(I-BusinessNews.Com, March 16, 2019 ) Â TheÂ coating binders marketÂ is likely to expand at a modest pace, according to the latest report by Fact.MR. The demand in the coating binders market is expected to surpass 36,000Â000 tons by the end of 2018. The manufacturers in the coating binders market are shifting their focus from solvent-based coatings to water-based coatings. Stringent regulations by the governments across various countries with an aim to minimize VOC emission is resulting in the use of water-based coatings.
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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.
The report provides information on the key segments in the coating binders market. The key segments of the market included in the report are product type, application, nature, and technology. The key segments are further divided into sub-segments.
By product type, the market is segmented into Acrylics, Alkyds, Polyesters, Polyurethanes, Epoxy, Vinyl-Acrylics, and Others (Silanes, Melamine, Vinyl Acetate etc.). Based on the nature, the coating binders market is segmented into natural and synthetic. On the basis of technology, the market includes, Solvent Based Coating, Waterborne Coating, High Solids, Powder Coating, and UV Cure.
Based on the application, the coating binders market is segmented into Automotive Coating, Architectural Coating, Industrial Coatings, Wood Coating, and Others (Marine, Special Purpose etc.).
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The demand for Alkyds coating binders is anticipated to grow at a significant rate, as per the report by Fact.MR. Alkyd coating binders are likely to rule the organic coating industries for a long time owing to the inherent potentials and versatile characteristics. Employing a significant amount of renewable material is one of the biggest factors for substantial growth of alkyds in the coating binders market.
The demand for alkyds is also rising owing to its low cost as derived from renewable raw materials. Moreover, increasing government regulations on chemical-based coating binders is resulting in consumers and industries moving towards using eco-friendly materials.
Manufacturers in the coating binders market in China are also focusing on developing new waterborne coating solutions for furniture, construction and other industries. The development of the new coating technology in the coating binders market in the country is also accelerating. Companies are focusing on developing new coating technology for high and low-temperature resistance, anti-graffiti coating technologies, nano-smart coating, and self-cleaning coating technology are some of the advanced technologies being developed in China.
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