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) -- 03/21/2017 -- 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 Applications - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021". According to the report, global 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 products are widely used in automotive coatings. All automotive paint producers are focusing on this technology and have already realized the importance of waterborne products. The evolution from solvent-based coatings to waterborne is rapidly taking place in the automotive industry. Waterborne coatings use water as a solvent to dissolve a resin, thus making these coatings eco-friendly and easy to apply. Waterborne coatings are known to be environment-friendly and also possess good resistance to heat and abrasion. To use a waterborne coating, spray equipment designed for waterborne coating is usually preferred.
Despite the performance limitations of waterborne coatings, they are gaining traction in the market owing to strict laws and regulations and harmful environment effects of solvent-based coatings. The waterborne coatings market is witnessing new product developments and innovations such as the emergence of eco-friendly coatings. These eco-friendly coatings are temperature and heat resistant and suitable for end-use industries, such as architecture, marine, wood, and automotive. Thus, the low demand for solvent-free coatings is driven the market growth for waterborne coatings through novel coating product modernizations. However, increasing acceptance of specially-designed spray guns with unique features for waterborne coating applications has led to reducing the volume of coatings consumed.
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On the basis of resins, the market is divided into acrylic, polyester, alkyd, epoxy, polyurethane, PTFE, PVDF, PVDC and others. Acrylic resins were the most dominant resin in waterborne coatings accounting for around 80% of total market volume in 2015. Acrylic resins segment have the wide array of application in end-use industries such as automotive and infrastructure due to its low production cost. On the basis of applications, waterborne coatings market is segmented into architectural, automotive, general industrial, protective, wood, marine, packaging, coil, and other application. Architectural was the largest application segment and accounted for approximately 85 % of the total market volume in 2015. Automotive application segment is expected to be the fastest growing application segment within forecast period owing to growing automotive industry in the developing regions.
Asia-Pacific was the largest market for waterborne coatings in 2015 followed by North America and Western Europe. Furthermore, this trend is expected to continue in near future. The market growth in the region is mainly attributed to increasing infrastructure activities in India, China, and Indonesia. Countries such as the U.S., China, and Germany are the major markets of waterborne coatings owing to increasing demand on the domestic front, increasing income levels, and easy access to resources.
The existence of a large number of key players in the global waterborne coatings market makes the market highly competitive and fragmented. Key market players are BASF SE, AkzoNobel N.V., Axalata Coating System LLC, PPG Industries, The Valspar Corporation, Sherwin-Williams Company, and Nippon Paints Co. Ltd.
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This report segments the global blenders and juicers market as follows:
Waterborne Coatings Market: Resins Segment Analysis
Waterborne Coatings Market: Application Segment Analysis
Waterborne Coatings Market: Regional Segment Analysis
The Middle East and Africa
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