Waterborne epoxy resins are used across various end-use industries including construction, automotive, textile, furniture, packaging, and others. The market for waterborne epoxy resin is anticipated to grow at a significant pace in the coming years. The growth can be attributed to the growing end-use industries such as building & construction and food & beverage worldwide.
Low molecular weight waterborne epoxy resin is the fastest-growing segment in the waterborne epoxy resin market. Waterborne epoxy resins are primarily used for coating applications owing to their properties such as excellent mechanical, electrical & heat resistance, low odor, VOC compliance, and easy handling. These resins are also used as a curing agent that provides excellent adhesion to mineral substrates, such as concrete and coating.
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Adhesives is the fastest-growing application segment in the waterborne epoxy resin market. The high growth can be attributed to the increasing demand for resins with low VOC from the emerging economies such as India and China. The high growth can also be attributed to the growing construction industry in the region. Major applications for waterborne epoxy resin in the construction industry include coatings, adhesives, and composites.
Asia Pacific is projected to witness the highest growth rate between 2017 and 2022. The market in this region experiences an increase in demand for waterborne epoxy resins from construction, automotive, textile, furniture, packaging, and other end-use industries. The rising population, urbanization, and industrialization along with growing infrastructural development in China and India are some of the factors, which drive the market of waterborne epoxy resin in the region.
India is projected to be one of the high potential markets for waterborne epoxy resins. The rising consumption can be primarily attributed to the growing construction industry in the country. The government is also undertaking various initiatives, such as the development of 100 smart cities by 2022. This, in turn, will fuel the waterborne epoxy resin market.
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