Overview of the hottest epoxy resin Market

2022-07-27
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Epoxy resin Market Overview

epoxy resin Market Overview

May 9, 2005

epoxy resin is an important thermosetting resin with excellent physical and mechanical properties, electrical insulation properties, chemical corrosion resistance, heat resistance and bonding properties. It is widely used in chemical industry, light industry, water conservancy, transportation, machinery, electronics, household appliances, automobile, aerospace and other industrial fields, and has a very broad development prospect

industry insiders estimate that the total production capacity of epoxy resin in the world is about 1.6 million t/a, and the production and consumption are mainly concentrated in Western Europe, the United States, Japan and Taiwan, China. Among them, the total production capacity of epoxy resin in the United States, Japan and Western Europe reached more than 1.1 million t/a, accounting for about 70% of the total production capacity of epoxy resin in the world. The main manufacturers of epoxy resin in the world are shell chemical (with a production capacity of 415000 t/a), Ciba Specialty Chemicals (239000 t/a), Dow Chemical (235000 t/a), Japan iron and steel chemical (124000 t/a) and Taiwan, China (104000 t/a). The total consumption of epoxy resin in the world is about 1.2 million t/a, and that in the United States, Western Europe and Japan is about 800000 t/a, accounting for 67% of the total consumption of epoxy resin in the world. It is estimated that by 2005, the total production capacity of epoxy resin in the world will reach 1.9 million t/a, and the consumption will reach about 1.56 million T, with an average annual growth rate of about 3.9%

last year, the epoxy resin market rebounded strongly. It is estimated that this year it will continue to grow further, the demand will remain strong, and the supply will continue to be tight. After the recession of the past few years, the demand of the United States rebounded strongly last year. It is estimated that the annual demand will increase by about 10% by the end of the year. The demand in Asia, especially in China, is particularly strong, and the European market is also growing (but lower than other regions). Therefore, this year is expected to be another growth year for epoxy resin, although the growth rate is lower than last year

last year, the cost of energy and raw materials soared, and profits were severely compressed, forcing producers to start raising prices in the second half of the year. At present, the global epoxy resin market is growing healthily, and this good market situation will continue throughout the year. Driving the overall level of experimental instruments and equipment in important fields

common in China are: the protective fence of pendulum impact testing machine; Protective net of concrete pressure testing machine; The protective cover of horizontal steel wire rope tensile testing machine has become the largest market in the world. In recent years, under the good situation of reform and opening up, China's epoxy resin industry has developed rapidly. It is predicted that the average growth of China's epoxy resin production and consumption will reach about 30%, far higher than the global growth level of 3% in the same period, becoming the main driving force for the global epoxy resin growth. In 2004, China's epoxy resin output may be close to 300000 tons, an increase of 20% over the 250000 tons of the previous year; The total consumption will approach 600000 tons, up 33% from 450000 tons last year. China's epoxy resin industry has entered a period of great development, and the industrial level is pushing to a new height

although the development rate of China's epoxy resin industry has decreased from about 30% in previous years, it still has a high growth of%. People from foreign companies pointed out that in the past years, due to the sluggish market, many new production capacities have been built in the world, but there are still new production capacities put into operation in China. Moreover, due to the strong demand for epoxy resin in various industries, China's new production capacity can be digested and absorbed by the growing demand of the market. Last year, if there was no big growth in China's demand, the global epoxy resin market would have a negative growth, which shows the large scale of epoxy resin application in China

according to industry estimates, China plans to add about 550000 t/a of epoxy resin production capacity. With the existing production capacity of 400000 t/a, it is estimated that China's epoxy resin production capacity will reach 1million t/a around 2010, accounting for about half of the global production capacity by now. At present, China has entered the ranks of the world's largest epoxy resin market and has become the world's largest epoxy resin market. Foreign companies are competing to invest and build factories in China. Statistics show that last year, the annual output of domestic epoxy resin was about 300000 tons (an increase of 15%), and the imported epoxy resin was about 230000 tons (an increase of 17.5%). Some epoxy resin plants newly built or expanded last year will be put into operation in succession this year. If these new expansion projects are put into operation as planned, China's epoxy resin production capacity will increase by about 12%. However, the domestic epoxy resin still can not meet the needs of national economic development, and it may need to import about 250000 tons to make up for the shortage

insiders pointed out that some epoxy resin companies at home and abroad are scrambling to invest and build factories in China against the background of the rapid increase in China's demand and insufficient self supply. Here are some examples

