Global Waterborne Acrylic Coating Market - by Application (construction material, architectural wood, automotive OEM, metal packaging, automotive aftermarket, protective coatings and others), by End Use (building & construction, automotive, woodworking, packaging, general industry, and others), and by Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 08/17/2018 -- Waterborne Acrylic Coating Market – Abstract
Waterborne Acrylic Coatings are considered as environmental friendly substrates due to the low emission of VOCs (Volatile Organic Compounds) in comparison with the solvent-borne coatings, which thereby minimizes the harsh impact on the environment. They are used in surface treatment of materials that utilize water as a solvent medium. These coatings offer excellent adhesion and good resistance to heat, fire & abrasion. Moreover, these coatings are easily spreadable and take a little amount of quantity as compared to the solvent-borne coatings; hence they are cost-effective.
These unique properties make Waterborne Acrylic Coatings the perfect choice for various applications within the furniture, building & construction industry. Consequently, these coatings perceive huge demand from the sectors such packaging, and most importantly from automotive OEM & aftermarket sector. Growing population coupled with the increasing urbanization worldwide is presaging the growing demand for construction and infrastructure development.
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The improving economy is increasing consumer's purchasing power, fosters the sale of automobiles and luxury furnishing across the globe. Automotive industry accounts for the largest consumer of these coatings, witnessing the increasing demand and production of automobiles worldwide. These factors presage the surging demand these coatings witness in the market, defining its market landscape on the global platform in the years to come.
Acknowledging the spurting growth the market is perceiving currently & the potential the market holds to grow globally, the leading research firm 'Market Research Future' (MRFR) has recently published a study report mapping companies active in the industry. In its market analysis, MRFR asserts that the Global Waterborne Acrylic Coating Market will garner USD 61.3 Million by 2023 at 5.77% CAGR during 2017 to 2023.
Additional factors such as growing investments to develop advanced and bio-based coatings are fostering the market growth. Seminal efforts &investments, made by the market players, are paying off well, driving the market growth. Conversely, stringent regulations imposed by the governments on the restricted use of materials emitting VOC coupled with the price volatility of the raw materials, are inhibiting the market growth.
Waterborne Acrylic Coating Market – Competitive Analysis
With the numerous matured & small key players along with the new entrants forming a competitive landscape, the market appears to be fragmented & fiercely competitive. The market players try to gain competitive advantage through strategic partnership, acquisition, expansion, collaboration, product & technology launch.
Development of customized coating solution is lately, trending in the market, resultantly driving the market competition intensely. Manufacturers having the ability to manufacture tailor-made coatings are expected to gain a competitive edge over their rivals.
May 11, 2018 – The Dow Chemical Company (US), the chemical giant showcased its complementary portfolio of release coating solutions and adhesives to address regional market needs at the Labelexpo Southeast Asia. Based on Dow's silicone and acrylic technology platforms, the high-value adhesive and release coating solutions will support customers stay abreast of future trends with innovative and reliable technologies and resources in the pressure sensitive industry.
March 20, 2018 – PPG Industries Inc. (PPG –UK) launched its Aquacron Line of Coatings (Aquacron 200 and 100 coatings). Among these, PPG's (Aquacron 200) waterborne acrylic urethane coatings offer high-end, rustic aesthetic and excellent substrate protection along with the ease of application with excellent sag resistance.
Waterborne Acrylic Coating Market – Segmentation
The Waterborne Acrylic Coating Market is segmented into two key dynamics for the convenience of the report and enhanced understanding;
By Applications: Comprises Architectural Wood, Construction Material, Automotive OEM, Automotive Aftermarket, Metal Packaging, and Protective Coatings, among others.
By Regions: North America, Europe, APAC and Rest of the World.
Segment Construction Material by applications is estimated to post a higher CAGR of ~ 6.0% during the forecast period.
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Waterborne Acrylic Coating Market – Regional Analysis
Globally, Asia Pacific accounts for the largest market for Waterborne Acrylic Coating due to the augmented demand from the growing end-user industries such as construction, automotive, and metal packaging, in India, China, Indonesia & Japan. Growing infrastructure development projects coupled with the ever-increasing population drive the regional market growth.
China, backed by the burgeoning building & construction sectors is the largest consumer of the product followed by India, Thailand, Japan, and Vietnam, among others. Also, growing the considerable product demand in different industrial sectors, foster the growth of the APAC market. The market trends substantiating the growth of Waterborne Acrylic Coatings in the region include rapid urbanization and the increasing consumption of the product in the automotive OEM and Aftermarket sector.
North America region stands the second largest market for Waterborne Acrylic Coating owing to the enormous contribution from the US market, fuelled by the broad application areas of the product in the automotive industries.
In Latin America, the market is estimated to witness a remarkable growth owing to the increasing industrial activities primarily in the automotive space. Presence of a large number of automotive OEM & aftermarkets in Brazil and Venezuela positively impact the regional market growth.
The Europe Waterborne Acrylic Coating Market accounts for the third largest market globally. The resurging economy is fuelling the construction and automotive sectors in the region. Moreover, declining crude oil prices are providing impetus to the automotive industry, increasing the production rate, which in turn, drives the growth of the market in this region. Conversely, the stringent environmental regulations imposed on the uses of products emitting VOC (volatile organic compounds) are hampering the market growth on a large scale. Nevertheless, augmenting demand for the product in the industrial, decorative, and others applications is expected to drive the regional market growth up to some extent.
The MEA (the Middle East & Africa) market is anticipated to perceive a considerable market growth during the assessment period, owing to the infrastructure development projects in the region.