The Global Water-Based Resins Market is the subject of the latest research report from Market Research Future (MRFR). The Global Water-Based Resins Market is analyzed in detail in the report to find the major drivers affecting the market’s movement and the major restraints holding the market back. Key points revealing the likely growth trajectory of the Global Water-Based Resins Market are assessed in the report to provide readers with a comprehensive overview of the market’s likely growth trajectory over the forecast period from 2018 to 2023.
Water-Based Resins are used in paints and coatings, adhesives, sealants, inks, and leatherworking applications for various functions. The Global Water-Based Resins Market is mainly driven by the lower environmental footprint of Water-Based Resins in comparison to conventional solvent-based resins. This has resulted in the onslaught of environmental regulations in developed regions emerging as a key driver for the Global Water-Based Resins Market, as the demand for conventional solvent-based resins has been redirected towards the Water-Based Resins Market. The growing awareness about protecting the environment and the various ways in which human activities affect the environment is likely to be a major driver for the Global Water-Based Resins Market over the forecast period.
The growing demand for environmentally sound and viable paints and coatings is likely to be the major driver for the Global Water-Based Resins Market over the forecast period. The paints and coatings industry has been driven by the growth of major end-use industries such as automotive and construction over the last few years. Steady growth of these and other key end-use industries over the forecast period is likely to drive the Global Water-Based Resins Market over the forecast period. The construction industry is likely to remain a major end user in the Global Water-Based Resins Market over the forecast period due to the growing demand for new residential, commercial, as well as infrastructural construction in developed as well as developing countries.
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Leading players in the Global Water-Based Resins Market include BASF SE, DowDuPont, the Lubrizol Corporation, Royal DSM NV, Arkema, Vil Resins, KITO Chemical Co. Ltd., Arakawa Chemical Industries Ltd., BELIKE Chemical, DIC Corporation, Hexion, Allnex Group, and Lawter Inc.
Mergers and acquisitions as well as new product developments and capacity expansion are likely to be the favored competitive strategies for major players in the Global Water-Based Resins Market over the forecast period.
In March 2018, BASF SE expanded its production facility for water-based resins in Heerenveen in the Netherlands. This move is aimed at increasing the company’s share in the Global Water-Based Resins Market.
The Global Water-Based Resins Market has been categorized by Type, Application and Region.
By Type, the Global Water-Based Resins Market has been segmented into acrylic resin, epoxy ester resin, saturated polyester resin, epoxy resin, polyurethane resin, alkyd resin, and others.
Based on Application, the Global Water-Based Resins Market has been segmented into paints and coatings, adhesives and sealants, inks, leather, and others. Paints and coatings remain the major application segment in the Global Water-Based Resins Market with a share of 41% in 2017 and are likely to retain their dominance over the market over the forecast period. The adhesives and sealants industry also accounts for a major share in the global water-based resins market and is likely to remain a leading revenue generator over the forecast period.
Asia Pacific accounts for the largest share in the Global Water-Based Resins Market in 2017 and is likely to remain the leading regional market over the forecast period due to the rapid growth of the construction and automotive industries in the region. The construction industry is likely to remain a leading end user of Water-Based Resins in Asia Pacific over the forecast period due to the growing need to accommodate rural immigrants looking to secure a better livelihood in urban areas. The growing need for commercial and infrastructure construction is also likely to remain a major driver for the Water-Based Resins Market in Asia Pacific over the forecast period.
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