Home Advanced Materials Resin Capsule Market Size, Growing at a CAGR of 5.2%

Resin Capsule Market

Resin Capsule Market Size, Share & Trends Analysis Report By Resin Type (Polyester, Epoxy, Acrylic ), By Catalyst Type (Organic Peroxides, Oil-Based, Water-Based), By Applications (Mining, Construction , Manufacturing, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRAM336DR
Study Period 2020-2032 CAGR 5.2%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD 1.32 billion
Forecast Year 2032 Forecast Year Market Size USD 2.08 billion
Largest Market Asia-Pacific Fastest Growing Market Europe
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Market Overview

The global resin capsule market size was valued at USD 1.32 billion in 2023. It is expected to reach USD 2.08 billion by 2032, growing at a CAGR of 5.2% over the forecast period (2024–32). The demand for dependable anchoring solutions in the construction sector is the main factor propelling the worldwide resin capsule market. The requirement for safe and effective anchoring in various applications, including bridges, tunnels, and buildings, as well as rapid urbanization and infrastructure development, are major drivers driving the global resin capsule market's expansion.

Resin capsules consist of resin in a sealed container, which can be placed into drill holes. The resin cures and forms a bond with the materials around it. Resin capsules are useful for anchoring and reinforcement in various industries, such as construction, mining, and tunneling. They have benefits such as fast installation, strong load-bearing capacity, and durability in different environments.

The mining industry uses resin capsules for rock bolting, ground support, and anchoring equipment. They have the advantage of being strong and able to cure in damp environments. In the oil and gas industry, resin capsules are used for well completion, downhole operations, and pipeline installations. They benefit from being securely adhered to and resistant to harsh conditions. In construction, resin capsules anchor heavy objects like beams and machinery into concrete or brick. They have the potential to be more cost-effective and durable than other materials.

Highlights

  • Asia-Pacific is the largest shareholder in the global market

Market Dynamics

Resin Capsule Market Drivers

Rising Demand for Infrastructure Development

The demand for resin capsules is driven by the rising demand for infrastructure development globally. Infrastructure development is essential for economic growth, social welfare, and environmental sustainability. Resin capsules are widely used for anchoring and reinforcement in the infrastructure sector, as they offer advantages such as quick installation, high load-bearing capacity, and resistance to various environmental conditions.

For instance, the U.S. government increased its spending on infrastructure development in 2023 with the passage of the USD 1.2 trillion Infrastructure Investment and Jobs Act, which allocates funds for various projects such as roads, bridges, railways, airports, water systems, broadband, and clean energy. This act aims to improve the nation's infrastructure and create jobs while addressing climate change and environmental justice issues. This is expected to drive market growth.

Resin Capsule Market Restraint

Fluctuation in the Prices of Raw Materials 

The restraint of the resin capsule market is the fluctuation in raw material costs, which affects the profitability and pricing of the manufacturers. Raw materials, such as polymers and monomers, are subject to changes in supply and demand, as well as global and regional factors, such as trade policies, environmental regulations, and geopolitical events. These changes can increase the cost of production and reduce the profit margins of the manufacturers, who have limited flexibility in adjusting the prices of their products due to market competition. This restraint especially affects small manufacturers, as they have less bargaining power with suppliers and face more challenges competing with larger players. Therefore, raw material cost fluctuations pose a significant challenge to the growth of the resin capsule market.

Resin Capsule Market Opportunities

Eco-friendly and High-Performance Resin Capsules

The demand for high-performance, environmentally friendly resin capsule solutions is rising as people become more aware of how synthetic materials affect the environment. These solutions use plant-based resins derived from renewable sources such as soybeans, corn, or lignin instead of petroleum-based chemicals. Plant-based resins offer advantages such as reduced greenhouse gas emissions, biodegradability, and compatibility with various substrates and applications. They also provide comparable or superior performance to traditional epoxy resins in terms of strength, durability, and resistance.

For instance, DuPont is a global science and innovation company offering various products and solutions for various industries, including construction, mining, and oil and gas. They have introduced a bio-based resin called Sorona, made from 37% renewable plant-based ingredients with superior performance, durability, and sustainability. This resin can be used for anchoring and reinforcement in concrete, masonry, and other applications, such as carpets, apparel, and automotive interiors.

Regional Analysis

Asia-Pacific Dominates the Global Market

Based on region, the global resin capsule market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

Asia-Pacific is the most significant global resin capsule market shareholder and is expected to expand substantially during the forecast period. Countries such as China, India, and Australia have abundant mineral resources. They are investing heavily in infrastructure development, which boosts the consumption of resin capsules for rock bolting and anchoring applications. The National Infrastructure Pipeline (NIP) project is a comprehensive plan to boost India's economic growth and social development by improving the quality and quantity of infrastructure across the country. The project covers 23 sectors and 54 sub-sectors, such as energy, roads, railways, urban development, water supply, health, education, and digital connectivity. The project aims to create a world-class infrastructure that is sustainable, resilient, and inclusive. The NIP project is expected to positively impact the Indian economy and society, as it will create employment opportunities, stimulate demand, increase tax revenues, and improve the quality of public services. The NIP project is a visionary and ambitious initiative that reflects the government's commitment to transforming India into a modern and prosperous nation.

