The epoxy resin market share in South America is expected to increase to 22.61 thousand units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.05%.
This market in South America research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market in South America segmentation by the following:
- Application - Paints and coatings, adhesives and sealants, composites, electronic components, and others
- Geography - Brazil, Argentina, Chile, Peru, and the Rest of South America
The market in South America report also offers information on several market vendors, including 3M Co., Allnex Netherlands BV, BASF SE, Covestro AG, DuPont de Nemours Inc., Hexion Inc., Huntsman Corp., Momentive Performance Materials Inc., Olin Corp., and Spolchemie AS among others.
What will the Epoxy Resin Market Size in South America be During the Forecast Period?
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Epoxy Resin Market in South America: Key Drivers, Trends, and Challenges
The increasing demand for paints and coatings in the automotive industry is notably driving the market growth in South America, although factors such as fluctuations in the price of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the epoxy resin industry in South America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Epoxy Resin Market Driver in South America
- One of the key factors driving the market growth in South America is the increasing demand for paints and coatings in the automotive industry.
- The superior gloss, durability, and cost-effectiveness of paints and coatings make them popular among automakers.
- The adoption of strong, safe, light, and fuel-efficient vehicles is expected to rise significantly during the forecast period.
- The automobile manufacturers in South America have remained early adopters of technology, spurred by evolving consumer requirements, and the region has witnessed extensive product development activities.
- The high per capita disposable income and improved living standards in the region enable consumers to afford new technological developments and their incorporation. Such factors are driving the demand for paints and coatings, which, in turn, is expected to drive the market in South America during the forecast period.
Key Epoxy Resin Market Trend in South America
- Another key factor driving the market growth in South America is the increasing focus on bio-based and eco-friendly resins such as bioplastics driven by the emergence of renewable resources, biomass, and bio-based raw materials such as starch and other crop derivatives.
- The raw ingredients are abundant, particularly in emerging countries like Brazil, Mexico, and Argentina, resulting in substantial bioplastic manufacturing in these countries.
- South American polymer makers will be forced to create bio-based alternatives, particularly bio-based PE, due to volatile prices and limited crude oil supplies.
- The renewable nature of bio-based PE makes it an environmentally preferable alternative to chemical counterparts.
- Going by the present consumption pattern, these sources are expected to get exhausted in the next 30 to 40 years.
- New bio-based resins that reduce greenhouse gas emissions (GHG) are preferred, but the processes and products also should be time and cost-effective. This is expected to boost the research and development activities in the market in focus during the forecast period.
Key Epoxy Resin Market Challenge in South America
- One of the key challenges to the market growth in South America is the fluctuations in the price of raw materials.
- In comparison to the pricing in Q3 of FY21, South American epoxy resin prices in Q4 were on the higher end.
- On a DEL Texas basis, the prices of liquid, solid, and semi-solid resins were 15%, 10%, and 12% higher on average than the prices in Q3 of FY21.
- After the hurricane season, production only returned to normal by late October and early November, due to a scarcity of raw materials in the first half of Q4.
- Epoxy resins are costlier to produce than other types of resins because the raw materials required to manufacture epoxy resins are more expensive than other low-end resins.
- Most epoxy resins have to go through some level of regulation to ensure that they are Food and Drug Administration (FDA)-compliant and food-safe, which adds further to the cost. Such factors are expected to limit the growth of the market in focus during the forecast period.
This market in South America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technnavio categorizes the epoxy resin market in South America as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market in South America during the forecast period.
Who are the Major Epoxy Resin Market Vendors in South America?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- 3M Co.
- Allnex Netherlands BV
- BASF SE
- Covestro AG
- DuPont de Nemours Inc.
- Hexion Inc.
- Huntsman Corp.
- Momentive Performance Materials Inc.
- Olin Corp.
- Spolchemie AS
This statistical study of the market in South America encompasses successful business strategies deployed by the key vendors. The market in South America is fragmented and the vendors are deploying growth strategies such as an increase in R&D investments to compete in the market.
Product Insights and News
- 3M Co. - The company offers epoxy resin that is used in abrasives, adhesives, sealants and fillers, advanced materials, automotive parts and hardware, building materials, cleaning,supplies, coatings, communications, compounds and polishes, dental and orthodontics.
- DuPont de Nemours Inc. -The company offers epoxy resin that is used in packaging, agricultural machinery and equipment, door and window assembly, havoc manufacturing, construction material assembly, prefabricated houses, security tapes.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The market in South America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Epoxy Resin Market in South America Value Chain Analysis
Our report provides extensive information on the value chain analysis for the market in South America, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global specialty chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Epoxy Resin Market in South America?
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50% of the market’s growth will originate from Brazil during the forecast period. Argentina, Chile, and Peru are the other key markets for epoxy resin in South America. Market growth in this country will be faster than the growth of the market in other countries.
This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak severely affected major economies such as Brazil, Argentina, Chile, and Peru. The pandemic led to a temporary halt in business activities except for essential services, adversely affecting the demand for paints and coatings. However, in the second half of 2021, with the initiation of large-scale COVID-19 vaccination drives and adherence to social distancing norms, lockdowns were lifted following a gradual decrease in the number of COVID-19 cases. This led to the resumption of business operations in various end-user industries. Such factors are expected to boost the demand for epoxy resin during the forecast period.
What are the Revenue-generating Application Segments in the Epoxy Resin Market in South America?
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The epoxy resin market share growth in South America by the paints and coatings segment will be significant during the forecast period. The growth is attributed to the high demand for epoxy resin-based paints and coatings in construction (including flooring), shipbuilding, automotive, infrastructure, and home appliances manufacturing industries.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size in South America and actionable market insights on post COVID-19 impact on each segment.
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Epoxy Resin Market Scope in South America |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.05% |
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Market growth 2022-2026 |
22.61 th units |
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Market structure |
Fragmented |
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YoY growth (%) |
3.73 |
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Regional analysis |
South America |
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Performing market contribution |
Brazil at 50% |
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Key consumer countries |
Brazil, Argentina, Chile, Peru, and Rest of South America |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
3M Co., Allnex Netherlands BV, BASF SE, Covestro AG, DuPont de Nemours Inc., Hexion Inc., Huntsman Corp., Momentive Performance Materials Inc., Olin Corp., and Spolchemie AS |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Epoxy Resin Market in South America Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive market growth in South America during the next five years
- Precise estimation of the market size in South America and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the epoxy resin industry in South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of market vendors in South America
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