Resin Capsule Market Size By Product (Polyester, Epoxy, Acrylic), Catalyst (Organic Peroxide, Oil Based, Water Based), Type (Superfast, Fast, Slow), By End-user (Mining, Construction, Manufacturing, Oil & Gas), Industry Analysis Report, Regional, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Published Date: Jul 2019 | Report ID: GMI3781 | Authors: Kiran Pulidindi, Hemant Pandey
Resin Capsule Market size was more than USD 750 million in 2018 and will witness gains over 5.5% CAGR during the forecast timespan.
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Mining was the largest end-user segment in resin capsule market and accounted for more than 60% share in 2018. Resin capsules are used to fix the rock bolts in sidewall and roof in mining industry. It allows ease of installation in a roof support and reduces the human errors. Increasing and tightening safety standards in the mining will propel the product demand in coming years. Moreover, rapidly growing mining industry in the Asia Pacific will have positive impact on the resin capsule demand over the forecast period. According to Forbes, China is responsible for around 45% of global coal production and more than 50% of the demand. Owing to the increasing energy demand from manufacturing industry in the country, China’s coal production is rising with a healthy CAGR from past few decades. China has approved nearly USD 6.7 billion worth new coal mines last year due to which its coal production witnessed a growth rate over 5% and reached over 3.5 billion tons in 2018.
Resin capsule in construction industry are used in heavy duty fixing and support high loads in concrete. It used in tunnels and dam construction as they provide rigidity, high strength, easy installation and maintenance. Rapidly growing construction industry across the globe owing to increasing population and urbanization will fuel the resin capsule market size in near future. According to Oxford Economics, global construction industry will reach to USD 12.7 trillion by 2020 and account for nearly 15% global output, mainly driven by infrastructure development. Additionally, to increase connectivity many countries are investing heavily on road & airport construction, which is likely to help the resin capsule market share to growth over the stipulated time period, 2019-2025.
|Base Year:||2018||Market Size in 2018:||750 Million (USD)|
|Historical Data for:||2014 to 2018||Forecast Period:||2019 to 2025|
|Forecast Period 2019 to 2025 CAGR:||5.5%||2025 Value Projection:||1.07 Billion (USD)|
|Pages:||243||Tables, Charts & Figures:||446|
|Geographies covered (19):||U.S., Canada, Germany, UK, France, Poland, Norway, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, Saudi Arabia, South Africa, Iran|
|Segments covered:||Product, Catalyst, Type, End-user and Region|
|Companies covered (10):||Sika Ag, Fischer Group, Sormat Oy, Mungo Befestigungstechnik AG, Minova, DSI Underground, Jennmar Corporation, Hilti, Buildtech Products, Hightech Mining|
|Pitfalls & Challenges:||
Resin Capsule Market, By Product
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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.
Resin Capsule Market, By Catalyst
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.
Resin Capsule Market, By Type
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.
Resin Capsule Market, By End-user
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.
Resin Capsule Market, By Region
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.
Competitive Market Share
Many multinational and regional players are operating the resin capsule market share. Some major companies working in the industry includes Sika Ag, Fischer Group, Sormat Oy, Mungo Befestigungstechnik AG, Minova, DSI Underground, Jennmar Corporation and Hilti. Major companies in the industry are increasing their market share by acquisition and merger strategy. For instance, In April 2018, DSI Underground acquired Mining Worlds S.A. in Buenos Aires, Argentina. The company operates as a DSI Underground S.A., offering high quality and innovative solutions for the underground industry.
Mining, construction and manufacturing industries are evolved over the years to develop support system in order to reduce casualties in mining and construction industry. They are majorly used as an anchoring medium for cable and rock bolts to provide roof and sidewall support in underground activities. Tightening mining and workers safety regulations across the globe are propelling the resin capsule demand in the mining and construction industry, though they are little expensive compared to the cement and other roofing bolting materials. It has reduced the installation time and reduced the incorrect installation.
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