LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global waterborne epoxy resins market is expected to grow at a CAGR of almost 8% during the forecast period.
This research report titled ‘Global Waterborne Epoxy Resins Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global waterborne epoxy resins market is driven by the increasing shift towards eco-friendly products. This shift is due to increasing environmental concerns and governmental regulations, which support the increasing use of eco-friendly products. These products do not release any volatile organic compounds (VOC) during the curing process that is carried out with ultraviolet light. With a mission to move towards zero harmful emissions, waterborne epoxy resins will witness high adoption rates in the forecast period.
Other important drivers are the growing need for durable resins with increased performance and aesthetics, and a high growth in construction and automotive segments. These factors are expected to push the market valued at USD 810 million in 2016 to USD 1189 million by 2021.
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Based on application, the report categorizes the global waterborne epoxy resins market into the following segments:
The top three revenue generating application segments in the global waterborne epoxy resins market are discussed below:
Waterborne epoxy resins are widely used in various coating applications such as architectural coatings, wood coatings, furniture coatings, plastic coatings, and printing inks. The important advantages that comes with using waterborne epoxy resin in coating applications include low levels of volatile organic compound (VOC), decreased flammability, reduced odor, and improved safety. Additionally, these coatings cost lesser, and require no additives, hardeners, or thinners. Waterborne epoxy resins are slowly establishing themselves as the first choice for formulators in market segments such as transportation, floor coatings, and industrial maintenance applications for high-performance asset protection.
“The increasing use of coating in the electrical and electronic industry is contributing to the high growth rate of waterborne epoxy resins market. Also, low VOC emission, long pot life, good adhesion, and good impact resistance are the various advantages that are contributing to the increase in the consumption of waterborne epoxy resins globally,” says Swapnil Tejveer Sharma, one of the lead analysts at Technavio for plastics, polymers, and elastomers research.
The adhesives segment of the waterborne epoxy resins market will be the fastest growing segment in the market, with a projected CAGR of 8.31% during the market forecast period. Waterborne epoxy resins perform well as adhesives in industries involving metal, wood, heavy duty industrial machinery, boat building facilities, and refineries. Since these resins are extremely compatible with other thermoset resins, it allows for formulators to combine two or more resins and dilute it with plain water to desired consistency. This is a key advantage of waterborne epoxy resins in the adhesives segment.
Another advantage of its high degree of compatibility with components like fillers, coupling agents, and defoamers, is that they can be formulated with wetting agents, co-solvents, and coupling agents for improved film formation or adhesion. Waterborne epoxy resin adhesives are used in construction, automotive, and textile end-user industries, due to high thermal stability and wear and tear resistance properties.
“Waterborne epoxy resins as composites are used in various end-user industries such as construction, furniture, and automotive. Composite materials have high strength, thermal resistance, and mechanical properties. Composite 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,” says Swapnil.
Waterborne epoxy resins based composites usually display high flexibility, are lightweight, and provide high electromagnetic interference. Owing to the high prices of raw materials and high processing costs, the market size of composites is displaying a slightly lower growth rate when compared to other segments, with a CAGR of 7.61% in the market forecast period.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Aditya Birla Chemicals
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