Epoxy Resin Market in South America by Application and Geography - Forecast and Analysis 2022-2026
- Published: Feb 2022
- Pages: 120
- SKU: IRTNTR72272
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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:
- Inbound logistics
- Outbound logistics
- Marketing and sales
- Support activities
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.
Epoxy Resin Market Scope in South America
Growth momentum & CAGR
Accelerate at a CAGR of 4.05%
Market growth 2022-2026
22.61 th units
YoY growth (%)
Performing market contribution
Brazil at 50%
Key consumer countries
Brazil, Argentina, Chile, Peru, and Rest of South America
Leading companies, Competitive strategies, Consumer engagement scope
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
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
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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1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key finding 2
Exhibit 03: Key finding 3
Exhibit 04: Key finding 5
Exhibit 05: Key finding 6
Exhibit 06: Key finding 7
2. Market Landscape
2.1 Market ecosystem
2.1.1 Parent Market
Exhibit 07: Parent market
Exhibit 08: Market characteristics
2.2 Value chain analysis
2.2.2 Inbound logistics
2.2.4 Outbound logistics
2.2.5 Marketing and sales
2.2.6 Support activities
3. Market Sizing
3.1 Market definition
Exhibit 09: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 10: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 - 2026
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 12: South America - Market size and forecast 2021 - 2026 (thousand tons)
Exhibit 13: South America market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 14: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 15: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 16: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 17: Threat of new entrants
4.5 Threat of substitutes
Exhibit 18: Threat of substitutes
4.6 Threat of rivalry
Exhibit 19: Threat of rivalry
4.7 Market condition
Exhibit 20: Market condition - Five forces 2021
5. Market Segmentation by Application
5.1 Market segments
The segments covered in this chapter are:
- Paints and coatings
- Adhesives and sealants
- Electronic components
Exhibit 21: Application - Market share 2021-2026 (%)
5.2 Comparison by Application
Exhibit 22: Comparison by Application
5.3 Paints and coatings - Market size and forecast 2021-2026
Exhibit 23: Paints and coatings - Market size and forecast 2021-2026 (thousand tons)
Exhibit 24: Paints and coatings - Year-over-year growth 2021-2026 (%)
5.4 Adhesives and sealants - Market size and forecast 2021-2026
Exhibit 25: Adhesives and sealants - Market size and forecast 2021-2026 (thousand tons)
Exhibit 26: Adhesives and sealants - Year-over-year growth 2021-2026 (%)
5.5 Composites - Market size and forecast 2021-2026
Exhibit 27: Composites - Market size and forecast 2021-2026 (thousand tons)
Exhibit 28: Composites - Year-over-year growth 2021-2026 (%)
5.6 Electronic components - Market size and forecast 2021-2026
Exhibit 29: Electronic components - Market size and forecast 2021-2026 (thousand tons)
Exhibit 30: Electronic components - Year-over-year growth 2021-2026 (%)
5.7 Others - Market size and forecast 2021-2026
Exhibit 31: Others - Market size and forecast 2021-2026 (thousand tons)
Exhibit 32: Others - Year-over-year growth 2021-2026 (%)
5.8 Market opportunity by Application
Exhibit 33: Market opportunity by Application
6. Customer landscape
Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 34: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
The regions covered in the report are:
- Rest of South America
Exhibit 35: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 36: Geographic comparison
7.3 Brazil - Market size and forecast 2021-2026
Exhibit 37: Brazil - Market size and forecast 2021-2026 (thousand tons)
Exhibit 31: Brazil - Year-over-year growth 2021-2026 (%)
7.4 Argentina - Market size and forecast 2021-2026
Exhibit 39: Argentina - Market size and forecast 2021-2026 (thousand tons)
7.5 Chile - Market size and forecast 2021-2026
Exhibit 41: Chile - Market size and forecast 2021-2026 (thousand tons)
Exhibit 42: Chile - Year-over-year growth 2021-2026 (%)
7.6 Peru - Market size and forecast 2021-2026
Exhibit 43: Peru - Market size and forecast 2021-2026 (thousand tons)
Exhibit 44: Peru - Year-over-year growth 2021-2026 (%)
7.7 Rest of South America - Market size and forecast 2021-2026
Exhibit 45: Rest of South America - Market size and forecast 2021-2026 (thousand tons)
Exhibit 46: Rest of South America - Year-over-year growth 2021-2026 (%)
7.8 Market opportunity by geography
Exhibit 47: Market opportunity by geography (thousand tons)
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increasing demand for paints and coatings in the automotive industry
8.1.2 Growth in the real estate and construction industry
8.1.3 Rise in the number of mergers and acquisitions
8.2 Market challenges
8.2.1 Fluctuations in the price of raw materials
8.2.2 Stringent regulations and policies
8.2.3 Increasing use of glass in buildings
Exhibit 48: Impact of drivers and challenges
8.3 Market trends
8.3.1 Increasing focus on bio-based and eco-friendly resins
8.3.2 Increasing demand for composites in the automotive industry
8.3.3 Increasing usage in the aerospace and aircraft industry
9. Vendor Landscape
Exhibit 49: Vendor landscape
9.2 Landscape disruption
Exhibit 50: Landscape disruption
Exhibit 51: Industry risks
9.3 Competitive landscape
10. Vendor Analysis
10.1 Vendors covered
Exhibit 52: Vendors covered
10.2 Market positioning of vendors
Exhibit 53: Market positioning of vendors
10.3 3M Co.
