Water-based Resins Market Size, Share, and Industry Analysis, By Type (Acrylic, Epoxy, Alkyd, Polyurethane, and Others), By Application (Paints & Coatings, Adhesives & Sealants, Inks, and Others), and Regional Forecast, 2024-2032

The acrylic segment primarily drives the water-based resins market. The higher demand is due to their excellent UV resistance, durability, and color retention. Acrylic resin is majorly demanded in paints and coatings applications. The type offers good adhesion and a balance of flexibility and hardness. The acrylic water-based resin demand is significant, mainly driven by the architectural coatings sector.

The polyurethane segment also drives the Water-based Resins market. The demand for polyurethane resins is due to their chemical resistance,  flexibility, and robustness, which include exceptional abrasion resistance. The product type has increasingly been used in a variety of sectors, from wood finishes to automotive coatings.

The growing awareness of a sustainable environment and increasing focus on pollution-free manufacturing practices drive the growth of the water-based resin market during the forecast period. Stringent environmental regulations and advancements in technology are growth factors for product demand. The product has increasing demand from various applications such as paints & coatings, adhesives & sealants, inks, and others primarily due to the product offering a lower environmental impact as compared with solvent-based resins.

• In 2022, Asia Pacific dominated the water-based resins market with approximately 45% of the share.

The major water-based resins market consumers by region are China, Japan, and India in Asia Pacific; the U.S. and Canada in North America; Germany and France in Europe; and Saudi Arabia and UAE in the Middle East.

• China consumed 40% of the Asia Pacific water-based resins market demand in 2023.

Segmentation

Key Insights

The report covers the following key insights:

• Key Emerging Trends – For Major Regions


• Key Developments: Mergers, Acquisitions, and Partnerships


• Latest Technological Advancements


• Insights on Sustainability


• Porter’s Five Forces Analysis


• Impact of COVID-19 on the Market

Analysis by Type

By type, the market is segmented into acrylic, epoxy, alkyd, polyurethane, and others. The epoxy segment holds a significant share of the global water-based resins market.

• The product has notable demand due to its environmentally friendly properties, versatile uses, and ease of application.


• It also offers various advantages, such as reduced flammability, low odor, and high adherence to a wide range of surfaces. They are widely used in adhesives, coatings, sealants, and composite materials across different industries, such as automotive, construction, and electronics.

Analysis by Application

By application, the market is segmented into paints & coatings, adhesives & sealants, inks, and others. The paints & coatings segment holds a considerable share of the global water-based resins market.

• The epoxy resin demand in paints & coating applications is high due to their qualities, such as adhesion, chemical resistance, and durability. The Epoxy resin has the protective properties of paints & coatings, making them ideal for use in a variety of environments, including harsh industrial settings and outdoor applications.


• The growth in the infrastructures and industries is continuously growing, which requires more advanced protective solutions. Therefore, demand for epoxy resin in paints & coating applications is expected to grow. This trend is driven by the need for coatings that can provide long-lasting protection to surfaces against wear, corrosion, and environmental impacts, ensuring the sustainability and longevity of coated materials.

Regional Analysis

The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific holds a dominating share of the water-based resins market. The paints & coating sector in the Asia Pacific region is expanding rapidly, driven by rising income, urbanization, and increased trade activity. Water-based resins are increasingly used in paints & coating, adhesives & sealants, inks, and more, driving the demand for water-based resins.

• In the years 2013–2018, paints and coatings revenues for Asia Pacific grew from USD 56.2 billion to USD 74.2 billion, representing 18.5 billion liters and 23.7 billion liters, respectively.

Asia Pacific Total Coatings Demand In Both Volume And Value: 

• China (59+% of regional volume; 60+% of regional value)


• India (18% of regional volume; 12% of regional value)


• Japan (6% of regional volume; 8% of regional value)


• South Korea (4% of regional volume; 6% of regional value)

Key Players Covered

The report includes the profiles of key players, such as BASF SE, DOW, Allnex GMBH, The Lubrizol Corporation, Hexion, Arkema, DIC CORPORATION, and Covestro AG.

Key Industry Developments

• In February 2024, Covestro company developed a waterborne and waterborne UV family of high-performing resin solutions. This new product is for industrial coating applications such as building products, cabinetry, and wood furniture.


• In July 2022, Arkema acquired Polimeros Especiales. The acquired company is involved in the production of high-performance waterborne resins for a broad range of applications in markets such as textiles, architectural & decorative paints, pressure-sensitive adhesives, and construction.