WASHINGTON, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Global Waterborne Coatings Market is valued at USD 98.2 Billion in 2021 and is projected to reach a value of USD 119.3 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 3.3% over the forecast period 2022-2028.
Market Overview
According to Vantage Market Research, some of the key factors anticipated accelerating the waterborne coatings market growth over the forecast period. The rise in environmental regulations and the demand for VOC-free coatings are two major factors anticipated to propel the growth of the waterborne coatings market during the forecast period. It is also projected that increased development in end-use industries will fuel the market for waterborne coatings.
We forecast that the acrylic category in the waterborne coatings market sales will account for more than 15% of total sales by 2028. thermoplastic resins made from acrylate or methacrylate monomers are known as acrylic-based resins. Some acrylic resins include vinyl monomers like styrene or acetate to cut costs. Solvent-borne paints contain acrylic resins. Products for solution polymerization can also be used to make powder coatings and waterborne acrylic dispersions for application in architecture. These resins are employed in waterborne.
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Top Players in the Global Waterborne Coatings Market
- Akzo Nobel N.V, (Netherlands)
- Arkema, (France)
- AXALTA, (US)
- BASF SE, (Germany)
- Benjamin Moore & Co., (US)
- Berger Paints India Limited, (India)
- Hempel Group, (Denmark)
- Jotun, (Norway)
- Kansai Paint Co. Ltd., (Japan)
- KCC CORPORATION, (South Korea)
- PPG Industries, Inc., (US)
- The Sherwin-Williams Company, (US)
- Sika AG, (UK)
- Covestro AG, (German)
- Dow, (Brazil)
- Solvay, (Belgian)
For Additional Information on Waterborne Coatings Market Players and Detail List, Download a Report PDF Brochure
Market Dynamics
Rising Awareness for VOC-free Coatings and Stringent Environmental Regulations to Boost Market Growth
The growing demands for ecologically responsible qualities have been one of the most important trends in the adhesives industry. This trend has been greatly influenced by the strict EU regulations surrounding lowering volatile organic compound (VOC) emissions from coating material. These regulations encourage reducing or eliminating harmful VOC emissions to build an environmentally friendly and sustainable environment. Government regulations in the US and Western Europe, notably those about air pollution, are also anticipated to encourage cutting-edge, low-pollution coating technology.
Rising Usage of Waterborne Coating in Automotive Industries to Drive the Market Growth
Growing financial growth is anticipated to increase worldwide automobile production and sales, boosting demand for waterborne coatings. In recent years, the market for automotive coatings has grown significantly, and they now play a crucial part in the automobile industry. Polyurethane coating is commonly used in automobile applications as an elevated topcoat binder.
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Recent Developments in the Global Waterborne Coatings Market
- To help professionals satisfy the aesthetic and functional needs of light industrial or commercial settings, Sherwin-Williams developed Pro Industrial Pre-Catalyzed Water-based Urethane, a single-component product with performance qualities equal to those of a two-part coating.
- PPG Industries, a world-renowned manufacturer and distributor of coatings and paints, introduced their aqueous weathering stain, PPG MACHINECOAT, in May 2019. It's a low-VOC alternative to the standard solvent-based PPG Machinecoat alkyd weathering stains.
Top Trends in Global Waterborne Coatings Market
- One trend Vantage Market Research (VMR) expects to see in the waterborne coatings industry is the utilization of acrylic coating in various applications. Windows, roofs, and porches can all benefit from acrylic coatings because they create rubbery surfaces more resistant to UV rays. In construction, acrylic coatings are primarily utilized for high finishing on various surfaces, including floors, decks, bridges, and roadways.
- Another trend that VMR predicts will continue in the waterborne coatings industry is the rising usage of polyester. Polyester is a low-cost material mostly used in construction projects for buildings. The polyester powder coating is mostly used on metal furniture, doors, windows, and residential settings.
Top Report Findings
- Based on resin type, most of the waterborne coatings market's revenue is controlled by the acrylic category. Polymerizing acrylate or methanol monomers produces thermoplastic resins with an acrylic base. To cut costs, some acrylic resins might also include vinyl monomers like formaldehyde or ethyl cellulose. These resins are perfect for outdoor applications because they have excellent hydrolysis resistance, remarkable temperature resistance, superb gloss, and color retention.
- Based on application, most of the waterborne coatings market's revenue is controlled by the architecture category. The residential and non-residential segments of the architectural segment are further broken down into new construction and rehab & repaint applications for residential buildings. In new construction, various building materials are employed to address various restrictions and needs. High-waterborne coatings that form a durable barrier between the metal and its service environment are used to preserve steel and other metals.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Waterborne Coatings Market Forecast Report (2022-2028).
Architectural Category in Waterborne Coatings Market to Generate Over 60% Revenue
Waterborne coatings are an expensive investment. Vantage Market Research has analyzed the market for waterborne coatings to understand its current state and potential future growth factors. For better understanding, based on the application, the waterborne coatings market is divided into architectural and industrial
During the forecast period, the market for waterborne coatings is anticipated to experience the highest CAGR for the architecture category. Due to tighter rules surrounding VOC emissions, waterborne coatings already make up a considerable portion of all architectural coatings. They are anticipated to grow dramatically over the next seven to ten years. A rise in construction spending as a result of rising incomes in emerging economies.
On the other hand, the industrial category is estimated to grow significantly over the forecast period. Numerous applications are included in the industrial section, including those for the automobile, general industrial, protective coating, wood, marine, packing, coil, and others (aerospace and rail). These coatings are applied to big industrial buildings exposed to harsh environmental conditions, such as those utilized in oil and gas, chemical, textile, and other industries. Corrosion can be slowed down by applying a performance coating to different oil and gas sector components.
Regional Analysis
Europe Region in Waterborne Coatings Market to Generate More 30% Revenue
Europe region dominates the market for waterborne coatings throughout the projection period because of the expansion in construction industry development brought on by the post-recession recovery. Waterborne coatings market growth in the region will be fueled by the displacement of preservative coatings used in the development, which will also increase the product's popularity.
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Global Waterborne Coatings Market Segmentation
By Resin Type
- Acrylic
- Polyestic
- Alkyd
- Epoxy
- Polyurethane
- Polytetrafluoroethylene
- Polyvinylidene Fluoride
- Polyvinylidene Chloride
- Others
By Application
- Architectural
- Industrial
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 98.2 Billion |
| Revenue Forecast by 2028 | USD 119.3 Billion |
| CAGR | 3.3% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Akzo Nobel N.V., Arkema, AXALTA, BASF SE, Benjamin Moore & Co., Berger Paints India Limited, Hempel Group, Jotun, Kansai Paint Co. Ltd., KCC CORPORATION, PPG Industries Inc., The Sherwin-Williams Company, Sika AG, Covestro AG, The Dow Company, Solvay AG, Silberline Manufacturing Co. Inc., Hexion Inc. |
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