Oct 6, 2020 12:48 PM ET
iCrowd Newswire – Oct 6, 2020
Zion Market Research has published a new report titled “Global Resin Capsules Market Report by Type (Polyester and Epoxy), by Catalyst Type (Organic peroxides, Oil-based, and Water-based), by End-Use Industry (Construction, Mining, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2026: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2026.”According to the report, the resin capsules market accounted for USD 850.8 Million and is expected to reach USD 1242.8 Million by 2026, growing at a CAGR of around 4.85% between 2019 and 2026.
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Resin capsules are a vicious, water-insoluble and flammable substance that exhibits the property of binding and has quick setting time. A resin capsule has vast applications in the construction of tunnels and other engineering processes. Resin capsules provide superior anchorage which is not easily weakened by severe ecological conditions. The main objective of using resin capsules is to hold together and provide strength. The sealing of wet holes is also made possible by using resin capsules. The mining industry is one of the biggest users of resin capsules that are employed for cable and rock fastening.
Several factors are accountable for the growing trend of resin capsule market; including the large investment in infrastructural and engineering activities globally. Supporting and improving the infrastructure growth in the evolving era is the main requirement, which is expected to drive the growth of the resin capsule market over the forecast timeframe. Numerous raw materials are used to produce resin capsules, which leads to an increase in the price of the capsule which is the major factor expected to hinder the growth of the resin capsule market. The short shelf-life of the resin capsules is also one of the restraining factors in the growth of the resin capsules market. The investments in product and technological advancements are expected to create better prospects for the resin capsule market in the forecast timeframe.
On the basis of type, the resin capsules market has been segmented into polyester and epoxy. Polyester resin capsule segment held one of the highest market shares in 2018 owing to its usage in industries such as the mining industry, due to its superior properties such as distributed anchorage and chemical & corrosion resistance, controlled setting time, and high reliability. Moreover, the usage of the product in the tunneling process since the past few years is growing at a rapid pace as it is extremely useful for rock stabilization. Epoxy was another product segment that witnessed an appreciable demand in 2018 and is projected to grow at a rapid rate during the forecast timeframe. The rapidly developing manufacturing industry in the evolving countries, for instance, South Africa, Brazil, India, and Indonesia are expected to drive the demand for resin capsules over the forecast timeline.
On the basis of catalyst type, the resin capsules market has been segmented into organic peroxides, oil-based, and water-based. The demand for organic peroxide resin capsules is expected to grow at a rapid rate over the forecast years. The rapid industrialization and urbanization in the Asia Pacific region are one of the main reasons for this growth. The water-based capsule witnessed significant growth and accounted for one of the major resin capsule market shares in 2018. Water-based resin capsule increases the consistency, a reduction in formulation cost, encapsulation, and mixing quality. The lower price of the product is expected to propel its demand in the mining sector as the resin capsules are purchased in bulk quantity there. The mining industry is witnessing strong growth in countries such as India, Indonesia, China etc., which is anticipated to fuel the demand for water-based resin capsule over the forecast years.
By end-use industry, the resin capsules market has been segmented into construction, mining, manufacturing, and others. The construction segment was one of the most profitable end-user segments in the resin capsule market in 2018. In the construction industry, resin capsules are used in applications such as dam construction and rock bolting across tunneling. The increasing road connectivity across the globe and the growing infrastructure development is anticipated to fuel the growth of the resin capsule market over the forecast years. For instance, in 2013, the Chinese government launched the OBOR (One Belt One Road) initiative to revive the silk route and to increase the connectivity of China with other regions.
The key players operating in the global resin capsule market are Sika Ag, Fischer Group, Sormat OY, Mungo Befestigungstechnik AG, Minova, DSI Underground, Jennmar Corporation, Hilti, Hightech Mining, Buildtech Products.
The global resin capsule market has been segmented as follows:
Global Resin Capsule Market: Type Segment Analysis
Global Resin Capsule Market: Catalyst Type Segment Analysis
- Organic peroxides
Global Resin Capsule Market: End-Use Industry Segment Analysis
Global Resin Capsule Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
To view TOC of this report is available upon request @ https://www.zionmarketresearch.com/toc/resin-capsules-market
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Keywords: Resin Capsule Market