by The waterborne epoxy resins market has witnessed substantial growth in recent years owing to increased demand from the construction industry. Waterborne epoxy resins provide excellent characteristics like high strength, durability, and resistance to various chemicals for flooring and coating applications. These resins protect surfaces against corrosion, moisture, and bacterial growth.
The Global waterborne epoxy resins market is estimated to be valued at US$ 3938.73 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Waterborne epoxy resins are extremely useful for flooring materials, primers, sealants, protective coatings, and metal coatings. They provide glossy and durable finish to substrates used for industrial and commercial purposes. Rapid industrialization and infrastructure development activities have significantly increased the demand for protective and durable construction materials. This rising end-use demand is the primary factor augmenting market growth.
Key Takeaways
Key players operating in the waterborne epoxy resins 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, and Astellas Pharma.
The key opportunities in the market include developments of bio-based and green waterborne epoxy resins. Strict environmental regulations regarding VOC emissions from solvent-based resins are encouraging manufacturers to develop sustainable product alternatives. Growing construction of green buildings provides an impetus to eco-friendly waterborne epoxy resin formulations.
The Global Waterborne Epoxy Resins Market Demand is expanding rapidly across North America, Asia Pacific, and European regions. Countries like China, India, Germany, the UK, and the US are witnessing increasing demand from protective coatings, flooring, and composites industries. Major players are investing in emerging markets to tap the high market potential.
Market drivers
The increasing demand from the construction industry remains a key growth driver for the market. Rapid urbanization and growing infrastructure development programs worldwide are augmenting the construction of commercial buildings, bridges, roads, and warehouses. Waterborne epoxy resins provide excellent corrosion and chemical resistance making them suitable for flooring and protective coating applications in various construction projects. Their ease of use, low odor, and low VOC emissions also favor the adoption in the construction industry. Strong focus on infrastructure development across major economies will continue driving the product demand over the forecast period.
PEST Analysis
Political: Waterborne epoxy resins market is positively impacted by government regulations which aims to reduce VOC (Volatile Organic Compounds) emissions. Stringent environmental policies are encouraging higher adoption of waterborne epoxy resins over solvent-borne resins.
Economic: Growth of end-use industries such as construction and transportation is fueling demand for waterborne epoxy resins. Rapid urbanization and industrial development in emerging economies provide ample growth opportunities.
Social: Increasing consumer awareness about health hazards of solvent-borne coatings is driving preference for waterborne epoxy resins. Strict occupational safety regulations are compelling manufacturers to shift to eco-friendly resins.
Technological: Advancements in polymer and catalyst technologies help address issues related to slow curing and lack of mechanical strength in earlier waterborne formulations. Resin producers are focusing on developing sustainable and high-performance products.
The waterborne epoxy resins market in terms of value is highly concentrated in Asia Pacific region due to growing construction activities, infrastructure development projects and expansion of end-use industries. China dominates the Asia Pacific market followed by other countries like India. The market is also concentrated in North America and Europe owing to stringent environmental regulations for low VOC coatings in these regions.
The fastest growing regional market for waterborne epoxy resins is expected to be Asia Pacific due to significant economic development, rising consumer spending, urbanization and industrialization trends in developing countries like China and India. The presence of a large consumer base and manufacturing hub further positions Asia Pacific as the most lucrative market going forward.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
