Resin Capsule Market Analysis

Resin Capsule Market Analysis

Polyester resin capsule was having the major market share in resin capsule market 2018 due to high product usage in mining industry due to its properties such as reliability, controlled setting time, distributed anchorage and chemical & corrosion resistance. In addition, product usage in tunnelling from past few years growing with a rapid CAGR as it is highly useful for rock stabilization. Epoxy was one of the major product segments in 2018 and forecast to grow with a prominent CAGR of 5.2% during the forecast time period. Rapidly growing manufacturing industry in the emerging economies such as India, Indonesia, South Africa, Brazil, Russia will drive the product demand in coming years.
 

Organic peroxide-based resin capsule demand is growing with rapid CAGR from past few years. This can be attributed to the rapid industrialization and urbanization in the Asia Pacific. Water based resin capsule accounted for the major resin capsule market share and accounted for over 35% demand share in 2018. It improves mixing quality, consistency, encapsulation and a reduction in formulation cost. Reduced cost of the product has fueling its demand in mining industry, where resin capsules are purchase in bulk quantity. Rapidly growing mining industry in countries such as China, India, Indonesia, and Russia will have positive impact on the water-based resin capsule market size in coming years.
 

Superfast resin capsule was the most lucrative product type in 2018 and anticipated to grow with significant CAGR of 5.7% during the forecast timespan. Quick setting time is the major advantage due to which it will witness highest growth rate by 2025. It is used in the mining at the toe of the hole to grout the bolt quickly. Slow resin capsule was the one of the major product types in resin capsule market and projected to experience the substantial growth numbers in the coming years. It is majorly used at the end of hole for fixing and grouting.
 

Construction was the one of the lucrative end-user segments in the resin capsule market share in 2018 and is forecast to grow with a CAGR over 4% during the forecast period. In construction, it is used in rock bolting applications across tunneling and dam construction. Growing infrastructure development and road connectivity across the globe will propel the resin capsule market growth in coming years. Chinese government has launched One Belt One Road (OBOR) initiative in 2013 to revive the ancient silk route and increase the connectivity between China and other regions. Chinese government will invest over USD 1.2 billion for the same. Such initiatives are likely to fuel the product demand over the forecast period. Moreover, most of these roads are going through the hilly areas such as Gilgit-Baltistan, were tunnels are built in high numbers.
 

Asia Pacific was the largest region in resin capsule market size in 2018 and accounted for over 60% share in the same year. High growth in the end-use industries in the region were the major factors resulting in such massive demand share captured by the region. Mining, construction and manufacturing industries in the region are growing with a prominent CAGR from past few years and is expected to grow with a same pace in coming years. Countries in the region such as China, Australia, and India are showing the significant growth in mining output from past several years. For instance, according to the Australian Bureau of Statistics (ABS) Australian mining output from past several years growing with a CAGR near to 3%. Coal mining output in the country has grown from USD 11.4 billion in 1998 to USD 65.6 billion in 2018. Moreover, growing construction and mining industries in the Middle East and Africa will have positive impact on the product demand over the forecast period.