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Waterborne Epoxy Resin Market

Waterborne Epoxy Resin Market Forecasts to 2028 – Global Analysis By Epoxy Resin Type (High Molecular Weight, Low Molecular Weight), Application (Composites, Coatings, Adhesives), End User (Furniture, Automotive, Construction) and By Geography

4.7 (98 reviews)
Published: August 2022 ID: SMRC21712
4.7 (98 reviews)
Published: August 2022 ID: SMRC21712

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Waterborne Epoxy Resin Market is accounted for $4.52 billion in 2022 and is expected to reach $8.50 billion by 2028 growing at a CAGR of 11.1% during the forecast period. Waterborne epoxy resins are extensively used due to their low volatile organic compound (VOC) emission. These resins offers a high degree of compatibility with several components and have the capacity to get formulated with wetting agents, co-solvents, and additives in order to achieve formulations for superior adhesion to substrate high cure corrosion resistance. Waterborne epoxy resins are used in several applications such as adhesives, coatings, composites, and others.

According to Organization for Economic Co-operation and Development (OECD), the construction market in Asia Pacific is expected to witness a growth rate of 7-8% during 2017 to 2025, in order to reach US$ 5.36 trillion by 2025, accounting for around 60.0% of the global construction industry. According to Statista, 21.8 million heavy buses, light commercial vehicles, and trucks were produced worldwide in 2020. Thus, the growth in the production of lightweight and commercial vehicles is expected to drive the overall market of epoxy resins used in the automotive coatings industry. In Europe, the German government made an announcement regarding its plan to construct around 1.5 million housing units by the end of 2021. Similarly, the growth in construction activities in countries like Russia, France, the United Kingdom, etc., is expected to drive the growth of the epoxy resins market.

Market Dynamics:

Driver:

Growing demand for environmentally friendly products


These resins are copolymerized to a huge number of hardeners by homopolymerization catalytic. It can be used to develop a thermoplastic polymer that would additionally provide excellent mechanical properties. At the same time, it can boost temperature tolerance and control. Moreover, waterborne epoxy resins are environmentally friendly because of their zero VOCs emission. Hence, they are extensively used in the adhesives and coatings industries. These factors are likely to accelerate market growth in the upcoming years.

Restraint:

High Cost


The high cost of these resins is becoming a significant issue for a wide range of businesses. The costs of aqueous epoxy resins are expensive compared to epoxy resins' prices. There have also been comparatively slight progresses in the production of Bisphenol A and novolac resins. These textiles are widely employed in a variety of end-use industries, including automobile, commercial, and maritime, where they are used as coatings, composites, and adhesives. An additional issue contributing to increased pricing for these resins is matrix creation; the process of creating a matrix is time-consuming and expensive, requiring batch procedures in controlled environments at extreme temps.

Opportunity:

Growing demand of fuel-efficient and lightweight vehicles


Epoxy is used in automobiles as it decreases the weight of the finished product. The advantages of decreasing a car or truck’s weight comprise lower fuel consumption and maintenance costs which also result in lower emissions. Waterborne epoxies help to reduce the overall environmental impact compared with alternative older technologies. In the production process, air pollutants and landfill waste are minimized as epoxy-based paint immediately adheres to the metal. Therefore, maintaining cars in service longer conserves electricity and raw materials, maintains prices under check, and reduces the carbon emissions of the vehicle. Hence increase in the demand for vehicles creates an opportunity for the market.

Threat:

Stringent regulation


The application of volatile organic compounds in epoxy coatings has been imperiled to stringent regulation by governments in several nations, with the usage of these chemicals projected to have a negative influence on the climate. This is a significant impediment to the expansion of the worldwide market revenue.

Covid-19 Impact

Almost every nation in the world has been hit by the COVID-19 virus ever since it was found in December 2019. The WHO has declared it a general populace medical crisis. The coronavirus disease 2019 has already had a big impact on the world, and it will have a big impact on the Waterborne Epoxy Resin market during the forecast period. A large volume of Waterborne Epoxy Resins companies felt the impact of the COVID-19 pandemic in multiple dimensions and are now emphasizing sustained growth over the long-term future. As the global Waterborne Epoxy Resins and other chemicals industries play a vital role in the economic recovery of countries, Waterborne Epoxy Resins companies are likely to witness potential opportunities in the short term period.

