Water-borne Epoxy Resins Market research report: information by type (high molecular weight, low molecular weight), by application (coatings, adhesives, composites) by end-use (construction, textiles, automotive) – Forecast till 2023
Water-borne epoxy resins are used in a wide variety of applications, due to their capability of offering superior performance, enhanced efficiency, and reliable nature to the product. Thus, they are used in various applications such as construction, textiles, automotive, and others.
Water-Borne Epoxy Resins Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the increasing consumption of the product in construction, textiles, packaging, and others.
It is estimated that the construction segment is set to observe the highest CAGR in the market due to growing and increasing constructional activities in the region. Moreover, increasing demand for ecofriendly coatings in automotive, polymers, and others is likely to witness a rapid growth during the forecast period. These factors have led China, India, and Japan to be the major players of this region
Hexion (U.S.), Allnex GmbH (Germany), Huntsman Corporation (U.S.), Nan Ya Plastics Corporation (Taiwan), KUKDO CHEMICAL CO, LTD (South Korea), ADEKA CORPORATION (Japan), Evonik Industries AG (Germany), Aditya Birla Chemicals (Thailand), Ltd.(Thailand), Olin Corporation (Germany), and Reichhold LLC (U.S), among others.
The water-borne epoxy resins market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing demand for water-borne epoxy resins in coatings, adhesives, composites, and others.
The coatings segment holds a major portion and is anticipated to continue its dominance in the market due to increasing consumption of products and this has led to a surge in demand for water-based coatings in end-use industries. Therefore, countries such as China, Japan, South Korea, and India are the major players in this market.
The North American region is growing significantly due to the growing demand for epoxy coatings in paints & coatings, automotive, construction, and other industries. It is predicted that growing investments in the end-use industries is likely to drive the market during the forecast period.
The growing consumption of epoxy resins in end-use applications has propelled the growth in countries such as the U.S, Canada, and Mexico to achieve a stunning growth in the market because they provide unique separation, recycling ability, and high standard performance to the product.
The European market has observed a steady growth in the last couple of years. It is projected that due to stringent rules and regulations implemented by the regional governments to follow water-based products in end-use industries, the market is set to grow at a higher rate during the forecast period.
It is driven by the application of this rule in polymer, chemical, oil & gas industries, and others. Moreover, it is estimated that the growing innovation and technological advancement of product, and other products is predicted to propel the growth in the countries such as the U.K, Italy, Germany, and France during the forecast period.
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The global water-borne epoxy resins market is segmented into the type, application, and end-use. On the basis of type, the market is sub-divided into high molecular weight, and low molecular weight segments. On the basis of application, the market is sub-divided into coatings, adhesives, and composites segments. On the basis of the application, the market is further segregated into construction, textiles, automotive, furniture, packaging, and others.
The Middle East & Africa region is estimated to witness a significant growth in the market due to the growing adoption of product in construction, paints & coatings, and others. Moreover, Latin America is anticipated to witness a higher growth in the market due to increasing demand for eco-friendly products in the end-use industries.
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.