by Waterborne epoxy resins are extensively used in protective coatings that find applications in automotive, construction, industrial, and marine sectors. They are water-based formulations that offer high performance, easier application, low odor, and minimum VOC emissions as compared to solvent-borne coatings. Waterborne epoxy resins provide protection against corrosion and chemicals for concrete floors, metal structures, pipes, and storage tanks. They are commonly utilized in automotive OEM and refinish coatings for durable, scratch and chemical resistant topcoats as well as primers.
The global Waterborne Epoxy Resins Market is estimated to be valued at US$ 3938.73 Billion in 2024 and is expected to exhibit a CAGR Of 11% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing end-use industries such as construction, automotive, and industrial are expected to boost the waterborne epoxy resins market over the forecast period. The construction sector has been witnessing strong growth in developing countries of Asia Pacific and Middle East & Africa, owing to rapid urbanization and industrialization. Furthermore, considerable infrastructure investments by governments worldwide for smart city development, dams, bridges, roads, airports, and metros will propel the demand for protective and durable coatings in construction applications. Meanwhile, recovering automotive production and sales across major economies are fueling consumption of waterborne epoxy resin-based automotive coatings. Stringent environmental regulations regarding VOC emissions from coatings and adhesives in countries like China, U.S., and Germany are also shifting preference towards low VOC waterborne systems from solvent-borne varieties, thus driving the market.
Segment Analysis
The waterborne epoxy resins market is dominated by the building and construction sub segment. Around 65% of total waterborne epoxy resins are consumed by building and construction industries for applications like protective coatings for concrete floors, bridge deck overlays, waterproofing membranes etc. This is because construction activities has increased significantly worldwide on account of rapid urbanization and industrialization.
PEST Analysis
Political: stringent environmental regulations regarding VOC emissions from solvent borne epoxy resins is driving the demand for waterborne epoxy resins.
Economic: growth in building and construction sector along with infrastructure development is boosting the market.
Social: rising disposable income and changing lifestyle is increasing consumer spending on housing and commercial infrastructure development.
Technological: new product launches incorporating advanced properties like thermal stability, chemical resistance is further bolstering the market growth.
Key Takeaways
The Global Waterborne Epoxy Resins Market Demand is expected to witness high growth. The global waterborne epoxy resins market is estimated to be valued at US$ 3938.73 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Asia Pacific region dominates the global market and is expected to maintain its prominence over the forecast period. The region accounts for around 45% of total market share owing to expansive construction activities in countries like China and India.
Key players operating in the waterborne epoxy resins market 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. Key players are focusing on new product launches to strengthen their market position and to cater growing demand in emerging economies.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
