Resin capsules are primarily used as a rock and cable bolt anchoring medium, crucial for supporting mining excavations. The high demand from the mining nations is the primary cause of the rising demand for resin capsules. The largest end user segment for resin capsules is anticipated to be the mining industry through the accelerated industrialization and urbanization throughout the forecast period, "organic peroxide" is additionally the catalyst segment with the highest growth rate. Additionally, during the forecast of 2022–2029, accidents caused by strata movement in underground mines have been significantly reduced due to the growing use of resin capsules.
According to Data Bridge Market Research, the Global Resin Capsules Market is expected to undergo a CAGR of 4.88% during the forecast period of 2022 to 2029. This indicates that the market value, which was USD 1,234.49 million in 2021, would rocket up to USD 1,807.29 million by 2029.
"Infrastructure development surge market demand"
The demand for resin capsules is driven by the need for infrastructure development globally. Resin capsules play a vital role in critical applications where structural stability and safety are paramount, such as in bridges, tunnels, railways, and highways. These capsules provide reliable anchoring solutions, ensuring the integrity and durability of the infrastructure. As the demand for infrastructure projects continues to rise, the market for resin capsules experiences growth due to their essential role in supporting structural stability and safety in these developments.
What restraints the growth of the global resin capsules market?
"High cost can impede the market growth”
The high cost of resin capsules can restrain the market, particularly in cost-sensitive industries or regions. The upfront investment required for resin capsules may be higher compared to alternative anchoring methods. This cost factor can deter some end-users from choosing resin capsules, impacting their adoption and market growth. However, it is important to note that resin capsules' long-term benefits and performance, such as improved safety and durability, may outweigh the initial cost considerations for certain applications and industries.
Segmentation: Global Resin Capsules Market
The resin capsules market is segmented on the basis of product, catalyst, type and end user
- On the basis of product, the resin capsules market is segmented into polyester, epoxy, acrylic, others
- On the basis of catalyst, the resin capsules market is segmented into organic peroxide, oil based, water based
- On the basis of type, the resin capsules market is segmented into superfast, fast, slow
- On the basis of end user, the resin capsules market is segmented into mining, construction, manufacturing, oil and gas, and others.
Regional Insights: Asia-Pacific dominates the Global Resin Capsules Market
Asia-Pacific's dominance in the resin capsules market can be attributed to several factors. The region is witnessing significant investment in mining and construction activities, driving the demand for anchoring solutions such as resin capsules. Additionally, the growing export of resin capsules from Asia-Pacific countries further contributes to its market dominance. The region's expanding infrastructure projects, rapid urbanization, and favorable government initiatives create a conducive environment for the growth of the resin capsules market in Asia-Pacific.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-resin-capsules-market
Recent Developments in Global Resin Capsules Market
- In 2019, As stated in the photoinitiators for photocure resins, Arkema SA has completed the acquisition of Lambson and Prochimir. This is anticipated to help the group achieve 80% of sales revenue from this business. Additionally, this acquisition is anticipated to help the group's portfolio's specialties sector gain market share.
- 2019 In Doha, Qatar, Sika AG opened a new facility. This was established with the intention of beginning the production of concrete additives. Qatar was chosen as the shooting location due to the number of megaprojects it has planned, is currently working on, and the sizeable infrastructure investments it has made.
The Prominent Key Players Operating in the Global Resin Capsules Market Include:
- AkzoNobel N.V. (Netherlands)
- PPG Industries Inc., (U.S.)
- Arkema (France)
- Hexion (U.S.)
- Huntsman International LLC (U.S.)
- Cardolite Corporation (U.S.)
- BASF SE(Germany)
- Kukdo Chemical Co., Ltd., (South Korea)
- Dupont (U.S.)
- DAIKIN (Japan)
- Bostik (France)
- H.B. Fuller Company (U.S.)
- Sika AG (Switzerland)
- Freudenberg SE (Germany)
- Aditya Birla Group Chemicals (India)
- Mitsubishi Chemical Corporation (Japan)
- DOW (U.S.)
- SOLVAY (Belgium)
- Air Products, Inc., (U.S.)
- Momentive (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global resin capsules market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Resin Capsules Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