Exhibit 54: 3M Co. - Overview
Exhibit 55: 3M Co. - Business segments
Exhibit 56: 3M Co. - Key news
Exhibit 57: 3M Co. - Key offerings
10.4 Allnex Netherlands BV
Exhibit 59: Allnex Netherlands BV - Overview
Exhibit 60: Allnex Netherlands BV - Product and service
Exhibit 61: Allnex Netherlands BV - Key offerings
10.5 BASF SE
Exhibit 62: BASF SE - Overview
Exhibit 63: BASF SE - Business segments
Exhibit 64: BASF SE - Key offerings
Exhibit 65: BASF SE - Segment focus
10.6 Covestro AG
Exhibit 66: Covestro AG - Overview
Exhibit 67: Covestro AG - Business segments
Exhibit 68: Covestro AG - Key offerings
Exhibit 69: Covestro AG - Segment focus
10.7 DuPont de Nemours Inc.
Exhibit 70: DuPont de Nemours Inc. - Overview
Exhibit 71: DuPont de Nemours Inc. - Business segments
Exhibit 72: DuPont de Nemours Inc. - Key news
Exhibit 73: DuPont de Nemours Inc. - Key offerings
Exhibit 74: DuPont de Nemours Inc. - Segment focus
10.8 Hexion Inc.
Exhibit 75: Hexion Inc. - Overview
Exhibit 76: Hexion Inc. - Business segments
Exhibit 77: Hexion Inc. - Key news
Exhibit 78: Hexion Inc. - Key offerings
Exhibit 79: Hexion Inc. - Segment focus
10.9 Huntsman Corp.
Exhibit 80: Huntsman Corp. - Overview
Exhibit 81: Huntsman Corp. - Business segments
Exhibit 82: Huntsman Corp. - Key news
Exhibit 83: Huntsman Corp. - Key offerings
Exhibit 84: Huntsman Corp. - Segment focus
10.10 Momentive Performance Materials Inc.
Exhibit 85: Momentive Performance Materials Inc. - Overview
Exhibit 86: Momentive Performance Materials Inc. - Product and service
Exhibit 87: Momentive Performance Materials Inc. - Key news
Exhibit 88: Momentive Performance Materials Inc. - Key offerings
10.11 Olin Corp.
Exhibit 89: Olin Corp. - Overview
Exhibit 90: Olin Corp. - Business segments
Exhibit 91: Olin Corp. - Key offerings
Exhibit 92: Olin Corp. - Segment focus
10.12 Spolchemie AS
Exhibit 93: Spolchemie AS - Overview
Exhibit 94: Spolchemie AS - Product and service
Exhibit 95: Spolchemie AS - Key offerings
11.1 Scope of the report
11.1.1 Market definition
11.1.3 Notes and caveats
11.2 Currency conversion rates for US$
Exhibit 96: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 97: Research Methodology
Exhibit 98: Validation techniques employed for market sizing
Exhibit 99: Information sources
11.4 List of abbreviations
Exhibit 100: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
- Collation of data
- Estimation of key figures
- Analysis of derived insights
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Rest of South America
- Increasing demand for paints and coatings in the automotive industry
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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