The global waterborne coatings market was valued at around USD 77.5 billion in 2020 and is projected to reach around USD 111.07 billion by 2028, expanding at a CAGR of 4.6% during the forecast period, 2021-2028. The growth of the market is attributed to the rise in applications of waterborne coatings in the industry and residential sectors.
Waterborne coatings are used as surface coatings. The composition of the coatings may vary from each other. These types of coatings are made by mixing pigments and binders with water. Unlike paints, the waterborne coatings contain a minimum number of solvents. Generally, after the preservation of these coatings, they do not redissolve in water. The waterborne coatings market holds a key share in the coatings industry. The low environmental impact and the recovering economic conditions during the global pandemic have enabled the waterborne coatings market to gain a significant market share.
The report on the global waterborne 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 Coatings Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Resin Types (Acrylic, Polyurethane, Epoxy, Alkyd, Polyester, PTFE, PVDC, PVDF, and Others), Applications (Architectural, Automotive, Metal Packaging, Industrial Wood, Marine, Coil, 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 | BASF SE, Akzo Nobel N.V., RPM International Inc., Sherwin-Williams, Asian Paints, Axalta Coating Systems, LLC, Nippon Paint Holdings Co., Ltd. PPG Industries, Inc, and others |
Based on the types of resin, the global waterborne coatings market is bifurcated into acrylic, polyurethane, epoxy, alkyd, polyester, PTFE, PVDC, PVDF, and others. In 2019, the acrylic segment dominated the market, owing to its aesthetic properties and chemical characteristics. The acrylic coatings are mainly used in infrastructure and automotive due to their gloss retention and high-quality color properties. The acrylic segment is anticipated to dominate the market in the forecast period.
After the acrylic segment, the alkyd segment occupies the second position in this market. These waterborne coatings are mostly used in fillers, sealers, and caulks, owing to their flexibility.
In terms of applications, the global waterborne coatings market is divided into architectural, automotive, metal packaging, industrial wood, marine, coil, and others. Architectural waterborne coatings shield buildings from harsh climatic conditions such as strong wind, rain, and sunlight. Hence, the architecture industry is expected to hold a key market share in the forecast period. These coatings are also used in furniture and wall paintings. The growth of the construction industry is expected to have a positive effect on this market.
On the basis of regions, the global waterborne coatings market is segmented into Asia-Pacific, North America, Europe, Latin America, and Middle-East & Africa. The market in the Asia Pacific region is expected to grow at a robust CAGR in the coming years. Growing demand from construction, marine, and automotive industries from developing countries is expected to drive the market in this region. In the Asia Pacific region, it is anticipated that China will lead the demand, due to its high capacity of manufacturing and rising GDP. Rising demand from the automobile sector in Malaysia, Indonesia, Mexico, and Germany is anticipated to expand the market for waterborne coatings.
The global waterborne coatings market has been segmented on the basis of
The key market players in this market are BASF SE, Akzo Nobel N.V., RPM International Inc., Sherwin-Williams, Asian Paints, Axalta Coating Systems, LLC, Nippon Paint Holdings Co., Ltd. PPG Industries, Inc, and others.
The global waterborne coatings market has been segmented on the basis of
The key market players in this market are BASF SE, Akzo Nobel N.V., RPM International Inc., Sherwin-Williams, Asian Paints, Axalta Coating Systems, LLC, Nippon Paint Holdings Co., Ltd. PPG Industries, Inc, and others.
Some other reports from this category!