Water-based Resins Market Size, Share, By Type (Acrylic, Epoxy, Polyester, Polyurethane, Alkyd, Hybrid, and Others), By Application (Paints & Coatings, Adhesives & Sealants, Elastomers, and Others), and By Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis and Forecast till 2034

Water-based Resins Market Size was valued at US$ 46.2 billion in 2024 and is expected to grow at a CAGR of 7.0% to reach US$ 85.6 billion by 2034

Water-based resins are another name for waterborne resins. These polymers or resins aren't solvent- or solvent-less; instead, they employ water as the transporting medium. Coatings, adhesives, sealants, elastomers, and composite materials are all made with resins. Any resin in which water is the primary transporting solvent is typically called "waterborne resin." The resin may be disseminated, reducible, or soluble in water. Chemical experts are gradually shifting to waterborne technology for paints and coatings due to ongoing environmental regulations in many nations and geopolitics involving oil production. Since resins and binders are the most crucial components of a coating, more waterborne materials are being invented, and coating developers are using them with increasing frequency.

Over time, there has been an increase in the usage of water as the carrying solvent for resins and coatings. Applying adhesives is no different. Manufacturing paints, inks, adhesives, textile sizes, and other products using water as the transporting solvent has long been a goal, as water is typically a cheap commodity in ample supply with minimal toxicity issues. As a result, waterborne polymers must be produced for these systems. The prominence of waterborne systems and, consequently, waterborne resins has been steadily rising in the last few years due to regulatory pressure.

Due to the growing population and increasing industrialization, the building sector is expected to experience significant growth, which will drive the market for water-based resins. Going forward, there will probably be a greater need for water-based resins due to growing urbanization and strict environmental regulations limiting the use of volatile organic compounds. Using these resins as coatings in paper, textiles and fibers, building materials and roadways, wood finishes, concrete, and other industries is anticipated to propel the market growth during the study period. The need for more research and development to reach a comparable efficiency level in all applications and competition from less expensive solvent-based alternatives are significant obstacles to the target market.   

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Key Drivers of Target Market:

Increasing usage of ecologically friendly solutions:

• The growing trend of ecologically friendly products significantly drives the market for water-based resins. A lot of businesses are incorporating sustainability objectives into their CSR initiatives. Reducing their carbon footprint and utilizing more ecologically friendly materials in their operations and products are standard components of these efforts. Businesses aiming to enhance their environmental performance without sacrificing product quality can use water-based resins. Water-based resin uptake is propelled by this corporate commitment to sustainability in several industries.

Escalating need in end-user sectors:

• The market is expanding due to the growing usage of water-based resins in various industries, including construction, adhesives, and paints and coatings. These resins are appealing to producers who want to satisfy consumer expectations for more environmentally friendly products because they provide better performance qualities and environmental advantages.

Restrains:

Less efficacy as compared to other alternatives, along with higher process costs:

• However, despite their many advantages, water-borne resins could not function as effectively in some applications as solvent-based alternatives. For instance, they could not be as durable or water-resistant under particular circumstances. Furthermore, their drying times are typically greater than their replacements, which can lengthen manufacturing times and lower output. Compared to solvent-based resins, producing water-based resins frequently entails more intricate procedures and occasionally more costly raw ingredients. Therefore, the above-mentioned factors could impede the target market in the long run.

Opportunities:

Increasing trend towards green alternatives:

• Growing environmental laws, increased demand for sustainable products, and expanding uses in paints and coatings, adhesives, and sealants have created exciting opportunities in the water-based resins market. The trend towards environmentally friendly solutions is anticipated to spur the creation of novel water-based resin types with enhanced functionality, creating opportunities for new uses and regional market expansion.

The market is segmented based on Type, Application, and Region.

Type Insight:

