Waterborne epoxy resins are synthetic resins which contain low volatile organic compounds and are utilized as adhesives and coatings. They are commonly used as primers, intermediate coats, and topcoats in construction applications due to their excellent adhesion, chemical and corrosion resistance. Rising construction spending both in residential and non-residential sectors has significantly increased the demand for waterborne epoxy resins in flooring, wall covering and other applications.
Key Takeaways
Key players operating in the Waterborne Epoxy Resins are Novartis, Merck, Roche, Amgen, Pfizer, Sun Pharma, Bristol-Myers Squibb, AstraZeneca, Johnson & Johnson, Valeant, Daiichi Sankyo, Takeda, LEO Pharma, Mylan, Sanofi, Regeneron, Eli Lilly, Bayer, Gilead Sciences, Astellas Pharma. These players are focusing on new product launches and innovations to strengthen their global footprint in the waterborne epoxy resins market. Some major opportunities in the market include rising demand from construction industry in emerging countries of Asia Pacific and Latin America. The key players are also expanding their global footprint through strategic acquisitions and partnerships with regional players to capture larger market share.
The global demand for waterborne epoxy resins is driven by increasing construction activities across both developed and developing nations. Rising investment in infrastructure projects such as roads, bridges, airports etc. is fueling the product adoption. Additionally, favorable governmental policies and financial assistance for green building construction will further propel the revenue generation over the forecast period.
However, volatile raw material prices due to supply chain disruptions can hamper the market growth. Stringent environmental regulations regarding VOC emissions may also challenge manufacturers to develop bio-based and sustainable waterborne epoxy resins.
Market drivers:
1. Rising construction spending worldwide
2. Increasing preference for green building materials and low VOC coatings
Market restraints:
1. Volatility in raw material prices
2. Stringent environmental regulations
Segment Analysis
The Waterborne Epoxy Resins Market Growth can be segmented based on end-use industry, type and region. Based on end-use industry, the building & construction industry dominated the global market in 2021 owing to increase in residential & non-residential construction activities across the globe. Waterborne epoxy resins find wide application in flooring, adhesives, protective coatings, etc in construction industry. By type, the high molecular weight epoxy resins segment accounted for major share in 2021 due to increased use in coating applications which require superior performance properties such as durability, chemical & corrosion resistance.
Global Analysis
Regionally, Asia Pacific holds the largest market share and is expected to grow at the highest CAGR during the forecast period. Abundant availability of raw materials and lower production costs have attracted several global manufacturers to set up their production bases in the Asia Pacific region especially in China and India. In addition, growing infrastructure and construction spending in China and India is driving the consumption of waterborne epoxy resins in this region. North America and Europe are also significant markets backed by stringent environmental regulations regarding VOC emissions in these regions. This is resulting in increased adoption of waterborne technologies in various end-use industries.
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