Water-borne resins are a type of polymer that can be dispersed in water to form a stable emulsion or suspension. These products are typically used as coatings or adhesives, and they offer several advantages over traditional solvent-based resins, including lower VOC emissions and improved safety for workers. It can be made from a variety of materials, including acrylics, epoxies, polyurethanes, and alkyds. These products are typically supplied in a concentrated form, which can be diluted with water to the desired consistency for application.
The prevalence of these products is exponentially increasing due to numerous associated benefits with the product. For instance, they are generally less expensive than solvent-based alternatives. The lower cost of these products makes them an attractive option for manufacturers who are looking to reduce their production costs without compromising on product quality. Furthermore, with growing environmental concerns and the need for sustainable and eco-friendly products, the product demand has increased as these resins emit lower levels of volatile organic compounds (VOCs), making them an environmentally friendly alternative to solvent-based products. Such factors are boosting the demand for various water-borne resins in the global market.
On the other hand, even though water-borne resins offer several benefits, they may not perform as well as solvent-based products in some applications. For example, they may have lower durability or water resistance in certain conditions. In addition, they generally have a longer drying time compared to their substitutes, which can increase production time and reduce productivity. Furthermore, despite the growing demand for environmentally friendly products, there is still a lack of awareness among some consumers and manufacturers about the benefits of using water-borne resins. This can limit the adoption of these resins in certain applications.
The global market is highly fragmented and competitive in nature, with several players operating in the market. The competition in the market is driven by several factors such as product quality, price, technology, and customer service. Some of the key players in the market include AkzoNobel N.V., BASF SE, Arkema, Allnex GmbH, The Sherwin-Williams Company, PPG Industries, Inc., and others. Furthermore, the market is witnessing consolidation through mergers and acquisitions, with large players acquiring small and medium-sized companies to expand their market share and product offerings. For example, in September 2022, Arkema finalized the acquisition of Polimeros Especiales, a leading manufacturing company of water-borne acrylic resins from Mexico. This trend is expected to continue in the coming years as companies seek to gain a competitive advantage in the market.
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