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Waterborne Epoxy Resins Market

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The global waterborne epoxy resins market was valued at US$ 2,764.0 Mn in 2018, and is expected to register a CAGR of 7.7% in terms of revenue over the forecast period, to reach US$ 5,370.1 Mn by 2027.
Waterborne Epoxy Resins Market Size, Share, Outlook,
and Opportunity Analysis, 2018 - 2026
Waterborne epoxy resins are widely used due to their low volatile organic compound (VOC)
emission. These resins offers a high degree of compatibility with several components and
have the capacity to get formulated with wetting agents, co-solvents, and additives in order to
achieve formulations for superior adhesion to substrate high cure corrosion resistance.
Waterborne epoxy resins are used in several applications such as adhesives, coatings,
composites, and others.
The global waterborne epoxy resins market is expected to witness substantial growth during
the forecast period (2019- 2027), owing to increasing demand for eco-friendly products.
Among application, in 2018, the coatings segment held dominant position in the global
waterborne epoxy resins market. The segment accounted for over 50.0% of the revenue share
in the overall market, in 2018. Increasing use of waterborne epoxy resin as protective coating
in concrete, automotive metal, and marine applications and pipe and coil to withstand
corrosive and humid environment is expected to aid in growth of this segment in the market.
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Water-based epoxy resins are also used in manufacturing of composites. Composite materials
are used in the preparation of automotive, aerospace, and wind mill components. Structural
and marine composites are manufactured by incorporating waterborne epoxy resins to
enhance their performance.
Increasing awareness about carbon emissions and growing fuel crisis is shifting consumer
demands towards lightweight composite materials in aerospace and automotive industries,
which in turn is expected to have positive impact on growth of the composites segment over
the forecast period.
Governments of various countries have implemented stringent regulations on the use of
volatile organic compounds in epoxy coatings, which is predicted to adversely impact the
environment. This is a major restraint for growth of the global waterborne epoxy resin
market. The US Environmental Protection Agency (EPA), Ozone Transport Commission
(OTC), California Air Resources Board (CARB), and South Coast Air Quality Management
District (SCAQMD) have set restrictive limits on the Volatile Organic Compound (VOC)
content in architectural and industrial maintenance coatings. According to EPA, limit for
exterior coatings has been set as 250 gm of VOC per Liter.
The global waterborne epoxy resins market was valued at US$ 2,764.0 Mn in 2018, and
is expected to register a CAGR of 7.7% in terms of revenue over the forecast period, to
reach US$ 5,370.1 Mn by 2027.
Asia pacific accounted for the largest market share in the global waterborne epoxy resins
market in 2018. The regional growth is driven by increasing usage of epoxy resins in various
end-use industries such as construction and automotive together with growth of these
industries in the region. According to Organization for Economic Co-operation and
Development (OECD), the construction market in Asia Pacific is expected to witness a
growth rate of 7-8% during 2017 to 2025, in order to reach US$ 5.36 trillion by 2025,
accounting for around 60.0% of the global construction industry.
Among end-use industries, the construction segment accounted for the largest revenue share
of around 33% in 2018 in the global waterborne epoxy resins market. In the construction
industry, waterborne epoxy resins are used in coatings due to their high chemical resistance
property combined with high gloss and hardness. Ease of penetration into small cracks and
high bonding to concrete are some of the important factors that are driving demand for
waterborne epoxy resins for concrete coatings.
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According to the U.S. Department of Housing and Urban Development, the annual rate of
privately owned housing start in September 2017 increased by 10.3% as compared to
September 2016. Such growth in construction activities is creating positive environment for
growth of the segment.
Major players operating in the global waterborne epoxy resins market include, Hexion Inc.,
Dow Chemical Company, Aditya Birla Chemicals Co. Ltd., Huntsman Corporation, BASF
SE, Royal DSM N.V., Eastman Chemical Corporation, Conren Limited, Gellner Industrial
LLC, and AllCoat Technology Inc.
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