27, October 2021
High strength, durability, ease of application, low shrinkage, and versatility are some of the many qualities associated with epoxy resins. The polymer group has come a long way over the decades, from being used only in dental fixtures, to producing aerospace composites. The key contribution to their growing popularity is the widening demand from industries like paints & coatings, automotive, construction, electronics, and others.
Epoxies enhance the shelf life of paints and coatings, and have both industrial as well as household applications. They also exhibit excellent dielectric & adhesive properties and extremely high resistance to water, solvents, and temperature. This makes them a highly preferred material for insulation and encapsulation in electrical and electronic products.
Epoxy resins (ERs) also find numerous uses in the construction sector, and its development is expected to spur the demand for the polymer, thus accelerating the overall market growth. Triton’s study for the global epoxy resins market estimates to develop at a CAGR of 5.04% between 2021 and 2028.
Despite the multiple benefits of ERs, the industry has been facing flak due to certain severe drawbacks associated with their use. Their production and disposal contribute to an array of environmental problems. Not just that, these materials have also left a harmful imprint on human health.
A significant amount of toxic chemical content, such as BPA, ECH, and VOCs, among others, has been found in many epoxy resin products. Bisphenol-A has been red-flagged, with multiple studies linking this hormone -disrupting chemical to impaired immune function, diabetes, obesity, early onset of puberty, adverse effects on the endocrine & reproductive systems, etc. Several European nations have imposed a ban on using BPA in various products. The Indian and Chinese governments have also responded to Europe’s BPA regulations in order to gain access to Western markets.
Whereas, the International Agency for Research on Cancer (IARC) has identified epichlorohydrin as a carcinogen. It may also potentially cause liver & kidney damage, central nervous system problems, and adverse blood changes. Further, a number of authorities, including the United States Environmental Protection Agency (US EPA) and the South Coast Air Quality Management District (SCAQMD), are implementing stringent regulations to reduce the VOC content in such products, as it directly harms the ozone layer.
These bans on key raw materials have severely dented the companies’ production processes. If the industry as a whole does not take a collective stand, it may even render epoxy resins useless. Therefore, despite the losses, companies need to invest heavily in equipment and technologies to overhaul the existing manufacturing process and focus on R&D.
Experts thus recommend developing safer alternatives to such materials, which is directly impacting this industry’s dynamics. These days, the packaging industry can be seen adopting non-BPA coatings in metal packaging and edible coatings in food packaging. Renewable sources like polylactic acid, bio-polyethylene, and PHAs, are thus being increasingly preferred. Also, due to the fluctuating raw material prices, even conventional alternatives like polyamide expanded polystyrene (EPS) and polyurethane are now witnessing high demand. The growing popularity of alternative resins, such as phenolic resins, PET, and unsaturated polyester resins, is likely to curtail the market share of epoxy resins in the forthcoming years.
Companies are realizing the potential of manufacturing ERs using bio-based raw materials. Bio-based epoxy pre-polymers can be obtained from natural sugars, sorbitol, and isosorbides. Also, ECH can be produced using bio-sourced glycerol extracted from oil plants. Manufacturing epoxy resins from bio-based materials will increase their sustainability factor, and, in turn, create diverse growth opportunities for key players. EcoPoxy is one such brand committed to responsible manufacturing practices.
New product development and innovation are key growth strategies being adopted by existing establishments. For instance, in September 2017, Hexion Inc launched a new ER system called EPON FlameX Resin 9600. Developed for aviation applications, it boasts of low fire, smoke, and toxicity (FST) properties. The following month, Solvay SA launched SolvaLite™ 730, a thermoset prepreg resin system, made specifically for high-volume automotive applications. In February 2020, it launched CYCOM EP2750, a high-rate compression molding prepreg for primary aerospace structures.
Additionally, leveraging technological advancements, market players are now modifying ERs to cater to the demand for specific applications. This has led to the production of epoxy resins with enhanced features, without compromising on their fundamental properties.
Owing to the increasing end-user applications, the adoption of epoxy products that are free of toxic constituents is expected to surge. The development of green or bio-based epoxy resins, along with the improvements in manufacturing technology, will counter the challenges faced by this industry. Products that adhere to the highest safety standards in the manufacturing, transit, storage, use, and disposal stages, and also comply with health & environmental concerns, will certainly have lucrative opportunities in the future.
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