The waterborne epoxy resins market has witnessed considerable growth over the past few years owing to advantages of waterborne epoxy resins such as low volatile organic compound (VOC) emissions, high durability, and easy application properties. Waterborne epoxy resins are used as coatings for flooring, metals and concrete in various industries including construction, automobile, and aerospace. They provide excellent adhesion, chemical and corrosion resistance properties.
The Global Waterborne Epoxy Resins Market is estimated to be valued at US$ 3938.73 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the waterborne epoxy resins are Novartis, Merck, Roche, Amgen, Pfizer, Sun Pharma, Bristol-Myers Squibb, AstraZeneca, Johnson & Johnson, Valeant, Daiichi Sankyo, Takeda, LEO Pharma, Mylan, Sanofi, Regeneron, Eli Lilly, Bayer, Gilead Sciences, Astellas Pharma. The growing demand from construction industry is due to increasing residential and non-residential construction activities globally. The market is witnessing high growth in Asia Pacific region on account of rising industrialization and urbanization.
Market key trends
One of the key trends in the Waterborne Epoxy Resins Market Size is the increasing demand from emerging economies like China, India, Brazil and other South East Asian countries. This is attributed to rapid urbanization and industrial development in these economies. With improving economic conditions, infrastructure and real estate development is booming in these regions. This is positively impacting the consumption of waterborne epoxy resins in construction and industrial coating applications.
Porter’s Analysis
Threat of new entrants: The Waterborne Epoxy Resins industry requires high initial investments to set-up manufacturing plants. Additionally, existing players have established brand recognition and distribution networks making it difficult for new players to enter.
Bargaining power of buyers: There exists a fragmented customer base for waterborne epoxy resins increasing the bargaining power of buyers. Buyers can negotiate lower prices by playing one manufacturer against others.
Bargaining power of suppliers: Raw material suppliers have moderate bargaining power due to availability of close substitution. However, compliance with stringent environmental regulations limits switching of suppliers.
Threat of new substitutes: Substitutes like solvent-borne epoxy resins pose a moderate threat. However, stringent VOC regulations are driving greater demand for waterborne variants.
Competitive rivalry: The market is consolidated with top players holding major shares. Players compete on product quality, application development, and cost.
Geographical Regions
North America dominates the market in terms of value owing to stringent environmental regulations favoring waterborne technologies. Significant usage of waterborne epoxy resins in protective coatings for infrastructure and transportation also aids growth.
The Asia Pacific region is expected to be the fastest growing geographical market led by countries like China and India. Increasing industrial and infrastructure development activities along with growing awareness about environmental protection are key factors driving the region’s growth.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it