BPA-free Epoxy Resins Market Introduction:
- 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 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 substitutes available for BPA.
Key Drivers of BPA-free Epoxy Resins Market
- Rise in usage of BPA-free epoxy resins in various applications is expected to boost the market during the forecast period. BPA-free 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 & art. Epoxies can stick to wood, metal, glass, stone, and some plastics, and are more heat and chemical resistant than most glues.
- Increase in adoption of BPA-free epoxy resins by paint and coating manufacturers is expected to propel the market during the forecast period. Manufacturers of paints and coatings prefer BPA-free coatings due to enforcement of strict regulations by governmental and non-governmental organizations for minimizing the use of BPA coatings. This is projected to boost the consumption of BPA-free coatings during the forecast period. Additionally, the estrogenic nature of BPA-based coatings can lead to genetic disorders for living beings. This is expected to encourage manufacturers to produce BPA-free coatings during the forecast period. Production of BPA-free coatings is driven by innovations in the use of oleoresinous enamel and PET laminate technology. This is augmenting the global BPA-free epoxy coatings market during the forecast period.
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Restraints of Global BPA-free Epoxy Resins Market
- Dearth of universal directives pertaining to applications of BPA-free epoxy resins is likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of BPA-free epoxy resins. Companies find it difficult to meet these country-wise directives and legislations. This can discourage investment in the BPA-free epoxy resins market, thereby adversely affecting the market.
- Lack of awareness and less adoption of BPA-free epoxy resins in many developed and underdeveloped countries is projected to restrain the market during the forecast period
COVID-19 impact on BPA-free Epoxy Resins Market
- The COVID-19 outbreak is hampering the demand for BPA-free epoxy resins in many applications. Many governments across the globe have enforced lockdown to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this is adversely affecting the demand for BPA-free epoxy resins.
- Key players operating in the BPA-free epoxy resins market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these materials.
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Asia Pacific to Hold Major Share of BPA-free Epoxy Resins Market
- 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 result in high entry barriers in the market.
Prominent Players in Global BPA-free Epoxy Resins Market
Major players operating in the BPA-free epoxy resins market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- Olin Corporation
- Eastman Chemical Company
- BASF SE
- Huntsman Corporation
- PPG Industries, Inc.
- Akzo Nobel N.V.
- Koninklijke DSM N.V.
- Du Pont De Nemours and Company
- Wacker Chemie AG
- Altana AG
- Allnex Group
- BASF SE
- Bostik SA
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Global BPA-free Epoxy Resins Market, by End-user
- Paints & Coatings
- Adhesives
- Electrical & Electronics
- Manufacturing
- Food Packaging
- Others
Global BPA-free Epoxy Resins Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Companies in the BPA-free Epoxy Resins market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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