Waterborne Epoxy Resins Market Owing To Rise in Demand from Construction Industry

 

Waterborne Epoxy Resins Market
Waterborne Epoxy Resins Market 


The Waterborne Epoxy Resins Market is estimated to be valued at US$ 3,173.7 Mn in 2022 and is expected to exhibit a CAGR of 7.73% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:


Waterborne epoxy resins are frequently used as coatings on wood, concrete, and metal surfaces. They offer advantages such as low viscosity, fast drying time, excellent adhesion, chemical and corrosion resistance. Waterborne epoxy resins are widely used in applications like wood finishing, flooring, construction and automotive OEM.

Market key trends:


One key trend driving the growth of the waterborne epoxy resins market is rising demand from the construction industry. Waterborne epoxy resins are widely used as a coating material for various surfaces in buildings and infrastructure development. They provide excellent bonding and are durable even under extreme weather conditions. The growing construction activities around the world due to rapid urbanization is expected to boost the demand for waterborne epoxy resins over the forecast period.

Porter’s Analysis:


Threat of new entrants: Low barriers for entry in terms of technology, however established players have economies of scale and product differentiation.


Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, compliance with environmental regulations increases switching costs.
Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to suppliers being capital intensive and availability of raw materials from few suppliers.
Threat of new substitutes: Threat of new substitutes is moderate as eco-friendly waterborne epoxy resins face competition from solventborne epoxy resins.
Competitive rivalry: High competitive rivalry due to presence of established players.

SWOT Analysis:


Strengths: High demand from paints & coatings industry. Low VOC emissions make them environment friendly.

Weaknesses: Require high technical know-how. Fluctuating raw material prices can impact costs.

Opportunities: Increasing regulations on solvents will drive preferences. Growing construction spending in developing nations.

Threats: Availability of substitutes like solventborne epoxy resins. Economic slowdowns can impact market.

Key Takeaways:


The global waterborne epoxy resins market is expected to witness high growth, exhibiting CAGR of 7.73% over the forecast period, due to increasing usage in construction industry. Asia Pacific accounts for largest share in waterborne epoxy resins market and is expected to maintain its dominance over forecast period owing to growing construction spending in countries like China and India. Key players operating in the waterborne epoxy resins market are Hexion Inc., Dow Chemical Company, Aditya Birla Chemicals Co. Ltd., Huntsman Corporation, BASF SE, Royal DSM N.V., Eastman Chemical Corporation, Conren Limited, Gellner Industrial LLC, and AllCoat Technology Inc. Hexion Inc. is one of the leading players in this market with one fourth market share. Regional analysis in North America and Europe are also expected to grow significantly due to stringent environmental regulations restricting solvents in coatings industry.

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