Water Based Resins Market to Reach 84.85 Billion by 2032

According to analysts at Vantage Market Research, the Water Based Resins Market size is worth 52.6 billion in 2023 and is projected to achieve 84.85 billion by 2032, growing at a CAGR (Compound Annual Growth Rate) of 5.45% from 2024 to 2032. The Water Based Resins Market is driven by increasing demand for eco-friendly and sustainable materials, stringent environmental regulations promoting the reduction of volatile organic compounds (VOCs), and the growing adoption of water-based resins in various industries such as paints and coatings, adhesives, and textiles.

Industry Overview

The Water based resins market is driven by the increasing global emphasis on environmental sustainability and regulatory compliance. Due to its large reduction in volatile organic compound (VOC) emissions and environmental pollutants, water-based resins are increasingly being chosen in a variety of industries, such as paints and coatings, adhesives, and inks. The continuous technological developments that have enhanced the functionality and acceptability of water-based resins are another driver. Water-based resins are now more competitive in terms of performance thanks to advancements brought about by ongoing research and development.  

Asia Pacific Dominated Sales with a 42.2% share in 2023.  The market in Asia Pacific is driven by the region's fast industrialization, extensive building activity, and increased focus on environmentally friendly and sustainable products. As a result of its advantages for the environment and the government's support of low-VOC products, countries like China, India, and Japan have been leading the way in increasing demand for water-based resins.

Key Takeaway from the Report

• The Acrylic segment contributed a significant share to the market's growth in 2023 because of its superior adhesion, durability, and widespread use in various applications like coatings and adhesives
• By Application Industry,Paints & Coatings dominated the market with market share of 40.3% due to the rising demand for water-based, low-VOC, and environmentally friendly coatings in the construction and automotive industries
• In 2023, Asia Pacific led the market, capturing 42.2% market share due to the rapid industrialization, growing construction activities, and increasing demand for eco-friendly products in the region
• The North America region is set for substantial growth, with a noteworthy projected CAGR throughout the forecast period 

Top Companies

• Dow
• BASF SE
• Lubrizol Corporation
• Covestro AG
• Westlake Corporation
• Arkema
• ADEKA CORPORATION
• Olin Corporation
• DIC Corporation
• Allnex GMBH

Latest News

Covestro AG Launches New Waterborne and UV Resins for Industrial Coating Applications

• In February 2024, Covestro AG introduced a new series of high-performance resins, Waterborne and Waterborne UV, specifically designed for industrial coating applications in sectors such as wood furniture, cabinetry, and building products

Westlake Debuts Azures Product Line at European Coatings Show

• In March 2023, Westlake unveiled its Azures product line at the European Coatings Show in Nuremberg, Germany. This new line from Westlake Epoxy includes epoxy resins, modifiers, and curing agents free from SVHC- and CMR-labelled components, offering eco-friendly alternatives for coatings, civil engineering, and adhesives while maintaining high-performance standards

Arkema Introduces Incellion Waterborne Acrylic Solutions for EV and ESS Batteries 

• In April 2023, Arkema launched the Incellion range of sustainable waterborne acrylic solutions for high-capacity anodes, cathode primers, and ceramic-coated separators used in electric vehicle (EV) and energy storage system (ESS) batteries. Marketed under the INCELLION brand, these products feature acrylic-based binders, dispersants, and rheology modifiers designed to improve battery performance

Arkema Expands Waterborne Resin Capabilities with Acquisition of Polimeros Especiales 

• In 2022, Arkema, a specialty chemicals company, completed the acquisition of Polimeros Especiales, a leading Mexican producer of high-performance waterborne resins. This acquisition enhances Arkema's capabilities in solvent-free solutions and strengthens its presence in the rapidly growing Mexican market