The Low Molecular Weigh segment is expected to be the largest during the forecast period

The low molecular weight segment to be the fastest growing segment during the forecast period, as low molecular weight resins are preferably used in all the applications such as coatings, adhesives, and composites and they deliver properties such as good abrasion resistance, low odor, easy mixing, and improved dry performance.

The Construction segment is expected to have the highest CAGR during the forecast period

The Construction segment is expected to have the highest CAGR during the forecast period. As in the construction industry, it is used in coatings owing to their high chemical resistance property joint with high gloss and hardness. Ease of diffusion into small cracks and high bonding to concrete are some of the important factors that are driving demand for these resins for concrete coatings.

Region with highest share:

North America is projected to hold the largest market share during the forecast period. The growth is attributed to North America; governments have executed stringent norms to control VOC emissions. It is set to spur the demand for waterborne epoxy resins as these rules would be able to lower the effects of VOCs on the environment and health. Moreover, demand from various industries including marine, turbine, and aerospace are some of the factors propelling the market growth in this province.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, due to the increasing technological advancement in the automotive industry. Moreover, lower production costs and abundant availability of raw materials, particularly in China and India.  In addition, the booming electronic industry particularly in China is expected to prompt demand for waterborne epoxy resins. The end-user industries such as construction, automotive, textile, packaging, and furniture are increasing favor epoxy resins, thus acting as imminent growth drivers for the market in these provinces. Simultaneous development amongst local competitors and growth in emerging economies of Asia Pacific will contribute significantly to the growth of the market. The demand for waterborne epoxy resins has a large industry prominence spread across the globe that contributes to market growth and regional player concentration that contributes to market growth in all.

Key players in the market

Some of the key players profiled in the Waterborne Epoxy Resin Market include Reichhold LLC   Olin Corporation, Nan Ya Plastics Corporation, Kukdo Chemical Co., Ltd, Huntsman Corporation, Hexion Inc, Helios Resins, Evonik Industries AG, Dongguan Rong Chemical Co., Ltd, DIC Corporation, Conren, Ciech S.A., Cardolite Corporation, Baling Petrochemical Co., Ltd, Allnex GmbH, Aditya Birla Chemicals (Thailand) Ltd, Adeka Corporation, Engineered Polymer Solutions (EPS).

Key Developments:

In, July 2020: Engineered Polymer Solutions (EPS) launched its new EPS 2400 series in North America. It includes six waterborne acrylic resins that can provide high-performance solutions to wood coating formulators. These can also be used for flooring, furniture, and cabinetry.

In November 2021: Hexoin Inc. entered a definitive agreement with Westlake Chemical Corporation. Hexion Inc. was to sell its global epoxy business for approximately USD 1.2 billion to Westlake Chemical Corporation. This transaction is anticipated to be completed in the first half of 2022, following customary closing conditions.
 
Epoxy Resin Types Covered:
• High Molecular Weight   
• Low Molecular Weight  
 
Applications Covered:

• Composites   
• Coatings    
• Adhesives   
 
End Users Covered:
• Furniture    
• Packaging    
• Automotive    
• Construction   
• Textiles      
 
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

1 Executive Summary   
    
2 Preface   

 2.1 Abstract  
 2.2 Stake Holders  
 2.3 Research Scope  
 2.4 Research Methodology  
  2.4.1 Data Mining 
  2.4.2 Data Analysis 
  2.4.3 Data Validation 
  2.4.4 Research Approach 
 2.5 Research Sources  
  2.5.1 Primary Research Sources 
  2.5.2 Secondary Research Sources 
  2.5.3 Assumptions 
    
3 Market Trend Analysis   

 3.1 Introduction  
 3.2 Drivers  
 3.3 Restraints  
 3.4 Opportunities  
 3.5 Threats  
 3.6 Application Analysis  
 3.7 End User Analysis  
 3.8 Emerging Markets  
 3.9 Impact of Covid-19  
    
4 Porters Five Force Analysis   
 4.1 Bargaining power of suppliers  
 4.2 Bargaining power of buyers  
 4.3 Threat of substitutes  
 4.4 Threat of new entrants  
 4.5 Competitive rivalry  
    
