Fueling change: the sustainable resin revolution in the coatings industry
How do you assess the current market situation for binders? What development is especially worth mentioning?
Resins and polymers for the coatings market have experienced many bumps in the road over the past few years, with rising raw material costs, supply chain reliability somewhat lacking in consistency and not least of all logistical challenges contributing to uncertainty. We believe that the current situation for binders in Europe remains a complex market landscape, but we are seeing signs of stabilisation. Product innovation as well as the adoption of new global market trends, including regulatory and the introduction of new disruptive technologies have impacted the market in some positive ways.
But I should also add that these exact same factors have also created some negative dynamics at the same time. While the market has softened, growth in binders seems to be driven by the emerging global sustainable trends and new environmentally friendly solutions. Customers are opting to use bio-based resins and polymers that support their company’s sustainability goals. They are also focusing on improving their carbon footprint, which in turn has driven the technical development of more sustainable products. New developments focused on the use of renewable raw materials without compromising binder performance is one of Lubrizol’s key innovation initiatives.
Which challenges do you see for binders? Where do you see the biggest potential for innovation?
The increasing focus on sustainable solutions has led to a surge in demand for high performance resins and polymers for coatings. Sustainable materials must continue to provide excellent performance at a cost that the coatings market can absorb. The greatest potential for innovation is driven by increasing demand in various sectors such as automotive, construction and industrial protective coatings – especially water-borne protective coatings and material lightweighting. Global pressure to reduce plastic waste and microplastics is one factor driving greater innovation in sustainable products for food packaging.
Sustainable coatings: Event tip
Bio-based systems are also the focus of the EC Conference Bio-based and Water-based Coatings on November 14 and 15 in Berlin, Germany. At the conference, you will learn about the latest developments in bio-based and water-based coatings.