January 29, 2020
According to a study titled ‘Resin Capsule Market Size By Product (Polyester, Epoxy, Acrylic), Catalyst (Organic Peroxide, Oil Based, Water Based), Type (Superfast, Fast, Slow), By End-user (Mining, Construction, Manufacturing, Oil & Gas), Industry Analysis Report, Regional (U.S., Canada, Germany, UK, France, Poland, Norway, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, Saudi Arabia, South Africa, Iran), Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global resin capsule market is expected to cross USD 1.07 billion by the year 2025.
Rapid urbanization has bolstered the number of construction activities across the globe, which in turn is fueling the growth of resin capsule market. Resin capsules offer permanent anchorage, low setting time, and resistance to vibration & corrosion. These properties enable its application in construction of bridges, tunnels, and dams, thereby propelling the market growth.
Resin capsules have low shelf life and are costly compared to its alternatives, which is hampering its demand. Additionally, rising preference for renewable energy sources is leading to a decline of coal production and mining activities. Hence, decrease in mining activities will restrain the growth of resin capsule market in the coming years.
Based on the product terrain, epoxy resin capsule market segment recorded USD 150 million in 2018 and is expected to grow with a CAGR of 5% during the forecast timeline. Increase in product demand from the construction sector is the key parameter for the segmental growth.
In terms of the catalyst type, organic peroxide segment held a market share of 30% in 2018 and is projected to grow significantly during the forecast period. Organic peroxide based products have longer shelf and are capable of withstanding hot and cold storage conditions. Rapid industrialization across India, China, and Indonesia will continue to drive the demand for organic peroxide resins in approaching years.
Speaking of the type, slow resin segment dominated the resin capsule market in 2018 and is expected to grow steadily during the forecast period. The product is widely used in mining industry owing to its low cost.
Elaborating on the end-user spectrum, resin capsule market from construction segment is expected to grow with a CAGR of 5% during the forecast period to reach USD 200 million by the year 2025. Increasing construction activities and infrastructural investments across Asia Pacific region will stimulate the segmental growth.
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