Global Water-Based Resins Market was valued at US$ 36.55 Bn in 2019 and is expected to reach US$ 59.58 Bn by 2027, at a CAGR of 5.5 % during a forecast period.
Global Water-Based Resins Market, by Region
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding water-based resins market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in water-based resins market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Water-Based resins are usually found in coatings, such as water-borne coatings, water reducible coatings consisting of latex products and the synthetic polymer based products. They are easily dissolve in water as they undergo polymerization and poly-condensation reactions as can be used in conventional application techniques and by spraying. This yields an outstanding surface finish and protection.
The demand of the water-based resins market can be attributed to the increasing growth of the paints and coatings and adhesives and sealants applications. Governments of various economies have stringent regulations for permissible amounts of Volatile organic compounds (VOCs). This has affected a reduction in the use of solvent-based technology and promoted the use of water-based technology. Therefore growth in urbanization and stringent environment restrictions on the use of VOCs is likely to boost the growth and demand of the market during the forecasted period.
Increasing shift toward environmentally-friendly products and increasing demand for composites are the major drivers of the water-based resin market. The benefits for using water based resins in polymer industry are they improved adhesion to non-porous surfaces, excellent finish, superior hardness, longer storage stability and improved flow and solubility. The more cost and low performance of water-based resins are the restraining factor of the water based resin market. The advancements in innovative technology have allowed the coating industry to produce more environmentally friendly and toxic-free coating like our Ecodur, it is a solvent and toxic-free and has superior adhesion properties and high chemical resistance.
Based on type, Acrylic resins are the most varied resin type. They are used in adhesives & sealants applications extensively. The demand for water-based acrylic resins increased as they offer better chemical and physical resistance ensuring a longer lifespan of the material they are applied to. Water-based acrylic resins are anticipated to completely replace solvent-based acrylic resins soon in the paints & coatings application owing to environmental regulations regarding the VOC emissions.
Based on end-use industry, water based resins are widely used in the paints & coatings industries. Coatings is the dominant application accounts more than 50% of market share. Coatings demand has been mostly because of growing construction industry in Asia Pacific nation like China and India which are providing opportunities for the water resins market.
Asia-Pacific holds a largest share of the global water-based resins market in 2017 due to rapid urbanization and expanding population in the region. Increasing construction activities and major companies from other region shifting their production centers to Asia-Pacific are also expected to fuel market growth in the region.
North America is another major market for water-based resins due to the technological advancements in the paints and coatings industry & stringent environmental regulations for the use of zero-emission coatings in the region. The increasing demand for the product in architectural coatings is anticipated to drive the growth of the regional market.
The Scope of Global Water-Based Resins Market:
Global Water-Based Resins Market, by Type:
Global Water-Based Resins Market, by Application:
- Paints & Coatings
- Adhesives & Sealants
Global Water-Based Resins Market, by Region:
- North America
- Middle East & Africa
- Asia Pacific
- South America
Key Players Operating In Global Water-Based Resins Market
- Allnex Group
- The Lubrizol Corporation
- Royal DSM N.V.
- DIC Corporation
- Covestro AG
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