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Ciech

Szukaj

Epoxy and saturated polyester resins

The CIECH Group is the sole Polish producer of epoxy resins and a prominent supplier of epoxy resins to European markets.

In Europe, epoxy resins are used primarily — in more than 50% — for the production of powder paints and varnishes (chemically resistant, insulation, electrical insulation). Another dozen percent of resins is used in the construction sector (screeds, sealants, fillers, binders, coatings, wall coverings). Approx. 15% of epoxy resins is consumed for the production of composites, another 10% — in electric and electronic sectors. Only in Central Europe is the share of the coatings segment (paints, etc.) in the entire market for these resins exceptionally high, reaching 2/3.

Global production capacity of epoxy resins (liquid and solid) is estimated at 5.2-5.3 million tonnes per year: Asia (more than 2/3), Europe and CIS (about 900 thousand tonnes per year), North America (about 700 thousand tonnes per year). Investment projects with regard to new capacities are located mainly in Asia. The largest world resin manufacturers include: Hexion (previously Momentive), Dow Chemical, Nan Ya (Taiwan), Huntsman Advanced Materials and KUKDO (South Korea). The above-mentioned companies are collectively responsible for more then 50% of the world production of these resins.

The CIECH Group, through CIECH Sarzyna S.A., is the only producer of epoxy resins in Poland. Production capacity of the Group is estimated at 30 thousand tonnes per year and its share in the national market, estimated at 17 thousand tonnes per year, is approximately 30%. The biggest competitors in Poland are suppliers from the EU and Far East. Primary export markets of the CIECH Group are Western and Central European countries.

The global market size of epoxy resins (liquid and solid) in 2016 is estimated at 3.2-3.3 million tonnes per year. The demand in Europe (including CIS) is estimated at about 430 thousand tonnes per year and the CIECH Group’s share – at 4%.

In spite of increasing consumption, usage of production capacities in Europe is very low (50%). This results from a significant increase in production capacities in previous years, relatively low local demand and imports – in particular from Asia.

In the long term, the prospects for increase of demand are quite optimistic (globally by 3%–4% yearly on average). A similar increase will characterise development in the largest market — Asia; it will be slightly slower in North America. The lowest increases of about 2%–3% are expected in Western Europe. Above average growth prospects are also assumed for a relatively small market of Central and Eastern Europe. The primary sales markets of the CIECH Group are: Poland, Italy, Germany, Finland, Austria and UK.

The main consumption growth factor of epoxy resins in the following years will be glues and composites for aviation and wind power plants (in North America and Europe) as well as electronics and powder paints (in the Far East and South-East Asia region).

 

In the powder paint segment, important substitutes for epoxy resins are saturated polyester resins. The CIECH Group is also a producer of such resins through CIECH Sarzyna S.A., with production capacities of 12 thousand tonnes per year. Saturated polyester resins are used primarily for production of solvent-free powder paints. The European market for these products is developing at the rate of 2%–3% on average per year. 

The saturated polyester resins market is largely concentrated. Trade within Europe is intensive, while inter-continental trade remains insignificant. The largest net importers are Germany and UK, while the largest net exporters are Austria, Spain, Italy and the Netherlands. 

Growth of the saturated polyester resin market results primarily from the development of the segment of powder paints for mass transport in Germany, France, UK and the Czech Republic. The primary sales markets of the CIECH Group are: Poland, Italy, Germany, Belgium, UK, Romania and the Czech Republic.

 

The CIECH Group implements a development programme for new products dedicated to the fast-growing composite

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