Phenoxy Resins Market

Phenoxy Resins Market – Size, Share, Outlook, and
Opportunity Analysis, 2018 – 2025
Phenoxy resins are amorphous thermoplastic polymers and thermosetting resins.
These polymers have terminal hydroxyl groups as well as hydroxyl groups in every
repeat unit and thus can be classified as polyhydroxyethers. They are derived from
Bisphenol A and Epichlorohydrin. Phenoxy resins offer excellent mechanical
properties such as hardness, tough flexibility, abrasion resistance, impact resistance,
chemical resistance, heat resistance, vapor barrier and compatibility. They are
soluble in a variety of materials including ketones, glycol ethers, and esters. They
have excellent vapor barrier properties and are safe to use for direct and indirect
food and beverage container coatings. They are cured by reactions with
polyisocyanates, anhydrides or other crosslinking agents. In general phenoxy resins
are transparent with good dimensional stability.
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Structurally, phenoxy resin is a polyhydroxyether with terminal alpha-glycol groups.
Their weight-average molecular weight ranges from approximately 25,000 to above
60,000 and the highest polymeric species exceed 250,000 daltons in molecular
weight.
Waterborne phenoxy resins are colloidal dispersions. Phenoxy resins favor polar,
aprotic-type solvents in solvent-borne applications, although incorporation into
formulations having hydrocarbon or aromatic solvents is quite possible when
sufficient polar solvents are used. They are availabe in solid and liquid forms in
combinations with other polymers. For instance, Inchem Corporation’s product range
includes over two dozen forms of phenoxy resins and related compounds including,
standard solid grades in pellet and powder form, solvent solution grades and
waterborne colloidal dispersions, Phenoxy-polyester hybrids epoxy-phenoxy hybrids,
caprolactone-modified phenoxy, epoxy resin solutions, and crosslinkers. Phenoxy
resins are often combined with epoxies, polyethers, and polyesters and provide
user-friendly hybrids for formulation latitude and novel properties.
Standard solid grade phenoxy resins are used for wire coatings, PCB coatings, can
and coil coating, metal primers, wood coating, glass coating. Compatibilizers,
structural adhesives, kitchen cabinets, cast elastomers also uses phenoxy resins.
Phenoxy resins are used or protective coatings in flexible and rigid food packaging.

Market​ ​Dynamics
Increasing demand for phenoxy resin from end-use industries is major factor driving
growth of the global phenoxy resins market, owing to compatibility of phenoxy resin
with several polymers. Moreover, these resins are efficient flexibilizers for
cross-linked phenolic and epoxy formulations used in adhesives, coatings, and
composites. Composite industry is rising due to end use applications and is used in
automotive and electronics sector. According to Federation of Reinforced Plastics,
compared to 2015, a growth of 8.76% was observed in 2016 in global demand for
carbon fiber composites.
However, the volatility in raw material prices is a major factor restraining growth of
the global phenoxy resins market. Prices of raw materials of phenoxy resins i.e.
Bisphenol A and epichlorohydrin fluctuate due to supply and demand imbalance.
Market Outlook
According to the Coherent Market Insights’ analysis, Asia Pacific held dominant
position in the market in 2017 and is projected to maintain its dominance throughout
the forecast period. This is owing to increasing demand for adhesives and coatings
in automotive and electronics industry. Moreover, phenoxy resin products are widely
used as modifiers to other chemistries and utility as the sole resinous vehicles in
coatings, adhesives, and others. According to American Coatings Association,
automotive refinish coatings is the largest sub-segment of special purpose coatings,
with a value of $2 billion in 2014.
Among applications, the coatings segment is projected to gain major traction over
the forecast period, owing to increasing application of coating in marine, metal, and
automotive industry. According to American Coatings Association, marine paints,
including both original equipment manufacturer (OEM) and refinish applications, had
a value of $400 million in 2014.
​Key players in Global Phenoxy Resins Market
Key players operating in the global phenoxy resins market include, Mitsubishi
Chemical, Gabriel Performance Products, LLC, DIC Corporation, Kukdo Chemical,
Georgia-Pacific (GP) Chemicals, SHIN-A T&C Co., Ltd., and Nan Ya Epoxy.
Manufacturers are focused on expanding the production capacities and acquiring
new compnanies as a part of strategic planning to extend their markrt share. For
instance, on January 2014, Gabriel Performance Products, LLC, a U.S.-based

specialty chemicals company, announced the acquisition of InChem Corporation’s
proprietary Phenoxy Resin business.
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