Dow Chemical Company has built an epoxy resin processing plant with a capacity of 40000 t/a in Zhenjiang, China, and a 40000 t/a unit in Zhangjiagang, both of which were put into production in 2003. In addition, the company also plans to build a 40000 t/a epoxy resin plant supporting 600000 t/a ethylene in Tianjin, which may be put into operation in 2008

NAGase co established NAGase Specialty Chemicals Co., Ltd. in August, 2003, it built an epoxy resin based adhesive and electronic material factory in Wuxi, China, with a scale of 2500t/a. It is estimated that the sales volume in the first year of operation will reach 4billion yen

in cooperation with Heilongjiang Qihua company, Dalian Qihua Chemical Co., Ltd. invested 230million yuan to build a 20000 t/a unit in Dalian Dagushan Petrochemical Development Zone, which was completed and put into operation in 2003. It is estimated that the annual sales volume is about 450million yuan

Nanyang Plastics Co., Ltd. built an 85000 t/a epoxy resin plant in Kunshan, Jiangsu Province, which was put into operation in June, 2003. Previously, the company invested NT $1.2 billion to build an 80000 t/a unit in Mailiao, Taiwan, which was put into operation in november2002

in addition, the built capacity includes: 20000 t/a built by Korea Guodu company in Kunshan, Jiangsu; 60000 t/a built by Taiwan funded Hongchang company in Guangzhou; 45000 t/a built by Taiwan capital Jiantao company in Guangzhou; 25000 t/a built by German shell in Guangzhou. These foreign-funded factories have a considerable production scale, accounting for almost half of the current epoxy resin production capacity in Chinese Mainland

epoxy resin is facing the difficulty of raw material shortage

a major problem faced by China's epoxy resin industry is the shortage of raw materials and auxiliary materials. At present, the production of bisphenol A, epichlorohydrin and curing agent in China is far from keeping up with the needs of the development of epoxy resin. If it is not solved, it will have a restrictive effect. If the domestic epoxy resin output reaches 350000 tons this year, the recent import volume of epoxy resin, bisphenol A and epichlorohydrin will increase. It is estimated that 250000 tons of epoxy resin, 20000 tons of bisphenol A and 150000 tons of epichlorohydrin will be imported in 2005

taking bisphenol A as an example, including the consumption of all its downstream products, the consumption of bisphenol A in 2003 was as high as 670000 tons, of which imports accounted for 80%. According to its quality, bisphenol A can be divided into carbon grade, epoxy grade and other categories. Foreign consumption is limited to carbon grade, while China's demand is mainly epoxy grade. In recent years, a large number of overseas epoxy grade products have been dumped in China

against the background of serious shortage of these raw materials in China, many manufacturers plan to invest and build factories in China. It is reported that the major BPA projects planned to be constructed at present include: Tianjin Petrochemical 100000 t/a, Shandong Haihua 100000 t/a, Heilongjiang Qihua 100000 t/a, Hebei Lingang 100000 t/a, and Bayer 200000 t/A. It is conservatively estimated that there will be about 300000 t/a BPA capacity increase in 5 years. The epichlorohydrin projects planned to be constructed include: Huaiyin Anbang 2.4 t/a, Qianjiang oil refining 10000 t/a, Shandong Binhua 10000 t/a, Bluestar Lanzhou 24000 t/at/a, Huatai Paper 10000 t/A. If these plans are implemented, the bulk raw materials of epoxy resin can be basically matched in China

