Waterborne Coatings Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Globally, perception regarding the solvent-based coatings is increasingly getting adverse as consumer are becoming more aware about the harmful effects of volatile organic compounds (VOC). Increasing awareness coupled with stringent government regulation is supporting the market of waterborne coatings which have lower VOC content. In addition, adoption of green technologies and bio-based materials has seen to positively impact waterborne coatings demand, globally. Countries like China and India which are among the largest consumer of paints & coatings, however the per capita consumption is very low compared to countries like United States, Singapore, and Canada. Therefore, with increasing income, urbanization along with regulatory changes, the adoption of waterborne coating would increase, thereby increasing the global market of waterborne coating.
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According to UnivDatos Market Insights (UMI)’ research report “Global Waterborne Coatings Market”, the market is expected to showcase growth of ~5% during the forecast period 2021-2027F. Increasing demand for high-performance coating and Growing end-use industries are some of the key attributable factors for the growth of the market

Based on type, the market is categorized into acrylic, alkyd, polyester, epoxy, polyurethane, PTFE, PVDF, PVDC, and others. Among these, acrylic category held the prominent share in the market owing to its usage in various types of paints & coatings like emulsion and latex paints. Further, increasing residential and non-residential construction activities and growing market of automotive refinish. This type of waterborne coatings are used in a wide range of applications owing to their chemical characteristics and unique aesthetic properties.

Based on industrial waterborne coating by type, the market is categorized into automotive, general industrial, protective, wood, marine, packaging, coil, and others. Among these, automotive accounts for significant share owing to large production of automobiles and significant consumption of paints & coatings on each vehicle. On an average around 3 liters of paints consume on a mid-size car. Further, according to OICA, in 2019, 91.8 million units of automobile produced, which reduced to 77.6 million units in 2020 in the light of COVID-19. In addition, it is expected that with the adoption of electric vehicles, demand of paints & coatings would also grow.

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Asia pacific accounted for the significant share in the Waterborne Coatings market

Asia Pacific accounted for the prominent share in the global waterborne coatings market owing to large population resulting in greater number of houses, large and growing industrial production, increasing urbanization, and rising consumer disposable income. Further, increasing regulation to reduce the content of VOC component from the paints has resulted in the increasing demand of waterborne coating in the region. Further, presence of large national and international players in the market focusing on waterborne coatings is propelling the market. Demand for high performance coating is also expected to increase in the near future in the region countries owing to government favorable policies to support the industries is expected to increase the demand. For instance, Government of India, envisioned a comprehensive program for developing semiconductors and display manufacturing ecosystem in India with a budget of over USD 10.2 billion (INR 76,000 crore). In semiconductor industry, high performance materials like PTFE is widely used for a range of application.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Waterborne Coatings market include Akzo Nobel N.V., PPG Industries Inc., The Sherwin-Williams Company, Kansai Paints Co. Ltd., Nippon Paint Holdings Co. Ltd., BASF SE, Asian Paints Ltd., Axalta Coating Systems Ltd., Jotun A/S, and The Chemours Company. These companies are taking several strategic decisions to meet the growing demand and increase their market share.  For instance,

·        In August 2021, The Sherwin Williams Company signed an agreement to acquire the European industrial coatings business of Sika AG. The transaction is expected to close in the beginning of 2022. Later’s European industrial coating business manufactuers corrosion-protection coating systems for interior and exterior steel infrastructure, bridges, airport and rail, wind and energy, chemicals, power transmission and stations, interior linings for oil and gas tanks, vessels, and pipework, and water and wastewater applications.

·        In 2021, Indigo Paints Limited, an India-based paints manufacturer, will use its capital generated from initial public offering (IPO), to expand its manufacturing capacities at its existing facility at Pudukkottai in Tamil Nadu, by setting up the additional unit to manufacture water-based paints to cater to the growing demand for these paints.

“Global Waterborne Coatings Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.  

Market Segmentation:

1.      By Type (Acrylic, Alkyd, Polyester, Epoxy, Polyurethane, PTFE, PVDF, PVDC, and Others)

2.      By End-User [Architectural (New Construction and Remodel & Repaint) and Industrial (Automotive, General Industrial, Protective, Wood, Marine, Packaging, Coil, and Other)]

3.      By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)

4.      By Company (Akzo Nobel N.V., PPG Industries Inc., The Sherwin-Williams Company, Kansai Paints Co. Ltd., Nippon Paint Holdings Co. Ltd., BASF SE, Asian Paints Ltd., Axalta Coating Systems Ltd., Jotun A/S, and The Chemours Company)

Key questions answered in the study:

1.      What are the current and future trends of the global Waterborne Coatings industry?

2.      How the industry has been evolving in terms of type and end-user?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global Waterborne Coatings industry?

5.      What are the customer orientation, purchase behavior, and expectations from the global Waterborne Coatings suppliers across various region and countries?

Table of Content –

1. MARKET INTRODUCTION

2. RESEARCH METHODOLOGY OR ASSUMPTION

3. MARKET SYNOPSIS

4. EXECUTIVE SUMMARY

5. GLOBAL WATERBORNE COATINGS MARKET COVID-19 IMPACT

6. GLOBAL WATERBORNE COATINGS MARKET REVENUE (USD MN), 2019-2027F

7. MARKET INSIGHTS BY TYPE

8. MARKET INSIGHTS BY END-USER

9. MARKET INSIGHTS BY REGION

10. WATERBORNE COATINGS MARKET DYNAMICS

11. WATERBORNE COATINGS MARKET OPPORTUNITIES

12. WATERBORNE COATINGS MARKET TRENDS

13. LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER

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