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.

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.

Key Developnents

  • Key players are adopting in-organic growth strategies such as new product launches, business expansion in order to gain market share in the global phenoxy resins market. In April 2016, Gabriel Performance Products (Gabriel), a market leader in epoxy additives and specialty chemical manufacturing announced the launch of its evolved brand mark and newly redesigned website, The new website showcases the full array of Gabriel’s key product offerings including Epoxy Curing Agents, Phenoxy Resins and Specialty Lubricants.
  • In October, 2019, Gabriel Performance Products (Gabriel), a U.S.-based leading specialty chemicals company serving the coatings, adhesives, and composite end markets, announces the acquisition of a select portfolio of alkyd resins from Deltech Resin Company. With this acquisition the company wants to expand its product portfolio in the market.

Market Taxonomy

On the basis of product type, global phenoxy resins market is segmented into:

  • Solid
  • Solution

On the basis of application, global phenoxy resins market is segmented into:

  • Adhesives
  • Coating
  • Ink
  • Composite
  • Plastic

On the basis of region global phenoxy resins market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users