most-attractive segments and sub-segments. The segmentation has been done in such a way that it will not only help the users to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.

COVID-19 IMPACT Analysis on the HBPA Epoxy Resin Market

The Covid-19 pandemic has influenced every one of the organizations, little or large, dealing in any sector. Our market analysts monitoring the situation across the globe explain that the market will generate productive possibilities for manufacturers post COVID-19 crisis. The report aims to provide a further illustration of the present scenario, economic slowdown, and COVID-19 impact on the overall industry.

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com or call us at +1-313-307-4176.