The report “Waterborne Coatings Market by Resin Type (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, PVDC), Application (Architectural and Industrial), and Region (Asia Pacific, North America, Europe, ME&A, South America) – Global Forecast to 2030”, size was USD 99.2 billion in 2021 and is projected to grow at a CAGR of 3.8% during 2022 – 2027 and 4.2% during 2028 – 2030 to reach USD 124.3 billion and USD 140.7 billion in 2027 and 2030 respectively. Waterborne coatings technology continues to develop, and it is expected to substitute the existing coating technologies. The global market for waterborne coatings is anticipated to increase as a result of the increasing application of waterborne coating in a variety of end-use industries, including architectural and industrial applications. The waterborne coatings market is primarily driven by the building and construction industry, also strict VOC norms are supporting the market growth.
• 454 Market data Tables
• 61 Figures
• 386 Pages and in-depth TOC on “Waterborne Coatings Market – Global Forecast to 2030”
Some of the prominent key players are:
· The Sherwin-illiams Company (US)
· BASF SE (Germany)
· AkzoNobel N.V. (Netherlands)
· PPG Industries Inc. (US)
· RPM International Inc. (US)
Opportunity: High growth potential in emerging economies
Emerging economies are investing significantly in infrastructure development and other long-term projects. The market in the Asia Pacific, especially in China and India, is creating significant opportunities for resin as well as waterborne coating manufacturers. The increasing income and purchasing power of the populace in the emerging countries of the Asia Pacific and other emerging regions are increasing investments in the construction, automobiles, electrical & electronics, consumer goods, and appliances sectors. Waterborne coating resin manufacturing companies have opportunities to capitalize on the economic growth of emerging markets such as China, India, Russia, and Brazil which are spending significantly on construction, automotive, electrical, and other industrial sectors.
The Acrylic resin is expected to account for the largest share of the waterborne coatings market, by resin type, during the forecast period, in terms of value and volume.
Based on resin type, The acrylic segment is projected to be the largest resin type during the forecast period. Waterborne coatings based on acrylic resin have good chemical and photochemical resistance, better stain protection, resistance to cracking and better blistering. The waterborne coatings based on the acrylic resin are used in floor coating, architectural coatings for interiors, metal furniture coatings, and architectural coatings for the exterior.
Asia – Pacific waterborne coatings market is projected to register the largest market share during the forecast period.
Asia Pacific is the fastest-growing market for waterborne coatings mainly due to the high economic growth, and heavy investment in industries such as automotive, marine, building & construction, and manufacturing. Nippon Paint holdings Co., ltd. (Japan), Asian Paints limited (India), and other leading global players are adopting various strategies to increase their market share in the region’s waterborne coatings market.
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