Resin Intermediate Market: Overview
Resin intermediate has showcased its worth by acquiring wide end-use application ranging from performance coatings to adhesives & sealants. The market for resin intermediates has proved its upper hand capabilities to enhance the properties of polyester resins and induces prosperity in its end-use applications. Increasing demand and burgeoning pace in adhesive and sealants applications induces growth potential and led resin intermediates to provide substantial pace to the overall growth of the resin intermediate market.
The market is continuously putting best efforts to cope up with the increasing technology of resin intermediates in various applications including automotive OEM, coatings and high-performance paints. This growing need has a lot of impact on the supply of key raw materials and procurement cost. Keeping all these as an important aspect, the market is expected to grow with a single-digit CAGR in the forecast period.
Certainly, the resin intermediates have been offering various resin types as intermediates based on polymers infused depending on the types of end uses it is going into. The existence of resin intermediates in the solvent base and solid flakes poised to gather unique importance and continuously boost the market from the front seat. Properties offered by resin intermediates during binding of chemical substrates for base polymers proffers its wide application in the market.
Resin Intermediates finds its wide importance in automotive OEM and its application as high-performance coating materials. The market for coatings and architectural paints is expanding itself resulting in the induction of better fusibility. This growing potential of the resin intermediates in the market is serving the present needs of consumers and continues to showcase a similar trend to reframe its strong potential shortly. With robust manufacturing and R&D bases, the market for resin intermediates will tend to portray incremental opportunities for prominent players operating in the market.
The demand curve for resin intermediates in its chemical application is found spiking with its increased versatility and binding properties. For instance, market leaders in the market offer resin intermediates based on requirement preferred by end-use industries over resin type and base polymer material to flourish the consumption demand efficiently. A similar trend is expected to be followed over the medium-run forecast period as overall chemical applications for resin intermediates is estimated to increase. With the intervention of innovation and research in resin intermediate properties, the market soon to witness robust growth with wide application offering during the forecast period.
COVID-19 Impact on Resin Intermediates
During this COVID-19 pandemic, countries are forced to impose lockdowns and follow strict social distancing norms. This has resulted from various industries from manufacturing to production seen a step depth in their economic curve. This pandemic has disrupted almost every market and the resin Intermediate market has also been affected moderately. Though demand and supply across the globe were less, resin Intermediate remains in its stable curve as of now. COVID-19 pandemic has shown us huge disruptions in the demand-supply channel across multiple industries, leading towards economic losses at a global aspect. However, consistently upgrading and improving the supply chain, manufacturing and safety measures with COVID-19 guidelines for worker safety at industries has helped the resin intermediate market to bounce back strongly by the fourth quarter of 2020.
The jointly progressing global chemical industry as an emerging potential market for resin intermediate showcased notable setbacks after closing down of almost all the production bases globally due to strict lockdown guidelines floated by governments of all regions. Procurement risks associated with local sourcing and distribution taxes intensified during these hard time and suppliers for raw material heightened their average selling price to compensate for their losses.
Though demand and supply across the globe were less, resin intermediate is now recovering and moving into its stable curve. COVID-19 pandemic has shown us enormous disruptions in the demand-supply channel across multiple chemical industries both for conventional and unconventional application, leading towards economic losses at a global aspect.
Besides all the foreseen conditions that are prevailing around the globe during this tough time, resin intermediates market demands reorganization in its use cases and application. As a result, the market will strongly bounce back to the positive side of the graph and will portray prosperity.
Segmentation Analysis of Resin Intermediate Market
Considering the resin intermediate market at glance, it's bifurcated into four major segments i.e. type, form, resin type, application and key regions.
On the basis of Type, Resin Intermediate market is segmented as follows:
On the basis of Form, the Resin Intermediate market is segmented as follows:
- Solventless liquid
- Solid flakes
On the basis of Resin Type, Resin Intermediate market is segmented as follows:
- Acrylic Resin Beads
- Epoxy resins
- Polyvinyl Butyral (PVB) Resins
- Amino Resins (Melamine)
- Fluoropolymer Resins (FEVE)
- Silicone Oils (SILOIL)
On the basis of Applications, the Resin Intermediate market is segmented as follows:
- Composite & Gel coat
- Automotive OEM
- High performance paints
- Adhesive & Sealants
On the basis of region, the resin intermediate market is segmented as follows:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Resin Intermediate Market: Regional Overview
Based on regional overview, Resin Intermediates takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. Of these, East Asia, North America and Europe collectively account for nearly 80% of the Resin Intermediate market share. The well-established market of resin intermediate has gained more interest in these years, as Europe and China came up to the most prominent country for the production and supply of resin intermediate based products.
Resin intermediate finds prominence in the constructional application as a performance coating medium. Regional expansion strategies adopted by key players operating in these prominent regions are focusing on delivering reliable use cases and applications. Globally regions are actively taking care of their raw material demand and supply to foster down the growing demand for resin intermediate market.
Although the market for resin intermediate is proffered with the global penetration of chemical Industries, the demand for the same is at the surge and continuous advancements offered by operating market players into these regions are tend to bolster the demand graph for potential resin intermediate.
Resin Intermediate Market: Key Players
The resin intermediate market has opened the door for plenty of applications with most of the remarkable offering for performance coatings. Resin intermediate resources are now being the emerging applications for various end-use industries driving the future consumer needs. Though the present resin intermediate market is considerably under saturation with a less significant key player in the market proving its potential manufacturing for resin intermediates.
Resin Intermediate being a consolidated market, players have a dominant presence major in the regions through North America, East Asia and Europe with streamlined distribution networks of Eastman, Dow, Arpandis and Texmark as prominent players in resin intermediate market accounting for more than 60% of the global market shares.
Certainly, for now, the market holds a consolidated structure for resin intermediate, still, the market for resin intermediate is projected to be flourished with plenty of unexplored application and innovation to look into. Robust R&D and increased spending by manufacturers over product development enriches the market potential and tends to push the growth graph to the right-hand side.
Observing current players penetration, the resin intermediate market poised to deliver more opportunities to new players planning to enter the market. Though the USA has proved a good share in the present market and is projected to continuously penetrate, the market for resin intermediate remains open for more opportunities to experience.
Key players are strategically focusing on the market of resin intermediate for penetration is finding prominence over the globe with different innovation based on the resin type and base polymer used and enhancing the application use cases
The Resin Intermediate Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Resin Intermediate Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The Resin Intermediate report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Resin Intermediate report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Resin Intermediate report also maps the qualitative impact of various market factors on market segments and geographies.
The Resin Intermediate Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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