Water-borne Epoxy Resins Market Overview
waterborne epoxy resins market to grow from USD 2.54 billion in 2016, and projected to reach USD 4.31 billion by 2022, registering a CAGR of 9.1% from 2017 to 2022
Waterborne Epoxy Resin Industry are substances which can dissolve easily in water. Its properties of durability, high selectivity, and ease of separation can fuel its demand in the production of composites, coatings, adhesives, and others. The global water-borne epoxy resins market report by Market Research Future (MRFR) compiles historical data and current trends for prediction for future developments and challenges to avoid for the period of 2017 to 2023 (forecast period). The lag in production chains due to the outbreak of the COVID-19 pandemic has been included in the report.
Water-borne Epoxy Resins Market Scope
The global water-borne epoxy resins market is predicted to enjoy an impressive growth during the forecast period owing to new regulations pertaining to the protection of the environment. The inclination towards green products is an indicator of the changing winds of consumer preferences and will bode well for the market. Restrictions on volatile organic compounds (VOCs) and the use of organic formulations can fuel the market demand.
But the development of lightweight and fuel-efficient vehicles can present a novel opportunity of growth for the global water-borne epoxy resins market. The use of adhesives and sealants produced from these resins can forego the use of fasteners and other metal components and curb unnecessary costs.
However, fluctuations in crude oil prices can hamper market growth.
Water-borne Epoxy Resins Market Segmentation
The global water-borne epoxy resins market is segmented into type, application, and end-use.
Major applications include composites, coatings, and adhesives. Coatings are poised to grow at an impressive growth rate during the forecast period due to its use in colloidal coatings and latex paints.
On the basis of type, the market is divided into high molecular weight and low molecular weight resins. Low molecular weight resins are expected to lead in the market till the end of the forecast period due to abrasion resistance and quick drying properties. Its consumption in automotive, textile, and construction sectors can drive the segment growth.
The market by end-use is further categorized into packaging, construction, textiles, automotive, furniture, and others. The construction segment is predicted to hold a major share in the market owing to massive infrastructural projects in developing economies.
Water-borne Epoxy Resins Market Regional Analysis
The water-borne epoxy resins market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, APAC holds a major market share due to the ongoing demand for epoxy resin manufacturers in coatings, adhesives, composites, and others. Countries such as China, Japan, South Korea, and India are the major players in this market. Presence of large electronic hubs and demand for consumer electronics can augur favorably for the global market.
North America is predicted to display a massive growth rate due to the growing demand for epoxy coatings in construction, paints & coatings, automotive, and other industries. The growing investment in these industries can drive the demand for water-borne epoxy resins. The growing consumption in end-use applications has propelled the growth of the global market in countries of the U.S, Canada, and Mexico.
Europe is projected to expand at a healthy growth rate during the assessment period. It is driven by applications of water-borne epoxy resins in automotive, aerospace, and oil & gas industries. Moreover, it is estimated that increase in quick-drying and other properties of water-borne adhesives can fuel the regional market demand.
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Competitive Outlook
Olin Corporation, Huntsman Corporation, Reichhold LLC, Aditya Birla Chemicals, Ltd., KUKDO CHEMICAL CO, LTD, Allnex GmbH, Evonik Industries AG, Hexion, Nan Ya Plastics Corporation, and ADEKA CORPORATION are key players of the global water borne epoxy resins market.
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