Waterborne epoxy resins are widely utilized in protective and advanced coatings application in various end-use industries such as automotive, construction, and marine among others. The resins are lightweight, strong, corrosion-resistant and easy to apply, which makes it a suitable choice as protective and decorative coating on varieties of substrates. The resins offer properties such as excellent adhesion, chemical resistance and high mechanical strength. The coatings provide long-lasting performance and easy to clean surfaces.
The global Waterborne Epoxy Resins Market is estimated to be valued at Us$ 3938.73 Bn in 2023 and is expected to exhibit a CAGR Of 11% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the global waterborne epoxy resins market is the increasing construction activities. Rapid urbanization, rising disposable incomes and growing population are propelling the construction of residential and commercial spaces across the globe. Waterborne epoxy resins are extensively used as protective & decorative coatings in various construction applications such as flooring, wall panels, furniture and others. They provide aesthetically appealing surfaces, resistance from corrosion, chemicals and abrasions. The coatings help prolong the lifespan of building structures. Additionally, tight VOC regulations for low-emitting paints and coatings are favoring the adoption of water-based epoxy resins over solvent-borne types. The resins comply with environmental mandates due to low VOC content. New product innovations catering to application-specific needs by top players will further support the market growth over the forecast period.
SWOT Analysis
Strength: Waterborne epoxy resins are environment-friendly as they contain no or very low levels of volatile organic compounds (VOCs). They have better flexibility and adhesion properties than solvent-borne epoxy resins. Waterborne epoxy resins exhibit excellent chemical and corrosion resistance which makes them suitable for applications in industrial floors, concrete overlay, and more.
Weakness: Waterborne epoxy resins have higher production costs than solvent-borne epoxy resins due to additional processing steps involved. Their curing process is slower as compared to solvent-borne varieties. Limited shelf life is another drawback of waterborne epoxy resins.
Opportunity: Strict regulatory norms aimed at reducing VOC emissions are driving increasing adoption of waterborne epoxy resins across various end-use industries. Growing infrastructure development activities in emerging nations presents considerable opportunities. Research on developing waterborne epoxy resins with faster curing, longer shelf life, and better performance can further boost their uptake.
Threats: Availability of cheaper solvent-borne epoxy resin substitutes can threaten market growth. Fluctuations in raw material prices exert pricing pressure.
Key Takeaways
The Global Waterborne Epoxy Resins Market Demand is expected to witness high growth. The global waterborne epoxy resins market is estimated to be valued at US$ 3938.73 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Asia Pacific dominates the global market and is anticipated to continue its lead over the forecast period. Abundant raw material availability, rapidly expanding construction industry and strict regulations favor waterborne epoxy resins demand.
The waterborne epoxy resins market in North America is fuelled by stringent environmental norms regarding VOC emissions. Recovery in construction activities post Covid-19 pandemic offers promising opportunities. Europe closely follows North America in terms of market size owing to wide acceptance of green building materials.
Key players related content comprises Key players operating in the waterborne epoxy resins market are Novartis, Merck, Roche, Amgen, Pfizer, Sun Pharma, Bristol-Myers Squibb, AstraZeneca, Johnson & Johnson, Valeant, Daiichi Sankyo, Takeda, LEO Pharma, Mylan, Sanofi, Regeneron, Eli Lilly, Bayer, Gilead Sciences, Astellas Pharma.
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