The global Waterborne Epoxy Resins Market is estimated to be valued at US$ 3,173.7 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 extensively used as high performance protective coatings for materials in various end-use industries like building & construction, automotive, packaging, marine and others. They offer features like adhesion, non-toxicity, corrosion resistance and flexibility.
Market key trends:
One of the key trends in the waterborne epoxy resins market is the growing demand from the packaging industry. Packaging manufacturers are increasingly adopting waterborne epoxy resins for food contact applications due to stringent regulations banning volatile organic compounds (VOCs) in packaging materials. Waterborne epoxy resins help manufacturers meet such regulatory guidelines while providing high performance protective coatings solutions with good adhesion and corrosion resistance properties. This trend is expected to drive the demand for waterborne epoxy resins in the packaging industry during the forecast period.
Waterborne epoxy resins market is segmented into application and region. By application, the paints and coatings segment dominated the global market in 2022 and is expected to remain dominant over the forecast period. Paints and coatings application accounted for more than 60% of total market share in 2022 owing to increasing usage of waterborne epoxy resins in wide range of paints and coatings formulation such as automotive, marine, industrial and architectural coatings to provide excellent chemical and corrosion resistance.
The global waterborne epoxy resins market size was valued at US$ 3,173.7 Mn in 2022 and is expected to reach US$ 5,500 Mn by 2030, exhibiting a CAGR of 7.73% over the forecast period. The high growth can be attributed to increasing demand from paints and coatings industry owing to superior properties offered by waterborne epoxy resins such as excellent adhesion, chemical resistance and durability.
Asia Pacific dominated the global market in 2022 and accounted for more than 40% of the total market share. China dominated the Asia Pacific regional market. Rapid industrialization and urbanization along with growing construction activities in China, India and other Asian countries is expected to drive the demand for waterborne epoxy resins in the region. North America is expected to witness highest CAGR over the forecast period owing to increasing usage of waterborne epoxy resins in wide range of end use industries such as automotive, marine, industrial etc. in the region.
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. The market is highly consolidated with top five players accounting for over 50% of total market share.
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