The water-based resins market is projected to grow at a CAGR of 6.3% from 2018 to 2023
The water-based resins market is estimated at USD 38.86 billion in 2018 and is projected to reach USD 52.65 billion by 2023, at a CAGR of 6.3% from 2018 to 2023. The growth of the market can be attributed to the increasing demand for water-based resins from the paints & coatings and adhesives & sealants applications. Water-based resins are fast replacing traditional VOC solvent-based resins. The rising demand from the building & construction industry in emerging countries is driving the demand for water-based resins. However, higher cost and comparatively lower performance of water-based resins act as restraints to the market.
Among types, acrylic resin is projected to be the largest type segment of the water-based resins market
The acrylic resins segment is projected to be the largest as well as the fastest-growing type segment of the water-based resins market. Acrylic resins are the most versatile resin type. Water-based acrylic resins are used in paints & coatings and adhesives & sealants applications extensively. These are used in architectural coatings due to their gloss and color retention in outdoor applications. Acrylic resins are also largely used in Pressure Sensitive Adhesive (PSA) manufacturing. Hence, the demand of water-based acrylic resin is high due to its extensive use in the manufacturing of architectural and industrial coatings.
The APAC water-based resins market is projected to be the largest during the forecast period
APAC was the largest market of water-based resins in 2017. The demand of water-based resins in APAC is driven by their extensive use in building & construction and packaging industries. Also, the growth in this region is attributed to increasing demand for eco-friendly technologies and growing preference for producing sustainable technologies by manufacturers.
Breakdown of the profiles of primary interviews for the report on the water-based resins market
• By Company Type – Tier 1 – 42%, Tier 2 –33%, and Tier 3 – 25%
• By Designation – C Level – 31%, Director Level – 31%, and Others – 38%
• By Region – APAC – 61%, Europe – 31%, and North America – 8%
Some of the key companies profiled in this report are BASF (Germany), DowDuPont (US), Allnex Group (Germany), The Lubrizol Corporation (US), Royal DSM N.V. (Netherlands), Hexion (US), Arkema (France), DIC Corporation (Japan), and Covestro AG (Germany).
The report covers the water-based resins market across different applications and regions. It aims at estimating the market size and future growth potential of the water-based resins market across different segments. The report also includes an in-depth competitive analysis of the key market players along with their profiles, recent developments, and key growth strategies.
Key benefits of buying the report
From an insight perspective, this research report was focusing on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the water-based resins market, high-growth regions, and drivers, restraints, opportunities, and challenges of the water-based resins market.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on water-based resins offered by the top players operating in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the water-based resins market.
• Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for water-based resins across different regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the water-based resins market.
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the water-based resins market.