Multiple Applications Driving Strong Growth for Waterborne Epoxy Resins
Asia-Pacific held a dominant regional position in the waterborne epoxy resins market in 2018.
The global waterborne epoxy resins market was valued at nearly $2.8 billion in 2018, according to a report from Coherent Market Insights, and is projected to exhibit a CAGR of 7.7% from 2019-2027 (in terms of revenue). Increasing demand in end-use industries such as construction, automotive, textiles, and packaging are fueling growth for the global waterborne epoxy resins market.
Waterborne epoxy resin-based coatings are mainly used in construction applications such as concrete coatings due to their excellent chemical and mechanical resistance, high bonding nature, good shear stress stability, and excellent wetting performance. In addition, 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 are further expected to boost the revenue for waterborne epoxy resins market over the forecast period, though stringent regulations imposed on the limited use of volatile organic solvents is predicted to hinder growth.
Among product forms, the solid segment accounted for the largest market share (58%) in 2018, in terms of revenue. 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.
Asia-Pacific held a dominant regional position in the waterborne epoxy resins market in 2018. The market in Asia-Pacific accounted for about 46% market share, in terms of the revenue in 2018. Regional growth is driven by increasing demand from the construction and automotive industries in emerging economies such as China, Indonesia, and India. Moreover, increasing demand for waterborne epoxy composites from the transportation industry is expected to generate high revenue for the market.
Additional details are available at www.coherentmarketinsights.com.