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Epoxy resins are adhesives that can be employed to weld two materials and are also included as coatings. Epoxy resins are polymer matrix which are typically comprised of two epoxy groups. Epoxy resins, polyepoxides, can be categorized on the basis of their molecular mass and may be divided into low or higher molecular weight polymers. Raw materials needed for the manufacture of epoxy resins are actually extracted from naphtha. Epoxy resin is copolymerized to a wide variety of hardeners by homopolymerisation catalytic, creating a thermoplastic polymer with improving control and temperature tolerance and good mechanical properties.
Waterborne epoxy resins are environmentally friendly due to zero VOCs emission. Due to which these resins are widely used in coatings and adhesives industry. This has led to a high demand for the market.
However, The prices of waterborne epoxy resins are high in comparison to epoxy resins. On the other hand, the production of alternatives Bisphenol A and novolac resins is still very low. Since the waterborne epoxy resins production is quite low, this acts as the major barrier to the waterborne epoxy resins market.
ocessing and disposal of such goods are anticipated to limit the market growth.
Key Market Driver -
Increasing shift toward green and environmentally friendly products drives the market
Key Market Restraint -
Volatility in prices coupled with availability of alternatives restrict the market growth
Based on product type, the market for waterborne epoxy resinis further segmented into high molecular weight and low molecular weight. Based on application, the market for waterborne epoxy resinis further segmented into coatings, adhesives, composites, and others. Based on end use, the market for waterborne epoxy resinis further segmented into construction, textiles, automotive, furniture, packaging, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global waterborne epoxy resinmarket is fairly fragmented, with a number of global & regional players operating. Some of the key players in the waterborne epoxy resinmarket are Allnex GmbH, Evonik Industries AG, Huntsman Corporation, Olin Corporation, Aditya Birla Chemicals, Kukdo Chemical Co., Ltd., Reichhold LLC, ADEKA Corporation, Nan Ya Plastics Corporation, DIC Corporation and others.
In terms of Geography, the waterborne epoxy resin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific has always been a massive market for waterborne epoxy resins in terms of demand. This region has the largest and fastest-growing economies in the world. Continuous advances in the automotive industries have generated a tremendous demand for compact and fuel-efficient vehicles. As a result of its huge market and rapid economic development, it has a comparatively high growth rate than other areas. Growth is due to the rising utilisation of composites in numerous applications such as automotive & transport, electronics, aerospace, and the wind industry. There is also tight control of VOC emissions in the North American region. Architectural and industrial maintenance (AIM) coatings passed a law to reduce emissions from VOCs. Market growth is strongly influenced by strict European regulations that include limiting emissions of volatile organic compounds in order to minimize the significant impact of VOCs on health and the environment by setting certain emission limits. Middle East and Africa are predicted to face steady growth in the market. The demand in this region is boosted mainly due to the growing end-use industries for the waterborne epoxy resin. Latin America is seeing relatively slow growth since the waterborne epoxy resins production is quite low, this acts as the major barrier to the waterborne epoxy resins market.
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