The global waterborne epoxy resins market was valued at US$ 2,764.0 Mn in 2018, according to Waterborne Epoxy Resins Market Report, by Product Form (Liquid, Semi-Solid, and Solid), by Molecular Weight (Low Molecular Weight and High Molecular Weight), by Application (Adhesives, Coatings, Composites, and Others), by End-use Industry (Construction, Automotive, Textile, Packaging, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights.
The global waterborne epoxy resins market is projected to reach US$ 5,370.1 Mn by 2027, exhibiting a CAGR of 7.7% during the forecast period (2019-2027). The market is expected to witness substantial growth over the forecast period, attributing to increasing investment in residential and non-residential infrastructure development coupled with technological advancements in waterborne epoxy resins products.
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Growing government investments in corporate and commercial infrastructure development is expected to potentially drive demand for waterborne epoxy resins. For instance, in 2015, the Indian Ministry of Road Transport, Highways, and Shipping announced a target investment of US$ 376.53 Mn in infrastructure sector by 2018. This in turn, would create a highly conducive environment for growth of the market.
Furthermore, increasing preference towards waterborne epoxy resins is expected to drive the market growth over the forecast period. Waterborne epoxy coatings & floorings are increasing being used due to advantages such as low content of volatile organic compounds (VOCs), low odor intensity, non-flammable or non-combustible nature, ease of re-coat & clean up, and fast drying. End-users are preferring waterborne epoxy resins for various applications, owing to these properties such as paints & coatings, composites, and electronic applications.
Favorable growth of the construction industry along with increasing demand for waterborne epoxy resins in the textile industry is expected to offer impetus growth opportunities to the players operating in the waterborne epoxy resins market over the forecast period. Waterborne epoxy resins are used in the textile industry for high performance applications such as fiber sizing, fiber adhesive treatment, fabric finishes, textile binding, and adhesion promoting. The demand for waterborne epoxy resins is increasing in disposable non-woven textile products, owing to low VOC contents. Asia Pacific, Europe, and North America are major markets for textiles, which in turn is expected to create growth opportunities for waterborne epoxy resins manufacturers in these regions.
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Browse 286 market data tables* and 110 figures* on “Waterborne Epoxy Resins Market” – Global forecast to 2027.
Key Takeaways of the Market:
Among applications, the coatings segment accounted for the highest revenue share in the global waterborne epoxy resins market in 2018, and the trend is expected to remain same over the forecast period. Properties such as high chemical and mechanical resistance, corrosion resistance, good adhesion, and ease of handling and processing are bolstering demand for waterborne epoxy resin systems for coating applications.
Asia Pacific accounted for the revenue share of over 45% in the global waterborne epoxy resins market in 2018, and is predicted to maintain its dominance over the forecast period. This is owing to significant growth of end-use industries such as automotive and construction coupled with increasing use of epoxy resins in these industries. According to Oxford Economics’ report published on Global Construction Perspectives in 2016, the global construction industry is expected to witness a growth rate of 85.0% to reach US$ 15.5 trillion worldwide by 2030, with the U.S., China, and India accounting for 57.0% of the global growth.
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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Key players in the market are focused on adopting acquisition strategies to enhance their market share. For instance, in May 2017, Hunstman Corporation acquired IFS Chemicals Limited, one of the U.K.’s major independent formulators of methylene diphenyl diisocyanate (MDI) based systems.
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