industry insiders predicted earlier that the prices of epoxy resin, bisphenol A and epichlorohydrin are likely to rise at a high level. In addition, it is reported that since the Ministry of Commerce initiated an anti-dumping investigation on imported bisphenol A, domestic bisphenol A immediately showed a pattern of reduced volume and increased price. The anti-dumping investigation has protected the domestic bisphenol a industry to a certain extent

development trend of foreign products

at present, large foreign group companies not only pay attention to product quality, but also pay attention to the development of new products. Firstly, in terms of product quality, overseas epoxy resin products are generally of good quality, which is mainly reflected in the following aspects: first, the color of the resin is light, the liquid resin is colorless and transparent, and the solid resin is pure white; Second, the epoxy equivalent changes little; Third, the molecular weight is relatively concentrated; Fourth, the content of volatile impurities is low; Fifth, the content of hydrolyzed chlorine and Na is low. Secondly, in terms of new product development, multinational companies change their production strategies in time according to the changes of market demand. In recent years, the varieties of special resins that have been developed, popularized and applied mainly include brominated epoxy resin, bisphenol F epoxy resin, o-cresol phenolic epoxy resin, alicyclic epoxy resin and new liquid crystal epoxy resin

in the consumption structure of epoxy resin, the United States and Western Europe have the largest consumption in the coating field, both accounting for 50%; In Japan, the consumption of electronic and electrical equipment takes the first place, while that of coatings takes the second place, about 40%; China's powder coating ranks first, accounting for 40.4%, while copper clad plate, insulating materials and electrical casting materials account for 17.57%, 11.59% and 10.54% respectively. At present, the average annual growth rate of epoxy resin coatings in foreign automobile industry is about 10%. With the rapid development of automobile and related industries, there will be new breakthroughs in the demand for epoxy resin coatings and adhesives in the future

market prospect forecast

according to the analysis of people and soil in the industry, the general trend of epoxy resin development in recent years is that the market demand in Asia will continue to grow strongly, but the consumer market prospects in Europe and North America are still poor. In the long run, the annual growth rate of global epoxy resin is expected to reach 4.5% to 5%. In developed countries, such as the United States, growth is sluggish, while developing countries, especially China, are expected to achieve rapid growth

foreign market analysts pointed out that the global epoxy resin market will be stronger this year. After the strong rebound of the epoxy resin market last year, it is estimated that this year it will continue to grow, the demand will remain strong, and the supply will be tight. Last year, the cost of energy and raw materials soared, and profits were severely compressed, forcing producers to start raising prices in the second half of the year. Prices are rising and profits are recovering. If the cost of energy and raw materials is flat, profits will increase

revolution functional products company (SPP) believes that the global epoxy resin market is growing healthily, but the source of bisphenol a used in the production of epoxy resin is limited, and the supply is still tight. The person predicted that the current good market situation would continue to the whole year of this year. After the recession of the past few years, the demand of the United States rebounded strongly last year. It is estimated that by the end of the year, the demand for the whole year will be about 10% higher than that in 2003. The Asian market demand is very strong, the European market is also growing (but lower than other regions), and the demand in the United States will grow in step with industrial products. Therefore, he expects this year to be another growth year for epoxy resin, although the growth rate is lower than last year

dow epoxy products company predicted that epoxy resin will maintain a strong momentum this year. As China prepared for the Spring Festival in early February this year, the demand in Asia fell seasonally in early January. However, he pointed out that the GDP of North America, Europe and Asia is expected to grow healthily this year, so the economic foundation is still very good. For example, the demand for epoxy resin in the coating and packaging materials industry is still very strong

dow pointed out that in the past years, due to the sluggish market, many new production capacities have been built around the world. This year, only the limited new production capacity concentrated in China has been put into operation. China's new production capacity will be digested and absorbed by the growing demand of the market. It is estimated that the demand growth rate in China last year was higher than that in 2003 to implement anemia detection

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