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Waterborne Epoxy Resins Market Continues
To Grow With a Rise in Demand from Various End-Use Industries
Overview:
Compared
to traditional solvent-based coatings, waterborne epoxy resin is eco-friendly.
They provide superior performance characteristics, including corrosion
resistance, electrical properties, mechanical strength, toughness, and
temperature tolerance. These coatings are largely used in the adhesives and
coatings industries. These resins are copolymerized with a large number of
hardeners to develop high-performance coatings for various applications. They
are also used as a structural matrix in aircraft manufacturing. Waterborne
epoxy resin coatings offer excellent chemical and physical properties and are
compatible with a wide range of substrates.
Market Dynamics:
Increasing
growth of end-user industries such as construction and automotive leading to
high demand for these resins is anticipated to augment the growth of the global
waterborne epoxy resins market during the forecast period. Waterborne epoxy
resins produce zero VOCs emissions and due to this reason, the demand for this product
is high in various end-user industries. For instance, as per the
Office for National Statistics, U.K., the monthly output of construction activities
in Great Britain increased by 0.4% in volume terms in September 2022, which is a
consecutive growth from July 2022. Thus, with growing, the construction industry's
demand for these products is also increasing all over the world.
However, the high cost of production of waterborne epoxy resins and volatility in
prices of crude oil is projected to hamper the growth of the global waterborne
epoxy resins market during the forecast period.
Impact of COVID-19:
The
epidemic of Covid-19 affected several industries around the world. Many
countries imposed stringent lockdown regulations for controlling the virus
spread. The global waterborne epoxy resins market was negatively impacted by
the Covid-19 pandemic, as several major market activities were disrupted under
the lockdown regulations. Due to a lack of manpower and supply of raw materials,
product and demand were impacted adversely in the market. Moreover, several
end-user industries were disrupted during the pandemic, which again affected
the waterborne epoxy resin demand.
Key Takeaways:
· The global waterborne epoxy resins market is to grow with a CAGR of XY% during the forecast period, due to a rise in demand from the paint & coatings industry around the world. For instance, in November 2021, Solvay announced the development of Reactsurf 0092, a non-ionic reactive and an alkylphenol ethoxylates-free (APE) water-based emulsifier for solid epoxy resins, primarily to be used in industrial binders or paints and coatings.
·
Asia Pacific is anticipated to witness strong growth in the global
waterborne epoxy resins market during the forecast period. This is due to the robust
presence of major economies such as India and China, and increasing end-user
industries for waterborne epoxy resin across the region.
· Major players active in the global waterborne epoxy resins market are DIC Corporation, Allnex GmbH, Nan Ya Plastics Corporation, Evonik Industries AG, ADEKA Corporation, Huntsman Corporation, Reichhold LLC, Olin Corporation, and Kukdo Chemical Co., Ltd., among others.
