Resin Capsule Market Size

Resin Capsule Market Size

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.