The global Waterborne Epoxy Resins Market is estimated to be valued at US$ 3,173.7 Mn or Mn in 2022 and is expected to exhibit a CAGR of 7.73% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Waterborne epoxy resins are a type of epoxy resin that is dispersed or dissolved in water instead of organic solvents. They are manufactured by adding epoxy monomers to water under alkaline conditions in the presence of an emulsifier or dispersing agent. Waterborne epoxy resins offer several advantages over solvent-borne epoxy resins such as low volatile organic compound (VOC) emissions, non-flammability, better workability, and safety. They are widely used in applications such as coatings, adhesives, and civil engineering where low odor, non-toxic, and environment-friendly characteristics are required.
Market key trends:
One of the key trends witnessed in the global waterborne epoxy resins market is increasing investments in infrastructure development projects. Governments across the globe are heavily investing in building new infrastructure as well as repairing and maintaining existing infrastructure such as roads, bridges, buildings, and energy and transport networks. Waterborne epoxy resins are extensively used as primers, sealers, and floor coatings in construction applications due to their excellent adhesion, corrosion resistance, and chemical resistance properties. Therefore, rising infrastructure development is augmenting the demand for waterborne epoxy resins.
Threat of new entrants: The growth prospects in the waterborne epoxy resins market has attracted several new players. However, high research and development costs required to develop innovative and sustainable products act as a barrier.
Bargaining power of buyers: The presence of numerous global buyers for waterborne epoxy resins gives them higher bargaining power. They can negotiate for better prices and demand customized products.
Bargaining power of suppliers: A few well-established players dominate the supply side. This gives them strong influence over prices of raw materials. However, availability of substitutes provides some counterbalance.
Threat of new substitutes: Alternatives like powder coatings and UV-cured coatings pose competitive threats. However, waterborne epoxy resins have distinct performance advantages over substitutes in certain applications.
Competitive rivalry: The market sees intense competition with major players differentiating through continuous innovations.
The global waterborne epoxy resins market is expected to witness high growth, exhibiting CAGR of 7.73% over the forecast period 2023 to 2030, due to increasing demand from construction and infrastructure development applications. The market size for 2022 was valued at US$ 3,173.7 Mn.
Regional analysis: Asia Pacific dominates the market and is expected to grow the fastest during the forecast period owing to rapid industrialization and infrastructure development activities in China, India, and other developing nations.
Key players: Key players operating in the waterborne epoxy resins market are 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.
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it