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The global market of waterbased resin will reach $52.65 billion in 2023

May 16,2019 | Views: 106
According to statistics from foreign professional institutions, by 2023, the waterbased resin market will reach 52.65 billion US dollars. Compared with the $38.86 billion market in 2018, the compound annual growth rate is 6.3%. The growth in the waterbased resin market can be attributed to increased demand from adhesive and sealants such as adhesives and paint and coating applications.

Development and widespread use of water-based technologies

In recent years, countries have established strict regulations on the emission of VOCs, which has led the industry to prefer the use of water-based technology rather than solvent-based technology. This has led to a reduction in the use of solvent-based technologies worldwide and has facilitated the widespread use of water-based technologies.

From the category of view

In 2017, acrylic resin occupied the largest share of the waterbased resin market, and it is expected that acrylic resin will also grow at the highest compound annual growth rate.

From the application point of view

waterbased resins are used in various fields. Demand for adhesives and sealants is also expected to increase due to the increasing demand for waterbased adhesives in the construction, paper and packaging industries. The good combination of the aqueous adhesive and the polar substrate promotes the growth of the aqueous resin. It is understood that water-based sealants are mainly used in the construction industry as a waterproof coating for concrete surfaces.

Waterbased adhesives and sealants market demand growth

Depending on the type, the water-based resin market has been divided into: acrylic, epoxy, alkyd, polyurethane, etc.
Adhesive and sealant applications are expected to grow at the highest rate ever, during the forecast period. Water-based resins can be used in a variety of applications such as paints and coatings, adhesives and sealants, and inks. Due to the increasing demand for waterbased adhesives in the construction and paper and packaging industries, the demand for adhesive and sealant applications is expected to continue to grow in the future. The good combination of water-based adhesives and polar substrates has promoted the development of water-based sealants, which are mainly used in the construction industry as waterproof coatings for concrete surfaces.

From the perspective of the region

Widespread use of water-based resins in the Asia Pacific region The growth of the waterbased resin market in the Asia Pacific region can be attributed to increased demand in the construction industry. Countries using large-scale water-based technologies in the Asia-Pacific region include China, India, Japan, South Korea and Indonesia. The region is currently witnessing growth in the automotive and textile industries. This factor has had a positive impact on the growth of the water-based resin market.

Recently, raw materials continue to rise in price, and the inherent products lack technical content and competitiveness, and profits are weak. The development of new technologies and new environmentally-friendly water-based resin adhesive products with low production costs will undoubtedly become the future trend. While complying with environmental protection policies, we will meet the needs of high-speed development of new markets and seize the market gap at the fastest speed.



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