Waterborne Epoxy Resins Market Continues To Grow With Rise in Demand from Various End-Use Industries

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.