Growth of the Construction Sector to Drive Global Water-based Resins Market

Water-based resins or waterborne resins are additives used in coatings to increase its corrosion resistance power and shelf life. These resins contain properties of good pigmentation, fast drying, and excellent shine when used in industrial or interior and exterior paints. Different types of water resins are polyurethane resin, epoxy resin, epoxy ester resin, saturated resin, and water-based acrylic resin. Market Research Future (MRFR) has compiled a report on the The water-based resins market is estimated at USD 38.89 billion in 2021 and is projected to reach USD 52.69 billion by 2028, at a CAGR of 6.9% from 2022 to 2028.

Market Scope

The Global Water-Based Resins Market is poised to touch a high valuation by the end of 2023. The use of these resins in stain blocking primers, materials used in blocking stains, for prevention and corrosion and its application in sealants, concrete floor coatings, and impact resistant wood can drive the market demand exponentially. Additional factors include environmental restrictions on volatile organic compounds and rapid urbanization are bound to fuel market growth. Water-based resins are comparably environmentally friendly due to the low content of VOCs.

The growth of the construction industry will be a boon for the market and drive the demand for water-based resins. The boom in the population and industrialization are other growth drivers which can trigger the demand in the global water-based resins market. The painting industry uses these resins to improve shelf life, color retention, and gloss of paints.

Acrylic resins are in high demand due to better chemical and physical resistance levels. They can replace solvent resins due to environmental regulations. Countries such as China and the U.S. have increased the number of regulations to keep VOC levels in check. The Air Pollution Prevention and Control Action Plan rolled out by the Chinese government in 2015 can regulate VOC level across packaging, printing, coating, and chemical industries. Efforts by governments to build additional houses for the poor is likely to augur favorably for the global water-based resins market.

Segmentation

The Global Water-Based Resins Market has been categorized by type and application.

By type, the Global Water-Based Resins Market has been divided into acrylic resin, epoxy ester resin, saturated polyester resin, epoxy resin, polyurethane resin, alkyd resin, and others.

Based on application, the Global Water-Based Resins Market has been segregated into paints and coatings, adhesives and sealants, inks, leather, and others.

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Regional Analysis

The Global Water-Based Resins Market has been studied with respect to five key regions—Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa (MEA).

APAC accounted for the largest share in the Global Water-Based Resins Market in 2017 due to the growing population and continuous rapid rate of industrialization. Investment of companies in this region for the setup of facilities or units is likely to drive the market growth. The incremental rise in construction projects can bode well for the market.

The North America water-based resins market is expected to grow due to technological advances in the paints & coatings industry. Strict environment regulations and the high demand for architectural coatings are main drivers of the market in this region.

Europe can exhibit a stellar market demand due to undertaking of renovation projects in Russia, Germany, and France. On the other hand, the MEA region can experience an upheaval in demand due to infrastructural projects.

Competitive Outlook

BELIKE Chemical, DIC Corporation, Arakawa Chemical Industries Ltd, Vil Resins, DowDuPont, the Lubrizol Corporation, Lawter Inc., BASF SE, Royal DSM NV, Arkema, KITO Chemical Co. Ltd, Hexion, and Allnex Groupare prominent players of the global water-based resins market. Players in the market are incorporating expansions, joint ventures, product launches, and investments in R&D. For instance, BASF expanded its water-based resin production capacity by establishing a plant in the Netherlands.

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