CHICAGO, June 18, 2024 /PRNewswire/ -- The report "Water-based Resins Market by Type (Acrylic, Epoxy, Alkyd, Polyurethane, Vinyl, Polyester), Application (Paints & Coatings, Adhesives & Sealants, Inks), and Region (Asia Pacific, North America, Europe, MEA and South America) - Global Forecast to 2029", size is projected to grow from USD 56.5  billion in 2024 and is projected to reach USD 73.7 Billion by 2029, at a CAGR of 5.5%. The growth of the water-based resins market is primarily driven by rising demand from the paints and coatings, as well as adhesives and sealants sectors. This surge in demand can be attributed to stringent regulations imposed by various governments on the permissible levels of volatile organic compounds (VOCs). These regulations have led to a significant decrease in the use of solvent-based technology, while encouraging the adoption of water-based alternatives. As a result, manufacturers are increasingly turning towards water-based resins to comply with these regulations and meet the growing demand for environmentally friendly products.

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362 – Tables
52 – Figures
300 – Pages

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Among types, the acrylic resins market is projected to grow at the highest CAGR during the forecast period from 2024 to 2029

Water-based acrylic resin, derived from acrylic acid or its derivatives and dispersed in water, has garnered significant attention across industries owing to its versatility, user-friendliness, and eco-friendly nature compared to solvent-based counterparts. Utilizing water as the solvent, these resins are extensively applied in paints, coatings, adhesives, sealants, inks, and other coating-related applications. They are particularly prominent in industrial and commercial coatings, notably protective coatings. Water-based acrylic paints, preferred for both interior and exterior surfaces such as walls, woodwork, metal, and plastic, boast remarkable adhesion, durability, and rapid drying properties. They offer exceptional chemical and physical resistance, ensuring prolonged durability for the coated surfaces. Furthermore, their reduced volatile organic compound (VOC) emissions contribute to their environmental friendliness. With increasing environmental regulations targeting VOC emissions, the gradual displacement of solvent-based acrylic resins by water-based alternatives in paints and coatings is foreseeable.

The adhesives & sealants application is projected to grow at the highest CAGR between 2024 and 2029

The adhesive and sealants sector are anticipated to experience the most significant growth during the forecast period. Water-based resins find application in diverse areas such as paints, coatings, adhesives, sealants, and inks. The rising demand for water-based adhesives in construction and paper packaging industries is expected to drive the growth of adhesive and sealant applications in the future. The strong bonding capability of water-based adhesives with polar substrates has spurred the expansion of water-based resins. Additionally, water-based sealants are predominantly utilized in the construction industry for waterproof coating on concrete surfaces.

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"North America accounts for the 3rd largest share in terms of the value of the water-based resins market."

The North American water-based resins market ranks as the third largest globally, experiencing robust growth driven by increasing environmental awareness and stringent regulations favoring eco-friendly materials. The market is heavily regulated by the EPA, promoting the use of water-based resins due to their low VOC emissions and sustainable properties. The construction sector, particularly in the US, is a key driver, with substantial investments in residential, commercial, and infrastructure projects. Canada and Mexico also contribute to this growth with investments in urban development and renovation projects. This surge in construction activities fuels demand for architectural coatings, where water-based resins play a vital role, further propelling market expansion.

Key players

The Water-based resins market comprises key manufacturers such as are BASF SE (Germany), the Lubrizol Corporation (US), Dow (US), Covestro AG (Germany), Westlake Corporation (US), Arkema (France), DIC Corporation (Japan), Allnex GMBH (Germany), ADEKA CORPORATION (Japan), and Olin Corporation (US) among are the major players in the water-based resins market.

Browse Adjacent Market: Resins and Polymers Market Research & Consulting

Related Reports:

Paints & Coatings Market - Global Forecast to 2027

Water-based Adhesive Market - Global Forecast to 2023

Epoxy Resin Market - Global Forecast to 2028

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