The global waterborne architectural coatings market was valued at USD 74.1 billion in 2019 and is expected to reach 109.2 billion by 2028. The market is anticipated to register a substantial CAGR of 4.4% during the forecast period, 2021–2027. 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.
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.
Attributes |
Details |
Report Title |
Waterborne Architectural Coatings Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Category (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF and PVDC) Application (Architectural, Automotive, Industrial, Marine, Packaging and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
BASF, Akzonobel, PPG Industries, RPM International, The Sherwin-Williams, The Valspar, Axalta Coating Systems, Nippon Paints, Kansai Paint, Tikkurila and Berger Paints India |
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.
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.
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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