According to the latest market research study released by Technavio, the global waterborne epoxy resins market is expected to grow at a CAGR of close to 8% during the forecast period 2017-2021.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global waterborne epoxy resins market based on application:
Global waterborne epoxy resins market share by application 2016
|
Coatings |
55.2% |
|
Adhesives |
23.5% |
|
Composites |
15.1% |
|
Others |
6.2% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Global waterborne epoxy resins market for coatings
The global waterborne epoxy resins market for coatings was valued at over USD447 million in 2016 and is expected to grow at a CAGR of almost 8% by 2021. These resins have various applications that include architectural coatings, wood coatings, furniture coatings, plastic coatings, and printing inks. The extensive use of these resins for coatings in various industries will help in the growth of this market segment. The waterborne epoxy resins are used as binders in industrial coatings for ships and chemical storage tanks. These resins as binders give the painted surface and excellent adhesion together with high chemical and physical resistance.
“The increasing use of these coatings in the electrical and electronic industry will boost the demand for this product in the market. The factors like low levels of VOC, decreased flammability, reduced odor, and improved safety makes these resins a popular choice for coatings in different industries. Furthermore, these coatings do not require any additives, hardeners, or thinners making it more cost effective. These resins are the first choice for formulators in market segments such as transportation, floor coatings, and industrial maintenance applications for high-performance asset protection,” says Swapnil T S, a lead analyst at Technavio for research on plastics, polymers, and elastomers.
Global waterborne epoxy resins market for adhesives
The global waterborne epoxy resins market for adhesives was valued at close to USD191 million in 2016 and is expected to grow at a CAGR of more than 8% by 2021. The extensive use of these resins in the construction, automotive, and textile end-user industries will contribute to the growth of this market segment. These materials are most commonly used as adhesives due to high thermal stability and wear and tear resistance properties. Waterborne epoxy resins perform as good adhesives for applications such as metal, wood, heavy duty industrial machinery, boat building facilities, steel plants, and refineries. These resins are highly compatible with other thermoset resins and allow the formulators to combine molecular weight and can be diluted to any desired solution level simply with water.
Global waterborne epoxy resins market for composites
The global waterborne epoxy resins market for composites was valued at around USD122 million in 2016 and is expected to grow at a CAGR of over 7% by 2021. Waterborne epoxy composites are highly flexible, lightweight, and provide high electromagnetic interference resulting in the growth of this market segment. This form of the composite is used in various end-user industries that include construction, furniture, and automotive. The materials with glass fibers or carbon fibers are electrodeposited with a range of copolymers such as CNC, which provides high tensile strength to the waterborne epoxy resin based composites.
The top leading vendors operating in the global waterborne epoxy resins market are:
- Aditya Birla Chemicals
- Allnex
- Hexion
- Huntsman
- Olin
Other prominent vendors in the market include Air Products and Chemicals, Incorez, KUKDO Chemical, NAN YA Plastics Industrial, and Reichhold.
A more detailed analysis is available in the Technavio report titled, ‘Global Waterborne Epoxy Resins Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Protective Coatings Market 2016-2020
- Global Waterborne Industrial Coatings Market 2015-2019
- Global UV-cured Powder Coatings Market 2015-2019
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