Global waterborne coatings market is expected to reach USD 78.24 billion in 2021 and growing at a CAGR of 5.0% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 02/20/2017 -- Zion Market Research has published a new report titled "Waterborne Coatings Market by Resin (Acrylic, Polyester, Alkyd, Epoxy, Polyurethane, PTFE, PVDF, and PVDC), for Architectural, Automotive, General Industrial, Protective, Wood, Marine, Packaging, Coil, and other application - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021." According to the report, global demand for waterborne coatings market was valued at USD 58.39 billion in 2015, is expected to reach USD 78.24 billion in 2021 and is anticipated to grow at a CAGR of 5.0% between 2016 and 2021.
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Waterborne coating uses water as a solvent to disperse the resin makes them eco-friendly and easy for coating. Water as a solvent comprises of 80% of the paint volume along with the traces of other solvents waterborne coatings are gaining widespread applications due to the eco-friendly nature and low level of volatile organic carbon (VOC) content. The use of waterborne coating is made for the enhancement of offices, buildings, factories and fireproofing systems. Later also protects them from ultraviolet radiations (UV), moisture and microbes. Primers, paints, lacquers, stains and varnishes are the main types of waterborne products. These products are formulated by various types of resins like acrylics, alkyds, polyesters and polyurethanes. Further classification of waterborne coatings are water soluble paints, water based alkyd coatings and emulsion latex coatings. They are ideal primers possessing high resistance to abrasion and heat. These coatings do not require additives, hardeners or thinners.
Asia Pacific is the largest market for water borne coatings. It is the most dominant region witnessing the highest growth, both in terms of volume and revenue. As a result of increasing demand on the increasing income levels, increasing domestic fronts and ease in access to resources, Asia-Pacific is expected to be the leading water borne market within the forecast period. Economic expansion in developing countries like China and India are expected to drive the market within the forecast period 2016-2021. The growing demand for constructional application is driven by growing urbanization in Asia-Pacific. This resulted in the increase in the demand for commercial, residential and industrial infrastructure. Increasing demand for new houses due to low interest rates on housing loans is eventually the driving force for waterborne coatings market. It is the fastest growing segment expected to grow as compared to other applications in Asia Pacific. Owing to the rise in demand for non-residential, residential and commercial sectors the market is expected to grow in Asia Pacific region. Immense rise in population in the Asia-Pacific region is driving the constructional market eventually driving the coating market.
North America is expected to experience lucrative growth in the near future. As a result of multiple parameters such as economic expansion, rapid industrialization, advanced infrastructure waterborne coatings market is expected to show immense growth in this region. Increasing demand for eco-friendly, non-hazardous and low VOC coatings from the customers are expected to drive the demand for waterborne coating market within the forecast period. Being developed economy North America is expected to drive the market owing to rapid construction and automobile industry in the near future. However, environmental regulations in United States, may lead to the acceptance of these waterborne coatings.
Europe has also experienced the high rate of consumption of waterborne coatings market. UK, Germany, Italy and France are expected to drive the market in the near future. Countries such as UK, Germany, Italy and France are expected to drive the market in the near future. Demand from automobile sector, architectural sector and domestic sector are the driving forces for waterborne coating market within the forecast period. Growth in infrastructure and automobile is the driving factor for the waterborne coatings market. Regulations for low VOC content, imposed by the government for controlling the environment issues is a driving factor that is likely to boost the demand for Global water borne coatings in the region within the forecast period. Growing industrial, constructional, automotive sectors are expected to drive the water borne coatings within the forecast period.
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In Latin America, Brazil has emerged as a key market for waterborne coatings manufacturers. The demand for waterborne coatings expected to grow in the forecast period. In Latin America, there is huge emphasis on production of global water borne coatings. Ease of resources and high incomes are some of the factors to boost the market within the forecast period.
The Middle East region is endowed with abundance of oil and gas reserves, hence leading the way to the growth in global water borne coatings. Growing infrastructure in UAE and Saudi Arabia is expected to have a positive impact on fluoropolymers market within the forecast period 2016-2021. Rapid industrialization in the Middle East region is likely to drive market in the near future. Remarkable growth in Africa is expected as a result of regulatory support for infrastructure and automobile industry in countries such as South Africa in the near future.
Some of the key players in the global water borne coatings include Williams-Hayward Protective Coatings Inc., BASF, Akzonobel N.V., Axalta Coating Systems, Berger Paints India Limited, PPG Industries Inc., Kansai Paint Company Limited, Nippon Paint Company Limited, The Sherwin Williams Company, RPM International Inc., Tikkurila Oyj and The Valspar Corporation
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This report segments the global water borne coatings as follows:
Waterborne Coatings Market: Resins Segment Analysis
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Waterborne Coatings Market: Application Segment Analysis
Waterborne Coatings Market: Regional Segment Analysis
-Middle East and Africa
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