5 Global Waterborne Epoxy Resin Market, By Epoxy Resin Type   
 5.1 Introduction  
 5.2 High Molecular Weight      
 5.3 Low Molecular Weight     
    
6 Global Waterborne Epoxy Resin Market, By Application   
 6.1 Introduction  
 6.2 Composites      
  6.2.1 Resin Infusion    
  6.2.2 Hand Lay-Up    
  6.2.3 Bonding Paste    
  6.2.4 Binders, Repair, Tooling, and Other Products 
 6.3 Coatings       
  6.3.1 Top Coats and Self-Leveling Coatings  
  6.3.2 Sealers     
  6.3.3 Floor Primers    
 6.4 Adhesives      
  6.4.1 Tie-Coats     
  6.4.2 Primers     
  6.4.3 Laminates    
    
7 Global Waterborne Epoxy Resin Market, By End User   

 7.1 Introduction  
 7.2 Furniture       
 7.3 Packaging       
  7.3.1 Mixed/Frozen Material Packaging  
  7.3.2 Cans and Bottles    
 7.4 Automotive       
  7.4.1 Upper Hood    
  7.4.2 Suspension System    
  7.4.3 Structural    
  7.4.4 Exterior     
 7.5 Construction      
  7.5.1 Self-Leveling Floor    
  7.5.2 Repair Systems    
  7.5.3 Pipelines     
  7.5.4 Grout & Mortar    
  7.5.5 Decorative & Topcoat   
 7.6 Textiles        
  7.6.1 Fiber Sizing    
  7.6.2 Fiber Adhesive Treatment   
  7.6.3 Binders and Performance Treatments for Textiles/Nonwovens 
    
8 Global Waterborne Epoxy Resin Market, By Geography   
 8.1 Introduction  
 8.2 North America  
  8.2.1 US 
  8.2.2 Canada 
  8.2.3 Mexico 
 8.3 Europe  
  8.3.1 Germany 
  8.3.2 UK 
  8.3.3 Italy 
  8.3.4 France 
  8.3.5 Spain 
  8.3.6 Rest of Europe 
 8.4 Asia Pacific  
  8.4.1 Japan 
  8.4.2 China 
  8.4.3 India 
  8.4.4 Australia 
  8.4.5 New Zealand 
  8.4.6 South Korea 
  8.4.7 Rest of Asia Pacific 
 8.5 South America  
  8.5.1 Argentina 
  8.5.2 Brazil 
  8.5.3 Chile 
  8.5.4 Rest of South America 
 8.6 Middle East & Africa  
  8.6.1 Saudi Arabia 
  8.6.2 UAE 
  8.6.3 Qatar 
  8.6.4 South Africa 
  8.6.5 Rest of Middle East & Africa 
    
9 Key Developments   
 9.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 9.2 Acquisitions & Mergers  
 9.3 New Product Launch  
 9.4 Expansions  
 9.5 Other Key Strategies  
    
10 Company Profiling    
 10.1 Reichhold LLC     
 10.2 Olin Corporation       
 10.3 Nan Ya Plastics Corporation      
 10.4 Kukdo Chemical Co., Ltd.      
 10.5 Huntsman Corporation      
 10.6 Hexion Inc.       
 10.7 Helios Resins      
 10.8 Evonik Industries AG       
 10.9 Dongguan Rong Chemical Co., Ltd.    
 10.10 DIC Corporation      
 10.11 Conren       
 10.12 Ciech S.A.      
 10.13 Cardolite Corporation     
 10.14 Baling Petrochemical Co., Ltd.     
 10.15 Allnex GmbH       
 10.16 Aditya Birla Chemicals (Thailand) Ltd.     
 10.17 Adeka Corporation       
 10.18 Engineered Polymer Solutions (EPS)  


