A recent report published by
Infinium Global Research on the waterborne coatings market provides an in-depth
analysis of segments and sub-segments in the global as well as regional
waterborne coatings market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional waterborne coatings
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global waterborne
coatings market. According to the report, the global waterborne coatings market
is projected to grow at a CAGR of over 5% over the forecast period of
2022-2028.
The value of the waterborne
coatings market in 2022 was over USD 84 billion and expected to reach nearly USD
113 billion in 2028 and is expected to be growing with a CAGR of more than 5% during
the forecast period. Waterborne coatings are surface coatings that contain 80%
water and a small number of other solvents such as polyvinyl ether and glycol.
These coatings are environmentally friendly and are used across various
applications including automotive refinish, coils, protective coatings, and
marine and industrial wood. The waterborne coating can be referred to as a term
that is utilized to characterize any complete or surface coating which utilizes
water as a solvent in turn to separate the resin that is added to it, in turn,
to form the coating. The configuration of waterborne coatings fluctuates and
can involve large amounts of water with small amounts of other solvents. The
market is anticipated to be driven by the increasing construction spending and
restoration activities in emerging economies of Latin America and the Asia
Pacific. Waterborne coatings have gained significant space and recognition
globally predominantly due to the improving economic conditions and low
environmental impact of these coatings. Waterborne formulations hold a major
share of the overall market accounting for over 50% of the total volume
consumed globally. COVID-19 was an
incomparable global public health emergency that has affected almost every
industry and is projected to impact this various industry growth during the
forecast period. During the Covid-19, pandemic people were compelled to stay in
their homes. The governments of many countries turned their focus to healthcare
from other industries. This significantly disrupted their supply chain
operations and manufacturing as lockdowns were imposed by the respective
governments. Manufacturing facilities were all shut down due to the pandemic in
almost every country across the globe. Logistical restrictions, manpower
shortage, material unavailability, and other restrictions had reduced the
growth of the industry. The pandemic has affected the normal production of
companies.
The building & construction coatings industry has changed over the last ten years. Presently available coatings have different raw material bases and different environmental profiles and properties. These changes have been brought about through a variety of influencers such as synthesis chemists, paint formulators, end-users, and environmental regulations. The rise in demand for waterborne coatings in marine applications such as anti-corrosion, anti-fouling, and self-cleaning agents should boost the market growth. The presence of stringent environmental regulations in the marine industry is anticipated to support business growth. The waterborne coatings market has also witnessed increased consumption in industrial wood applications such as furniture, flooring, specialty wood product, and millwork. The product helps protect wood and wood substrates from scratches, chemical abrasion, and corrosion. The rise in urbanization is increasing the demand for residential, commercial, and industrial infrastructure. This, in turn, is propelling the demand for waterborne coatings from Building & Construction End Users. Waterborne coatings are likely to present a difficulty in the surface prep stage of a project. Water is a proffered substitute for solvents in some situations; however, it is also a key component of corrosion.
The report provides a regional
outlook covering geographies such as North America, Europe, Asia-Pacific, and
the Rest of the World. Asia-Pacific is expected to dominate the waterborne
coatings market during the forecast years. The waterborne coatings market in
the region is primarily driven by the rise in infrastructure requirements in
residential, non-residential, and commercial sectors. The building &
construction segment in the Asia Pacific is projected to expand at a rapid pace
in the near future. An increase in demand for decorative paints and coatings in
India and China, coupled with rising awareness about waterborne coatings is
driving the market in the region. Growth in population in the Asia Pacific is
propelling the construction industry in the region. This, in turn, is augmenting
the building & construction segment. Regulations on the emission of VOC are
becoming increasingly stringent in countries such as China and India. China is
globally recognized for its architectural boom. The demand for low-cost housing
and commercial housing is the reason for its growth in recent years. China’s
real estate sector has been growing rapidly with increased investment by the
government. The growth in construction is expected to positively affect the
paints & coatings market in the country. In the automotive industry, the
production of commercial vehicles and cars decreases. However, with the growth
of electric vehicles, the demand for waterborne coatings is likely to increase.
Therefore, manufacturers are switching to environmentally-friendly
technologies. The trend of using waterborne coatings is expected to gain
momentum in the near future.
The report on global waterborne
coatings market covers segments such as product, and application. On the basis
of product, the sub-markets include acrylic coatings, polyester coatings, alkyd
coatings, epoxy coatings, polyurethane coatings, PTFE coatings, PVDF coatings, PVDC
coatings, and others. On the basis of application, the sub-markets include
building and construction, automotive, industrial wood, and other end-user
industries.
The report provides profiles of
the companies in the market such as Akzo Nobel N.V., Arkema, AXALTA, BASF SE,
Benjamin Moore & Co., Berger Paints India Limited, Hempel Group, Jotun,
Kansai Paint Co., Ltd., and KCC CORPORATION.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of waterborne coatings market. Moreover, the study highlights current
market trends and provides forecast from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.