The global waterborne architectural coatings market size was USD 84.32 Billion in 2022 and is likely to reach USD 124.23 Billion by 2031 , expanding at a CAGR of 4.4% during 2023–2031. The growth of the market is attributed to the rapid growing industrial and architectural applications over general and residential industries are propelling the growth of waterborne coatings market.
The primary feature of these coatings includes enhancing the appearance and life of building structure; thereby, increasing construction activities around the globe is likely to drive the demand for waterborne architectural coatings.
The Covid-19 pandemic had an unpleasant impact on the waterborne architectural paints and coatings market. The production has been on halt and both the demand and supply ware affected. The market suffered huge loss; however the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
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Stringent regulations to reduce VOC content in paints and coatings have been implemented by several governments around the world; thereby, increasing the use of eco friendly alternatives which are expected to drive the market growth over the forecast period.
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It reduces VOCs above 90% as compared to other coatings, and nearly 60% better corrosion resistant. These features are projected to fuel the market expansion in the coming years.
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Water-based coatings discharge less VOCs compared to solvent-based coatings. Thus, development and use of waterborne coatings have reduced VOC in paints.
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Removal and reduction of VOCs has been a challenge for the paint industry because of its health and environmental hazards. However, these coating and paint technologies have accepted the environmental requirements. Waterborne coatings are the new safe and healthy trends to overcome the above challenges.
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Rising population and rapid growing industries and architectural applications have increased the demand for coating and paint industry; thereby, directly impacting the market growth for waterborne coating
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Fluctuating price and availability of raw materials, which leads to high price of the final product is estimated to impede the market growth.
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The Covid-19 situation had a hinder impact on the market by unfavorable production and supply.
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R&D investment and technological advancement in waterborne coatings are expected to offer lucrative opportunities for the market players
Scope of the Report
The report on the global waterborne architectural coatings market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Waterborne Architectural Coatings Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Category (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF and PVDC) Application (Architectural, Automotive, Industrial, Marine, Packaging and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF, Akzonobel, PPG Industries, RPM International, The Sherwin-Williams, The Valspar, Axalta Coating Systems, Nippon Paints, Kansai Paint, Tikkurila and Berger Paints India
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Waterborne Architectural Coatings Market Segment insights
The acrylic segment is projected to constitute a large market share
Based on category, the global waterborne architectural coatings market is segregated into acrylic, polyester, alkyd, epoxy, and polyurethane, PTFE, PVDF and PVDC. The acrylic segment is expected to account for a key share of the market during the forecast period owing to its use in extensive variety of applications due to their unique aesthetic properties along with chemical characteristics. The demand for acrylic waterborne coatings is high in the medical, automotive and construction industries. The use of acrylic coatings is significantly rising in emerging economies, owing to of the improving standard of living and rising demand for high-quality paints.
Architectural segment is expected to register a substantial CAGR
Based on application, the global waterborne architectural coatings market is divided into architectural, automotive, industrial, marine, packaging and others. The architectural segment constitute a key share of the market over the forecast period due to the numerous features of architectural waterborne coatings which includes decorative interiors such as wood-flooring, furniture, sculptures and wall paintings along with protection of buildings against extremes of rain, sunlight, and wind. However, the automotive segment is anticipated to expand at a rapid pace during the forecast period owing to its environmental benefits and to ensure the health and safety of both manufacturers and consumers and developments and regulations in the automotive sector.
Asia Pacific is expected to dominate the market
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to expand at a robust CAGR during the forecast period. The regional market growth can be attributed to remarkable rise in building and construction activities, especially in developing regions. Waterborne coatings are primarily used in building and construction activities, as these coatings offer properties such as highly durable structures, better esthetics and high gloss.
Segments
Category
- Acrylic
- Polyester
- Alkyd
- Epoxy
- Polyurethane
- PTFE
- PVDF
- PVDC
Applications
- Architectural
- Automotive
- Industrial
- Marine
- Packaging
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Companies
- BASF
- Akzonobel
- PPG Industries
- RPM International
- The Sherwin-Williams
- The Valspar
- Axalta Coating Systems
- Nippon Paints
- Kansai Paint
- Tikkurila
- Berger Paints India
Competitive Landscape
Key players competing in the global waterborne architectural coatings market include BASF, Akzonobel, PPG Industries, RPM International, The Sherwin-Williams, The Valspar, Axalta Coating Systems, Nippon Paints, Kansai Paint, Tikkurila, Berger Paints India.
Some of these players are using various business strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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