• Acrylic: Waterborne acrylic resin is a type of environmental protection resin frequently found in locomotives, ships, bridges, and coatings. Modification of aqueous acrylic resin has garnered a lot of interest in order to better utilize it in a variety of industries. The building, automotive, furniture, and metal anticorrosion sectors are among the industries that use waterborne acrylic resin.
• Epoxy: An epoxy resin system typically consists of two components: an epoxy resin and a curing agent. Waterborne epoxy resin and a curing agent can both be produced. When combined with appropriate pigment selection, these water-based epoxy coatings can be applied to the interior of oil tanks.
• Polyester: Oil and fatty acid components are absent from saturated polyester resins, which include many of the same ingredients as traditional alkyd resins. These reasonably priced resins provide good chemical resistance and mechanical strength. Their usage is widespread in industrial applications where durability is crucial, such as furniture finishes and wood coatings.
• Polyurethane: Waterborne polyurethane resins are accessible. Polyurethane dispersions (PUD) are commonly used to describe the single component variants.  These resins give good flexibility and durability, much like aqueous epoxies. They find application in coatings for diverse materials such as metal, wood, and plastics and are increasingly being utilized in adhesives and sealants.
• Alkyd: Water-reducible alkyds are essentially polyesters based on polybasic acids, alcohols, saturated or unsaturated oils, or fatty acids that have been changed to impart water miscibility. Vegetable oils or fatty acids, including linseed, soybean, castor, dehydrated castor, safflower, tung, coconut, and tall oil, are typical ingredients. These conventional resins have good leveling and gloss qualities.
• Hybrid: Waterborne resins come in various forms, including mixes and hybrids. An illustration would be the hybridization or blending of polyurethane dispersions with acrylic resins, which are frequently utilized in car paint. Among the PUDs that are hybrid resins are those that are both waterborne and UV-curable. This category contains cutting-edge resins that combine features to provide exceptional performance qualities for particular applications.
• Others: The other resins category includes a range of water-based resins with distinct uses, like vinyl resins for adhesives and inks.

Application Insight:

• Paints & Coatings: Water-based resins' environmental friendliness and performance features make them a popular choice for paint and coating formulations on a variety of substrates, such as concrete, metal, and wood.
• Adhesives & Sealants: Water-based resins are used to make adhesives and sealants because they have strong water resistance, flexibility, and adhesion for use in shipping, storage, and building.
• Elastomers: This application involves using water-based resins to provide the necessary flexibility and durability in the production of elastomeric products, including gaskets, seals, and flexible coatings.
• Others: This category covers the additional uses of water-based resins, where their distinctive qualities and environmental advantages are prized. These uses include inks, textiles, paper coatings, and specialized chemicals.

Regional Insights

• North America: The water-based resin market in North America is noteworthy because of the region's strict environmental restrictions regarding the use of zero-emission coatings and the technical breakthroughs in the paint and coatings sector. Due in large part to the existence of large manufacturers, strict environmental restrictions, and the growing need for environmentally friendly adhesives and coatings, the North American market for water-based resins is important, especially in the United States and Canada.
• Asia Pacific: The market for water-based resins is dominated by Asia-Pacific because of the region's growing industrial and building activity, which is a result of several government initiatives and assistance. The region's market is anticipated to increase due to rising construction activity and significant businesses moving their production facilities to Asia-Pacific. Due to laws and an emphasis on sustainable development, China is a significant consumer in this area.  
• Europe: The well-established coating and adhesive producers, the growing demand for environmentally friendly solutions, and the increased focus on lowering volatile organic compound (VOC) emissions all impact the European market for water-based resins.
• Latin America: Water-based resins have a smaller market in Latin America than in other regions. However, this is projected to change as the region's nations invest in infrastructure development and look for environmentally responsible ways to run their businesses.
• Middle East and Africa: The need for water-based resins is rising in the Middle East and Africa region, especially in the building and infrastructure development industries, and environmental sustainability is becoming increasingly critical.

Water-based Resins Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study segmented the target market report based on Type, Application, and Region:

Segmentation:

By Type:

• Acrylic

• Epoxy
• Polyester
• Polyurethane
• Alkyd
• Hybrid
• Others

By Application:

• Paints & Coatings
• Adhesives & Sealants
• Elastomers
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Water-based Resins Market include BASF SE, Lawter Inc., DowDuPont, Allnex Group, The Lubrizol Corporation, Covestro AG, Hexion, Royal DSM NV, DIC Corporation, Arkema, BELIKE Chemical, Vil Resins, Arakawa Chemical Industries Ltd, and KITO Chemical Co. Ltd.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

• In February 2024, Covestro AG introduced a new line of high-performance resins dubbed Waterborne and Waterborne UV. These resins are designed specifically for industrial coating applications in building materials, wood furniture, and cabinetry.
• In March 2023, Westlake debuted its new Azures product range at the European Coatings Show in Nuremberg, Germany. Westlake Epoxy's Azures product line offers epoxy resins, modifiers, and curing agents free of components marked with SVHC and CMR. These environmentally friendly solutions are ideal for coatings, civil engineering, and adhesives that need to meet high-performance requirements.
• In September 2022, Arkema completed the purchase of Polimeros Especiales, a renowned Mexican manufacturer of water-borne acrylic resins.

• BASF SE
• Lawter Inc.
• DowDuPont
• Allnex Group
• The Lubrizol Corporation
• Covestro AG
• Hexion
• Royal DSM NV
• DIC Corporation
• Arkema
• BELIKE Chemical
• Vil Resins
• Arakawa Chemical Industries Ltd
• KITO Chemical Co. Ltd.