U.S. Water-based Resins Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

U.S. Water-based Resins Market Size

U.S. Water-based Resins Market Trends & Growth Drivers

Emerging Applications of Water-Based Resins Is Key Trend in Market

• Manufacturers are continuously exploring and developing applications for these eco-friendly resins.
• Formulators are enhancing performance in sectors that were previously dominated by solvent-based coatings, particularly direct-to-metal coatings, and applications needing certain qualities, such as high gloss.
• Additionally, eco-friendly and sustainable goods and services are in greater demand, due to which businesses in the market are implementing environment-friendly production, packaging, and distribution procedures.
• Rapid technological innovations, such as the integration of blockchain, IoT, and AI, are being done to improve scalability, security, and efficiency.

Expansion of End-User Industries Is Key Driver for Market

• For the end-user industries, water-based resins are mostly used in the paint and coating industry.
• They are used in the formulation of architectural coatings such as interior and exterior paints, industrial coatings such as machinery and equipment, and specialty coatings such as automotive and marine.
• The adhesives and sealants industry also contributes to the growth of this market since it produces water-based adhesives and sealants for a variety of uses, including construction (such as roofing and building materials) and packing (such as case and carton sealing).
• Additionally, in the textile and paper coatings industry, they are used in the formulation of water-based inks and overprint varnishes.
• Water-based resins are highly used in this industry due to reduced VOC emissions, improved worker safety, and compatibility with various printing substrates.

Alternative Technologies Area Major Challenge for Market

• The U.S. government is focusing on the reduction of VOC emissions, which led to a decline in using solvent-based technologies.
• This increases awareness of different eco-friendly substitutes, such as water-based polymers.
• However, the manufacturing of water-based resins can be expensive, which fuels the exploration of other eco-friendly options such as powder coatings, high-solid coatings, and radiation-cured coatings.
• These options act as a challenge to the growth of this market, particularly in coating applications.
• Other alternative technologies that compete with water-based resins are low-VOC solvents, electron beam, ultraviolet adhesive technology, hot-melt adhesives, and hybrid solutions.
• Due to this, manufacturers have started investigating heavily on research and development for creating cost-effective alternatives to solvent-based resins.

U.S. Water-Based Resins Industry Analysis

Type Insights

• The acrylics category will dominate the market by contributing 40% revenue in 2024 due to a wide range of applications in various industries, such as architectural and industrial coatings, adhesives and sealants, textile and paper coatings, and construction materials.
• Additionally, this product has become a popular option because of its cost-effectiveness, durability, and adaptability.
• The polyurethanes category is expected to witness a CAGR of 6.2% in 2024−2030.
• This growth is due to the development in end user sectors, innovations in formulas, and the growing need for high-performance coatings.

The types covered in the report include:

• Acrylic (Largest Category)
• Alkyd
• Epoxy
• Polyurethane (Fastest-Growing Category)
• Others

Applications Insights

• The paints & coatings category will dominate the market by contributing 30% revenue in 2024, and it is expected to witness a CAGR of 6.4% in 2024−2030.
• This is due to the increase in consumer demands and the presence of their broad applications, including architectural, industrial, automotive, and specialty coatings.
• Water-based resins are commonly utilized in the paint and coating industry since construction companies must adhere to the regulations aimed at lowering VOC emissions.

The applications included in the report are:

• Paints & Coatings (Largest and Fastest-Growing Category)
• Adhesives & Sealants
• Textiles
• Automotives
• Inks
• Other

Regional Analysis

• The Southern region will acquire the largest market share, of around 50%, in 2024 due to the expansion of various industries, such as construction, manufacturing, and automotive in different states, including Texas, Florida, and Georgia.
• This region has also seen significant investments in infrastructure and renewable energy projects, both of which mostly depend on water-based resins for coatings and adhesives.
• The Western region will become the fastest-growing market, with a CAGR of 6.5%, in 2024−2030 because states, primarily California, have strict environmental regulations and a strong emphasis on sustainability.
• This will drive the demand for the low-VOC and environment-friendly water-based resins.

The regions analyzed for this report include:

• Northeast
• Midwest
• West (Fastest-Growing Region)
• South (Largest Region)

U.S. Water-based Resins Market Share

This market is consolidated in nature because of the presence of key players, including Henkel AG & Co. KGaA, 3M Company, Koninklijke DSM N.V., Allcoat Technology Inc., and Cytec Industries Incorporated. This market contains some major players and various small regional players, which makes the market consolidated. These players use strategies such as R&D capacity, mergers and acquisitions, strong client ties, and competitive pricing.

U.S. Water-Based Resins Market News

• In April 2024, Arkema launched a wide range of solutions and technologies for meeting carbon reduction, more circularity, and other sustainability goals at the 2024 American Coatings Show.
• In February 2024, Covestro AG launched a new range of high-performance resins, waterborne and waterborne UV.
• In July 2022, Arkema finalized the acquisition of Polimeros Especiales in Mexico.