Water-borne Coatings Market

The global water-borne coatings market size is expected to expand at a high CAGR during the forecast period, 2021–2028. The growth of market is attributed to increasing usage of coatings in construction of buildings and rising demand for environmentally friendly product.

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The waterborne coating is an ecofriendly surface treatment that dissolves the resin used to form the coating or paint using water as a solvent water absorbs about more than 75 % of the resin used. Its goal is to make the coating easier to apply.

Waterborne coatings provide excellent surface qualities including anti-sealing, smooth finish, and abrasion resistance. Due to their resilience to heat and abrasion, waterborne coatings make good foundations. They have a high level of adhesion and may be applied in thick or thin layers.

It also makes color mixing and alterations simple. Waterborne coatings can be applied to both internal and external surfaces. These coatings protect the surface from corrosion while also providing excellent gloss, wetting, and stability. Waterborne coatings are used to protect surfaces against corrosion and deterioration. They are also utilized to enhance the appearance and longevity of constructions.

The product has the advantages of being low-odor, safe, and simple to clean, which has increased product use in the architectural sector, consequently encouraging market expansion.

Due to various applications such as anti-fouling & self-cleaning agents, and anti-corrosion there is an increased demand for waterborne coating in marine industry.

Waterborne coatings usage has also risen in industrial wood applications such as furniture, flooring, specialty wood products, and mill operations. The substance guards against scratches, chemical abrasion, and corrosion on wood and wood substrates.

The architecture and construction industry are one of the fastest growing industries for waterborne coating. As waterborne coatings are corrosion resistant and provide gloss finish, an increasing number of construction companies are turning to them to provide long-term surface treatments for outdoor venues and infrastructure projects.

Market Trends, Drivers, Restraints, and Opportunities

• Rising automotive division in emerging nations, as well as the potential for waterborne in the shipbuilding and pipeline industries are projected to fuel the market in the coming years.
• Increasing discretionary personal income enabled purchase luxury wood flooring is anticipated to surge the market.
• Growing environmental concerns, as well as severe regulatory laws, are causing worry about the emission of volatile organic compounds (VOCs) which are expected to boost the market during the forecast period.
• Developments in land and buildings such as high-end buildings, offices, and malls are expected to fuel the market during the forecast period.
• Rapid growth of the automotive & transportation sector is key factors fueling the market in the coming years.
• Fluctuating raw materials prices act as a key challenge that can hamper the market growth.
• Humidity and temperature sensitivity are expected to hinder the market.

Scope of Water-Borne Coatings Market Report

The report on the global water-borne coatings market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Water-Borne Coatings Market Segment Insights

The automotive segment is projected to constitute a key market share

Based on end-users, the water-borne coatings market is divided into automotive, aerospace, building & construction, wood, industrial, and others. The automotive segment is expected to account for a key share of the market during the forecast period owing to rising necessity for long-lasting and protective coating in vehicle also growing demand for new generation vehicle.

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The acrylic coatings segment is expected to expand at a rapid pace

In terms of resins, the water-borne coatings market is segmented into alkyd, epoxy, polyurethane, acrylic, polyvinylidene fluoride, polyester, polyvinylidene chloride, and others. The acrylic segment is expected to hold a key share of the market in the coming years due to chemical qualities and distinct visual traits; they have a wide range of uses.

Asia Pacific is anticipated to dominate the market

On the basis of regions, the water-borne coatings market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period. Growth of the market is attributed to increasing income and rising architectural and building market, in countries such as India, China, and Japan also rapid growth of automotive industry in the region.

Segments

The global water-borne coatings market has been segmented on the basis of

End-users

• Automotive, Aerospace
• Building & Construction
• Wood
• Industrial
• Others

Resins

• Alkyd
• Epoxy
• Polyurethane
• Acrylic
• Polyvinylidene Fluoride
• Polyester
• Polyvinylidene Chloride
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• The Sherwin Williams Company
• Jotun; Akzo Nobel N.V.
• Axalta Coatings Systems
• PPG Industries Inc.

Competitive Landscape

Key players competing in the water-borne coatings market include The Sherwin Williams Company; Jotun; Akzo Nobel N.V.; Axalta Coatings Systems; PPG Industries Inc.

Some of these players are coming up with several market/business strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.