Coating binders are film-forming elements, providing adhesion to bind pigments, substrate, and extenders together. It determines important properties such as gloss, flexibility, and durability. Coating binders are majorly used in infrastructure, automotive, and industrial coatings.
The report on the coating binders market offers valuable insights and forecast on the market. The major factors influencing the coating binders market growth are also included in the report. The goal of the report is to provide exclusive information on the coating binders market and enable readers to plan business strategies accordingly. The report on the coating binders market provides future prospects on growth opportunities.
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Rapid Infrastructure Development Driving Coating Binders Market Growth
Rapid urbanization and infrastructure growth in emerging economies is resulting in an increasing demand for coating binders. Epoxy resins as coating binders are finding large application in the construction and infrastructure sector. The Asia Pacific holds growth opportunities for coating binders’ manufacturers, with substantial growth in the infrastructure sector in China and India.
Water-based products are gaining popularity in the coatings industry. Acrylic polymers as binders are used widely in paints as water-borne emulsions. These water-borne emulsion paints are used on a large scale as decorative paints for outside and inside of buildings. According to the report by expert team from Global Construction Perspectives and Oxford Economics, volume of construction output is likely to growth by 85% worldwide by 2030, driven by India, China, and the US.
The move towards water-based coatings can be seen across various regions with stringent regulations on VOC emissions. According to the Paint Quality Institute, water-based paints account for around 80% of household paints sales.
Water-Based Coating Technology Gains Immense Growth
Environmental compliance is emerging as a primary reason for various industries shifting towards water-based coating technology. National, state, and local governments across the globe are regulating VOCs by limiting the amount businesses are allowed to emit in a particular time period. Businesses are also using water-based coating technology to lower VOC output, as it has no or considerably fewer solvents.
One of the main reasons for increased use of water-based coatings in interior house paint and the heavy-duty protective coating is it leads to very fewer odors that can be uncomfortable and hazardous to the health.
The demand for structural steel has increased in recent years, this is resulting in the development of water-based intumescent coatings that react under influence of fire. Also, the vast majority of the waterborne intumescent coating are based on Vinyl Acetate (VA) due to the low-cost and self-charring capacity.
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New Technologies Making Mark in Coating Binders Market
The on-going trend of low and zero VOC coatings is offering opportunities for innovation in coating binders. Antimicrobial coating technology is gaining popularity ensuring microbial control, providing hygienic surfaces and providing film preservation in paints. For instance, Croda has launched MyCroFence, a first-generation acrylic binder with the active antimicrobial surface component.
With the increasing use of lithium-ion batteries in the automotive sector, manufacturers in the coating binders market are focusing on developing effective coating binder material that can replace industry standard polyvinylidene fluoride (PVDF) binder, a toxic solvent with the water-based solvent.
Key Developments in the Coating Binders Market by Leading Players
The Lubrizol Corporation is planning to showcase new coating technologies at IDEA19 in 2019. The company will present new polymer and additive technologies enhancing the performance of textiles, papers, and nonwovens. Meanwhile, the company is also planning to invest more than $25 million in its Calvert City manufacturing facility to meet increasing customer demand.
Solvay SA exhibited new grades of polyphenylene sulfide resin and recycled nylon 6/6. These new grades of Ryton-brand PPS are developed to provide some useful properties in automotive. The new material can be used for lightweight, flexible, coolant brackets, lines, and connectors.
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