SEATTLE--(BUSINESS WIRE)--The global waterborne epoxy resins market was valued at US$ 2,764.0 Mn in 2018, and is projected to exhibit a CAGR of 7.7% over the forecast period (2019 – 2027), in terms of revenue.
Key Trends and Analysis of the Waterborne Epoxy Resins Market:
The waterborne epoxy resins market is expected to witness substantial growth over the forecast period. Factors such as increasing demand for waterborne epoxy resins in various end-use industries such as construction, automotive, textiles, and packaging are fueling growth of the global waterborne epoxy resins market.
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Waterborne epoxy resin-based coatings are mainly used in construction applications such as concrete coatings due to their excellent chemical & mechanical resistance, high bonding nature, good shear stress stability, and excellent wetting performance. Moreover, these resins are used in preparation of structural lightweight composite materials. Growing demand for high performance coatings in residential and non-residential infrastructures is expected to drive the growth of the global waterborne epoxy resins market over the forecast period.
Technological advancements in waterborne epoxy resin products is further expected to boost the revenue for waterborne epoxy resins market over the forecast period. For instance, in 2015, Dow Chemicals developed novel acrylic-epoxy hybrid technology for concrete coating application, especially used for green buildings in commercial and institutional architecture that cures quickly, resists yellowing in the presence of natural light, and is durable.
However, stringent regulations imposed on the limited use of volatile organic solvents is predicted to hinder growth of the waterborne epoxy resins market over the forecast period.
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Key Market Takeaways:
- The global waterborne epoxy resins market is expected to exhibit a CAGR of 7.7% during the forecast period in terms of revenue. The market for waterborne epoxy resins is expected witness growth, owing to increasing infrastructural improvements in regions such as Asia Pacific and Middle East.
- Among product form, the solid segment accounted for the largest share of 58%, in terms of revenue in 2018. Solid epoxy resin dispersions are mainly used for industrial maintenance coatings on both metal and concrete substrates. These have high adhesion, high stability, and moderate particle size properties and can be used in the textile industry for fiber sizing and non-woven applications.
- Among regions, Asia Pacific held dominant position in the waterborne epoxy resins market in 2018. The market in Asia Pacific accounted for about 46.0% share, in terms of the revenue in 2018. The regional growth is driven by rapid growth of the construction and automotive industries in emerging economies such as China, Indonesia, and India. Moreover, increasing demand for waterborne epoxy composites from automotive and transportation industry is expected to generate high revenue for the market.
- Key players operating in the global waterborne epoxy resins market include, Hexion Inc., Dow Chemical Company, Aditya Birla Chemicals Co. Ltd., Huntsman Corporation, BASF SE, Royal DSM N.V., Eastman Chemical Corporation, Conren Limited, Gellner Industrial LLC, and AllCoat Technology Inc.
- Key players operating in the industry are undertaking various strategies such as mergers & acquisitions and product development in order to expand their global presence and product portfolio. For instance, in 2017, Hexion Inc. launched two new waterborne epoxy resins, EPI-REZ Resin 6521-WH-56 and EPI-REZ Resin 6531-WH-57, to create environmentally-compliant coatings with excellent adhesion to both metals and non-metals.
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