International. The water-based epoxy resins market is expected to reach a value of US$1.221 billion in 2020, according to MarketsandMarkets analysis.
The coatings market is one of the largest globally and the trend is expected to continue in the near future. The Asia-Pacific region was an important part of the coating application in 2014. China is also estimated to be the fastest growing market of the coatings industry in the Asia-Pacific region.
The US and China are at the forefront of consumption of water-based epoxy resins, while Germany, South Korea, France, Japan, the UK and Russia are other key markets for consumption. China consumes more than half of the demand for water-based epoxy resins, followed by Japan, Taiwan and South Korea, where consumption is growing at a steady rate. Increased consumption of these resins in the automotive, construction, textile, furniture and packaging sectors has been observed in Asia and the Pacific due to continued industrialization and increase in the region's manufacturing sector.
Construction is projected to be the fastest growing application segment between 2015 and 2020.
