Industry News

Water-based Resins Market to Reach 42.7 Billion USD by 2020: M&M

Published on 2015-07-28. Author : SpecialChem

The report “Water Based Resins Market by Type (Acrylics, Alkyds, Epoxies, Polyurethanes and Others), by Application (Coatings, Adhesives & Sealants, Inks and Others) & by region - Global Trends & Forecasts to 2020” defines and segments the water-based resins market with analysis and forecast of the market size.

The water-based resins market is projected to register a size in terms of value of USD 42.7 Billion by 2020, at a CAGR of 5.5% between 2015 and 2020.

Asia-Pacific: The biggest market for water-based resins

Asia-Pacific is the biggest as well as the fastest-growing market for water-based resins, it accounted for a share of 44.9% of the global market in terms of value in 2014. This market position achieved by Asia-Pacific is majorly contributed by China and India. India is estimated to be the fastest-growing market for water-based resins in the region owing to increasing population and consumer preference for ecofriendly technology.
Water-based Polyurethane Resins: The fastest-growing resin type of water-based resins
The water-based polyurethanes are the fastest-growing type of water-based resins. Asia-Pacific and Europe are currently the largest consumers of water-based polyurethanes, and accounted for a share of about 47.7% and 31.8% in 2014 in terms of value. Water-based polyurethanes segment is an emerging and the fastest-growing segment mainly used on metals, wood, textiles, and plastics.

Coatings industry: The largest market for water-based resins

The coating applications is one of the largest application segment of water-based resins and this trend is projected to continue in the near future. Asia-Pacific is the biggest market in the coatings industry, and accounted for a share of around 44.8% of the total water-based coatings market in 2014.

In developed economies, such as North America and Europe, the market is matured. Majority of solvent-based resins are replaced by water-based resins. In Europe, Germany, the U.K., and Italy are leading consumers of water-based resins. Germany is the biggest market in Europe with a market share of 25.9% in 2014 in terms of value. Similarly, in North America, the U.S. is the major consumer of water-based resins with a market share of 71.5% in 2014.

China, India, Brazil, South Africa, and South-East Asian nations are the emerging markets of water-based resins. With restrictions on VOC level and increasing consumer preference, the demand for water-based resins in these developing economies is projected to increase at a faster rate. However, performance and cost of water-based resins will be the key factors in these developing regions.

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Source: MarketsandMarkets

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