List of Tables    
1 Global Waterborne Epoxy Resin Market Outlook, By Region (2020-2028) (US $MN)    
2 Global Waterborne Epoxy Resin Market Outlook, By Epoxy Resin Type (2020-2028) (US $MN)    
3 Global Waterborne Epoxy Resin Market Outlook, By High Molecular Weight (2020-2028) (US $MN)    
4 Global Waterborne Epoxy Resin Market Outlook, By Low Molecular Weigh (2020-2028) (US $MN)    
5 Global Waterborne Epoxy Resin Market Outlook, By Application (2020-2028) (US $MN)    
6 Global Waterborne Epoxy Resin Market Outlook, By Composites (2020-2028) (US $MN)    
7 Global Waterborne Epoxy Resin Market Outlook, By Resin Infusion (2020-2028) (US $MN)     
8 Global Waterborne Epoxy Resin Market Outlook, By Hand Lay-Up (2020-2028) (US $MN)    
9 Global Waterborne Epoxy Resin Market Outlook, By Bonding Paste (2020-2028) (US $MN)    
10 Global Waterborne Epoxy Resin Market Outlook, By Binders, Repair, Tooling, and Other Products (2020-2028) (US $MN)    
11 Global Waterborne Epoxy Resin Market Outlook, By Coatings (2020-2028) (US $MN)    
12 Global Waterborne Epoxy Resin Market Outlook, By Top Coats and Self-Leveling Coatings  (2020-2028) (US $MN)    
13 Global Waterborne Epoxy Resin Market Outlook, By Sealers (2020-2028) (US $MN)    
14 Global Waterborne Epoxy Resin Market Outlook, By Floor Primers (2020-2028) (US $MN)    
15 Global Waterborne Epoxy Resin Market Outlook, By Adhesives (2020-2028) (US $MN)    
16 Global Waterborne Epoxy Resin Market Outlook, By Tie-Coats  (2020-2028) (US $MN)    
17 Global Waterborne Epoxy Resin Market Outlook, By Primers (2020-2028) (US $MN)    
18 Global Waterborne Epoxy Resin Market Outlook, By Laminates (2020-2028) (US $MN)    
19 Global Waterborne Epoxy Resin Market Outlook, By End User (2020-2028) (US $MN)    
20 Global Waterborne Epoxy Resin Market Outlook, By Furniture (2020-2028) (US $MN)    
21 Global Waterborne Epoxy Resin Market Outlook, By Packaging (2020-2028) (US $MN)    
22 Global Waterborne Epoxy Resin Market Outlook, By Mixed/Frozen Material Packaging (2020-2028) (US $MN)    
23 Global Waterborne Epoxy Resin Market Outlook, By Cans and Bottles (2020-2028) (US $MN)    
24 Global Waterborne Epoxy Resin Market Outlook, By Automotive (2020-2028) (US $MN)    
25 Global Waterborne Epoxy Resin Market Outlook, By Upper Hood (2020-2028) (US $MN)    
26 Global Waterborne Epoxy Resin Market Outlook, By Suspension System (2020-2028) (US $MN)    
27 Global Waterborne Epoxy Resin Market Outlook, By Structural    (2020-2028) (US $MN)    
28 Global Waterborne Epoxy Resin Market Outlook, By Exterior (2020-2028) (US $MN)    
29 Global Waterborne Epoxy Resin Market Outlook, By Construction (2020-2028) (US $MN)     
30 Global Waterborne Epoxy Resin Market Outlook, By Self-Leveling Floor (2020-2028) (US $MN)    
31 Global Waterborne Epoxy Resin Market Outlook, By Repair Systems (2020-2028) (US $MN)    
32 Global Waterborne Epoxy Resin Market Outlook, By Pipelines (2020-2028) (US $MN)    
33 Global Waterborne Epoxy Resin Market Outlook, By Grout & Mortar    (2020-2028) (US $MN)    
34 Global Waterborne Epoxy Resin Market Outlook, By Decorative & Topcoat   (2020-2028) (US $MN)    
35 Global Waterborne Epoxy Resin Market Outlook, By Textiles (2020-2028) (US $MN)    
36 Global Waterborne Epoxy Resin Market Outlook, By Fiber Sizing    (2020-2028) (US $MN)    
37 Global Waterborne Epoxy Resin Market Outlook, By Fiber Adhesive Treatment (2020-2028) (US $MN)    
38 Global Waterborne Epoxy Resin Market Outlook, By Binders and Performance Treatments for Textiles/Nonwovens (2020-2028) (US $MN)    

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