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Phenoxy resins are amorphous thermosetting resins and thermoplastic polymers. The product is derived from Bisphenol-A and Epichlorohydrin. It is categorized into solventborne and waterborne phenoxy resins. These resins are soluble in n-butanol, toluene, xylene, and propylene glycol mono-methyl ether acetate. Additionally, phenoxy resins offer excellent mechanical properties, it also provides tough flexibility, hardness, impact resistance, abrasion resistance, heat resistance, chemical resistance, compatibility, and vapor barrier properties. These properties surge its demand in adhesives, coating, inks, composites, and plastic applications.
The rising demand for phenoxy resin in various applications will aid to propel the market growth. The phenoxy resin is an efficient flexibilizers for cross-linked phenolic and epoxy formulations. Due to that, it is highly utilized in adhesives, coating, inks, and composites applications. In addition, phenoxy resin also has the ability to withstand high temperature and pressure. The rising demand for adhesive and coatings in the automotive industry coupled with increasing demand for plastic in the packaging of the products will surge the demand of phenoxy resins. Hence, increasing demand will fuel the market growth during the forecast timeline.
However, fluctuations in the raw material prices of phenoxy resins are impacting the overall demand. Hence, this is anticipated to hamper the market growth.
Key Market Driver -
The rising demand for phenoxy resins in various applications to drive the market growth.
Key Market Restraint -
Fluctuations in the raw material prices to restrict the market growth
Based on type, the phenoxy resins (CAS 26402-79-9) market is segmented into solventborne phenoxy resins and waterborne phenoxy resins. Based on application, the market is segmented into adhesives, coating, inks, composites, plastic, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the phenoxy resins (CAS 26402-79-9) market include Mitsubishi Chemical, Gabriel Performance Products, LLC, DIC Corporation, Kukdo Chemical, Georgia-Pacific (GP) Chemicals, SpecialChem, Brenntag Asia Pacific Pte. Ltd., SHOWA DENKO K.K., ICL Phosphate Specialty, and Merck KGaA.
Asia Pacific is anticipated to witness the highest growth in the phenoxy resins (CAS 26402-79-9) market. The growth is attributed to the rising adoption of the product in plastic products. The increasing use of waterborne phenoxy resins in the composite's application will fuel the market growth in Europe. In North America, the growth is due to the adoption of the solventborne phenoxy resins in the the adhesive and ink applications. The Middle East & Africa is anticipated to witness significant growth, owing to increasing product use in the coatings applications.
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