Resin Capsules Market by Catalyst Type (Organic Peroxides, Oil-based, and Water-based), Resin Type (Polyester, Epoxy, and Acrylic), End-Use Industry (Mining, Construction, and Manufacturing), and Region - Global Forecast to 2022
Seattle, WA -- (SBWIRE) -- 08/15/2017 -- The Resin Capsules market for resin capsules is projected to grow from USD 972.8 Million in 2016 to USD 1,256.2 Million by 2022, with a CAGR of 4.46%, from 2017 to 2022. The market is witnessing considerable growth due to the rise in industrialization and infrastructural development. High demand for resin capsules is primarily attributed to the increase in mining and construction activities.
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The polyester resin type held a considerably large market share in the resin capsules market.
Polyester resins dominated the resin capsules market in 2016, and is projected to retain the leading position through 2022. This can be attributed to the high demand from mining and construction industries, owing to their overall robust performance, and in particular, their superior UV resistance feature, which provides longevity and durability to the anchor system.
The construction segment is projected to grow at the highest rate during the forecast period, among all end-use industries.
The resin capsules market is segmented into mining, construction, manufacturing, and others. The mining segment accounted for the largest share in 2016; however, construction is projected to grow at the highest CAGR over the next five years. The use of resins in explosives is one of the major reasons to fuel the growth of the mining segment in the resin capsules market, as resin bolts are needed to provide strength to anchor steel studs to mine walls or ceilings.
Asia-Pacific resin capsules market constituted the largest market share in the year, 2016.
Countries such as China and Australia are expected to witness high growth in the resin capsules market, due to high foreign investments in the mining industry. The region has vast mineral resources of copper, zinc, aluminum, coal, limestone, and rare earth & precious metals. Rapid expansion of economies in the Asia-Pacific region is driving the mining and construction industry, leading to higher demand of resin capsules. The positive outlook of the economies is attracting huge investments from global mining companies.
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The global market for resin capsules is dominated by the presence of large players such as Sika AG (Switzerland), Orica Limited (Australia), Barnes Group Inc. (U.S.), DYWIDAG-Systems International (Germany), Rawlplug (Poland), Bohle AG (Germany), Sormat OY (Finland), Fischer Holding GmbH & CO. (Germany), Arkema SA (France), and Hexion Inc. (U.S.).
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