Due to the strong demand from the region's mining and construction sectors, Asia-Pacific is now home to the largest and fastest-growing resin capsule market. The Australian government's 10-year infrastructure plan consists of the Western Sydney International (Nancy-Bird Walton) Airport, a major hub for domestic and international flights and a catalyst for economic and social development in the region. Similarly, the Great Western Highway Upgrade will improve safety and travel times for motorists and freight operators in the Blue Mountains area of New South Wales. The National Water Grid Connections will enhance water security and resilience by investing in dams, pipelines, and other infrastructure to deliver water to communities and industries. Such factors propel regional market growth.

Europe is expected to be the second-largest market for resin capsules, after Asia-Pacific, owing to the increasing adoption of resin capsules for anchoring and reinforcement applications in various sectors, such as railways, bridges, and tunnels. The region has a well-developed infrastructure industry that requires reliable and durable solutions for structural stability and safety. Resin capsules are ideal for difficult terrains and climates because of their many advantages, including quick installation, load-bearing solid capability, and resistance to diverse environmental conditions. Moreover, the region is seeing an increase in infrastructure-building initiatives, particularly in Eastern Europe, which is anticipated to raise resin capsule demand in the upcoming years.

Report Scope

Report Metric Details
Segmentations
By Resin Type
  1. Polyester
  2. Epoxy
  3. Acrylic 
By Catalyst Type
  1. Organic Peroxides
  2. Oil-Based
  3. Water-Based
By Applications
  1. Mining
  2. Construction 
  3. Manufacturing
  4. Others
Company Profiles Sika AG Barnes Group, Inc. Orica Limited DYWIDAG-Systems International Bohle AG Rawlplug Sormat OY Arkema SA Fischer Holding GmbH & CO. Hexion Inc. Koelner Rawlplug IP.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Singapore Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global resin capsule market is bifurcated into resin type, catalyst type, and application.

Based on resin type, the global resin capsule market is segmented into polyester, epoxy, and acrylic.

Polyester resin is the dominant segment in the resin type segment of the resin capsule market. They have several advantages that make them suitable for various industries, especially mining. They are cost-effective, as they are cheaper than other resin types. They have suitable properties, such as mechanical strength, adhesion, and curing speed, that enable them to provide reliable support for rock and cable bolts in underground excavations. They are easy to use, requiring less equipment and expertise to install, resulting in faster and cheaper operations. They are also versatile, as they can be modified with additives to meet different application needs and mining conditions.

Based on catalyst type, the global resin capsule market is segmented into organic peroxides, oil-based, and water-based.

Organic peroxides have several advantages that make them suitable for various applications in the construction and mining industries. They can initiate the curing process of resins faster than other catalysts, resulting in shorter setting times and higher efficiency. They can also work with different resin types, allowing manufacturers to customize their resin capsule solutions for different needs.

Moreover, they can reduce the overall costs of resin capsule applications by minimizing labor time and material waste. This projection reflects the increasing demand for organic peroxides as catalysts in various industrial processes, particularly in polymer manufacturing, plastics, and rubber industries. They also have a long industry use history, which means they have a stable supply chain, well-developed application knowledge, and a proven performance record. Therefore, organic peroxides are preferred by many resin capsule manufacturers and end-users.

Based on the application, the resin capsule market is bifurcated into mining, construction, manufacturing, and others.

Resin capsules are widely employed in various construction materials, such as mortar, concrete, sealants, adhesives, grouts, and injection materials. They enhance the workability, strength, durability, and bonding of these materials, contributing to the structural integrity and performance of the construction projects. Resin capsules offer several advantages over traditional methods of adding admixtures, such as pre-measured doses, enhanced control, reduced labor costs, and environmental benefits.

However, they eliminate the need for manual measurement, prevent premature curing, streamline the construction process, and mitigate the risk of spills and improper disposal. Environmental regulations and safety concerns are increasingly influencing the construction industry. Resin capsules can help comply with these regulations by minimizing hazardous material exposure and ensuring proper handling and disposal.

Market Size By Resin Type

Recent Developments

March 2024: The acquisition of Normet by Minova was seen as a positive development for the resin capsule market, as it created a stronger and more competitive player that could offer a wider range of solutions and services to its customers. The merger also reflected the growing demand for resin capsules in various sectors, such as mining, construction, and infrastructure, driven by factors such as increased safety, efficiency, and sustainability.

Top Key Players

Sika AG Barnes Group, Inc. Orica Limited DYWIDAG-Systems International Bohle AG Rawlplug Sormat OY Arkema SA Fischer Holding GmbH & CO. Hexion Inc. Koelner Rawlplug IP. Others

Frequently Asked Questions (FAQs)

What is the estimated growth rate (CAGR) of the global Resin Capsule Market?
The global Resin Capsule Market size is growing at a CAGR of 13.2% from 2023 to 2031.
Asia Pacific has the largest share of the market.
Increasing construction is the key driver for the growth of the market.
Demand from bio-based polyester resins with technological advancements is one of the upcoming trend in the market.
The key players in the global Market include Sika AG (Switzerland), Orica Limited (Australia), Barnes Group (US), DYWIDAG-Systems International (Germany), Rawlplug (Poland), Bohle AG (Germany), Sormat OY (Finland), Fischer Holding GmbH & CO. (Germany), Liebig. (France), Hexion Inc. (US).


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