Waterborne Coatings Market, [By Resin (Acrylic, Polyurethane, Epoxy, Alkyd, Polyester, Vinyl Acetate, and Others), By End-use (Architectural & Decorative, General Industrial, Automotive, Wood, Marine, Metal Packaging and Others), By Regions]: Market size & forecast, 2017 - 2026
New York, NY -- (SBWIRE) -- 10/12/2018 -- The Global Waterborne Coatings Market Was Valued At USD 132.4 Billion In 2017 And Is Anticipated To Grow At A CAGR Of 6.6% During The Forecast Period.
Waterborne is a new technology that has taken place in the coating industry in past 40 years, where other innovations include water-soluble coatings, radiation-curable coatings, high-solid coatings, and two-component systems. These products are environmentally-friendly and is driven by the growth of non-solvent borne technologies in both the industrial and architectural end-uses.
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Product demand has witnessed a steady growth in different parts of the world as it is an environment-friendly solution. It makes use of water for a dispersion medium of resins unlike its solvent counterpart. The market has also flourished on account of numerous technological & product developments.
Rising construction activities coupled with the maintenance of the existing structures has tremendously driven the demand for these products. Protection of the surface and decoration are two main functions of the coating that are of considerable economic importance. As water borne coating is the result of technological development in the industry and is an environmentally-friendly options, it is rapidly becoming preferred option by many consumers around the globe.
The growth of industry is also a result of the favorable regulatory framework however, the scenario became increasingly complex and expensive for the coating suppliers when the trend started.
Technological developments for these products have also taken place on a continuous time span. Some of the crucial technologies in this aspect include emulsion & suspension polymerization, polyurethane dispersions, insoluble aqueous polymer dispersions, alkyd emulsions, soluble & partially soluble polymers.
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Polyurethane based products are the result of such developments and are used widely on account of lower volatile organic compound (VOC) emissions. Moreover, real-time polymer monitoring systems have optimized the production of many such polymers, which are widely used in the manufacturing of the coatings.
Competitive Landscape and Key Vendors
The waterborne coating industry in Western Europe, Japan, and the United States is mostly mature and mainly correlates with the health of the economy, especially transportation, housing, and construction. The demand growth in Europe and North America is forecasted to increase at an annual average rate 2-3% with slow growth rate in Japan on account of lack of growth in its major markets such as automotive OEM, appliances, and machinery. Asia Pacific is the fastest growing regional market for this industry.
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Global waterborne coatings industry constitutes of large number of domestic and international players. Some of the key market players include PPG Industries, Inc, BASF SE, Axalta Coatings, DowDuPont, Sherwin-Williams Company, RPM International, Kansai Paint Company Ltd., The Valspar Corporation, Jotun Group, and AkzoNobel NV.
- Vinyl Acetate
- Architectural & Decorative
- General Industrial
- Metal Packaging
- North America
- Latin America
- Asia Pacific
- Middle East
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