Waterborne Epoxy Resins Will Grow From USD 2.39 Billion In 2021 And Is Predicted To Reach USD 4.97 Billion In 2026, Registering A Compound Annual Rate Of 9.5% From 2021 To 2026.
The market is driven by the increase of strict environmental regulations, the expansion of the construction industry, and a growing shift towards green and environmentally friendly products. However, mature markets in Europe and North America are predicted to limit expansion to some extent. Waterborne epoxy resins are substances made up of individual molecules that have the ability to dissolve in water. They are employed in end-use industries for their non-reactive nature and ease of application. Furthermore, its ease of separation, selectivity, durability and superior performance are the important trends and factors influencing the market with confidence. Hence, they are employed in various applications such as coatings, adhesives, composites, and others.
Among the various segments of the waterborne epoxy resins market, the low molecular weight subsegment is the main type employed in the market and is predicted to continue to dominate during the evaluation period. They are widely employed in end-use industries due to their excellent resistance to abrasion, quick-drying, easy mixing, among other properties. Furthermore, its growing consumption in construction, textile, automotive and others is predicted to drive the market over the next two years. The coating subsegment is predicted to grow at a significant rate due to its unlimited use in latex paints, colloidal coatings and the like.
Columbus, Ohio - Hexion Inc. will launch two new waterborne epoxy resins at the European Coatings Show in Germany. These unlabeled low volatility organic compound (VOC) resins allow the manufacture of high-performance waterborne coatings at a competitive cost.
Escalating consumption of the product in coatings, composites and adhesives is predicted to drive the market during the foreseen period. The end-use market is divided into construction, textile, automotive, furniture, packaging, and others. The construction segment has a large market share due to the acceleration of infrastructure development and the consequent increase in the number of activities in the sector. Additionally, a growing call for the product in the textile, automotive, furniture, packaging and other sectors is predicted to drive the market during the foreseen period. Due to escalating industrialization, the call for coatings and paints has escalated dramatically, which will boost the product market. Escalatingcall from the aerospace and wind power industries is predicted to increase call for the product over the foreseen period. As environmental legislation becomes stricter in various countries, waterborne coatings have become popular in industrial coatings, which will boost the product market. Another important factor in the inclination of the product market is its low emission of volatile organic compounds (VOCs).
The cost of waterborne epoxy resins has been a major concern for many industries for the past decade. The prices of waterborne epoxy resins are high compared to epoxy resins. In contrast, the production of bisphenol A and novolac resins is still very low. These fibers are widely employed as composites, coatings, and adhesives in various end-use industries, including construction, automotive, and marine. Since the production of waterborne epoxy resins is quite low, this is the main obstacle in the market for waterborne epoxy resins.
Continuous developments in the automotive and transportation sectors have created a great call for light and fuel-efficient vehicles. To make cars light and fuel efficient, companies must use different lightweight materials such as aluminum, steel, composites, or plastics to give them the best opportunity for weight reduction. The use of adhesives allows less use of fasteners, such as welds, rivets or bolts, on a vehicle. Adhesives and compounds help reduce the extra weight that these metal bodies and fasteners would add to vehicles. In addition, the use of these high-quality materials and adhesives increases the impact and impact resistance of vehicles, making them much safer in the event of an accident. These nascent opportunities are said to create high call for the waterborne epoxy resin market during the foreseen period.
Another factor contributing to the higher prices of waterborne epoxy resins is the generation of matrices; the production of a matrix requires expensive batch processes at high temperatures under a controlled atmosphere. The prices of waterborne epoxy resins are high compared to epoxy resins. On the other hand, the production of alternatives to bisphenol A and novolac resins is still very low. Since the production of waterborne epoxy resins is quite low, this is the main obstacle in the market for waterborne epoxy resins.
Low molecular weight waterborne epoxy resin is the fastest-growing type of waterborne epoxy resin employed in the world. They are widely employed for coatings, adhesives, and composites. They offer relatively good abrasion resistance, improved dry performance, easy mixing and low odor.
The market for waterborne epoxy resins in the adhesive application is predicted to experience the highest expansion due to expansion in the building and construction industry and escalated government investment in infrastructure projects.
By end-use industry:
The construction segment has a significant market share due to the acceleration of infrastructure development and the consequent increase in the number of activities in the sector.
Among them, Asia Pacific has a large market share due to the growing call for waterborne epoxy resins in coatings, adhesives, composites and others. The coatings segment has a significant share and is predicted to continue to dominate the market due to the increase in product consumption, which has led to an increase in call for waterborne coatings in end-user industries. Therefore, countries like China, Japan, South Korea and India are the main players in this market. Asia-Pacific has always been a strong market for waterborne epoxy resins and, worldwide, this market has been a leader in waterborne epoxy resins in terms of call.
This region has the presence of the largest and fastest-growing economies in the world, namely China and India. It has a relatively high expansion rate due to its large market size and rapid economic activity compared to other regions. Call in this region is mainly driven by the expansion of the waterborne epoxy resin end-use industries. The North American region is experiencing significant expansion due to the escalating call for epoxy coatings in paint and coatings, automotive, construction, and other industries. Escalated investments in end-use industries are predicted to drive the market over the foreseen period. The escalating consumption of epoxy resins in end-use applications has driven expansion in countries such as the United States, Canada and Mexico to achieve surprising expansion in the market, as they offer a unique capacity of separation, recycling and high-level performance for the product.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 High Molecular Weight
5.1.3 Low Molecular Weight
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2.8 Y-o-Y Growth Analysis, By Application
5.2.9 Market Attractiveness Analysis, By Application
5.2.10 Market Share Analysis, By Application
5.3 End-use Industry
5.3.7 Y-o-Y Growth Analysis, By End-use Industry
5.3.8 Market Attractiveness Analysis, By End-use Industry
5.3.9 Market Share Analysis, By End-use Industry
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
188.8.131.52 By End-use Industry
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 End-use Industry
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
184.108.40.206 By End-use Industry
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Air Products & Chemicals Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 The Dow Chemical Company
8.3 Reichhold Industries Inc.
8.4 3M Company
8.5 BASF SE
8.6 Hexion Inc
8.7 Kukdu Chemicals Co. Ltd
8.8 Huntsman Corporation
8.9 Eastman Chemical Company
8.10 Gellner Industrial LLC
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures