Waterborne Technology Boosts Demand for Coatings Binders
DUBLIN – A new study by Fact.MR reports that demand in the coatings binders market is expected to surpass 36,000’000 tons by the end of 2018. Manufacturers in the coating binders market are shifting their focus from solvent-based coatings to water-based coatings. Stringent regulations by governments across various countries that aim to minimize VOC emission are resulting in the use of water-based coatings.
In order to meet stricter VOC regulations, the demand for cheap low/no VOC solvents has increased in the coatings industry. The study found an increase in investment by manufacturers in the coating binders market to accelerate research and development activities into low-VOC, solvent-based coatings. Modification of equipment to work with water-based coatings is also on the rise to save the cost of purchasing new drying equipment.