Covina, July 11, 2024 (GLOBE NEWSWIRE) -- The study concludes that the global water-based resins market size and share is expected to grow at a CAGR of 7.0% between 2024 and 2034. The market revenue of US$ 46.2 Billion in 2024 is expected to grow up to US$ 85.6 Billion by 2034.
Water-Based Resins Market Report Overview
The water in water-borne resin technology acts both as a diluent and carrying medium in contrast to the traditional volatile organic compounds. Water-borne liquid resin glues are composed of acrylic resin emulsion polymers, vinyl acetate, and ethylene vinyl acetate. Resin emulsion polymers offer very expansive ranges of wet tack and adhesion properties over very expansive arrays of substrates. They are elastomers, coatings, adhesives, and sealants. Among the principal uses are, but not limited to, transparent coatings, industrial coatings, floor coatings, wood coatings, textile coatings, UV coatings, adhesives, concrete coatings, automotive coatings, and aqueous epoxy-based anti-corrosion primers. Waterborne resins are also used to make technical medical devices, for example, polyurethane dressings, which are liquid plaster based on polyurethane dispersion.
The low toxicity and readily available water have increased its application as a solvent for resins and coatings. Accordingly, a variety of aqueous polymers are now being manufactured for different applications. Industrialization of the building sector, coupled with an increasing population, is expected to boost the growth of the waterborne resins market. Stricter environmental legislation and increasing urbanization will increase the demand for such resins in various industries. However, the desired market remains in the wake of stiff competition from cheaper solvent-based alternatives and further research and development.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Some of the Key Market Players:
- BASF SE
- Lawter Inc.
- DowDuPont
- Allnex Group
- The Lubrizol Corporation
- Covestro AG
- Hexion
- Royal DSM NV
- DIC Corporation
- Arkema
- BELIKE Chemical
- Vil Resins
- Arakawa Chemical Industries Ltd
- KITO Chemical Co. Ltd
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Market Dynamics:
Key Industry Drivers:
Growing Consumer Interest in Eco-Friendly Products
- Greater demand for green products with reduced environmental impacts is one of the key drivers in the global water-borne resins market. Governments, too, are trying to promote water-borne resins by implementing stringent laws to reduce VOC emissions. Water-based resin technology is receiving huge investments from manufacturers as consumer preference is gradually shifting towards eco-friendly materials. Improved flexibility, durability, and adhesion, after technological developments in water-borne resins, make them more attractive to customers.
Growing Trend of Environmentally Friendly Product Purchases
- A growing interest in green products and consumer preference for waterborne products due to their low levels of volatile organic compound emissions and overall sustainability drive the global waterborne resin market. Stricter laws on VOC emissions, improved product performance, and companies including sustainability objectives as part of CSR programs are forces of change combined. Increasing adhesion, resilience, and flexibility of water-based resins attract an increasing number of environmentally conscious customers, hence fastening their uptake. These factors combine to fuel the market with the improved performance capabilities of water-based resins.
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Market Trends:
Technological Innovations in Advanced
- Technical advances boost the demand for water-borne resins, such as improved resin formulations, improved manufacturing processes, increased eco-friendliness, and expanded fields of application. Researchers develop resins that provide excellent adhesion, strength, flexibility, and quality compared to traditional solvent-borne alternatives. New manufacturing technologies such as emulsion polymerization have also closed the price gap between solvent- and water-borne resins. Moreover, it is developing water-based resins with better environmental profiles and reduced volatile organic compound emissions. The combination of automation and digital technology drives continuous improvement related to supply chain management, quality assurance, and increased production efficiency.
Segmentation:
Water-based Resins Market is segmented based on Type, Application, and Region.
Type Insights
- Waterborne acrylic resin finds its way into many industries, such as construction, automobile, furniture, and metal anti-corrosion. Saturated polyester resins offer mechanical properties concurrently with high resistance to chemicals in service. Epoxy resin systems consist of an aqueous resin and a curing agent. Alkyds are polyesters miscible in water, while polyurethane dispersions offer durability with elasticity. Another version of resins used for adhesives and inks is the vinyl resins, and hybrid resins link different properties for special uses.
Application Insights
- Waterborne resins find very frequent uses in paints, varnishes, adhesives, and elastomers, among others, because they have very good performance characteristics and are friendly to the environment. They have applications in concrete, metal, wood, shipping, storage, and building constructions because of their excellent water resistance, flexibility, and adhesion properties. They also provide resilience and flexibility in elastomeric products, including coatings, gaskets, and seals. They are further applied in coating paper and textiles, inks, and specialty chemicals.
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Recent Development:
- In July 2024, SioResin’s Water-Based High-Temperature Silicone Resin Emulsion Formulate Coatings for 200~1000℃ Applications. SioResin has announced the launch of Silicone Resin SiO-715, a groundbreaking water-based high-temperature silicone resin emulsion. This new product is set to redefine environmental safety and performance standards in the coatings industry.
- In April 2024, Safic-Alcan to distribute BB Resins’ epoxy-based finished systems in Poland. Safic-Alcan unveils its latest expansion in collaboration with BB Resins to Poland. This marks a significant milestone in advancing epoxy technology within the region.
Regional Insights
- North America: The North American water-based resin market is huge, primarily because of the strict environment-related regulations in the region related to the use of zero-emission coatings and technological improvements in the paint and coatings industry. The North American water-based resin industry is quite significant, especially in the US and Canada, mainly because of the presence of high-value manufacturers, stringent environmental regulations, and rising demand for green adhesives and coatings.
- Asia Pacific: Asia-Pacific currently dominates the market for water-borne resins due to increasing industrial and construction activities in the region, coupled with several initiatives and support from the respective governments. Growing construction activity and shifting of leading companies' production facilities into Asia-Pacific are likely to further boost the regional market. China is one of the largest consumers of the market, due to regulations and sustainable development.
Browse Detail Report on "Water-based Resins Market Size, Share, By Type (Acrylic, Epoxy, Polyester, Polyurethane, Alkyd, Hybrid, and Others), By Application (Paints & Coatings, Adhesives & Sealants, Elastomers, and Others), and By Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/water-based-resins-market-5416
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