Coating Binders Sales Gain Momentum Due to Rising Preference for Waterborne Technology
DUBLIN, Ireland — The coating binders market is likely to expand at a modest pace, according to the latest report by Fact.MR. The demand is expected to surpass 36,000,000 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 are resulting in the use of water-based coatings.
In order to meet stricter VOC regulations, the demand for less expensive low- or no-VOC solvents has increased in the coatings industry. Manufacturers are increasing investments to accelerate the research and development activities to develop and offer low-VOC solvent-based coatings. Modification of equipment to work with water-based coatings is also on the rise in order to save the cost of purchasing new drying equipment.