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South America Epoxy Resins Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 100 Pages
  • April 2021
  • Mordor Intelligence
  • ID: 4520102
The market for South America epoxy resins is expected to grow at a CAGR of over 4% globally during the forecast period. Strong growth of the construction industry is likley to drive the market growth during the forecast period.
  • Impact of COVID-19 pandemic is likley to hinder the growth of the market.
  • Brazil dominated the South America epoxy resins market and is likley to continue through the forecast period.

Key Market Trends

Paints and Coatings Segment to Dominate the Market
  • Epoxy resins are reinforced polymer composites, derived from petroleum sources; by themselves, they are the result of a reactive process involving epoxide units.
  • These resins are used as binders for coating applications to enhance durability of coating for floor and metal applications.
  • Epoxy resins help in the development several properties in coatings, such as strength, durability, and chemical resistance. Its properties and abilities of quick drying, toughness, excellent adhesion, good curing, abrasion resistance, and excellent water-resistivity, make it suitable for providing protection to metals and other surfaces.
  • Epoxy powder coatings are used on washers, dryers, and other white goods, on steel pipes and fittings used in the oil and gas industry, water transmission pipelines, and concrete reinforcing rebar, due to their flexible applicability.
  • The automotive, marine, and aerospace industries use epoxy coatings as primers for corrosion protection.
  • Epoxy coatings can further act as protective coatings to industrial flooring.
  • Thus, the rapid growth in the South American paints and coatings industry (mainly automotive and industrial coatings) is expected to propel the growth of the epoxy resins market during the forecast period.
  • Such factors are expected to drive the demand for epoxy resins in paints and coatings, thus increasing the growth of the market during the forecast period.

Brazil Country to Dominate the Market
  • Over the past few years, Brazil had a volatile economy, with a GDP growth of -3.3%, 1.1%, and 1.1% in 2016, 2017, and 2018, respectively. The political instability, high inflation, low prices of export of goods, and decreased confidence levels have resulted in the contraction of the country’s economy. The country’s economy has witnessed a GDP growth of less than 1% in 2019, and no further growth in economy is expected to be witnessed in 2020, owing to the declining economic growth due to COVID-19 impact.
  • Currently, Brazil’s infrastructure accounts for a very small proportion of the overall country’s GDP and there are major gaps in the infrastructure sector of the country, majorly in the transportation and energy sector that are needed to be addressed.
  • In mid-2019, the Brazilian Ministry of Infrastructure proposed over 50 projects, including highways, airports, ports, and other segments, in order to be granted to the private sector for investments and development of infrastructure in the country.
  • The Government of Brazil has been initiating programs to increase the public financing for construction projects. For example, the Program of Investment Partnerships (PPI) helped to expand and strengthen the relationship between the private sector and the state, with the partnership contracts.
  • The sales of consumer electronics appear to have reached saturation in Brazil. Consumers are more careful, while buying expensive products, and this behavior is expected to continue in the coming years. However, many categories were helped by the sale of various expensive items, such as 4K television. Despite the challenging situation, Samsung and LG, are continuing to strengthen their positions in the country.
  • Thus, the demand for epoxy resins in Brazil is expected to grow during the forecast period.

Competitive Landscape

The South America epoxy resins market is partially fragmented in nature with the presence of various players in the market. Some of the major companies in South America epoxy resins market includes 3M, Covestro AG, Hexion, Huntsman International LLC, Olin Corporation, among others.

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Strong Growth of the Construction Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Impact of COVID-19 Pandemic
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5.1 Raw Material
5.1.1 DGBEA (Bisphenol A and ECH)
5.1.2 DGBEF (Bisphenol F and ECH)
5.1.3 Novolac (Formaldehyde and Phenols)
5.1.4 Aliphatic (Aliphatic Alcohols)
5.1.5 Glycidylamine (Aromatic Amines and ECH)
5.1.6 Other Raw Materials
5.2 Application
5.2.1 Paints and Coatings
5.2.2 Adhesives and Sealants
5.2.3 Composites
5.2.4 Electrical and Electronics
5.2.5 Wind Turbines
5.2.6 Other Applications
5.3 Geography
5.3.1 Brazil
5.3.2 Argentina
5.3.3 Chile
5.3.4 Columbia
5.3.5 Rest of South America
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Aditya Birla Chemicals
6.4.3 BASF SE
6.4.4 Covestro AG
6.4.5 Daicel Corporation
6.4.6 DuPont de Nemours, Inc.
6.4.7 Hexion
6.4.8 Huntsman International LLC
6.4.9 Olin Corporation
6.4.10 Spolchemie

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 3M
  • Aditya Birla Chemicals
  • Covestro AG
  • Daicel Corporation
  • DuPont de Nemours, Inc.
  • Hexion
  • Huntsman International LLC
  • Olin Corporation
  • Spolchemie